{"id":254106,"date":"2020-03-17T19:04:17","date_gmt":"2020-03-17T23:04:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=254106"},"modified":"2021-08-05T14:12:21","modified_gmt":"2021-08-05T18:12:21","slug":"sparkswap-exchange-shutting-down-for-being-too-niche","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sparkswap-exchange-shutting-down-for-being-too-niche","title":{"rendered":"Sparkswap Exchange Shutting Down for Being Too Niche"},"content":{"rendered":"<p>The Sparkswap exchange is shutting down, <a href=\"https:\/\/medium.com\/sparkswap\/sparkswap-is-shutting-down-86cfab3216d2\">according to a post from the group<\/a>.<\/p>\n<p>Sparkswap has been around for the last two years, and even built itself on the Lightning Network, ensuring that they could work &#8220;with atomic cross-chain swaps to build an experience that was as fast as trading on centralized exchanges.&#8221;<\/p>\n<p>The platform was the first-ever exchange to build itself on Lightning, serving instantaneous transactions to its many customers.<\/p>\n<p>However, while Sparkswap certainly served as a platform for Bitcoin enthusiasts, it couldn&#8217;t find a large enough audience to keep on going. The post explicitly notes that the project was too niche.<\/p>\n<p>As of today, the platform won&#8217;t allow anyone else to sign-up, nor will they allow for more USD deposits. Those still on the platform will be able to buy Bitcoin until March 24 of this year.<\/p>\n<p>Interestingly, any USD held within the Sparkswap wallet will still be there thanks to AnchorUSD, the exchange&#8217;s partner. The platform offers a high-yield USD Interest account for anyone keeping their funds in there.<\/p>\n<p>AnchorUSD will also get rid of all transaction fees until April&#8217;s end.<\/p>\n<p>&#8220;We are still believers in the vision of the future that Bitcoin and Lightning provides and the importance of self-custody to a Bitcoin-backed financial system. Our sincere hope is that we were simply too early, and in a few years a service like Sparkswap will overtake custodial exchanges,&#8221; the post notes.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The Sparkswap exchange is shutting down, according to a post from the group. Sparkswap has been around for the last two years, and even built <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/sparkswap-exchange-shutting-down-for-being-too-niche\" title=\"Sparkswap Exchange Shutting Down for Being Too Niche\">[&#8230;]<\/a><\/div>","protected":false},"author":1722,"featured_media":254111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,5527,7970],"class_list":["post-254106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-exchange","tag-sparkswap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sparkswap Exchange Shutting Down for Being Too Niche - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Sparkswap has been around for the last two years and even built itself on the Lightning Network is shutting down its operations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sparkswap Exchange Shutting Down for Being Too Niche\" \/>\n<meta property=\"og:description\" content=\"Sparkswap has been around for the last two years and even built itself on the Lightning Network is shutting down its operations.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-17T23:04:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-05T18:12:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/03\/sparkswap.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Max Moeller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@maxemole\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Max Moeller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106\"},\"author\":{\"name\":\"Max Moeller\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/40e2bb7ce5197525f89f809b68ffe13f\"},\"headline\":\"Sparkswap Exchange Shutting Down for Being Too Niche\",\"datePublished\":\"2020-03-17T23:04:17+00:00\",\"dateModified\":\"2021-08-05T18:12:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106\"},\"wordCount\":245,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/03\/sparkswap.png\",\"keywords\":[\"Bitcoin\",\"exchange\",\"Sparkswap\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/254106\",\"name\":\"Sparkswap Exchange Shutting Down for Being Too Niche - 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