Cash App s Can Now Send 2p1p53 Receive Bitcoin Payments via the Lightning Network

The Lightning Network is Bitcoin’s primary layer-2 payments network. 265z2u

Written by Shomik Sen Bhattacharjee, Edited by Siddharth Suvarna | Updated: 26 October 2022 16:53 IST

Cash App s Can Now Send, Receive Bitcoin Payments via the Lightning Network

Photo Credit: Unsplash/ Mariia Shalabaieva 1a3oe

Cash App now essentially lets s receive Lightning payments too

Highlights

Cash App boasts over 44 million monthly s
The new service is only available to s in the US
Cash App s could send BTC through the Lightning Network since January

ment

Cash App s can now send and receive Bitcoin using the Lightning Network. Cash App Bitcoin Product Lead Michael Rihani announced the news today via Twitter and the platform's help page confirmed it. Until now, Cash App s could only send Bitcoin via the Lightning Network. But now they can also use the solution to receive the cryptocurrency, too. The Lightning Network is a "second-layer solution" that works to speed up Bitcoin transactions so the cryptocurrency can be used to make smaller purchases.

The Cash App website says that with Lightning there are "typically little to no fees involved, and it's used to send smaller amounts of Bitcoin." There is a $999 (roughly Rs. 82,185) limit every seven days with the Lightning integration, according to the site.

This feature is currently available to Cash App customers in the United States, except residents of New York State.
— Michael Rihani⚡️ (@MichaelRihani) October 25, 2022

The process for transacting in Bitcoin through Cash App is simple. First, a goes to the app, opens the “Money Tab”, selects Bitcoin, and then a QR code or link will be generated allowing s to transact with other Lightning-enabled wallets.

Currently, the feature is available across all of the US, except for the state of New York. Thus, as long as s are interacting with other Lightning wallets, Cash App s can choose to send or receive BTC from the app in the US, per a statement from Rihani. In order to use this new functionality s are required to update to the latest version of the app, which is ed on both Apple iOS and Android mobile devices.

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Jack Dorsey. Despite the app being available only in the US and UK, the platform boasts of over 44 million monthly s.

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In April, Block announced a "paid in Bitcoin" service for Cash App s, which allows people to receive all or a portion of their paycheck in cryptocurrency.

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