Fun

Bitpay Adds Lightning Network, Youth Fashion Brand Pacsun to Accept Payments via Lightning

News Feed - 2022-04-07 02:04:17

Bitpay Adds Lightning Network, Youth Fashion Brand Pacsun to Accept Payments via Lightning


On April 6, one of the largest cryptocurrency payment platforms in the world, Bitpay, announced the Atlanta-based company has integrated bitcoin payments via the Lightning Network. According to the announcement on Wednesday, the youth-focused American retail clothing brand Pacific Sunwear (Pacsun) will be the first merchant to leverage Bitpay to accept Lightning Network payments. Payment Platform Bitpay Adds Lightning Network Support, Pacsun Accepts Lightning Payments


Bitpay is now allowing bitcoin payments via the Lightning Network (LN) in order to allow bitcoin users to pay using the crypto asset’s second layer network. Before adding LN payments, Bitpay accepted bitcoin (BTC) via onchain, alongside bitcoin cash, ethereum, wrapped bitcoin, shiba inu, xrp, and a slew of stablecoins. Bitpay says users and merchants can now utilize the LN payment rail with wallets like Cashapp and Strike.


“Consumers now have a low-cost alternative when paying with Bitcoin at a Bitpay-enabled merchant,” the company said on Wednesday. According to the announcement sent to Bitcoin.com News, merchants don’t need to change anything to accept LN payments. Customers will simply need to choose from over 100 LN-enabled wallets, the Atlanta-based crypto payments firm further detailed.


“Bitpay’s integration with the Lightning Network offers customers more choice and merchants more ways to be paid leveraging blockchain technology,” Tony Gallippi, Bitpay’s co-founder, explained in a statement. In addition to the LN support announcement, Bitpay revealed that the youth-focused retail clothing brand Pacsun will be the first merchant to accept LN payments via the integration.


Pacsun first revealed it would accept 11 crypto assets through Bitpay on October 5, 2021. At the time, Pacsun said it witnessed a demand for alternative payments as it saw an ​​“increasing desire towards cryptocurrency.” Mike Relich, the co-CEO of Pacsun, explained that the company was “excited to be one of the first Bitpay partners to accept bitcoin payments using the Lightning Network.” Relich added: Lightning Network [support] provides our customers with instant payments and exceptionally low network fees, and creates more opportunity for all holders of bitcoin to shop online at Pacsun.


The Lightning Network is a layer two (L2) payment protocol created by Joseph Poon and Thaddeus Dryja in February 2015. The L2 network has both limitations and benefits and some beneficial prospects include atomic swaps, granularity enhancement, speed, and privacy. At the time of writing, the L2 routing network’s capacity is $164.6 million total value locked (TVL) or roughly 3,700 BTC. Tags in this story Bitcoin, Bitcoin (BTC), Bitcoin Payments, BitPay, Bitpay Lightning Network, cashapp, Customers, Joseph Poon, lightning network, Lightning Network payments, Lightning Network support, ln, LN Payments, LN Support, LN Wallets, Merchants, Mike Relich, Pacsun, Strike, Thaddeus Dryja, Tony Gallippi


What do you think about Bitpay adding Lightning Network support? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Russia’s Sberbank Denies Involvement in Recently Launched ‘Sbercoin’ NEWS | 11 hours ago Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin NEWS | 15 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Exchange LBank and ETHDubai Partner for an Exclusive Meet-Up Next articleUkrainian Charity Organization Launches NFT Sale Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItNFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay


According to the firm Moonpay, the non-fungible token (NFT) marketplace Opensea plans to accept credit card payments using the company’s payment infrastructure. The move follows Opensea gathering $23.5 billion in all-time sales volume, and the company’s recent Solana support announcement. ... read more.Leading NFT Marketplace Opensea to Add Solana Support in April Indian Government Consulting With IMF, World Bank on Crypto Policy Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says With Over 90% of BTC"s Supply Issued, Bitcoin"s Mining Difficulty Reaches a Lifetime High

News Feed

Market Expert Predicts Bitcoin Could Reach $100,000 Within 90 Days
Este artículo también está disponible en español. Despite the Bitcoin price consolidating between $65,000 and $68,000 over the past few days, analysts are increasingly op
Derek Andersen3 hours agoVodafone, Sumitomo team up with Chainlink to explore trade documents networkVodafone’s Digital Asset Broker platform and Sumitomo have been working together since May on this proof-of-concept.1
Report Claims Harvard, Yale, and Brown University Endowments Have Been Discreetly Buying Bitcoin
Report Claims Harvard, Yale, and Brown University Endowments Have Been Discreetly Buying Bitcoin According to sources familiar with the matter, a number of Ivy L
Crypto Experts Give Their Top Predictions for 2020
Crypto Experts Give Their Top Predictions for 2020 In an industry built around digital scarcity, opinions are in plentiful supply. Everyone’s got one, and they’d love
Dogecoin Eyes 100% Rally As Key Resistance Nears Breakout: Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Spanish court denies Worldcoin’s injunction request against regulator
David Attlee14 hours agoSpanish court denies Worldcoin’s injunction request against regulatorSam Altman’s company will have to freeze its operations in Spain for the next three months.4174 Total views4 Total sharesLi
Plotting the path to $80K — 5 things to know in Bitcoin this week
William Suberg13 hours agoPlotting the path to $80K — 5 things to know in Bitcoin this weekBTC price gains before the Wall Street open as CPI week appears to set the tone for the incoming Bitcoin halving.10038 Total vi
Original Bitcoin Wizard Artist Raises Nearly $150,000 in BTC via Lightning, Despite Criticism From Bitcoin Maximalists
Original Bitcoin Wizard Artist Raises Nearly $150,000 in BTC via Lightning, Despite Criticism From Bitcoin Maximalists On Monday, crypto proponent Udi Wertheimer shared a story on
Blockchain Retail Market Size to Top Over $2 Billion by 2028 — Study
Blockchain Retail Market Size to Top Over $2 Billion by 2028 — Study According to Fortune Business Insights, the global blockchain retail market size is expected to surge from th
Bitcoin, Ethereum Technical Analysis: BTC, ETH Stall Ahead of Powell Testimony
Bitcoin, Ethereum Technical Analysis: BTC, ETH Stall Ahead of Powell Testimony Bitcoin remained in consolidation earlier in Tuesday’s session, as markets prepared for this a
BlackRock begins asset tokenization with launch of digital liquidity fund
Derek Andersen2 hours agoBlackRock begins asset tokenization with launch of digital liquidity fundThe world’s largest asset manager has taken “the next step forward” toward a single ledger, instantaneous settlement
TemDAO World Heritage Project Helps the Cultural Sector through Democracy-Fueled Donations
TemDAO World Heritage Project Helps the Cultural Sector through Democracy-Fueled Donations press release PRESS RELEASE.Tokyo, Japan, April 11th 2023, Chainwire.TemDAO is a world her