Coinfinity, an Austrian bitcoin broker, recently integrated the Lightning Network into its services, allowing customers to make Bitcoin purchases with reduced transaction fees and faster processing times.
Thomas Bergstaller, Chief Growth Officer at Coinfinity, highlighted the importance of this integration, saying: “Bitcoin’s early rollout is an important innovation step for us at Coinfinity, and Lightning itself is an essential foundation for the global adoption of Bitcoin as a usable monetary system. “
The Lightning Network, a Layer 2 scaling solution, addresses the limitations of the Bitcoin blockchain by facilitating faster and more cost-effective transactions for smaller amounts of Bitcoin. By leveraging the Lightning Network, Coinfinity aims to enhance Bitcoin’s usability as a competitive payment system, by surpassing the transaction volumes of major card networks such as VISA or Mastercard.
Coinfinity customers gradually gain access to Lightning’s features through the company’s web portal and mobile app for iOS and Android — currently, users can use Lightning to buy Bitcoin, after which it will be integrated into the savings plan feature and then the sell function.
This integration not only provides convenience to users, but also contributes to the widespread adoption of Bitcoin as a viable payment method. The move comes as Coinfinity seeks to improve transaction efficiency and reduce costs associated with traditional bitcoin transactions.
For more details on Coinfinity’s Lightning Network integration, interested individuals can read the Blog post on company website.
