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Bitcoin Well

Bitcoin Well

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Last Updated May 26, 2024  |  Affiliate Disclosure

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  • Bitcoin Well is a non-custodial Bitcoin broker for Canadians operating since 2013. It's also a publicly traded company. 
  • Users can easily buy Bitcoin online using Interac e-Transfer or visit one of their 280+ Bitcoin ATM locations for more anonymous Bitcoin transactions.
  • After testing 20+ crypto exchanges, NDAX has the best prices and is my top pick for the majority of Canadians. You can read my NDAX review or sign up to get $10 free when you deposit $100. Keep reading if you want to learn more about Bitcoin Well.

What Is Bitcoin Well?

Bitcoin Well is a Bitcoin broker for Canadians with a simple user-interface. You have the option to buy Bitcoin online through payment methods like e-Transfer or Visa debit, or by personally visiting any of their 200 ATM locations scattered across Canada.

While Bitcoin Well is not as well-known as Coinbase or Shakepay, they have been around since 2013 and have a good track record.

One of the key aspects of Bitcoin Well is its non-custodial model. This means that instead of holding your Bitcoin on their platform, all purchases are sent directly to your Bitcoin wallet. This ensures that you have complete control over your Bitcoin and private keys.

How It Works

Here is a video from the official Bitcoin Well YouTube channel:

Things To Know

  • Bitcoin Well was founded in 2013 and is publicly traded under the ticker symbol BTCW
  • It offers two primary ways to buy Bitcoin: Online or in-person at a Bitcoin ATM
  • Online purchases have a flat 1.00% fee and require KYC
  • A Bitcoin wallet is required to use it, as all purchases are sent directly to your Bitcoin address
  • Their Bitcoin ATMs allow anonymous Bitcoin purchases (no ID)
  • You can also use Bitcoin Well to pay your bills and credit cards with Bitcoin

Key Benefits & Features

Bitcoin Well Website

Bitcoin Well is a relatively simple platform, with no altcoins or advanced trading features. Here are the key features if you're considering using Bitcoin Well:

  • Buy and Sell Bitcoin Online: You can quickly buy Bitcoin using Interac e-Transfer, Visa Debit, or wire transfer. Your Bitcoin is automatically transferred to your wallet for secure storage.
  • Bitcoin ATMs: Bitcoin Well has a network of 280+ ATMs across Canada, allowing you to buy Bitcoin privately using cash. Simply provide your Bitcoin wallet address and insert cash, and you can easily acquire Bitcoin. While good for privacy, it's worth noting that Bitcoin ATMs are notorious for high fees. 
  • Pay Bills With Bitcoin: You can pay your credit cards, phone bills, and utility bills with Bitcoin. While this service might not appeal to everyone, it's one of the few places in Canada offering this service and is important for Bitcoin adoption in Canada. Simply add a Payee and make your payment.
  • Secure and Publicly Traded: Bitcoin Well has a non-custodial approach, eliminating the need for the company to hold your Bitcoin. They are also a publicly traded company, adding an extra layer of legitimacy. 

Bitcoin Well Walkthrough

The Bitcoin Well website has a simple user-interface. As long as you already have a Bitcoin wallet or know how to set one up, making a purchase is very simple. Here are some screenshots from my Bitcoin Well account. Keep in mind there is no mobile app.

Main Dashboard

This is where most of the action happens. You'll see your navigation on the left and quick buy/sell on the right.

Bitcoin Well Account Dashboard


To help with fees, you can set your Bitcoin transaction speed in the settings. This is very convenient.

Bitcoin Well Transaction Speed

Bill Payments

To make bill payments to pay your credit card or other bills, simply add a Payee.

Bitcoin Well Bill Payments

Is Bitcoin Well Safe?

Bitcoin Well has built a good track record since they are based in Edmonton and have been operating since 2013.

One of the key factors to Bitcoin Well's security is its non-custodial model. All transactions are automatically sent to your private Bitcoin wallet, meaning Bitcoin Well doesn't have access to your Bitcoin holdings. This minimizes the risks typically associated with custodial platforms.

In addition, Bitcoin well is publicly traded under the ticker symbol BTCW, lending it a greater level of legitimacy and credibility. Public companies undergo regular financial audits to ensure compliance and transparency. 


Bitcoin Well has a straightforward fee structure, charging a flat rate of 0.50% on transactions. You also have to pay the Bitcoin network fees to send Bitcoin to your wallet. However, you can adjust the transaction speeds in your settings if you wish to reduce the amount payed. According to their website, Bitcoin Well explicitly says they don't add any additional or hidden fees. 

Bitcoin Well Review: Is It Worth It?

Bitcoin Well makes it safe and easy to buy Bitcoin in Canada. Here are the main points to consider if you're thinking about trying Bitcoin Well:

  • Secure: Bitcoin is sent directly to your wallet and they are a public company.
  • Simple User Interface: As long as you know how to use a Bitcoin wallet, it's a very simple platform to use.
  • Fast Sign Up: Get verified in under 2 minutes.
  • 0.50% Fee: While not super expensive, you can probably find better rates on NDAX and other apps.
  • Limited Features: There is no mobile app, advanced trading, altcoins obviously, etc.
  • Harder for Newcomers: You must have or know how to use a Bitcoin wallet.
  • $3,000 Limit: Online purchases have a $3K limit. Their ATMs, however, don't have a limit.

Best Bitcoin Well Alternatives

Canada has lots of crypto exchanges, including several Bitcoin-focused platforms such as ShakepayBeaver Bitcoin, and Bull Bitcoin. If you'd like to learn more, I have thoroughly reviewed each one and tested over 20 exchanges in total. With that in mind, here are my top picks for Bitcoin and altcoin purchases in Canada:


Out of 20+ platforms we tried, NDAX had the #1 lowest fee to buy Bitcoin in Canada. It's our top pick for 2024.

  • Lowest fees to buy Bitcoin
  • Free e-transfer deposits
  • Based in Canada
  • Low volume on some coins
  • Only 39 coins

Kraken is fully regulated in Canada and offers 250+ cryptos, professional trading, and high liquidity. 

  • e-Transfers supported
  • Industry-leading security
  • High liquidity
  • 0.25%/0.40% trading fees
  • Fiat withdrawal fees

If you want to trade altcoins, crypto futures and more without KYC, BYDFi is one of the top apps we found.

  • 500+ coins
  • No KYC, No VPN
  • Up to 200x Leverage
  • No $CAD supported
  • Beginner-friendly


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