Kraken Exchange Integrates Bitcoin Lightning Network – Users Can Trade BTC With Almost 0 Fees

Kraken Exchange’s users have a reason to celebrate. The exchange has just integrated Bitcoin Lightning Network. Check out the relevant tweet below.

Kraken customers can now instantly deposit and withdraw #bitcoin with nearly no fees through the Lightning Network.@namcios covers the news:https://t.co/3qwHqwt5rf

— Bitcoin Magazine (@BitcoinMagazine) March 31, 2022

As per Bitcoin Magazine, the users of this exchange can now deposit and withdraw up to 0.1 BTC with instant and cheap Lightning payments.
Kraken is running an LND Lightning node.

It’s great that Kraken now supports Bitcoin’s Lightning Network for inexpensive and instant customer deposits and withdrawals of BTC, the company said in a statement sent to Bitcoin Magazine.

“Adoption is going to come from people who have fiat in their bank account, and they need to get it into Bitcoin,” Pierre Rochard, Bitcoin product manager at Kraken, told Bitcoin Magazine.

“Kraken is providing an excellent venue for them to do that, and then they can top up their mobile Lightning wallet and use it as a medium of exchange. That’s clearly the next step in terms of Bitcoin’s evolution.”

With this move, Kraken joined the Lightning Network with its own Lightning node. The crypto exchange also said all of its clients can now use the new integration, which allows deposits and withdrawals of up to 0.1 BTC, or 10 million satoshis, per transfer.

“Lightning is a lot more efficient than on-chain Bitcoin while also still relying on on-chain Bitcoin’s security, so it really is the best of both worlds,” Rochard said.

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $45,669.

There are various optimistic predictions about the price of Bitcoin these days and we addressed one earlier. The popular crypto analyst Nicholas Merten explained that Bitcoin is in the middle of a push to $70,000, with one critical resistance level left in play.