- Frontnode exchange has gone live in Europe and is open for global operation.
- The Bitcoin exchange comes with lightning support.
- Other exchanges have also begun to adopt lightning network technology.
With the presence of the lightning network, the exchange is designed to offer affordable and faster transactions. Therefore, users on the exchange can enjoy these benefits when sending and receiving payments on the platform.
Furthermore, the exchange is a European licensed cryptocurrency exchange. It promises rapid-quick Bitcoin transactions. In particular, users can purchase Bitcoin in less than 5 minutes. More so, verified users can withdraw their funds directly at the end of their purchase. This specifically reduces the chances of hacking.
For users eager to join the platform they must complete the (Know-Your-Customer) KYC process to clear quick approvals. After this, they can begin to enjoy the benefits of the lightning-enabled Bitcoin crypto exchange.
Moreover, the exchange will bring in additional features along with speed and lower fees. Specifically, these benefits include instant Bitcoin purchases besides the highest security which bring lower chances for hacks.
Frontnode CMO, Jason Alexander believes that Bitcoin is a store for all value. Hence, the exchange is working towards making the shift for Bitcoin to become a completely transactional cryptocurrency.
To add on, Alexander says,
With our innovative adoption of Lightning, we hope to take Bitcoin one step closer to being fully transactional. Bitcoin is an excellent store of value, but its potential really lies in it becoming the preferred payment method for consumers everywhere.
In detail, the Lightning Network is a layer atop the Bitcoin blockchain designed to enable faster and cheaper transactions by enabling user-generated channels for sending and receiving payments.
Since the emergence of the Bitcoin lightning network, many more exchanges have begun to adopt the technology. Besides its numerous advantages mentioned above, it also supports off-chain transactions as well. Recently, OKEx, the seventh-largest crypto exchange, began enabling support for the lightning network. Besides OKEx, other exchanges that also took this measure include OKCoin, River Financial, and Bitfinex.