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Why lightning instead of normal Bitcoin or credit card transactions?
Why lightning instead of normal Bitcoin or credit card transactions?

Bitcoin payments on the Lightning Network have lower fees and faster processing times than on-chain Bitcoin payments and even Visa payments.

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Written by OpenNode Support
Updated over a week ago

The Lightning Network can support 250,000 + transactions per second in comparison to 7 transactions per second with Bitcoin (on-chain). Transactions settle instantly with almost zero processing fees since all users compete to route payments.
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Lightning provides all the security and immutability of the blockchain so you will never encounter chargeback frauds or deal with funds being held for reasons out of your control.
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Credit card and payment processors such as Visa and Square take anywhere from 2-5% per transaction and can lock your funds. Credit transactions are processed instantly because you are on credit with a centralized system, but true settlement takes a much longer time to occur.

Traditional payments also run the risk of charge-backs for merchants. With bitcoin, all payments are made immutable by the blockchain so there is no risk for chargebacks.ย 

Lightning enables the future of payments.

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