Bitcoin Well Reviews 92

Great way to purchase Bitcoin without needing to trust anyone to custody for you!
@steelo47

Bitcoin Well is one of the cheapest and definitely the easiest place to buy Bitcoin in Canada. There is zero reason not to give them a shot. I won't buy Bitcoin anywhere else.

Super Simple Process
Took only a few minutes to complete registration and verification. I did a small test transaction and it went off without a hitch. Then tested the bank transfer/bill payment process and again it was easy and worked flawlessly. I set up a recurring buy in my web banking and now have dollar cost averaging on autopilot. I’m never in a hurry so their free bitcoin transfer to your wallet works fine for me. Takes a couple hours to show up but that’s hardly an issue. Price on the exchange is good. No complaints at all. Thanks! @albertaboy

Everything was going along just great - verified and then tried to add the bank got into an infinite loop,.. must have tried a hundred times to add my bank so I gave up, The app site is glitchy! I wouldn't waste my time wish I could get those 2 hours back,

Easy to use, and one of the best non-custodial crypto sites in Canada. They are keeping their competitive rates relatively low. Pretty good fees for non-custodial bitcoin. The spread for e-transfer to BTC with KYC ranks them in the top 3 positions for lowest spreads in Canada.
@pizzahut

I’ve used the website at least 20 times since the fall of 2024 to purchase bitcoin via e-transfers. Bitcoin Well send the bitcoin directly to my cold storage wallet. I’ve had no issues to date, and I am very pleased that I do not have to deal with the exchanges directly. Thank you.

So far so good, I like how easy is to use the app and the interest I am getting for my coin. I am not a heavy investor and I am just learning about this.

Great way to buy and transfer BTC to your cold storage wallets in one step. No slip and the buy price. I actually ended up with a slightly higher value from when I made the purchase. It wasn't fast, but definitely worth the wait to avoid the higher fees you may get with others. @darkram

BitcoinWell portal is the best place to purchase Bitcoin, even though it's KYC. Self-custody is the best place for you to keep your wealth, not with trusted third parties, and BitcoinWell promotes self-custody.
For non-KYC BitcoinWell offers ATMs and a light account. Ive used the ATMs, but I keep using the convience of their online portal. And they have the wishing well, I've won many sats from there.
@sirsnaxalot

1. Feb 21st transaction
My account was unverified, but I accidentally sold more than its limit. They locked my funds, and sending out manually. There was a 2 transaction, and support told me both will be “manually processed by next business days by their accounting team.” First fund came on next business day, but other one took 3 business days to arrive. But this was my fault, because I didn’t read the limits carefully.

2. March 17th transaction
Now I verified my account. Try to sell. Popped out error. Contacted customer services. Told me it will be done next business day. On March 18th, no response, no funds arrived. I need to follow up them, and eventually they sent out the payment.
Not my fault, their system problem.

3. March 25th transaction.
Try to sell. System error again. Contacted customer support. Next day, they said AGAIN “ACCOUNTING TEAM WILL PROCESS MANUALLY.” 27th today, and didn’t contact me, no response so far.
Not my fault, their system problem, not explaining what the hell is going on. But keep saying MANUAL PROCESS, which will not even go through if I don’t follow up.

I knew something was wrong when I received an e-mail asking me to complete the sign-up process, a process I never even started.
Other reasons this is an obvious scam:
1. August 2019 I began teaching myself on BTC and crypto currencies. I have never heard of Bitcoinwell.
2. Some of the reviews here state that they have used Bitcoinwell for years, as satisfied customers, since 2021. As archive.org can reveal, bitcoinwell.com was not really an active domain in the years before.

I understand the role KYC is supposed to play in preventing digital crime, but tethering KYC to processes and apps that require users to be using the latest phones comes at two terrible costs, at least. First, the cost to the consumer. Because mobile phone manufacturers want consumers to buy new phones often, manufacturers refuse to support phones with critical updates for more than a few years. Second is the cost to the environment. Phones contain lots of toxic components that are eventually dumped into the environment when phones are discarded--even when they're "recycled." Billions of phones are discarded every year (5 billion in 2022 alone according to the BBC's report on consumer e-waste).

Given the above, it's inexcusable that fintech services like Bitcoin Well use KYC services that require consumers use relatively new phones. I've tried for over 6 months to verify my account with Bitcoin Well. Today, after a lengthy exchange with one of their reps, the conclusion was that my phone isn't new enough to work with their KYC partner's app, Persona. The solution? "Buy a new phone then try again." Ecologically wasteful and financially insensitive (of clients).

Requiring a consumer to waste hundreds of dollars every couple of years JUST to have a phone that works with your app--or failing to offer a KYC onboarding process that doesn't require a new phone--is plain corporate irresponsibility. And this is a major reason so many are flocking to alternative decentralized no-KYC platforms. Not to break the law but because these trad-fi-proximal companies leave many no viable choice.

RESPONSE TO BITCOIN WELL

Thanks for replying, Bitcoin Well. I think your team knows there are already devices on the market that use non-commercial operating systems that are at least as secure as commercial OSes. Linux offers distros that are so secure and stable they're used by military and other high security services. Fintech could choose to release apps compatible with FOSS OSes. New phones every few years to stay up to date OR succumb to security threats is a false dichotomy. Nor is a device "obsolete" because a manufacturer chooses not to support it any longer to encourage users to buy new devices--a business strategy our best scientists tell us our world can no longer environmentally afford to normalize.

As for embracing innovation, it would be really innovative to engineer apps compatible with at least ONE free, proven-secure, ecologically responsible (works on older devices) OS.

Lastly, about balancing security and accessibility, if your KYC partner is requiring using newer machines just to gain access to your services, you're choosing to place a participation-tax on the world's non-wealthy. US federal & state governments, health care organizations, banks... and many other KYC-compliant organizations have figured out how to preserve compliance without burdening the non-wealthy with pay-to-play fees. That's balancing security & accessibility.

Thankfully, however, there are growing, trustworthy alternatives already in the market. More and more of us will choose these to preserve our savings without acquiescing to the personal & ecological burdens outlined above. Thanks for the exchange.

Terrible customer service.

I have been waiting 6 days for a response from their support team.

I have had a transaction “under review” for 6 days. Just ridiculous! as a financial company they should have 24/7 support and transactions should always be instant once funds are received from the bank.

Check for help back from scam through the username for help back from scam.

The cheapest and fastest non-custodial bitcoin exchange. I love how I can simply send an e-transfer and then the bitcoin gets sent directly to my cold storage wallet, eliminating counterparty risk that other exchanges have.

Superb interface and easy use! I enjoy the peace of mind it provide to self custody more than everything.

I have been a Bitcoin Well client for a number of years. Their service is exceptional, customer support is excellent, supportive and very knowledgeable. The user interface is clean and simple to navigate. I cannot recommend highly enough Bitcoin Well.
I am a happy Bitcoin Well client @konstantin01

These guys are first class all the way. They do Bitcoin the right way, promoting self-custodial holding of BTC. The options they offer are stellar... many different ways to buy and sell.

tag: bluefuze

Excellent non custodial provider .

@cryptochuk

I have used Bit Well for a long time made dozens of transactions and have had nothing but good results.
Recently I’ve bought &500 of bitcoin which was taken from me account. Several days later I received an email that my account is frozen. I contacted customer support and was told they didn’t keep why.
I would gladly change my rating to5 stars if my account was unfrozen and we could continue to work together again and continue with what once was excellent