Huge news for sound money users – Cash App today announced that all users will be able to use Bitcoin’s Lightning Network for free, allowing almost instantaneous transfers of BTC.
The news comes on the heals of one of the fastest bull runs the coin has seen in years, with prices now hovering around $21,000.
— Lynne B (@lynnerae) January 19, 2023
To purchase or send Bitcoin with the Lightning Network, users must make sure they have a Lightning-enabled wallet. There are several wallet options that are compatible with Cash App, including Blue Wallet, Breez, and Zap. Once a wallet is set up, users can link their Cash App account to their wallet and start purchasing Bitcoin on the Lightning Network.
When purchasing Bitcoin on the Lightning Network with Cash App, users can expect near-instant transactions with minimal fees. The Lightning Network allows users to send Bitcoin to other users within the network almost instantly, with transaction fees that are typically much lower than those of regular Bitcoin transactions. This makes it possible for users to send and receive Bitcoin quickly and cheaply.
The Lightning Network also provides users with improved security and privacy. When a user makes a purchase on the Lightning Network, only their wallet address is visible, meaning their identity is kept private. This makes it much harder for third parties to track the Bitcoin transactions of Cash App users.
Overall, using Cash App to purchase Bitcoin with the Lightning Network is a great way to enjoy the fast and secure benefits of the Lightning Network. With near-instant transactions, low fees, and improved security and privacy, Cash App users can enjoy a better experience when purchasing Bitcoin with the Lightning Network.
You can find out more about how to use lightning on Cash App here.