WhiteBIT, a Swiss crypto exchange ranked 17th by transaction volume according to CoinGecko data, announced on Thursday that it has integrated the Lightning Network to enable faster bitcoin deposits and withdrawals on its platform. The integration, powered by BTC infrastructure provider Voltage, is now live.
Lightning Network is a second-layer solution for Bitcoin that settles payments off-chain rather than recording them on the public blockchain. The network launched in 2018 and has seen transaction volume surge this year as exchanges adopt it to move funds at low cost and high speed.
WhiteBIT’s deposit fee for Lightning transactions is 0.25%, while withdrawal fees are 0.15%. The platform joins major exchanges including Coinbase and Kraken in offering Lightning support to users.
Volodymyr Nosov, WhiteBIT Founder and CEO, said in a statement: “WhiteBIT’s mission is to make blockchain technology accessible and widely adopted by delivering practical, user-friendly solutions for digital assets. Adding Lightning support brings us closer to this goal as we are making Bitcoin faster and more useful for customers who want to top up accounts, send and receive funds, and use Bitcoin across more real-world flows.”
Lightning payments offer more privacy than Bitcoin’s main chain since they are not recorded on the public blockchain. The network was previously promoted for smaller transactions such as tipping or buying coffee, but has expanded in use as institutional and retail platforms have adopted it for larger fund movements.
