Cryptocurrency news

Breez added a feature to buy BTC with Lightning support using a credit card

Breez added a feature to buy BTC with Lightning support using a credit card

Payment startup Breez has introduced a new feature that allows you to buy bitcoins with Lightning Network (LN) support directly from the mobile app.

The new feature was created thanks to a partnership with the MoonPay cryptocurrency broker and is available to users in 35 countries. According to the company, it simplifies the cumbersome Lightning payment procedure.

While buying LN-enabled bitcoins with a credit card looks like a simple feature, Breez claims that it was previously impossible to implement. CEO and co-founder of the startup Roy Sheinfeld said:

“Breez is not just a wallet. This is an LN-enabled payment service that is designed to provide users with the best possible experience. Breez’s goal is to use Lightning technologies and infrastructure. Other LN-enabled wallets are less focused on creating a high-quality user interface.”

Previously, if users wanted to buy BTC with Lightning support, they had to buy bitcoin, move it to a wallet that supports LN, and then wait for this transaction to be confirmed. Buying directly from your wallet allows you to skip these steps.

The new Breez feature is part of an effort to make Lightning payments less difficult for ordinary people.

“Going to a website and going through a complicated procedure to top up your wallet with a hundred bucks is not the user experience we want to provide. We aim to provide an interface that is at least as user – friendly as in the case of Fiat payments,” sheinfeld said.

Breez does not require users to provide personal information for purchases totaling up to 150 euros per month. However, to purchase cryptocurrency for larger amounts, users must verify their identity in accordance with the KYC rules.

In June, it was reported that the startup Breez released a mobile wallet for iPhone with Lightning support. Meanwhile, the network continues to suffer from security issues. This week, it became known that recently discovered vulnerabilities in LN are already being used by hackers.