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3 sats \ 2 replies \ @fanis 9 May 2022 \ on: Kraken Has Seen 4,739 Lightning Deposits/Withdrawals In 6 Weeks bitcoin
Interesting! Honestly, I didn't expect there to more deposits than withdrawals. In my mind, Lightning killer app at Kraken is quickly moving one's coins off-exchange. What am i missing? Arbitrageurs? Lightning-aware sellers (how could you know about Lightning and still wanna sell on Kraken)? Node operators using deposits as a way of moving liquidity inside channels?
I think people pull their coins off exchanges to cold self custody. Lightning coins are always hot storage. I haven't checked out what their withdrawl fees are, but its possible it's a cost effective way for someone to move coins back on chain, albeit a very KYC way.
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Yeah, their on-chain fees hace been lowered a lot lately. Might be a "good" (at least, cost effective if the counterparty risk and privacy aspect don't bother you too much) way to bring your Lightning coins on chain indeed.
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