Coinbase Integrates Bitcoin Payments Through Lightning Network

Coinbase has followed the lead of other major exchanges and announced that it will now support the Lightning Network.

This move puts them in line with exchanges like OKX, Binance, Kraken, and Bitfinex, all of which have integrated the Lightning Network into their platforms in the past three years.

According to the Coinbase blog, the incorporation of the Lightning Network will lower fees for users by 20 times.

The exchange also believes that enabling LN will improve the security and transaction processing capabilities of the Bitcoin blockchain.

A spokesperson for Coinbase emphasized the company’s role in modernizing the traditional payment system through the use of cryptocurrencies.

With the implementation of the Lightning Network, users will have faster and more affordable access to assets, which is crucial for communities with limited access to traditional banking services.