The Lightning Network is a layer 2 protocol that operates on top of Bitcoin's blockchain; it enables fast bitcoin transactions from your Bitaroo Account.
To withdraw bitcoin via the Lightning Network:
1. On the app, go to 'Withdraw', or on the web platform, go to 'Account' → 'Withdraw'.
2. Switch Lightning to 'On'.
3. Choose a LN withdrawal method:
a. Withdraw to LN Address: insert the address (name@domain) and amount (or click 'Max').
or
b. Pay LN Invoice: Paste the invoice you wish to pay (with pre-filled amount).
4. Click 'Confirm Withdrawal'.
Once confirmed, the transaction should be processed almost instantly.
Lightning withdrawal fees
See all fees here.
Transaction Did not Process?
Sometimes, Lightning transactions may not complete. This usually occurs when there is not enough inbound capacity to the receiving wallet or if a route to the wallet cannot be found.
The payment will eventually succeed or fail, but it may take up to 24 hours.
If the payment fails, the full withdrawal amount will be returned to your Bitaroo account, with no fees applied.