Dear NiceHash users!

A few weeks ago, we have announced our official support for the Lightning Network (LN). The purpose of the Lightning Network is to solve the scalability problem of the Bitcoin blockchain. In short Lightning Network is a second layer protocol on the Bitcoin network that allows fast transactions with lower fees. Lightning Network allows participants to create smart contracts and allows all transactions between these participants practically instantaneously. Transactions between participants inside the contract are made off the blockchain. Only the first deposit to contract (creating the contract) and the last withdrawal (closing the contract) is seen on the blockchain.

Below you can see information to connect to our Lightning Network Node. We invite everyone to open a channel with us so we can grow the network together! If you want to connect to our LN node click here for instructions.

Please note that Lightning Network is currently still in the experimental phase. Use it at your own risk, and with smaller amounts. 

Zero fees for deposits and withdrawals!

All users can now deposit and withdraw Bitcoin using Lightning Network! If you go to your Bitcoin (BTC) wallet and click deposit you should see the LN tab (as shown below). The Lightning Network currently allows a maximum channel size of 0.167 BTC and we have set the withdrawal limit to 0.15 BTC so make sure you try with smaller transactions first. If you establish a direct connection to the NiceHash Lightning Network node, you will not pay any fees for transactions! If routing will be necessary to complete your transaction, you may pay some fees (usually up to a few satoshis). 

If you want to learn more about Lightning Network, read the following blog post.

If you have any questions regarding the use of Lightning Network or connecting to NiceHash LN Node do not hesitate to open a support ticket.

Your NiceHash team!