Foldapp, a platform that enables users to spend their bitcoin (BTC) at various retail stores in the United States, including Starbucks, has added support for the Lightning Network, Bitcoin’s Layer-two scaling solution. With this, it is now to possible for users to pay with bitcoin in a super fast and cheap way, according to a blog post on July 10, 2019.
Fold Integrates Lightning
With the integration of Lightning, Fold says all users of its platform can now spend their satoshis instantly, with nearly zero fees at various retailers including Uber, Target, Starbucks, Southwest Airlines, and Whole Foods to mention a few.
“While Lightning revolutionizes the payments experience, you can still expect the same exciting features that make Fold unique: no KYC, no hidden markups, no altcoins and entirely non-custodial. Fold preserves the way Bitcoin is meant to be used.”
How it Works, Other Exciting Features
Fold says users can make payments via the Lightning Network on Foldapp by simply choosing the exact retailer to be paid from the list of supported merchants on the app, then open their Lightning wallet and pay the invoice. Users can also pay in-store through barcode or online via alphanumeric code, says Fold.
Despite the super volatile nature of the world’s flagship cryptocurrency, bitcoin (BTC), Fold firmly believes that Bitcoin remains the best way to make payments, as it preserves privacy, resists censorship and is natively borderless.
“Against that backdrop, we build products that make spending bitcoin a no-brainer, making it as easy to use, rewarding and widely accepted as a credit card,” declared Fold.
In addition to Lightning, the Fold team says it has added other features to the platform including an expanded list of participating retailers, new ways to earn satoshis, user rewards and more partner wallet integrations.
Since the release of the Lightning whitepaper by Joseph Poon and Thaddeus Dryja in 2016 and the initial launch of lnd 0.4-beta for developers by Lightning Labs CEO Elizabeth Stark in March 2018, the Bitcoin Lightning Network has gained significant traction in the cryptospace.
In June 2019, BTCManager informed that Bitrefill had integrated Lightning Network for Coinbase users through a product dubbed Recharge.