Lightning Network adds another layer to Bitcoin’s blockchain and enables users to create payment channels between any two parties on that extra layer.
Depositing LN-BTC
In order to deposit LN-BTC to your Bitfinex account, follow the steps below:
- On the LN-BTC deposit page, enter the amount to deposit and select the destination wallet
- Click the Generate Invoice button.
- Copy the displayed invoice into your Lightning Network wallet or scan the QR code
An example of Lightning invoice:
Lntb1u1pwz5w78pp5e8w8cr5c30xzws92v36sk45znhjn098rtc4pea6ertfg3sdpywd6hyetyvf5hgueqv3jk6meqd9h8vmmfvdjsxqrrssy29mzkzjfq27u67evzu893heqex737dhcapvcuantkztg6pnk77nrm72y7z0rs47wzc09vcnugk2ve6sr2ewvcrtqnh3yttv847qqvqpvv398
Once your deposit is detected (the process might take 2-3 mins), you will see a “deposit is complete” message pop-up and your deposit will be visible in the “Recent Deposits” section.
Withdrawing LN-BTC
In order to withdraw LN-BTC from your Bitfinex account, follow the steps below:
- Generate an invoice in your receiving wallet.
- Paste the invoice into the corresponding field on the LN-BTC withdrawal page (as shown in the screenshot below).
- Select the wallet and click on Request Withdrawal
Please note, once the connection is established, your withdrawal will be sent.
LN-BTC - BTC conversion
Bitfinex’s currency conversion tool can be found on the Wallets page, enabling users to instantly convert BTC to LN-BTC and vice versa.
If you have any questions, you can always contact our support team for assistance.
