What is Lightning Network?

Lightning is a payments network built on top of the Bitcoin network.

I’ll start by recommending that you watch this video presented by Swan Bitcoin. As a video creator previously for Q9 Capital, this is extremely well done, bravo!

Watch to the end, it covers everything you need to know in 6 minutes.

The Lightning Network is a way for people to send and receive Bitcoin payments.

FASTER.

CHEAPER.

It works by creating a separate network on top of the existing Bitcoin network. This new network is designed to handle smaller and faster transactions, so it can take some of the burden off the main Bitcoin network. A transaction on the Bitcoin layer 1 network can be considered irreversible after 30 minutes which is comparatively better than waiting for 5 days for your bank wire to clear.

But how about when you want to buy a coffee?

When you use the Lightning Network, it takes just seconds. Your payments can be processed faster and cost less compared to traditional Bitcoin payments.

I believe that Bitcoin will be used daily and using the Lightning Wallet will be the new way to transact once mass adoption occurs.

If you want to buy Bitcoin, I like using Swan. They are a Bitcoin only business that is focused on self-custody and educating their users. It's where I buy my Bitcoin. One feature I like is the auto self-custody function within the platform to enable you to automatically store Bitcoin offline. In another newsletter, I’ll show you how to set up a self-custody wallet.

There’s a lot to learn. I’ve guided many newbies in their first steps in opening accounts and wallets, so I’m here to help.

Use the link below to receive $10 free to get you started.

Get $10 of Bitcoin when you sign up

USD$10 = 42,710 SATS (Satoshi)

That’s enough to buy a few coffees!

Start small, build big.

I’ll talk about Lighting Wallets in the next newsletter and show you how to set one up.

This newsletter is for educational purposes. It is not financial advice.