Skip to content

Instantly share code, notes, and snippets.

@bretton
Last active September 1, 2024 14:59
Show Gist options
  • Save bretton/cdaa74655266560c13c65914140cfa19 to your computer and use it in GitHub Desktop.
Save bretton/cdaa74655266560c13c65914140cfa19 to your computer and use it in GitHub Desktop.
Receive bitcoin over lightning network and cash out to UK bank account

Receive bitcoin over lightning network and cash out to UK bank account

Project Outline

The providers listed below appear to be present in the UK.

Evaluate the services for receiving payment over lightning network, and cashing out to a UK bank account.

Document the steps and pitfalls.

1. Stike

Screenshot the table at this link to see if strike offers cash withdrawal in uk. https://strike.me/faq/which-cash-payment-methods-are-available-by-country/

Then check out the app, and test receiving and making payments. Test withdrawal. Document steps and pitfalls.

What is the minimum amount you need to receive, to be able to withdraw to bank account?

2. Coinbase

Check if coinbase.com has lightning network deposits for UK?

Then check out the app, and test receiving and making payments. Test withdrawal. Document steps and pitfalls.

What is the minimum amount you need to receive, to be able to withdraw to bank account?

3. CoinCorner

Coincorner has lightning network deposits according to https://support.coincorner.com/hc/en-us/articles/360020667299-Sending-and-receiving-via-Lightning

Sign up, check service out, and test receiving and making payments. Test withdrawal. Document steps and pitfalls.

What is the minimum amount you need to receive, to be able to withdraw to bank account?

4. Kraken

Kraken has lightning network deposits.

Sign up, check service out, and test receiving and making payments. Test withdrawal. Document steps and pitfalls.

What is the minimum amount you need to receive, to be able to withdraw to bank account?

5. Optional: Test additional options

Find all valid UK exchanges listed in https://github.com/theDavidCoen/LightningExchanges

Sign up, check service out, and test receiving and making payments. Test withdrawal. Document steps and pitfalls.

What is the minimum amount you need to receive, to be able to withdraw to bank account?

Outcome

Produce a short document comparing the ways to get paid in bitcoin over the lightning network, the minimum feasible amounts, and how to cash out in the UK.

Submissions

Submit directly to the person who gave you this task.

Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment