pull down to refresh
20 sats \ 0 replies \ @kr OP 9 May 2022
In a follow-up comment, Pierre also said Kraken's routing earnings in the last 3 weeks were similar to their first 3 weeks, which was 1.6 million sats.
reply
3 sats \ 2 replies \ @fanis 9 May 2022
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?
reply
10 sats \ 1 reply \ @timechain 9 May 2022
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.
reply
5 sats \ 0 replies \ @fanis 9 May 2022
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.
reply
0 sats \ 1 reply \ @EnormousPony 9 May 2022
I'm not a fan of KYC exchange, I'm a BISQ enjoyer, but if I have to suggest a CEX I will suggest Kraken because it's the best of the worst
reply
0 sats \ 0 replies \ @timechain 9 May 2022
Def the best not bitcoin only one. Alotta times altcoin exchanges really don't put much effort into supporting Bitcoin, (ie, good blockspace use) but Kraken seems to care.
reply