Lightning Wallet Zap Launches in-App OTC Desk for Bitcoin Buyers

Wallet developer Jack Mallers, the founder of Zap Solutions, wants to improve the Lightning Network's user experience.

To achieve that goal, Zap is launching a dollar-denominated bitcoin buying feature inside its lightning-friendly mobile and desktop wallet.

"The banking system is trash over here. You can't open a bank account unless you already have a job," the Palestinian Zap user said.

"Zap and lightning will help us save on bitcoin fees," he added, speaking about the wallet's "Huge" utility for Palestinians.

The anonymous Ramallah-based Zap user said that any online merchants could be a boon for Palestinian users.

Since the hassle of opening lightning channels is often a hurdle for bitcoin newcomers, the Zap support team will manage channels for now.

"CMT Digital and Zap are cooperating to determine the fiat on-ramps for the Zap wallet. We believe that making the purchase of bitcoin easily and instantly accessible directly through the Zap wallet will help accelerate growth of the Lightning Network. This will, in turn, help with scalability of the Bitcoin protocol by allowing for additional capabilities and use cases."

Zap is hardly the only company that allows users to purchase bitcoin using the lighting network.

Zap does have a unique business model that doesn't rely on transaction fees for retail users.

Zap won't need to prioritize transaction fees for retail users, or other standard monetization ploys, any time soon.