How to start buying bitcoin for your business 

Fiat money is designed to lose value over time through inflation and money printing. Bitcoin is designed to preserve value over time through a fixed and transparent monetary policy. 

Which Treasury reserve asset would you prefer for your business? 

The currency designed to lose value? Or the currency designed to preserve its value? The choice is simple. 

The choice is bitcoin. 

Here’s how to get your business started:

Step 1: Choose your Bitcoin Partner

Bitcoin Well is a unique Bitcoin partner for your business because of our non-custodial model which puts you in control of your bitcoin. Your company becomes the sole entity in charge of your bitcoin, greatly reducing the counterparty risk to your firm’s investment capital. 

With Bitcoin Well Infinite, you gain a trusted partner in your bitcoin journey.

Step 2: Set up a company bitcoin wallet 

There are two types of bitcoin wallets, often differentiated as ‘hot’ and ‘cold’ wallets. 

A hot wallet is one that is directly connected to the internet. Think of a bitcoin wallet on your smartphone. Hot bitcoin wallets work well like the traditional wallet in your pocket: low security but highly accessible – optimal for a small amount of currency used for small transactions. 

A cold wallet is disconnected from the internet to provide greater security. Both wallets use encryption to protect your bitcoin, however a cold wallet offers more security and is thus suitable for the bulk of your bitcoin. A cold wallet is like a savings account, optimal for obtaining and storing large amounts of bitcoin. 

We suggest your business get set up with a cold wallet to protect your bitcoin. We provide a variety of industry leading hardware wallets and can assist you in setting them up. Ask us about recommended cold storage wallets and we’ll provide you with our recommended options. 

Step 3: Register your business with Bitcoin Well 

Business accounts require a standard set up procedure that includes:

• Articles of incorporation 

• List of directors 

• Any shareholder with more than 25% ownership of the company will need to create and verify their own Bitcoin Well account 

Bitcoin Well Infinite - Large transaction and OTC support

If your firm’s transactions are greater than $50,000 then you qualify for our OTC desk where you gain:

• White glove customer support

• Custom trade structures

• Flexible settlement options

• Risk management guidance

• Market insights and analysis

Click here to book an appointment with our Bitcoin Well Infinite team for a free consultation. 

Step 4: Assign bitcoin wallet responsibilities within your company 

Bitcoin transactions work like emails – once they are sent they cannot be recalled. It is thus prudent to protect your bitcoin wallet to ensure unauthorized transactions do not occur. 

Each transaction needs to be “signed” by a bitcoin private key – this would be like entering a password anytime you send an email. We recommend your firm establish a process to protect your firm’s bitcoin wallet in whichever manner best suits your firm’s unique organizational structure. This may involve splitting your bitcoin wallet password (known as a cryptographic private key, or seed phrase) into multiple parts to ensure no single person has full control. Bitcoin wallets can also be set up to require multiple passwords at once to authorize a transaction, kind of like how multiple keys are needed to turn the press nuclear button in all those spy movies. Once your firm has established a bitcoin wallet management strategy, your firm is ready to begin purchasing bitcoin. 

We would be thrilled to discuss the needs of your business and recommend a wallet structure that will suit you. 

Step 5: Establish your bitcoin purchase plan 

How much and how often does your firm intend to buy bitcoin? Well it depends on who you ask!

Microstrategy CEO’s, Michael Saylor, says to invest in bitcoin what you cannot afford to lose. Bitcoin Well CEO, Adam O’Brien, suggests investing 2% of one’s net worth into bitcoin. 

Like any investment, time in the market matters more than timing the market. 

We suggest firms begin purchasing some amount of bitcoin sooner rather than later and set up the remainder of their allocated capital to purchase bitcoin on a periodic schedule, reducing the firm’s entry price risk significantly. Bitcoin can be purchased via online bank transfer, bill payment, e-Transfer, cash and wire transfer. Regardless of your business’s size or bitcoin expertise, we have a solution for you. 

What are you waiting for? Future your business today by embracing bitcoin, sign up now: https://bitcoinwell.com/app/signup