How to buy bitcoin over the Lightning Network – privately – at a Bitcoin ATM
Looking to buy bitcoin instantly over the Lightning Network?
Bitcoin Well ATMs now offer an easy way to convert cash into bitcoin on the Lightning Network with the Cash Voucher system, bridging traditional cash with instant Lightning payments. Follow this guide to quickly buy a Cash Voucher at a Bitcoin ATM, buy bitcoin, and receive it over the Lightning Network.
What you’ll need:
Bitcoin Well Account: – A Lite Account is sufficient.
Lightning Wallet – With a Lightning address or LNURL.
Cash: – To use at the ATM.
Step-by-step guide – Part 1: Setting up and buying your Cash Voucher
Create or sign in to your Bitcoin Well account
– Sign up on the Bitcoin Well portal using only your email and a chosen username (welltag)
– Full ID verification is not needed for Lite Accounts, preserving your privacy.
Get your Cash Voucher QR code:
– Log into your Bitcoin Well account and go to the "Buy" page.
– Select “Cash Voucher” and save your unique QR code (it stays the same for future use).
Visit a Bitcoin Well ATM:
– Find a nearby machine here: https://bitcoinwell.com/bitcoin-atm
– Bring your cash and your Cash Voucher QR code to the ATM.
Buy a Cash Voucher:
– On the ATM screen, select “I want Crypto.”
– Choose “My Portal” and scan your Cash Voucher QR code.
– Insert your cash, and within seconds, your Cash Voucher will be available in your Bitcoin Well account.
Part 2: Buying bitcoin over the Lightning Network
Log into your Bitcoin Well account and navigate to “Buy”:
– Select the Lightning tab at the top of the screen.
Add your Lightning Wallet:
– Enter your Lightning address or LNURL, which will be where your purchased bitcoin is sent.
Complete the purchase:
–Review the transaction, and your bitcoin will be sent instantly over the Lightning Network.
Fees and Limits
ATM Cash Voucher Fee:
– 4% of the deposited amount.
– Example: $100 cash results in a $96 voucher credited to your account.
Bitcoin Purchase Spread:
– Lite Account: 3%
– Verified Account: 1.2%
Daily Cash Voucher Limits:
– Individual Cash Vouchers: Up to $950 per voucher
– Lite Account daily redemption: Up to $3,000
– Lite Account weekly redemption: Up to $10,000
Why use Cash Vouchers for Lightning Bitcoin?
– Privacy: No bank account or ID verification required for Lite Accounts.
– Instant speed: Lightning Network offers real-time bitcoin transfers.
– Convenience: Use cash without bank restrictions.
– Security: Self-custody solution from ATM to wallet.
– Flexible testing: Try the service before fully verifying your account.
– Save on transaction fees: Lightning transactions are considerably less costly to send and receive than on-chain ones.
Tips for success
1. Save your QR code: Your Cash Voucher QR code is reusable.
2. Upgrade for lower fees: Consider full verification to reduce the spread.
3. Prepare your Lightning Wallet: Have your wallet address ready to avoid delays.
4. Monitor your limits: Know your daily voucher and purchase limits.
Need Help?
Bitcoin Well offers support through multiple channels to make your experience smooth:
– Phone support
– Email assistance
– Live chat via the portal interface
Are you ready to get started? Find your nearest Bitcoin Well ATM, fund your account, and experience the future of bitcoin transactions today!
Do you want to learn more about Bitcoin & live in the Western Massachusetts area? 🖐️
Then you you've gotta check out the upcoming Bitcoin Meetup in Northampton!
nostr:npub1xgyjasdztryl9sg6nfdm2wcj0j3qjs03sq7a0an32pg0lr5l6yaqxhgu7s will host a presentation to teach you about bitcoin & giveaway prizes so a few folks leave with some sats!
The next West Mass Bitcoin Meetup is on Sunday October 27th at 6pm!
Sign up here 👇
in 1934 when they passed EO 6102 gold was $25 an ounce. They offered $35 in exchange for the gold. That solid 40% gain sounded good at the time, but looks bad against a historical lens:
Dollars depreciated by 99% and gold is around $2,800 an ounce.
In 1934, the US government passed Executive Order 6102 to seize gold held by Americans. If you think something like that can't happen today, think again
Custodial platforms can be forced to comply with government orders like the banks were back then
Here’s why:
90 years ago, a recently elected FDR faced a desperate and struggling economy. The president chose to villainize gold savers as ‘hoarders’ and seized their gold in an effort to fix the economy. All gold stored in banks was seized, however, most privately held gold was not.
When your bitcoin is held on an exchange, it’s not truly yours. The keys are controlled by a third party, which means it can be frozen or seized at any time
Check those terms and conditions 👀
Any exchange is one election and one bill away from having its bitcoin seized
The beauty of Bitcoin lies in its decentralized nature and the fact you can securely self-custody. When you hold your own keys , nobody can take your bitcoin. Self-custody is freedom and the only way to ensure your bitcoin stays yours.
History serves as a cautionary tale. Just as gold was seized in the past, bitcoin held on exchanges could face a similar fate. A mere 5% interest is NOT worth the risk of losing all your bitcoin. Self-custody your bitcoin and secure your future 🔐
It’s good to be a paranoid crypto anarchist!
Well, Saylor can only leverage Microstrategy so far until he risks over-leveraging the company. He probably is changing his tone for interest on BTC because he pays interest for the loans to buy BTC. Perhaps there is some shareholder pressure, cause the change in his rhetoric is shocking
Hi there!
