Binance and Coinbase silent on Bitcoin Lightning: Community tries to understand why
The Bitcoin Lightning Network integration started to take off among the cryptocurrency exchanges worldwide. However, some of the world’s largest crypto trading platforms seemingly are not in the hurry to integrate the protocol.
Last week, Robinhood crypto trading app became the latest major industry player to announce the Lightning integration, following in the footsteps of BitPay and the Kraken crypto exchange.
As the main goal of the Lightning integration is to reduce the cost of Bitcoin (BTC) transactions and accelerate the network transfers, one may wonder what cryptocurrency exchanges have still not added the Lightning support.
Not everyone is happy with the pace of Bitcoin LN adoption. David Coen, a software quality assurance tester and crypto enthusiast, is disappointed at the lack of progress for the Lightning Network integration among major crypto exchanges. He compiled data from official sources, social media presences and Lightning explorers like 1ML and Amboss, only to find out that Binance, Coinbase and the major South Korean crypto exchange Bithumb are not in the list of “Lightning exchanges.”
Despite providing comprehensive information about the Lightning Network on their websites, both Coinbase and Binance declined to comment on their potential Lightning Network integration plans to Cointelegraph.
FTX — which is not mentioned in Coen’s list — has refused to comment as well. In January last year, FTX said that it “probably pays more in transaction fees than any other single entity in the world” on its official Twitter account.
There are apparently a wide number of possible reasons why some of the world’s largest crypto exchanges have not added the Lightning support so far.
One Redditor suggested that the
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