• Coinbase – the largest and most popular crypto exchange in the U.S. – has confirmed it’s going to be integrating the bitcoin Lightning Network onto its platform.
• The Lightning Network helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with.
• Coinbase recently announced they received a Wells notice from the Securities and Exchange Commission (SEC), which warns of potential charges in the future.
Coinbase Integrates BTC Lightning Network
Coinbase – the largest and most popular crypto exchange in the U.S.– has confirmed it’s going to be integrating the bitcoin Lightning Network onto its platform, thus ensuring bitcoin transactions scale and move along at quicker paces. The idea is that it helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with. Removing some of these lesser transactions from the BTC mainframe allows bitcoin to move faster when being transferred between wallets, as well as making transactions more cost-effective.
Get Paid For Signing Up To Coinbase
Coinbase also offers an incentive for new users who sign up; they can get $12 bonus just for signing up! Additionally, there is a referral bonus up to $3,000 for those who refer their friends or family members to join Coinbase too!
SEC Investigating Coinbase
The news involving the Lightning Network comes at an interesting time given Coinbase is dealing with quite a bit right now; they recently announced they received a Wells notice from the Securities and Exchange Commission (SEC). This gives them time to prepare and get a good legal team to fight on their behalf if any charges are brought against them in future.
Lightning Is Great Says CEO Brian Armstrong
The news surrounding this integration was announced on Twitter by Brian Armstrong,the CEO of Coinbase who stated: “Lightning is great and something we’ll integrate.“ This statement was echoed by Gabor Gurbacs – a crypto entrepreneur and advisor to Van Eck – saying: „Looking forward to seeing Lightning support on Coinbase.“
Conclusion
It’s hard to know if Coinbase has truly done something wrong or if this is just another attempt on part of SEC’s attempt to ensure crypto innovation dies in US but one thing is certain that adding lightning network will ensure faster transaction speed & lower costs while transferring Bitcoin between wallets!