Cryptocurrency Q&A
What network does Coinbase use for BTC?
What network does Coinbase use for BTC?
Federica
Mon Dec 02 2024
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5 answers
903
Coinbase uses the Ethereum network for its wrapped BTC (cbBTC). This allows BTC to be used on the Ethereum network, mainly for DeFi applications. The cbBTC is backed by 1:1 Bitcoin reserves and is designed to enhance Bitcoin's accessibility in the DeFi space.
5 answers
DigitalLordGuard
Wed Dec 04 2024
To utilize the Lightning Network for transactions, it is necessary to transfer some BTC.
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CryptoBaron
Wed Dec 04 2024
This can be done by sending BTC from your Coinbase account to a wallet that is compatible with the Lightning Network.
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CharmedWhisper
Wed Dec 04 2024
A variety of Lightning-compatible wallets are available for users to choose from.
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EthereumElite
Wed Dec 04 2024
Among the popular options, both custodial and non-custodial wallets can be found.
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HanbokGlamourQueenElegance
Tue Dec 03 2024
Custodial wallets are those where a third party manages the private keys on your behalf, while non-custodial wallets allow you to retain full control over your private keys.
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