Edmonton, Alberta – May 28 – TheNewswire – Bitcoin Well Inc. (“Bitcoin Well” or the “Company”) (TSXV: BTCW; OTCQB: BCNWF), the non-custodial bitcoin business on a mission to enable independence, has enabled customer payments via the Lightning Network in Canada. This new feature will enable customers to instantly sell bitcoin via the Lightning Network from any personal Lightning Wallet.

The integration of the Lightning Network into the Bitcoin Well Bitcoin Portal is essential to the company’s vision of making bitcoin as easy to use as modern banking products. With this launch, Bitcoin Well provides customers with an innovative way to sell bitcoin from their self custody, which is the safest way to use bitcoin.

 

To use this feature, customers will simply navigate to the “sell” page in their Bitcoin Well account. There they will see their Bitcoin Well Payment Address. This payment address (which is structured as: [yourwelltag]@sell.btcw.app) will be unique to each customer and easy to remember. From that point on, any and all bitcoin sent to the Bitcoin Well Payment Address will be automatically converted into dollars and immediately sent to the customer via e-Transfer.

 

Payment Addresses are a popular method to send bitcoin via the Lightning Network because of its familiarity and ease of use. Integrating Payment Addresses into the Bitcoin Well platform is a massive step towards offering the convenience of modern banking, with the benefits of bitcoin in self custody.  

 

"This innovation not only sets us apart from the majority of Bitcoin exchanges but also enhances the speed, security, and cost-effectiveness of selling bitcoin,” said Adam O'Brien, founder & CEO of Bitcoin Well. “By enabling instant, non-custodial payments via the Lightning Network, we are delivering on our promise to make bitcoin more user-friendly than dollars in the modern banking system. Bitcoin is better money, and Bitcoin Well is making that money easier to use.”

Future enhancements from Bitcoin Well will include enabling customers to pay household bills and credit cards with bitcoin via the Lightning Network, buy bitcoin on the Lightning Network, and seamlessly swap bitcoin between the blockchain and the Lightning Network. Bitcoin Well plans on launching most of these enhancements in both Canada and the USA.

 

For more information about Bitcoin Well Payment Addresses and the Lightning Network please visit bitcoinwell.com/blog.

 

About Bitcoin Well

Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.  

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Bitcoin Well contact information

For additional investor & media information, please contact:

Adam O’Brien

Tel: 1 888 711 3866

 

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Forward-looking information 

Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Bitcoin Well actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.

 

Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents Bitcoin Well expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. For more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well quarterly Management Discussion and Analysis.