Our recent job posting has been filled. However, keep an eye out! We are always interested in hiring bitcoiners for our open roles!
And anyone else, too!
That's why we self-custody 🫡
Sorry Saylor, but...
Non-custodial wallets are the essence of what makes Bitcoin revolutionary
They embody financial sovereignty, where you control your own wealth without relying on corruptible third parties or centralized institutions
Bitcoin isn’t just digital money – it’s about owning your money without asking for permission
Custodians dilute this power by introducing counterparty risk, censorship, and exposure to hacks
With non-custodial wallets, you hold the keys, the power, and the responsibility
What Saylor seems to have forgotten is that without non-custodial wallets, Bitcoin becomes just another system of reliance
But with self-custody, Bitcoin is unstoppable digital freedom
Self-custody is what makes a cyber hornet 🟠🐝
Hi there!
After the webinar you'll have a signup link emailed to you! That link will automatically apply the code 'Webinar' and that will award you your points!
Do you have any questions about how to get started buying and storing bitcoin safely? Well, you’re in luck!
Our CEO Adam O'Brien is co-hosting a FREE bitcoin-education focused webinar Oct 23rd at 12pm EST 🖥️
The webinar will consist of a quick presentation followed by a Q&A period where you can ask your bitcoin and self custody related related questions and get answers from industry experts 🖐️🤝
By attending you'll earn 2,500 points in your Bitcoin Well account, enough for 5 chances at 1,000,000 sats from the Bitcoin (Wishing) Well - nearly $700 USD at these prices! 🤑
Folks who attend and sign up with code 'webinar' will also get 2,500 points! 🎟️
This webinar is your opportunity to learn everything you need to know to be a successful bitcoiner and to maximize your independence!
Sign up here 👇
Its almost like paranoid crypto anarchists are the people who invented the bitcoin protocol that pumps Saylors bags
Can we ask Saylor which gold holders held onto their gold post E.O. 6102?
The paranoid gold holders with gold in safes/buried or the custodial customers?
Stack sats with your Bitcoin Well Referral Link 🇨🇦⚡🇺🇲
🎉 Now you can onboard bitcoiners and earn sats every time someone you refer to Bitcoin Well does a transaction on the Bitcoin Portal
Here’s how to get started:
👉 Head to your Bitcoin Well account, and go to Bitcoin Well Rewards > Referrals
🔗 Grab your personal referral link or share your referral code
⚡ 10% of all transaction revenue will be instantly sent straight to your Lightning Wallet
💰 Example: With our current 1.2% spread, if someone spends $1,000, we make $12.00, and you’ll earn $1.20 - automatically sent in sats to your wallet!
If they have a Lite Account with a 3% spread, you’d make $3.00!
👉 Who’s eligible to refer?
Anyone in Canada or the USA can be referred to the platform, and also refer their friends!
This includes businesses, HNW individuals, and clients using our OTC desk.
Canadians can refer Americans, and vice versa! As we expand our services into more countries, they will also be eligible.
Want to learn more?
Check out this article for more details
Not using Bitcoin Well? Do yourself a favour and future-proof your money
👇
We are all satoshi
Reasons why bitcoin is better money than gold: Verification
Counterfeiting is a problem as old as coinage, spanning back to the Lydian empire in 550 BC.
Bitcoiners took note of gold's shortcomings and incorporated superior security methods when creating bitcoin
Here's how 👇
The origin of counterfeiting involved clipping the edges of ‘real’ coins and combining the metal to make a counterfeit coin, but thieves tend to innovate over time.
Mints began to incorporate physical security methods to deter and delay counterfeiters, first official seals and then later coin ridges. Soon, only precious metals with coin ridges and/or designated seals were accepted.
As metallurgy improved, counterfeit gold coins and bars became more sophisticated – ridges and seals were soon copied, no longer distinguishing authentic from counterfeit.
Today, gold authentication is done with a X-ray fluorescence spectrometer. However, XRF spectrometers fail to detect the contents of the object’s centre, as they can only penetrate a maximum distance of a couple of millimetres.
To get around this form of detection, counterfeiters will replicate the outside security features of a gold object (coin or bar) with a thin layer of gold while the inside is made up of a similarly dense metal like gold or tungsten
The only way to detect such fake gold is through an intense process where the gold is physically compressed and flattened through a rolling mill to not exceed the penetration distance of an XRF spectrometer.
However, now the gold bar has lost its standardized shape and seal, and requires minting again. Needless to say, the entire process is costly and time consuming and is thus not exercised for most gold, leading to global speculation as to whether global gold reserves are authentic.
Bitcoiners, however, never worry about receiving counterfeit bitcoin. Bitcoiners also never worry about XRF spectrometers or flattening out the fungibility of money to detect its atomic makeup. Bitcoiners are armed with code and thousands of nodes worldwide, instantly verifying new blocks, transactions and, thus, the validity of bitcoins.
Bitcoin’s inherent ease of verification through its robust system of independent nodes and digital makeup allows bitcoins to be verified instantly, continuously, and without fee or loss of functionality or fungibility.
Bitcoin is better money than gold for many reasons. Protection from counterfeiting is one of our favourite differentiating factors.
Bitcoiners don’t trust – we verify.
Bill gates said
"you over estimate what you'll achieve in 2 years, but underestimate what you'll achieve in 10 years"
it must have been easy to be a libertarian before the mongols showed up