Bitcoin Well Inc. (TSXV: BTCW; OTCQB: BCNWF) has launched an integration with Nostr, allowing US customers to buy bitcoin directly through direct messages on the decentralized social protocol, according to a press release sent to Bitcoin Magazine.
Users can link their Nostr identifier (npub) to their Bitcoin Well account and purchase bitcoin by sending specific commands via direct message. The transactions draw from the user’s Cash Balance and send the purchased bitcoin to their existing Lightning Wallet for security.
Nostr is a decentralized social media protocol which is censorship resistant and runs on a network of relays, rather than centralized servers. This means that the users have full control over their message servers. It also adds a layer of protection for the customer’s privacy.
The integration simplifies the process of buying bitcoin by allowing users to make purchases directly through a social platform they already use. As a censorship-resistant protocol, Nostr ensures Bitcoin Well and its customers have full control, avoiding restrictions and potential censorship.
“This is a great achievement for our team!” said founder and CEO of Bitcoin Well Adam O’Brien. “We are deeply committed to make buying bitcoin directly to self custody better than using a custodial exchange. This is a huge step in the right direction. We are meeting bitcoiners where they are and allowing them to buy bitcoin safely.”
Users can link their npub to their Bitcoin Well account to enable bitcoin purchases via direct message. Commands like /buy $21.00 or /stack 69000 sats initiate a transaction, which is confirmed by sending /confirm. The purchase uses funds from the user’s Bitcoin Well Cash Balance, and bitcoin is delivered over the Lightning Network to a pre-registered wallet address.
