The Bitfinex cryptocurrency exchange in partnership with Bitrefill to allow users of the exchange to buy online

The Bitfinex cryptocurrency exchange in partnership with Bitrefill to allow users of the exchange to buy online

By Roberto D. | CryptoFarm | 5 Dec 2019


We all know Bitfinex, it is one of the biggest exchanges on the market and also one of the most talked about, the site in question is Bitrefill, it is a site that allows you to make online purchases in bitcoin and that includes gift cards in its vast offer that allow, among other things, to buy on amazon, all spending on bitcoins; according to a press release issued yesterday, the two companies have entered into a partnership that aims, using the potential of the Lightning Network, to allow users of the exchange to spend their coins directly on Bitrefill. While until today users would have to send money from the Bitfinex account to their wallet and then from this to the Bitrefill platform, from today it is possible to skip this step which translates, in a nutshell, into savings on commissions and in a great convenience. Thanks to this new partnership, therefore, users will be able to purchase over 2,000 different prepaid vouchers with Bitcoins, relating to companies operating in sectors such as gaming, catering, entertainment, travel, as well as, as mentioned, on the main ecommerce; in this way, when Bitfinex users buy products from Bitrefill, the transaction will be executed instantaneously through the channel opened by the two companies on Lightning Network at practically zero costs.

 

John Carvalho, Chief Commercial Officer of Bitrefill, said he was convinced that the opening of Lightning Network payment channels between exchanges and the platform is fundamental both for the growth of the project and for the growth of bitcoins; more in detail Carvalho stated that:

We believe that all this is fundamental to prepare for the next wave of adoption and build a parallel economy for Bitcoins. For this reason we will continue to work closely with Bitfinex and other companies in order to develop solutions and Lightning products capable of transforming the cryptocurrency reality, removing any need to change with fiat currency

In short, this type of partnership shows well how the Lightning network will work in the future, as there will be more and more nodes in circulation and more and more payment channels it will be possible to spend bitcoins without problems, quickly and without commissions even with significantly higher volumes than to the current ones, while intermediaries, such as Bitrefill or Bitfinex itself, will handle the necessary exchange operations.

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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