OKEx says it will integrate the Lightning Network, a second tier bitcoin payment technology in the second quarter of two thousand and twenty first year.
The addition of Lightning will reduce both bitcoin transaction fees and time, which in turn will improve the user experience of the exchange.
Exchange users will be able to select the Lightning Network as an option when depositing and withdrawing bitcoins, allowing them to send and receive cryptocurrency in very fast.
Amid high activity in the bitcoin bull market, the average fee within the bitcoin network is about fifteen dollars at the time of publication, while transaction confirmations have recently varied from thirty minutes to several hours.
OKEx said such statistics discourage users from interacting with the bitcoin network.
What is OKEx? OKEx is the world’s leading cryptocurrency and offers the most diverse trading platform where global crypto traders, miners and institutional investors come to manage crypto assets, expand investment opportunities and hedge risks.
OKEx provides spot and derivatives trading, including futures, perpetual swaps and options, on major cryptocurrencies, offering investors the flexibility to formulate their strategies to maximize returns and mitigate risk.