Buda, one of Chile’s largest cryptocurrency exchanges by trading volume, has recently introduced support for Lightning Network (LN) payments on its platform, to allow its users to experiment with the second layer scaling solution.
bitcoin Exchange Now Accepts Lightning Network Payments
According to a recently published , users will be able to pay via the using funds they have deposited on the exchange. To do this, all they’ll have to do is get an invoice from a vendor accepting LN payments, and then upload it on Buda’s website.
The post reads:
“If everything is ok with the details of your purchase, press the ‘Pay’ button and in moments you will receive a confirmation with the result of your payment. The bitcoin that you use will be deducted from your balance and the payment will appear in the list of recent bitcoin withdrawals.”
The post details that users can already pay for a few things using the LN, including hosting services on Bitlaunch; prepaid cards, vouchers, and games on ; books and art on CoinMall; and more.
The post adds, however, that payments made using the Lightning Network are using new technology that’s still in an experimental phase and, as such, there aren’t a lot of services accepting LN payments.
Buda further points to websites like , where users can pay for articles using the network, and Satoshi’s Place, a collaborative drawing platform where users pay per pixel. The technology has also recently been used by a programmer in Brazil to build a prototype of a
The Chilean exchange isn’t the first to experiment with the LN. Earlier this year, crypto-to-gold exchange Vaultoro revealed it was , limited to 100 satoshis per transaction because of its young age.
Crypto Industry in Chile
Notably, Buda recently made headlines after seeing Chile’s anti-monopoly court order two major Chilean banks to re-open its accounts. As CCN reported, Buda had filed a lawsuit against ten banks, including those : Itau Corpbanca and Banco Estado.
The lawsuit came after the country’s top cryptocurrency exchanges — Buda, Crypto MKT, and Orionx — saw local banks with no proper explanation in April. The Fourth Chamber of the Court of Appeals of Santiago also ruled later that Banco Estado had to .
Back in May, Chile’s central bank revealed that it was considering implementing cryptocurrency regulations to “” with the nascent market. Crypto adoption has been growing in the country, as Crypto MKT recently integrated a payment processor to let the country’s citizens .
Editor’s Note: Some statements have been translated from Spanish.
Images from Shutterstock
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Published at Fri, 12 Oct 2018 23:15:57 +0000
