How do I deposit Bitcoin (BTC) with OKX’s lightning network?

Published on Aug 22, 2023Updated on Apr 4, 20244 min read27

What's Lightning Network?

The Lightning Network is utilized for deposits and withdrawals, allowing users to deposit and withdraw Bitcoin at a lower cost and with greater efficiency. Its goal is to facilitate microtransactions, the maximum trading limit is 0.05 BTC while the daily maximum trading limit is 0.5 BTC per user.

Here are some advantages of using Lightning Network:

  • Lightning Network has higher TPS (transactions per second). It's because it runs and trades off the chain before it adds back on the chain. Off-chain trading is faster than on-chain trading and aims to solve Bitcoin's low scalability problem. Currently, Bitcoin can only process 7 TPS, but Lightning Network can process thousands of transactions per second and has the potential to grow to one million TPS in the future.
  • The Lightning Network is designed with high efficiency and low fees, which is ideal for micropayments. Unlike on-chain BTC transactions, which are slow and expensive, transactions with Lightning Network can be approved in seconds and have lower fees on average.

How can I make a deposit via Lightning Network?

On the web

  1. Log in to your account at okx.com, go to the Assets and select Deposit
    Web deposit selectionOpening deposit page
  2. Select crypto BTC and BTC-Lightning deposit network and Next
    Web deposit btc lightningSelect BTC and BTC-Lightning network to deposit
  3. Select deposit to Funding/Trading account, fill in the Amount (Recommended amount between 0.000001 BTC~ 0.1 BTC) and select Create invoice
    Web deposit BTC lightning accountComplete the deposit details
  4. Copy the invoice number or scan the QR code on your phone and paste it into the Lightning invoice withdrawal page in the wallet or the exchange used for your withdrawal
    Web BTC lightning invoice/QRLightning invoice that can be used

On the app

  1. Open your OKX app, select Deposit
    App User CenterOpening Deposit page from Homepage
  2. Select crypto BTC and BTC-Lightning deposit network
    App deposit transactionSelect BTC on the Deposit page
    App deposit network BTC lightningSelect BTC-Lightning deposit network
  3. Fill in the Amount (Recommended amount between 0.000001 BTC~ 0.1 BTC) and select Create invoice
    App deposit lightning invoiceComplete the deposit details
  4. Copy the invoice number and paste it into the Lightning invoice withdrawal page in the wallet or the exchange used for your withdrawal

Disclaimer
This article/blog is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation, (ii) an offer or solicitation to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, can lose value, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/ tax/ investment professional for questions about your specific circumstances. Not all products are offered in all regions including the U.S.A., U.K., Crimea, Cuba, Donetsk, Iran, Luhansk, North Korea, Syria Malta, Australia, Bangladesh, Bolivia, The Bahamas, Canada, Malaysia, Hong Kong, France (and its territories), and Singapore. For more details, please refer to the OKX Terms of Use and Risk & Compliance Disclosure. © 2024 OKX. All rights reserved.

What's Lightning Network?
How can I make a deposit via Lightning Network?
On the web
On the app