Coinbase enables fast Bitcoin transfers with Lightning Network

Coinbase Global announced on Tuesday that it will now allow users to opt for faster, low-cost Bitcoin transfers with the integration of Lightning Network in partnership with Lightspark.

“Until now, bitcoin transfers on Coinbase were processed onchain which could take anywhere from 10 minutes to 2 hours and could be costly for users. The Lightning Network, built on top of Bitcoin, enables instant off-chain bitcoin transfers at a fraction of the cost,” the company stated.

Coinbase noted that users will still have the possibility to process their transfers using the traditional Bitcoin network if they wish to do so.