Non-custodial Peer-to-peer Bitcoin Exchange HodlHodl Launches Lightning Network Support

June 6, 2019 7:40 AM UTC

 

Peer-to-peer Bitcoin exchange HodlHodl has disclosed in a report from a source of June 5, support for Lightning Network on the platform.

The exchange stated that users will be able to receive and transfer Bitcoin directly through the Lightning Wallet. According to the report, the peer-to-peer exchange has been testing the Lightning Network on its platform for sometime now and is apparently ready to integrate in into the exchange.

In addition to the report, the procedure for receiving and transferring Bitcoin via the Lightning Network will not be much different from the usual HodlHodl method of exchange they are used to, it disclosed:

“The only difference is that for the contract lifetime we hold funds in our Lightning wallet which protects both buyer and seller from scams, and the contracts become cheaper, faster and simpler.”

The exchange also stated that the integration of the Lightning Network of the platform will not in any way alter the normal functioning of the exchange as regular Bitcoin on-chain multisignature contracts on the platform will still be non-custodial.

This development comes amid reports from rival peer-to-peer exchange LocalBitcoins which has cut-out crypto for cash-in-person option from its platform.

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