How to swap BTC Lightning to other cryptos with the lowest fees!

@Monolith 11 June 2020 edited

BITCOIN'S LIGHTNING NETWORK enables fast and cheap transactions, sidestepping the main Bitcoin blockchain. LN transactions settle instantly for near-zero fees. However, you'll occasionally need to exchange Lightning Network Bitcoin (BTCLN) for 'on-chain Bitcoin' stored on the main blockchain. Or you may wish to convert BTCLN to another cryptocurrency. This requires a 'channel close' transaction on the Bitcoin blockchain. While cheaper than a normal bitcoin transfer, it's still slower and more expensive than a direct LN payment. Here's a simple and cheap method to swap, that doesn't require any advanced knowledge: + Head to http://fixedfloat.com/ and choose **Affiliate Program** from the menu. Register. https://fixedfloat.com/?ref=sym9g3ya + Now choose your trading pair (BTCLN and BCH in this example, but it will work for any other coins listed).

+ Input the amount you want to swap. In the context menu minimum/maximum allowed amounts are displayed. + Input the receiving address (the address where you want to receive your swapped coins). `Hint` "Float rate" rate will go with the market, and it's cheaper. Leave it on. + Press "Exchange Now" and follow the assistant to the end of the process.

You can, in fact, send a different amount –intentionally or by mistake– from what you stated before, and the open order will adjust accordingly.

FixedFloat never store your funds; all swaps take place automatically, with completion times depending on blockchain traffic.

`Tip` Invite new users to sign up under your affiliate link and earn BTC for their trades.

`Notes` [1] https://lightning.network/

↗️ **Telegram** https://telegram.me/lithtk

9 comments

@hamedbkh 11 June 2020

I checked fixedfloat after reading your article. And yes you are right. The fees there are very low indeed!
- @Monolith 29 July 2020
  
  Glad we can help.
@RowanSkie 11 June 2020

I think, at this rate, BTC-LN really needs to be its own thing. However, since it's a sidechain for a 1MB block which apparently needs more BTC than one can get usually... it is a good thing to teach how do convert LN to BCH.
B@Buntym45 11 June 2020

Glad i found out about this
j@jaimesjuan08 12 June 2020

It is good to know that there are other options for currency exchange, thanks for your information.
U@Usagi69 12 June 2020

Nice info tutor
- @Monolith 29 July 2020
  
  Glad it can be of use to you.
@victoriaxlread 13 June 2020

New alternatives to exchange BTC to BCH or other currency with lower transaction rates, it is always well appreciated, thanks for reporting.
@Olad 19 June 2020

Yah! You are always fantastic with with useful information. This awesome and another way of earning BCH. Thanks.