ForbesUnder30 music listmaker Lil Pump is now accepting bitcoin as payment on his official merchandise store
The bitcoin Lightning Network, a way to send and receive bitcoin transactions almost instantly and with lower fees,after a surge in the bitcoin price over recent weeks thrust cryptocurrencies back into the limelightLil Pump rose to popularity in 2017, after he released his song"Gucci Gang", which peaked at number three on the U.S. Billboard Hot 100.
with bitcoin and cryptocurrency investors hoping other technology companies, such as U.S. online retail giant Amazon, will follow suitEarlier this week, cryptocurrency payment processing startup Moon announced that any Lightning-enabled wallet can now be used through Moon’s browser extension—opening up bitcoin payments to thousands of e-commerce sites, including Amazon.
Bitcoin and cryptocurrency acceptance by stores both online and in the real world remains woefully low. Companies handling bitcoin payments accounted for 0.3% of all bitcoin transactions, or $2.4 billion, according to Chainalysis, a blockchain and cryptocurrency data company. When sending a Lightning payment, two parties deposit the funds at one bitcoin address, a so-called"channel," in which they can exchange funds a limitless number of times.
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