- Lighting Bridge allows swapping altcoins to bitcoin using the Alby Browser Extension.
- Lighting Bridge's implementation of WebLN eases the process for users considerably.
The need for a better onramp to bitcoin
The user experience of onboarding onto bitcoin can be improved. Currently, the process may involve multiple steps, including creating accounts on exchanges, verifying identities, linking bank accounts, and navigating complex trading interfaces.
The availability of more onramps will streamline this process and make it more accessible to a wider range of people, including those who are already familiar with the technical jargon or have prior experience with other cryptocurrencies.
Cross currency swaps with Lightning Bridge
Lightning Bridge has built an onramp service allowing for a lightning-fast conversion of altcoins to bitcoin. Users can convert altcoins to bitcoin quickly using Lightning Bridge and WebLN wallets like Alby. Minimum transaction amounts are $1 USD. Users can execute swaps within a few minutes as Lightning Bridge promises to be significantly faster than other swap services
How it Works
1. Connect compatible wallets (a WebLN wallet like the Alby Browser Extension and an altcoin wallet like MetaMask)
2. Configure "SEND" token and network.
3. Select the amount to swap
4. Create an account or log in to Lightning Bridge
5. "CONFIRM" on Lightning Bridge and the connected wallet
Improved user experience with WebLN
Better on-ramps to bitcoin improve accessibility and user experience. Lightning Bridge shows how to accomplish that by implementing an open standard that lets users interact without switching contexts (i.e. switching apps).
Every additional onramp service helps to broaden the adoption of bitcoin, makes it more inclusive and propels the activity of bitcoin apps that rely on the availability of sats flowing through them.