Energy

Watch as we send bitcoin from Miami to a Ukrainian in Poland

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Alena Vorobiova hadn’t thought much about bitcoin before Russia invaded Ukraine in February. Fast forward to border closures and shelling on her hometown, cash shortages at ATMs across the country, and the central bank suspending electronic cash transfers — and she decided to give bitcoin a try.

Whereas money providers often charge transfer fees of 10% or more when you send $100 from the U.S. to Ukraine, bitcoin’s Lightning Network, which is a payments platform built on bitcoin’s base layer, slashes the cost of transactions to virtually zero.

Vorobiova and CNBC decided to put Lightning payments to the test — with the expertise and translation skills of bitcoin developer Gleb Naumenko,…



Source cnbc.com

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