Canada’s leading bitcoin exchange, Bull Bitcoin (Satoshi Portal Inc.), has announced the acquisition of white-glove service provider for bitcoin self-custody, Veriphi, via a press release sent to Bitcoin Magazine.
This acquisition was entirely self-funded by the company's decision to hold BTC on its balance sheet since 2015, being purchased after bitcoin’s historic rises in price throughout the years also known as NgU (number go up) technology.
Bull Bitcoin is setting the standard by doubling down on being a noncustodial bitcoin only exchange where the customer takes full custody of their coins right from the beginning. They focus on the importance of bitcoin self-custody, which is why customers must have their own wallet to hold their BTC before they can use the exchange.
But because the company does not hold users’ bitcoin for them, it tends to put them at a disadvantage to new Bitcoiners who may want to leave their BTC on exchanges initially. This can be seen as more difficult and inconvenient to new Bitcoiners who just want to take the easy route by not holding their own keys, but this is where Veriphi comes in.
“By combining Bull Bitcoin’s infrastructure with Veriphi’s Bitcoin consulting expertise, we will establish ourselves as the world’s single best destination for new Bitcoiners to be onboarded, the right way,” the release stated. “We expect our transactions volumes to increase significantly as a result and massively increase the proportion of Canadian Bitcoiners holding their own keys and running their own full nodes.”
After being founded in 2017, Veriphi has become Canada’s white-glove self-custody service that aims to turn anyone and everyone into sovereign Bitcoiners. They are a team of solid Bitcoin educators and experts out of Montreal that are well known for their fantastic tutorials and how-to guides, bitcoin wallet reviews, and security/privacy best practices.
“Our message to the Bitcoin community is clear: you can absolutely trust us to take care of your friends and relatives when it comes to being onboarded to Bitcoin. You can drop them off in our care, and we guarantee we will turn anyone (even your grandmother) into a Sovereign Bitcoin holder,” the release stated. “You can have peace of mind that they will have followed all the best practices and that trustworthy experts will guide them every step of the way with phone support.”
By this acquisition, Bull Bitcoin is adding yet another element to its exchange that separates it from its competition. In addition to this new white-glove service, the exchange has already implemented the Lightning Network, Liquid Network, CoinJoin and transaction batching. They are setting the standard and highlighting the importance of cypherpunk ethos, which is important when onboarding new Bitcoiners.
“We not only have to provide support for our services, but we have a responsibility to provide advice and help on how to self-custody Bitcoin,” the release stated. “We refuse to compromise on our values, cut corners on privacy and self-custody and act against the best interests of our users just because it’s easier.”
You can follow the new Bitcoin maximalists joining Bull Bitcoin from the Veriphi team on Twitter below. Bull Bitcoin CEO Francis Pouliot said that he’s been personally mentoring these Bitcoiners for years, and they are “without a doubt, the best successors I could have hoped for and I trusted them without reservation to advise my own family members about Bitcoin self-custody.”
Gustavo J. Flores Echaz - @gustavojfe
Maciej Cepnik - @cepnikmaciej
Tristan Borges Solari - @tristanborgess
Nathaniel Kitzke - @nk1tz
René Vergé - @reneverge
Carlos Chida - @carloschida