Bitcoin Forum

Hi guys,

Let's say I have one BTC on Blockchain.com and I want to transfer this bitcoin to a different address, how can I do that using the lightning network. Since fees are so High atm, how can I send a transaction through the lightning network?

Thanks

I believe you would have read some lightning network threads on this forum. Blockchain wallet does not support lightning network, and you will need to transfer your bitcoin to a wallet that support lightning network before you can start using it. For a noncustodial wallet that support it, the one known for now is electrum wallet. Rath_ created a topic about how you can set up a lightning network on electrum wallets. Check the link below to read about it, and your question is answered.

Electrum Lightning Network walkthrough
https://bitcointalk.org/index.php?topic=5259973.0

You will need to set up a channel, you will create a channel by sending the bitcoin from onchain to offchain on lightning network supported wallet in which miners fee will be deducted in opening a channel, also miner fee will be deducted when closing a channel, although you can edit the fee for opening and closing of a channel. Aside these, the lightning network transaction fee is negligible.

The Lightning Network is not designed to be used for single payments. You wouldn't be even able to open a channel bigger than about 0.16 BTC with most nodes. Also, the LN uses payment invoices instead of addresses. Consider reading "Basics of The Lightning Network (https://bitcointalk.org/index.php?topic=4940536.msg44524521#msg44524521)" and "The Lightning Network FAQ (https://bitcointalk.org/index.php?topic=5158920.msg51615708#msg51615708)" before you start playing around with the LN. There are plenty of things that you need to understand even if you are going to use a newbie friendly wallet, like BlueWallet (https://bluewallet.io/).

Thanks for the answer! That was all I was looking to know!

Cheers