- With this fix, they may use it to get bitcoin as well which was only limited to sending.
- Over 44 million people use the app every month.
Lightning Network Bitcoin transactions are now available to Cash App customers. Today, Cash App Bitcoin Product Lead Michael Rihani tweeted the news, and the app’s support page echoed his words. Until recently, the Lightning Network was the only way for Cash App users to transmit Bitcoin to one another. But now, with this fix, they may use it to get bitcoin as well.
By routing Bitcoin transactions via channels rather than the main Bitcoin blockchain. And settling them at a later date speeds up Bitcoin transactions and decreases expenses. Advocates of the proposed solution argue that it would facilitate widespread usage of the largest digital asset in the world.
Convenience For Bitcoin Users
According to the Cash App website, Lightning is “typically little to no fees involved, and it’s used to send smaller amounts of Bitcoin.” According to the website, the weekly Lightning integration limit is $999. Cash App users in the United States (with the exception of New York State) may use the Lightning Network to send and receive Bitcoin.
Fintech behemoth Block, previously Square, led by ex-Twitter CEO and Bitcoin enthusiast Jack Dorsey, established a successful mobile payment application known as Cash App to help bitcoin reach a wider audience.
Over 44 million people use the app every month, despite the fact that it’s only accessible in the United States and the United Kingdom. Block introduced “paid in Bitcoin” for users of the Cash App in April, making it possible to receive all or part of one’s salary in Bitcoin.
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