Bitcoin transactions are now batched in the USA! Here’s what that means for you
TLDR;
Bitcoiners in the USA automatically get their bitcoin sent to their personal bitcoin wallet FOR FREE via our batching service! 🤩
Of course, you can always take instant delivery and pay the miner fee.
What is bitcoin transaction batching?
Batching transactions is a way for a service, like Bitcoin Well, to send out many bitcoin transactions within a single grouped or ‘batched’ transaction. This means multiple transactions included in 1 TXID.
Batched transactions are automatically sent out once per day at 6am EST. Even when miner fees spike, your sats will be sent in a batch at no cost to you!
Can I still receive my bitcoin right away?
You can disable the complimentary transaction batching and receive your bitcoin as soon as your inbound dollars clear. You’ll pay the miner fee with sats from your outbound bitcoin transfer. Bitcoin Well does not upcharge or take a profit on the miner fee deducted from your transaction.
To turn on instant bitcoin delivery, go to your Buy bitcoin screen and click on “Batched - Free” at the top right side of your page to toggle your batching settings.
How to change your batch settings
Log in to your Bitcoin Well account and navigate to the
page and click on “Batched - free” to change your batch settings. Buy bitcoin
You can also directly access your batch settings by navigating through the menu on your left hand side, selecting Blockchain speed within the Manage account tab.
Within the Blockchain Speed menu you can choose for your transaction to be either Batched or Instant. If you choose Batched, your transactions will be sent to self custody for free. If you choose Instant we will deduct the bitcoin network fee (miner fee) from the sats we sent you.. Batched transactions cost zero sats and are distributed daily at 6am EST.
Remember: incoming dollars are instantly converted into bitcoin upon arrival.
Upon changing your speed settings you’ll see the change reflected in your
page. With the Instant setting turned on, all future bitcoin purchases will be instantly pushed through when the inbound USD clears.
Of course, you can toggle your Blockchain speed settings anytime by either visiting the Blockchain Speed tab or by through the Buy bitcoin page.
Earn sats for referring friends to Bitcoin Well
Want to earn more sats while you wait for your batched transaction to arrive? Bitcoin Well is the perfect place to earn sats! Simply refer a friend to Bitcoin Well and earn 10% of our cut from the transactions. Every time you earn sats through your referrals, your rewards will be instantly distributed to you straight to your Lightning wallet.
Add your Lightning wallet in your Referrals page, within the Bitcoin Well Rewards tab. Within your referrals page you can add your Lightning wallets for referral payouts, access your referral link and a QR code with your ref link in it. This page is all you need to orange pill your friends and earn sats! Plus every time you refer a friend you get Bitcoin Well points, which you can use to try and win 1,000,000 sats through our Bitcoin (Wishing) Well! Share your ref link with friends and family -> earn sats.
Invest in Bitcoin Well
We are publicly traded (and love it when our customers become shareholders!) and hold ourselves to a high standard of enabling life on a Bitcoin standard. If you want to learn more about Bitcoin Well, please visit our website!
Konrad has been a Bitcoin Analyst since 2018 leveraging an economics background to deliver unique insights on Bitcoin, product, bitcoin mining, and macro-economics.