Cryptocurrency conversions and their challenges are becoming easier with time as accountless exchange Flyp.me is adding more and more digital coins to its portfolio. This is allowing users to effortlessly move between different digital assets with very little fees. For this purpose, the exchange has announced support for a new cryptocurrency on its platform; the Liquid Network.
Users can now convert their cryptocurrencies to Liquid Bitcoin (L-BTC). Currently, there are over 40 cryptocurrencies supported on the Flyp.me platform, including the top ones like Bitcoin, Ethereum, Zcash, etc as well as various smaller projects. Users can seamlessly transact between these digital assets.
There is also no need to indulge in long signups and account registrations. Being a completely accountless instant crypto exchanger, Flyp.me has a distinct advantage over its competitors.
The Liquid Network
The new asset added on the platform is the first token of the Liquid Network and it is called L-BTC. Essentially, L-BTC is used for side-chain faster transactions, and each token is backed 1:1 with Bitcoin in the mainchain. This is a way to make transactions without going through the regular lengthy process of mainchain transactions, which are often quite expensive and take some time, especially for smaller transactions.
Scalability solutions like the Liquid Network are proving to be quite useful for conducting swift crypto settlements and expanding the horizon of the Bitcoin network. It is similar to the Lightning Network in some ways but operates differently.
The Liquid Network can also be used to issue new liquid assets too. So new stablecoins pegged to main digital assets can be launched on the Liquid Network.
With the addition of L-BTC, users will have another option to quickly transact with a BTC-backed asset.
Flyp.me offers various other features in addition to cryptocurrency conversions on its accountless exchange. It has an open API that empowers its users. There are constant updates performed to the platform to ensure that the platform gets better over time.
Because of a no registration requirement, Flyp.me believes in doing things differently.
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