Substack Starts Accepting BTC Payments Using Lightning Network

Substack, a San Francisco-based organisation, recently declared that it would use the Lightning Network to accept BTC for payments. The company will work with OpenNodes to make it happen.

Notably, Substack is a renowned website that permits writers to set up their own subscription-based newsletters. The company has started the payment option only for a select few publishers so far.

The option to pay in terms of BTC will only be available to digital asset publications for now, as mentioned by Substack. There are lots of well liked digital asset newsletters on Substack but the feature is now live for 2 virtual currency newsletters. These include analyst Willy Woo’s ‘The Bitcoin Forecast’ and Dan Held’s ‘The Held Report’.

The company mentioned,

“Substack has started enabling Bitcoin payments — beginning with select crypto publications — as a payment option for those publications’ subscribers around the world, and we’re looking forward to exploring broader availability depending on feedback and demand.”

The company further mentioned in an announcement that it would work with BTC payments processor company OpenNode for the initiative. OpenNode will use the Lightning Network to carry out quick payments, However, there will be the option to make payments “on-chain”, without Lightning.

Substack, founded in 2017, is backed by a couple of big investors, including Andreessen Horowitz, a digital currency-obsessed venture capitalist.