The world of cryptocurrency is changing the way we do transactions by focusing on making them faster and cheaper. The popular crypto exchange, Coinbase, has made a big move by supporting the Lightning Network. This decision follows the lead of other major exchanges like Bitfinex, Kraken, and Binance, making it easier and more economical for users to send, receive, or pay with Bitcoin.

Coinbase, the biggest crypto exchange in the USA, now allows users to make Bitcoin transactions directly from their accounts. This new feature provides an alternative to the traditional on-chain transactions, which were known for being slow and expensive. The Lightning Network, which Coinbase has integrated, is a protocol built on the Bitcoin Blockchain that allows for fast and low-cost transactions through bi-directional payment channels.

With fixed base fees and a percentage based on the payment value, Lightning transactions on Coinbase have a fee of 0.1% and are completed within seconds. According to the exchange, these costs are 20 times lower than those of credit card transactions and much cheaper than bank transfer fees.

This integration allows users to choose between Lightning transactions and the basic Bitcoin layer for withdrawing and paying. However, details about the supported regions have not been fully disclosed. By joining forces with the Lightning Network, Coinbase is playing a significant role in making cryptocurrencies more accessible and easier to use. This move reflects the exchange's commitment to providing users with a quicker, more cost-effective, and efficient transaction experience.