Binance has announced that it has completed the integration of the Bitcoin Lightning Network into its BTC withdrawal and deposit platform.
In a blog post published by Binance on July 17, they stated that their users can now use the tier 2 scaling solution for BTC withdrawals and deposits. Users will now be able to select “LIGHTNING” as an option when they choose to withdraw or deposit BTC. Other options include BNB Smart Chain (BEP-20), Bitcoin, BNB Beacon Chain (BEP2), BTC (SegWit) and Ethereum ERC-20.
Demand for Lightning Network is growing
Binance had to temporarily pause BTC withdrawals due to a problem caused by the recent increase in BTC network gas fees. After this event, he pointed to the month of May, implying the integration of the Lightning Network. With the announcement of Binance’s Lightning Network, it was seen that other exchanges focused on this area. The most notable name among the relevant exchanges was Coinbase.
This system, which provides convenience to crypto investors and stock markets, is attracting more and more attention. Finally, Binance’s full activation of “LIGHTNING” brought the services related to the Tier 2 scaling solution to the fore. Currently, Binance has BNB Smart Chain (BEP-20), Bitcoin, BNB Beacon Chain (BEP2), BTC (SegWit), and Ethereum ERC-20 as investment-withdrawal options.
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