Bitcoin Well exchange profile

Bitcoin Well offers Bitcoin purchases delivered to personal wallets, sales into local currency and larger assisted transactions. Its Canadian Portal, cash network and US service share a brand but differ in payment rails and contracting roles. This profile starts with the Canadian service, then identifies the US arrangements where they change execution or custody.[1]

Canadian recurring instructions remain active until cancelled through the account or support; compliance review can interrupt them.[3]

Under the US agreement, revoke a recurring preauthorised bank debit at least three business days before the next scheduled transfer.[4]

For an illustrative 0.02 BTC swap, the stated 0.5% component is 0.0001 BTC, or 10,000 satoshis. This calculation isolates the conversion charge; it does not establish a final received amount after any other charge in the live quote.[20]

The Canadian fee-settings guide lists a free daily batch at 04:00 Mountain Time and higher-priority delivery options, with the instant charge changing with network conditions. It also describes low-fee arrival within an hour, so that estimate should not be treated as a promise to broadcast every purchase immediately. The speed cannot be changed for an instruction already initiated.[35]

Cash-voucher redemption and a direct ATM purchase are different workflows. For a voucher, obtain the Portal QR code, scan it at a compatible ATM, add cash, then return to the Portal to select the balance and confirm the wallet. The QR identifies the account and should not be shared publicly.[25]

For a Canadian sale, nominate the CAD amount and payout recipient, then send the exact Bitcoin requested. The guide distinguishes a reusable on-chain sale address from a fresh Lightning invoice for each sale. Sending to the reusable address creates another conversion; it is not a storage deposit. Bank or biller credit follows the required Bitcoin confirmations and payment processing.[21]

Canadian bill payment requires the biller and customer account number. The Bitcoin invoice lasts five minutes, and the sending wallet’s miner fee is additional to the invoice amount. Submit at least three business days before the bill’s due date. An expired Lightning invoice needs replacement, rather than another attempt to pay the old request.[22]

For a US sale, the help guide requires Bitcoin on the main chain and a linked bank. A saved sale address can trigger repeated conversion and payment to that bank. A completed entry in Activity records the Bitcoin sale and USD amount; it does not guarantee that the bank has already posted the deposit.[29]

Standard Canadian delivery requires a wallet owned and controlled by the customer. Bitcoin Well cannot restore lost private keys. An available fiat balance or a payment awaiting conversion still depends on the service completing its obligations; direct Bitcoin delivery should not be confused with protection for every stage of funding.[3]

BitGo advertises a USD250 million digital-asset policy for custody in which BitGo Bank & Trust holds all keys. BitGo is the insured party and pays deductibles. That figure is not a per-customer entitlement or coverage for Bitcoin already delivered to a personal wallet. The page disclaims FDIC and SIPC protection for custodial digital assets; no individual Bitcoin Well allocation was established.[15]

Canada requires residency, physical presence in an operating province or territory, legal capacity and compliance checks. Acting for someone else needs separate permission.[3]

US access requires provider approval and agreements. The shared brand does not make Canadian and US accounts interchangeable.[4]

Canadian verification collects email and phone confirmation, occupation, government ID and a selfie. Some accounts require a short video call to confirm independent wallet use. The help guide identifies the account’s own Limits screen as the source for available routes; a Lite label does not establish that every future transaction is exempt from identification.[16]

Plaid bank connections can expire following bank security changes or periodic reauthentication. The published remedy is to remove the existing connection and add it again through the account’s payment settings. The guide suggests desktop access if mobile relinking fails, with support escalation if the connection remains unavailable.[38]

Canadian terms direct complaints to the operator, retain consumer court rights and allow consensual post-dispute mediation or arbitration.[3]

The US contract separately provides a 30-day arbitration opt-out after acceptance.[4]

The website discloses FINTRAC M19811620, Quebec 11314 and FinCEN 31000308454032. Firm-specific register entries were not independently confirmed in this review. These are attributed company disclosures about money-services registration; they do not establish deposit insurance, investment approval or permission for every product in every jurisdiction.[9]

US trading and settlement require the customer’s BitGo agreements and BitGo’s acceptance of an instruction. Heritage has an additional IRA role.[4]

Bitcoin Well Inc. describes a 2013 start, its first Bitcoin Solutions ATM in 2014, the 2020 name change to Bitcoin Well and a July 2021 public listing. Its timeline places the Canadian Portal in 2022 and Infinite in 2024. The public parent identifies TSXV: BTCW and OTCQB: BCNWF; exchange users contract with the regional operators identified above.[2]

The issuer’s 3 September 2026 update reported more than 80,500 total customers and more than 12,600 yearly active users for August. Those are different company-reported measures, not simultaneous traders or independently measured exchange volume. They support describing a substantial regional user base but do not establish a global liquidity rank.[13]

The October IRA launch release separately referred to more than 25,000 registered US customers as of June 2026. That older regional registration figure should not be added to the later total as if it were a separate audience.[14]

Operator

Bitcoin Well Canada Ltd.; Independent Well USA Corp. (US interface)

Exchange model

Centralised

Service scope

Canadian Bitcoin dealing, local payment routes and Infinite large transactions; US services use separate providers.

Client types

Retail clients; Professional clients; Institutional clients

Pricing publication

Public and quoted pricing

Other names

Bitcoin Solutions; Bitcoin Well Infinite

Pricing scope

Published regional Portal spreads; ATM pricing and negotiated Infinite quotes are separate.

Funding scope

CAD bank transfers and cash routes; US ACH and larger wire-funded transactions.

Custody and asset handling

Standard purchases deliver to personal wallets; US retirement assets remain in institutional custody.

Client eligibility

Canadian residency and regional onboarding; US access requires provider approval.

Support

Help Centre chat and email; weekday business hours and dedicated Infinite contacts.

Authorisation and registration scope

Company-disclosed FINTRAC, Quebec and FinCEN registrations; no independent firm-register confirmation obtained.

Exchange metadata checked 21 Oct 2026Source 1Source 3Source 4

As a hypothetical programme illustration, $500 of qualifying recurring purchases at five points per $10 produces 250 points. The terms do not specify a dollar currency beside this schedule. This is a points calculation, not a cash withdrawal or a guaranteed Bitcoin payout.[10]

Bitcoin Well’s July 2026 announcement describes Wade as an AI customer-support agent that guides Portal and ATM workflows and passes issues to people. GhostOps monitors and remotely manages the ATM fleet. The announcement does not grant either system discretionary trading authority over a customer account.[11]

The iPhone guide documents a Safari web-app shortcut for app.bitcoinwell.com, with updates delivered through the web application. It is useful access documentation, not proof that an offline device can authorise transactions. Bank-scheduled purchases described earlier continue through the bank’s standing instruction rather than requiring that shortcut to remain open.[37][19]

An IRA withdrawal must use the supported distribution process, including Heritage’s requested forms and any tax-withholding election. The guide distinguishes distribution to the owner from a custodian-to-custodian transfer. It does not promise every withdrawal in Bitcoin: some require a sale, with proceeds staying inside the IRA until the distribution is processed. Sending IRA Bitcoin directly to a personal wallet outside that process is not the documented withdrawal route.[39]