Lightning? Well, of course! We've done it and are happy to announce that we can now offer Bitcoin purchases via the Lightning Network. After evaluating and implementing feedback from our first users, the Lightning feature is gradually being activated for everyone. ⚡️
At Coinfinity, we have worked hard to make it possible to buy Sats via Lightning. For our customers, this means that they not only pay significantly fewer transaction fees, but can also receive their Bitcoin faster.
In this post Learn what the Lightning Network is.
The lighting network is extremely complex and integration must be well thought out here. For this reason, we approach each other bit by bit. As a first step, we will restrict payouts here to the “Lightning Address” and “LNURL Pay” formats. Examples of these formats are as follows:
Lightning address: lightning@coinfinity.co
LNURL-Pay: LNURL1DP68GURN8GHJ7MRW9E6XJURN9UH8WETVDSKKKMN0WAHZ7-
MRWW4EXCUP0DAHXCETFDEJHXJAAZ37
If needed, you can find more details about the formats here at coincharge.io
The big advantage of these formats is that the receiving user does not have to be online at the time of payout. The user experience is then very similar to a normal purchase via Bitcoin On-Chain, with the slight difference that you insert an email address format or a static LNURL as a receiving address. For now, however, this is only possible for individual purchases, and not yet for savings plans. This only follows in the next step.
However, a Lightning address is not available via every Lightning wallet, and especially with those wallet apps that we think are very good because you keep your own keys, such as Phoenix Wallet, unfortunately not yet available.
If you have your own Lightning Node (a network node), you can create a Lightning address, there are some good ones for that tutorials in internet. Node operators are usually power users anyway, who can do this even without our help. For your own node while on the go, the Zeus app particularly good!
By the way, here are some services that help you get a Lightning address: The Lightning Address
In this post From our Lightning developer Johnny, you'll find even more information about various Lightning receiving options.
For anyone who wants it easier and is aware of the risks of using a custodial wallet (this is a wallet where the provider manages the cryptographic keys), we recommend these 3 custodial wallets, among others:
As I said, please note that in some cases you may have to trust a third party.
Of course, we are working on being able to process normal Lightning invoices in the future as well. The integration is gradually being expanded, but for now, we are happy that we are now one of the first Bitcoin brokers to offer Lightning purchases to our customers!
Just try it out and send sats around the world in seconds!
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The Coinfinity Bitcoin app is here! Stay humble, stack sats.
