BTCW:CC - Bitcoin Well Launches Lightning Network Payments for Canadian Customers
(TheNewswire)
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 enableindependence, has enabled customer payments via the Lightning Networkin Canada. This new feature will enable customers to instantly sellbitcoin via the Lightning Network from any personal Lightning Wallet.
The integration of the Lightning Network into theBitcoin Well Bitcoin Portal is essential to the company’s vision ofmaking bitcoin as easy to use as modern banking products. With thislaunch, Bitcoin Well provides customers with an innovative way to sellbitcoin from their self custody, which is the safest way to usebitcoin.
To use this feature, customers will simply navigate tothe “sell” page in their Bitcoin Well account. There they will seetheir Bitcoin Well Payment Address. This payment address (which isstructured as: [yourwelltag]@sell.btcw.app ) will be unique toeach customer and easy to remember. From that point on, any and allbitcoin sent to the Bitcoin Well Payment Address will be automaticallyconverted into dollars and immediately sent to the customer viae-Transfer.
Payment Addresses are a popular method to send bitcoinvia the Lightning Network because of its familiarity and ease of use.Integrating Payment Addresses into the Bitcoin Well platform is amassive step towards offering the convenience of modern banking, withthe benefits of bitcoin in self custody.
"This innovation not only sets us apart from themajority 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 onour promise to make bitcoin more user-friendly than dollars in themodern banking system. Bitcoin is better money, and Bitcoin Well ismaking that money easier to use.”
Future enhancements from Bitcoin Well will includeenabling customers to pay household bills and credit cards withbitcoin via the Lightning Network, buy bitcoin on the LightningNetwork, and seamlessly swap bitcoin between the blockchain and theLightning Network. Bitcoin Well plans on launching most of theseenhancements in both Canada and the USA.
For more information about Bitcoin Well PaymentAddresses and the Lightning Network please visit bitcoinwell.com/blog .
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. Wedo this by making bitcoin useful to everyday people to give them theconvenience of modern banking and the benefits of bitcoin. We like tothink of it as future-proofing money. Our existing Bitcoin ATM andOnline Bitcoin Portal business units drive cash flow to help fund thismission.
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Bitcoin Well contact information
For additional investor & media information, pleasecontact:
Adam O’Brien
Tel: 1 888 711 3866
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of thisrelease .
Forward-lookinginformation
Certain statements contained in thisnews release may constitute forward-looking information.Forward-looking information is often, but not always, identified bythe use of words such as "anticipate", "plan","estimate", "expect", "may","will", "intend", "should", or the negativethereof and similar expressions. Forward-looking information involves knownand unknown risks, uncertainties and other factors that may causeactual results or events to differ materially from those anticipatedin such forward-looking information. Bitcoin Well actual results could differmaterially from those anticipated in this forward-looking informationas a result of regulatory decisions, competitive factors in theindustries in which Bitcoin Well operates, prevailing economicconditions, and other factors, many of which are beyond the control ofBitcoin Well.
Bitcoin Well believes that theexpectations reflected in the forward-looking information arereasonable, but no assurance can be given that these expectations willprove to be correct and suchforward-looking information should not be unduly relied upon. Any forward-looking informationcontained in this news release represents Bitcoin Well expectations asof the date hereof, and is subject to change after such date. BitcoinWell disclaims any intention or obligation to update or revise anyforward-looking information whether as a result of new information,future events or otherwise, except as required by applicablesecurities legislation. For more information, see the Cautionary NoteRegarding Forward Looking Information found in the Bitcoin Wellquarterly Management Discussion and Analysis.
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