CoinCorner, the UK’s leading Bitcoin exchange, is excited to announce support for the Bitcoin Lightning Network, bringing free and instant transactions to its users.

CoinCorner is the first Bitcoin exchange in the UK to announce support for Lightning sends and receives, joining approximately 5 other exchanges around the world that support the scaling technology.

The Lightning Network is a “Layer 2” technology, built on top of Bitcoin’s blockchain technology, which uses micropayment channels to conduct transactions more efficiently. Transactions conducted on the Lightning Network are faster, less costly, and more readily confirmed than those conducted directly on the Bitcoin blockchain.

By adding Lightning payments, CoinCorner customers can now send and receive Bitcoin instantly and for free.

CoinCorner CEO, Danny Scott, said: “We’re excited to bring the benefits of the Lightning Network to our customers at CoinCorner. The ability to receive Lightning payments has been available to our merchant partners via CoinCorner Checkout for a little while now, but full send and receive support for Lightning now means our customers can take advantage of free and instant Bitcoin transfers.

Bitcoin users want more efficient transactions - they want to be able to send and receive Bitcoin without having to wait for confirmations or experience high withdrawal fees - and the Lightning Network is the answer to this.

We hope to see more Bitcoin companies join us in adding support for Lightning, as it will only help strengthen the infrastructure and secure the future of Bitcoin.”