Transactions Through Lightning Network are 1,000 Times Cheaper Than MasterCard

The Lightning Network (LN) has seen a steady growth in users over the past few years due to its low transaction fees and high performance.

According to Glassnode analyst James Check, the average transaction fee for transferring one Bitcoin through the Lightning Network is 3,000 satoshis ($0.84), which is about a thousand times lower than what’s charged by Visa and MasterCard.

Additionally, Glassnode has noted that fees on the Lightning Network have been decreasing since November 2021, while its popularity continues to increase.

The adoption of the Lightning Network is driving the wider use of Bitcoin as a means of payment, as Visa and MasterCard charge fees of around 2-3% per transaction.

With an average LN channel size of 0.02 BTC and a maximum of 0.08 BTC, the LN is well suited for small Bitcoin payments below $1,000.