This new feature is integrated into Paxful's platform and allows the company to keep user fees lower than traditional Bitcoin transactions. When users send or receive Bitcoin through Lightning Network with their Paxful Wallet, their Bitcoin balance is used in the same way as if they were transferring it to the Bitcoin network. All transactions are processed in seconds and Paxful users can use Lightning Network for both transactions with others and to pay for goods or services.

Ray Youssef, CEO and co-founder of Paxful, said, "Bitcoin is undoubtedly the best financial option for people who really drive economies forward. But for it to succeed and usher in global adoption, we must overcome the problem of scale. The industry's biggest possibility for Bitcoin scalability is through Lightning, which makes micropayments much cheaper and faster. Buying a coffee with Bitcoin will now be a realistic option. Consumers, businesses and even banks are looking for a way to connect the world and we anticipate Lightning will do just that. We are honored to be one of the first peer-to-peer platforms to offer this technology to our users. It's a true service aimed at financial freedom.

Artur Schaback, COO and co-founder of Paxful, said, "The Lightning Network amplifies the work we are already doing at Paxful. In essence, Bitcoin was conceived as a medium of exchange. Paxful's seven million users now have another option for conducting micropayment transactions, one that is cheaper and faster than the traditional Bitcoin network. We are thrilled to see how our users are using Lightning and expect Bitcoin use cases to only grow from here".

Elizabeth Stark, CEO and co-founder of Lightning Labs, said, "Bitcoin levels the playing field for people around the world and emerging markets are leading the charge with adoption. At Lightning Labs we are developing technology to bring bitcoins to billions, and the integration of Paxful is a big step forward in making this a reality. We are excited to incorporate millions of Paxful users who can now send instant, global, low-cost transactions with Lightning. In other words, it grows the number of people! "

Founded in 2015 and fully bootstrapped since then, Paxful is headquartered in New York and has offices in Estonia, the Philippines and Russia. The team has doubled in size in the last 12 months, reaching over 400 people.

About Paxful Paxful is a peer-to-peer funding platform for people to make payments, transact and send money by buying and selling cryptocurrencies as a medium of exchange.

Founded in 2015 by Ray Youssef and Artur Schaback, Paxful's mission is to help everyone have equal access to finance, no matter who or where they are. More than seven million people use Paxful to buy and sell Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) with nearly 400 different payment methods.

Ray Youssef, co-founder and CEO of Paxful, created the Built  with Bitcoin Foundation to help people gain access to education and water. To date, the foundation has built four schools (two in Rwanda, one in Kenya and one in Nigeria). The Built with Bitcoin Foundation is funded by Paxful and the cryptocurrency community.