ZebPay, initially an Indian-based cryptocurrency exchange which was forced to shut-down their services in India, now has come out with an announcement that they now accept Bitcoin Lightning Network payments. Zebpay customers now will be able to use their Bitcoin to make instant transactions. Primarily this is meant for all the Bitcoin enthusiasts who want to spend their Bitcoin like regular cash.
Earlier we reported that during the September of 2018, Zebpay needed to shut down their Indian services because of regulatory issues. This was the outcome of the all-out Indian ban on cryptocurrencies by the Reserve Bank of India. But now the company has successfully found a new place to reside – Malta. Within Malta, they can continue operating with their services. However, the company took a heavy hit because of this particular issue and went from $5 million in trading volume to around $17,000 at the moment, judging by coinmarketcap.com. Additionally, they only have two active trading pairs – BTC/EUR and XRP/EUR.
Paying with Lightning Network on ZebPay
ZebPay claims that by using their services Bitcoin Lightning Network users will be able to “buy virtually anything”.
“Just identify the store, copy or scan the invoice of the product or service you would like to avail from within your Zebpay account and hit send! Watch your Bitcoin payment shoot across the mainnet in milliseconds,” says on their website.
Also, as a very nice gesture, they are willing to show their users how exactly this works by making an actual test transaction. “..actual because you get to keep what you buy, and test because we will pay on your behalf,” says on their website.
Currently the maximum amount you can send using the Lightning Network is 0.001 BTC. However, this limit will be revised as they continue working on this.
Needless to say that by using LN on ZebPay you don’t have to pay any fees to the services associated.
Another company which had launched LN payments already some time ago is BitMEX. Earlier we reported that they not only set up their own Lightning Network node but they also published a very detailed article about LightningNetwork and LN payments in general. Have a read, it will be worth it! And start thinking about running your own Bitcoin Lightning Network node.
We’re happy to see more and more companies accepting Bitcoin Lightning Network. The more we are, the more recognition Bitcoin will get.