Binance Adds Support for Lightning Network
Main page Technologies, Bitcoin, Cryptocurrency Exchanges, Binance

Crypto exchange Binance has just announced that its users can now select LN as an option when making deposits.

Other options for depositing or withdrawing BTC reportedly include BNB Smart Chain (BEP-20), BNB Beacon Chain (BEP2), SEGWITBTC (SegWit) and Ethereum (ERC-20).

Binance is not the first exchange to add this capability, as the micropayment network has already been implemented by Bitfinex, Kraken, River Financial, OKX and CoinCorner.

Binance first announced its intention to integrate the Lightning Network in May after an internal failure due to Bitcoin network congestion. In order to avoid similar situations in the future, the exchange's team started working to ensure the withdrawal of BTC via the Lightning Network.

Subsequently, the developers reported on the launch of new LN nodes.

The performance of the micropayment network has grown over the past year, but started to decline in the last week, according to LookIntoBitcoin. The indicator is currently hovering around 4,864 BTC.

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