Cash App Users Can Now Send and Receive Bitcoin Via Lightning Network

October 26, 2022

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Cash App Users Can Now Send and Receive Bitcoin Via Lightning Network

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Cash App has added support for the Bitcoin lightning network as per information disclosed by the Bitcoin Product Lead Michael Rihani on Twitter on October 25.

With this announcement, 40 million Cash App users can now send and receive Bitcoin through the Bitcoin lightning network.

You can now receive #bitcoin instantly via the Lightning Network in @CashApp! ⚡

– Open Cash App
– Money tab -> Bitcoin
– Share QR code or link

What do you think?

Try it by sharing your link below ???? pic.twitter.com/rg1BbzyLMB
— Michael Rihani⚡️ (@MichaelRihani) October 25, 2022

According to the Cash App website, the Bitcoin lightning network “typically little to no fees involved, and it’s used to send smaller amounts of Bitcoin.” The website also added that there is a $999 limit every seven days with the lightning integration.

Cash App is a mobile payment platform owned by fintech giant Block, formerly Square, the payment company is run by Jack Dorsey, a former CEO of Twitter.

The App is majorly for US and UK people and with this, it boasts up to 40 million users in those countries.

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Bitcoin Lightning Network

The lightning network is a “second layer solution, it works to speed up Bitcoin transactions so that Bitcoin can be used to make smaller transactions. It does this through channels without the need to use the main Bitcoin blockchain, instead settling those transactions later.

This network will help in the widespread adoption of the world’s largest digital asset due to its ease of involvement in everyday transactions.

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