The majority of major Bitcoin exchanges make you wait days or (all too often) weeks before you can start using your account. First, you wait weeks to get your account verified. Then you wait even longer to deposit funds into your account and start buying Bitcoin.With Wirex, you can instantly deposit funds into your account, then convert them straight to Bitcoin. No delays. No lengthy verification procedures. Pay the price YOU want to pay, not the one you get whenever your exchange decides to deposit your funds.
Heres what you need to get started with Wirex
Want to buy Bitcoin for the first time, or switch to Wirex from another exchange? Its quick, easy and free. You can sign up for a Wirex account in minutes, with no fees for opening an account - and youll immediately get a free virtual payment card.When youre ready to buy, simply verify your account to get access to all of our features. Unlike other exchanges, Wirex verifies your account in minutes, not weeks. Even if you require a manual check (necessary in some countries), youll still be good to go in under 2 days. All you need to do is provide us with some basic information about you, not heaps of personal details.As soon as your account is verified, you can add funds using a variety of payment methods. Wirex accepts bank transfer, credit cards, PayPal, Alipay and more in major currencies such as euros, dollars, pounds, yen, and others. You can even top up your account with Bitcoin from another wallet, or with altcoins like Ethereum, Litecoin, Monero, Namecoin, Zcash, Peercoin, and others. Were always adding new payment methods to ensure no one is left out.Once youve funded your account, you can instantly buy your desired amount of Bitcoin and have it deposited straight to your account.Its completely effortless and you dont need any technical knowledge. You can use our Bitcoin exchange and manage everything from one handy app, no matter where you are in the world.
Protect yourself and your family during financial crises
Financial disasters do happen. Just because there hasnt been one for a while or you havent experienced one during your life, that doesnt mean its not a risk. Fiat currencies can collapse with very little warning. Governments can seize YOUR money from YOUR account during severe budget deficits. Hyperinflation is still a big problem in many countries.You could wake up one day and find your bank account empty. You could also wake up one day and find that hyperinflation has reduced the value of your life savings to almost nothing. You could even be left helpless if your countrys major currency collapses.Thats why many people choose to keep Bitcoin in a secure Wirex wallet as a hedge against financial disaster. Bitcoin is decentralised and cant be seized by the government because it truly belongs to you. Keeping even a small part of your assets in crypto is a smart choice to protect you and your family in the event of a disaster. As Wirex offers the best security around, theres no safer place to store your money. In the event of a disaster, you can use your payment card to spend crypto online and in-store with no extra hassleFor instance, this is popular in countries like Argentina and Zimbabwe, where the local currency is volatile and the banks are prone to problems.
Dont miss out on investment opportunities
The best time to buy is naturally during a dip when you can get more Bitcoin for the same amount of money. But most exchanges are too slow for you to take advantage of investment opportunities. With Wirex, you can spot an opportunity and jump on it - anytime, anywhere.Sign up for a free Wirex account today and take control of your money with lightning fast deposit speeds.
FAQs
The Lightning Network uses smart contracts to establish off-blockchain payment channels between pairs of users. Once these payment channels are established, funds can be transferred between them almost instantly. Cleverly, the network doesn't need to create pairs between all users.
How to use Lightning Network on cash app? ›
To get started sending bitcoin with the Lightning Network:
- Tap the Payments '$' tab on your Cash App to get to the home screen.
- Tap the QR Scanner on the top left corner of the screen.
- Hold your camera over the Lightning Invoice QR code to scan it.
- Follow the prompts to confirm and pay the request.
This network of channels significantly increases the scalability and speed of Bitcoin transactions. While the Bitcoin network can process around 7-10 transactions per second, the Bitcoin Layer-2 Lightning Network has a throughput as high as 1 million TPS.
What is the Lightning Network analogy? ›
As a simple analogy, you can think of the Lightning Network as being like Venmo and the Bitcoin network as similar to sending a bank wire.
How do I receive my Lightning payment? ›
Open your wallet on the Lightning page. Click on “Receive.” Scan your QR code button on the payer's device or have the person enter the address manually. Confirm everything is correct and proceed with the checkout.
How do I withdraw money from my Lightning wallet? ›
How to Withdraw Bitcoin Through Lightning
- Here are the steps to withdraw Bitcoin through lightning. Visit Wallet>Withdrawal. ...
- OR. ...
- Select the asset i.e., Bitcoin (BTC)
- Then from the network dialog box choose “Lightning”
- Enter the invoice number from the wallet/exchange you are willing to deposit these tokens.
The Lightning Network serves as a second layer for Bitcoin (BTC), employing micropayment channels to enhance the blockchain's scalability and process transactions more efficiently and cheaply. A Lightning wallet is significantly faster, scalable, and more efficient than traditional on-chain transactions.
Is Lightning Network safe? ›
The Lightning Network utilizes multi-signature technology to ensure that transactions are secure. When a payment channel is established between two users, bitcoin is sent to a multi-signature address, which requires signatures from both parties to spend.
How do I send money through Lightning Network? ›
Click Transfer, then Send crypto. Select Bitcoin. Add your recipient's invoice, then select Continue. Our system will automatically recognize the requested amount and that it's being sent via the Lightning network.
Can Lightning transactions be traced? ›
Transactions on the Bitcoin blockchain can be traced from wallet to wallet. Using the Lightning Network, only the opening and closing of channels is recorded to the chain, meaning that most micropayments will be nearly untraceable.
The Lightning Network is a second-layer network intended to solve the problem of slow transaction speeds and high costs on the Bitcoin blockchain by introducing off-chain transactions. The Network allows users to open channels that can stay open until they are done transacting.
How much does a Lightning transaction cost? ›
Each Lightning Network payment requires a small fee. Usually, around $0.001, the fee is paid to the nodes which process the transaction, allowing them to keep their nodes well connected and increase the payment success rate.
What is Lightning Network on Cash App? ›
The Lightning Network is a technology that makes sending and receiving bitcoin instantaneous. And now it's on Cash App. It works with any Lightning-enabled wallet.
How to get Bitcoin lightning wallet? ›
Speed Bitcoin Lightning Wallet can be downloaded from the Google Play Store on Android and the App Store on iOS. Speed Wallet is also available on the Chrome Web Store on Desktop.
How many transactions can Lightning Network handle? ›
Because of this, it's possible that the Lightning Network could process up to 1 million transactions per second.
How much does a lightning transaction cost? ›
Each Lightning Network payment requires a small fee. Usually, around $0.001, the fee is paid to the nodes which process the transaction, allowing them to keep their nodes well connected and increase the payment success rate.
What is the lightning payment on Coinbase? ›
Lightning Network is a payment solution built on top of Bitcoin. It uses bitcoin transactions and time-locks to create nodes and channels that enable cheap and fast transactions. Typically, users need to wait at least ten minutes to have their transactions confirmed on the Bitcoin base layer.
Are lightning payments anonymous? ›
Those features make Lightning a perfect solution for the inconveniences of Bitcoin's layer 1. Comparison of transactions per second. In addition to this, Lightning Network is anonymous because the transactions are made off-chain the main Bitcoin network.
How do lightning wallets work? ›
A Bitcoin Lightning wallet usually is its own Lightning node where it allows payments to be routed through it to other nodes/destinations. At the same time, it also enables channels to be opened and to be the party initiating the transaction to someone else. The job of each Lightning node is to route payments.
