How to Use the Lightning Network on Bitoff

What is the Lightning Network?

The Lightning Network is an advanced technology that enables faster and cheaper Bitcoin transactions. By using this network, you can increase transaction speed with significantly lower fees.

Section 1: Depositing via the Lightning Network





Log in to Your Account

Start by logging into your account on Bitoff. If you don’t have an account, register first.

Select the Deposit Option

From the main menu, choose the Deposit option.

Choose Bitcoin and the Lightning Network

- Select Bitcoin (BTC) from the available currencies.

- In the network selection section, choose Lightning Network.

Create an Invoice

- Click on the Create Invoice button.

- Enter the amount of Bitcoin you want to deposit.

- A unique address or QR Code specific to the Lightning Network will be generated.

Pay the Invoice Using Your Lightning Wallet

- Open your Lightning Wallet.

- Scan the QR Code or copy the invoice address.

- Confirm the payment in your wallet.

Confirm the Deposit

After completing the transaction, your deposit status will be updated instantly in your account.

Section 2: Withdrawing via the Lightning Network



Log in to Your Account

Log into your Bitoff account.

Select the Withdraw Option

From the main menu, choose the Withdraw option.

Choose Bitcoin and the Lightning Network

- Select Bitcoin (BTC) from the available currencies.

- In the network selection section, choose Lightning Network.

Enter an Invoice

- Generate a new invoice in your Lightning Wallet.

- Copy the invoice code and paste it into the corresponding field on Bitoff.

Confirm the Withdraw Amount

Check the amount of Bitcoin you wish to withdraw and confirm the request.

Pay the Network Fee and Process the Transaction

- The Lightning Network fee will be displayed.

- Once confirmed, the Bitcoin will be transferred to your Lightning Wallet.

Track Your Transaction

You can view the transaction status in your account's history section.

If you have any questions or face issues, feel free to contact the Bitoff support team.

Updated on: 17/11/2024