Cryptocurrency Q&A
Can you send bitcoin over the Lightning Network?
Can you send bitcoin over the Lightning Network?
WindRider
Sun Jul 14 2024
|
7 answers
1880
Could you elaborate on the feasibility of sending Bitcoin transactions over the Lightning Network? I'm particularly interested in understanding if this network provides a more efficient means of conducting transactions compared to the traditional Bitcoin blockchain. Do transactions over the Lightning Network enjoy faster confirmation times and lower transaction fees? Are there any limitations or considerations I should be aware of before utilizing this network for Bitcoin transfers? I'm keen to learn more about how it works and its potential benefits for Bitcoin users.
7 answers
ShadowFox
Tue Jul 16 2024
Once the channel is opened, the parties are at liberty to transfer Bitcoin to each other without any restrictions.
Was this helpful?
383
21
CryptoTitaness
Tue Jul 16 2024
The amount that can be sent via this channel is only limited by the initial deposit made when the channel was created.
Was this helpful?
182
38
SakuraSmile
Tue Jul 16 2024
For the facilitation of Bitcoin payments over the Lightning Network, establishing a new Lightning channel becomes imperative for transacting parties.
Was this helpful?
275
85
SakuraSpirit
Tue Jul 16 2024
This deposit serves as a collateral for the transactions occurring over the channel, ensuring security and trust.
Was this helpful?
178
25
MysticInfinity
Tue Jul 16 2024
As the parties continue to transact, the balance in the channel changes accordingly, reflecting the net sum of Bitcoin sent and received.
Was this helpful?
389
76
Load 5 more related questions
