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EDMONTON, Alberta, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Bitcoin Well (the “Company” or “BTCW”), a company providing convenient, secure and reliable ways to buy, sell and use bitcoin, is pleased to announce new online purchase functionality available on the Bitcoin Well website and the expansion of our online ecosystem.
Non-Custodial Online Service Offerings
We are dedicated to giving customers the ability to purchase bitcoin in the fastest and safest way possible. In addition to the existing online products Bitcoin Well offers, as of today, customers can buy bitcoin with Visa Debit. This new revenue stream and customer functionality comes alongside the launch of our online platform, where users can create a non-custodial account to make bitcoin purchases quickly and easily.
Non-Custodial Financial Services are a core business pillar for Bitcoin Well, and this new Visa Debit functionality signals the first major strategic shift for our ecosystem, as we prepare to offer more online products. This functionality is unique within the industry, and one that is not currently available through other exchanges in Canada1. Similarly — and, true to the Bitcoin Well model — while users can create an online account, the custody of their bitcoin remains in their own hands, as we direct all account transactions to an address or wallet that the customer controls. The ability to self-custody your bitcoin from the Bitcoin Well account is a pivotal distinction when it comes to security, that most other exchanges do not offer.
Non-custodial online products currently offered by Bitcoin Well:
Sell bitcoin and receive an Interac e-transfer
Sell bitcoin and receive a direct deposit into any Canadian bank
Use bitcoin to pay your bills
Buy bitcoin automatically (monthly) with the Bitcoin Savings Plan
Create an online account and buy bitcoin with Visa Debit
“We are going to continue adding to the Bitcoin Well online ecosystem,” said Adam O’Brien, Founder and CEO of Bitcoin Well. “Creating a streamlined customer experience is paramount. Whether a customer’s first interaction is through our OTC offices in-person, at an ATM or online, they will have access to the entire suite of Bitcoin Well products and services, increasing the value to our customers with each addition to our ecosystem. The best part about it is that our customers get to maintain the advantage of self-custody over their bitcoin, with the convenience of an account-based platform.”
Giving our customers the option to buy bitcoin online using their Visa Debit through an account represents a major milestone as we grow the Bitcoin Well online ecosystem.
“It is a fast, easy and convenient way for customers to buy bitcoin from the comfort of their home or as they sip a coffee at their favourite café, which we are hopeful will increase our customer’s frequency of purchase and long-term retention,” said Aryon Billings, Director of Product Delivery for Bitcoin Well. “The team has been working extremely hard on the delivery of this new functionality and we are proud of the foundations that have been built to enable continued development of solutions for financial sovereignty.”
Black Friday Weekend Promotion
Bitcoin Well is offering a special promotion for Black Friday Weekend to celebrate the launch of our Visa Debit purchase offering and reward customers for joining our online ecosystem. From 12:01 a.m. Friday, November 26, 2021 through to 11:59 p.m. Monday, November 29, 2021 (MST), anyone who visits bitcoinwell.com and creates an account, will be eligible to receive 10% back* on their first bitcoin purchase using a Visa Debit card during the promotional period.
To get ready for our exclusive Black Friday Weekend promotion, sign up now for a non-custodial account with Bitcoin Well here, and make your first purchase between Nov 26-29, 2021.
*New account users will receive 10% back in bitcoin on their first transaction using Visa Debit, up to a maximum equivalent of $50 CAD. Terms and conditions apply. Visit bitcoinwell.com for more information.
About Bitcoin Well
Bitcoin Well (TSX.V: BTCW) offers convenient, secure, and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services. The Company generates revenue and based on management’s assessment of publicly available data, is the first publicly traded Bitcoin ATM company in the world, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led bitcoin ATM company in Canada, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Bitcoin Well is on a mission to shift the relationship that society has with money by offering an ecosystem of products and services that make bitcoin accessible and understood. This ecosystem includes non-custodial financial offerings (both in-person and online), technology development, including SaaS and internal technology developments through Ghostlab, the technology arm of the business, and educational resources designed with the needs of both their customers, and the industry, in mind. Follow us on LinkedIn, Twitter, YouTube, Facebook and Instagram to keep up to date with our business.
For investor information, please contact:
10142 82 Avenue NW
Edmonton, AB T6E 1Z4
Adam O’Brien, President & CEO or Dave Bradley, Chief Revenue Officer
Tel: 1 888 711 3866
For media queries and further information, please contact:
Karen Smola, Director of Marketing
Reader Advisory / Forward-Looking Statements
Statements in this press release regarding Bitcoin Well which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the timing of expansion plans and activities, the obtaining of licenses and approvals from regulatory authorities, allocation of the proceeds from private placements as well as various business objectives. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) adverse market conditions; (ii) the need for additional financing; and (iii) changes in laws and regulations. Except as required by law, Bitcoin Well does not intend to update any changes to such statements.
1 Based on management's assessment of publicly available information.