Dear BitMart users,
BitMart is thrilled to announce the official integration of the BTC Lightning Network on the platform. This groundbreaking development empowers BitMart users to experience significantly faster and more cost-effective BTC transfers, revolutionizing the trading experience. BitMart users can now enjoy BTC Lightning Network for both deposits and withdrawals.
What is the Bitcoin Lightning Network?
The Bitcoin Lightning Network is a significant layer-2 solution built on the Bitcoin blockchain, playing a pivotal role in improving blockchain scalability. Out of all layer-2 solutions, the Lightning Network stands out as a critical component, given its strong affiliation with Bitcoin and its capacity to enhance the utility value of the chain.
How to deposit BTC via the Bitcoin Lightning Network?
1. Log in to your BitMart account and click [Deposit] under Spot.
2. Choose BTC under Deposit Crypto.
3. Choose [BTC-Lightning] under the available networks for depositing BTC.
4. Enter the amount you want to deposit. Click [Create Invoice]. BitMart has set the limits for BTC Lightning Network deposits between 0.000001 BTC and 0.1 BTC.
5. You will see your Invoice number pop up with a QR code. Click [Copy Invoice Number] to copy and paste your BTC deposit invoice into the designated field on the platform from which you plan to withdraw BTC. Please note: Invoice numbers are refreshed every 3,600 seconds (60 minutes). If an invoice number remains unused for 60 minutes, it must be refreshed to obtain a new one.
How to withdraw BTC via the Bitcoin Lightning Network?
1. Log in to your BitMart account and click [Withdraw] under Spot.
2. Choose BTC and [BTC-Lightning] as the network. Copy and paste the invoice number that you would like to withdraw. BitMart has set the limits for BTC Lightning Network withdrawal between 0.000001 BTC and 0.1 BTC.
3. Click [Confirm] to proceed. To avoid permanent loss of assets, please ensure that all information is accurate and the correct network is selected before confirming the transaction.
4. Authenticate the transaction using your 2FA devices.
Once you have confirmed the withdrawal request, kindly remain patient while the transfer is being processed.
Important Notes:
- BTC Lightning Network Deposit/Withdrawal Limits: BitMart has set the limits for BTC Lightning Network deposits and withdrawals between 0.000001 BTC and 0.1 BTC.
- Currently, BitMart has established two channels with ACINQ, two channels with Kraken, and one channel with OKX.
- BTC Lightning Network Invoice Number: Unlike other token wallet addresses, BTC Lightning Network wallet addresses are referred to as "invoice numbers". These invoice numbers are updated every 3,600 seconds (60 minutes). Notably, the invoice number becomes invalid after a single withdrawal by the user. If an invoice number remains unused for 60 minutes, it must be refreshed to obtain a new one.
Attention: Use of BitMart services is entirely at your own risk. The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance.
BitMart Team
July 31, 2023
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