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Exchange Bitcoin Lightning Network to Ethereum | FixedFloat

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Lightning cryptocurrency exchange

The Bitcoin community has long been baffled by the scalability issue. The speed of transactions fell, and the network fees grew. In 2015 Thaddeus Dria and Joseph Poon proposed a solution called the Lightning Network. The idea was to carry out some of the transactions outside the network, thereby reducing the load on the BTC blockchain. In 2018, the Lightning Network was launched in Bitcoin.

The Lightning Network is a system that helps users move funds among themselves without having to use a blockchain to verify a transaction. Instead, there is a quick check of funds from the sender and a request from the recipient who agrees to the transaction.

Problems that may arise when sending Lightning Network

  1. If an error occurs when you try to send the Lightning Network, then most likely it happened due to the lack of channels. The Lightning Network requires links between nodes. If your wallet allows you to open channels yourself, then you can open a channel with FixedFloat.
    FixedFloat Node:

Lightning Network Speed and Fees

Since transactions on the Lightning Network do not end up on the blockchain, they are almost instantaneous. But if one of the intermediate nodes is off the network, the transaction may be delayed.

The fee depends on the intermediate channels through which the payment passes. Usually it is almost zero. But it so happens that some channels charge a high fee for passing the payment. It can reach up to 1% of the amount.

Ethereum — the most innovative blockchain

Ethereum is a new blockchain that, in addition to sending cryptocurrencies, allows you to run and run smart contracts. With their help, you can create a variety of decentralized applications, including their own currencies (tokens). In addition to contracts, a big advantage among other blockchains is considered to be a fairly high speed of transactions.

My order is completed, but I do not see the funds in my wallet, what should I do?

We send Ethereum with an average fee so that the receiving party does not have to wait long for receipt. But sometimes, with the increased load on the Ethereum network, a transaction can get stuck in a mempool for a long time and not get into the block. The status of such transaction is \”Pending\”. Explorer etherscan.io provides information about the expected processing time of the transaction, but be aware that this value is not accurate and may vary depending on the situation.

If the transaction sent by us can not be confirmed for a long time, please contact our support with a request to push the transaction.

exchange in 3 easy steps

  1. Enter the desired amount of Bitcoin (Lightning) and write your wallet address to receive currency.
  2. Click the \”Exchange now\” button and you will be taken inside your order.
  3. Send Bitcoin (Lightning) to the address from your order, after the required network confirmation, Ethereum will be sent instantly.

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