As per the announcement, now “everyone is able to purchase bitcoins and receive them directly into their linked Lightning wallet & sell bitcoins directly from their Lightning wallet.” The post additionally notes that the platform has earlier ‘tested‘ its Lightning Network support on the test network.
HodlHodl reportedly solely implemented Lightning Network support after its successful testing. The post also outlines that the formal procedure won’t be much different when compared to the standard HodlHodl transaction:
“The only distinction is that for the contract period we hold funds in our Lightning wallet that protects both the purchasers and sellers from scams, and therefore the contracts become cheaper, quicker and less complicated. ”
Lastly, the HodlHodl added that the implementation won’t have an effect on the rest of the platform, and that the regular bitcoin on-chain multi-signature contracts employed on the platform would still be non-custodial.
Just yesterday, P2P crypto exchange LocalBitcoins — HodlHodl’s major competitor – ‘formally confirms‘ the removal of tradings in native fiat currencies.