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Exchange Bitcoin Lightning Network to Trust Wallet Token (BEP2)

Exchange in 3 steps

  1. Enter the desired amount of Bitcoin (Lightning) and write your wallet address to receive currency.
  2. Click the "Exchange now" button and you will be taken inside your order.
  3. Send Bitcoin (Lightning) to the address from your order, after the required network confirmation, Trust Wallet Token (BEP2) will be sent instantly.

What do you need to know?

­You only need 1 confirmation of the Lightning Network for the exchange
­If an error occurs when sending BTCLN, then you need to open a channel with FixedFloat. Information on how to do this is in our article
­If you see the message "Payment in transit" when sending BTCLN, then there is a problem between intermediate nodes. You need to wait for the final invoice payment or refund
­Memo is the payment ID. If you need it when sending a transaction, be sure to include it

A brief history of the Lightning Network

The Bitcoin community has long been baffled by the scalability issue. The speed of transactions fell, and the network fees grew. In 2015 Thaddeus Dria and Joseph Poon proposed a solution called the Lightning Network. The idea was to carry out some of the transactions outside the network, thereby reducing the load on the BTC blockchain. In 2018, the Lightning Network was launched in Bitcoin.

The Lightning Network is a system that helps users move funds among themselves without having to use a blockchain to verify a transaction. Instead, there is a quick check of funds from the sender and a request from the recipient who agrees to the transaction.

Problems that may arise when sending Lightning Network

  1. If an error occurs when you try to send the Lightning Network, then most likely it happened due to the lack of channels. The Lightning Network requires links between nodes. If your wallet allows you to open channels yourself, then you can open a channel with FixedFloat.
    FixedFloat Node:
    037f990e61acee8a7697966afd29dd88f3b1f8a7b14d625c4f8742bd952003a590@lnd.fixedfloat.com:9735
    For more information on how to do this, see our article "How to start using the Lightning Network?".
  2. If you see a "Payment in transit" message when sending the Lightning Network, it means the Lightning Network has been sent, but there is a problem with intermediate nodes. You need to wait for the final invoice payment or refund.

Lightning Network Speed and Fees

Since transactions on the Lightning Network do not end up on the blockchain, they are almost instantaneous. But if one of the intermediate nodes is off the network, the transaction may be delayed.

The fee depends on the intermediate channels through which the payment passes. Usually it is almost zero. But it so happens that some channels charge a high fee for passing the payment. It can reach up to 1% of the amount.

A brief history of Trust Wallet Token

Trust Wallet Token (TWT) was created in March 2020 to develop the community and attract new users. Initially TWT was launched on the Ethereum blockchain (ERC-20), then moved to Binance Chain (BEP-2), and in October became available on Binance Smart Chain (BEP-20). Since its launch, Trust Wallet Token has been a success and is an important part of the Binance ecosystem.

What is a Memo and do I need to specify it?

There is an additional Memo field when submitting Trust Wallet Token. Memo is the ID of the payment. It is unique, and with its help the service identifies the sender and recipient. Many services have address protection, which does not allow transactions without Memo.

If it happened that you forgot to specify the Memo or specified it incorrectly:

  1. Check if the transaction went through. To do this, you can use the explorer.binance service.
  2. If the transaction is not confirmed, write to our technical support. We will help you resend it.
  3. If, nevertheless, the transaction went through, then, unfortunately, we will no longer be able to help. In this case, you should write to the technical support service of the service to which you sent it.

Binance chain Blockchain Speed

Binance chain is considered to be a fast blockchain. The transaction is confirmed in a few seconds.