Bitcoin @Well

What is Bitcoin Well?

Bitcoin Well is a publicly traded Canadian fintech company (TSXV: BTCW, OTCQB: BCNWF) that provides non-custodial Bitcoin solutions via two main channels:

A nationwide Bitcoin ATM network in Canada.
An online Bitcoin Portal (web platform) for buying, selling, and using Bitcoin—launched in Canada (late 2022) and expanded to the U.S. (early 2023) wired.com+15bitcoinwell.com+15m.canadianinsider.com+15globenewswire.com+4m.canadianinsider.com+4theclarion.ca+4posts.thenew.money.

Founded in 2013 (originally Bitcoin Solutions), the company went public in 2021 after extensive growth and rebranding .

🛠 Key Offerings

1. Bitcoin ATMs

Nearly 200 ATMs across Canada—allows cash-to-Bitcoin transactions with 10–20% fees reddit.com+5revenueagenda.com+5posts.thenew.money+5.

2. Online Bitcoin Portal

Enables non-custodial crypto purchases sending BTC directly to users' wallets (on-chain or via Lightning).
Fees: Typical spread ~1–1.2% (higher for Lite/Cash Voucher accounts) hellosafe.ca+9bitcoinwell.com+9reddit.com+9reddit.com+1reddit.com+1.
Supports recurring buys, bill payments in Canada via Lightning, and sell-to-bank (via e-transfer or direct deposit) with near-instant processing .

3. Bitcoin Well Infinite

An OTC desk for large transactions (>$50k), offering deeper liquidity and personalized service bitcoinwell.com.

✅ Pros & ⚠️ Cons

ProsCons🌐 Fully non-custodial—BTC goes directly to your wallet📉 Spread is higher than on some custodial exchanges (1–1.8%) reddit.com+13bitcoinwell.com+13bitcoinwell.com+13reddit.com+2reddit.com+2reddit.com+2💼 Available in both Canada and USA💬 Mixed customer support feedback—some report slow response 🚀 Instant on-chain or Lightning delivery🏦 ATM fees higher (10–20%) 🔁 Useful features: recurring buys, bill payment, auto-convert to fiat❌ Bitcoin-only—no altcoins, NFTs, or advanced trading features

🗣️ Community Feedback (Reddit Highlights)

“I keep using Bitcoin Well because it's just really convenient, easy to use, and cheap.… I send an e-transfer and it gets deposited into my chosen bitcoin wallet.” ca.finance.yahoo.com+15reddit.com+15reddit.com+15 “Our Lightning buy is normally lightning fast! … We pushed your transaction through!” (from Bitcoin Well team via Reddit) reddit.com+4reddit.com+4ca.trustpilot.com+4

However:

Some users note customer support can be slow and rare transaction delays may occur trustpilot.com+2reddit.com+2reddit.com+2, and spreads can reach 1.5–1.75%, higher than claimed ca.finance.yahoo.com+5reddit.com+5reddit.com+5.

🔍 Is It Legit?

Registered with FINTRAC (Canada)—making it a legitimate Money Services Business theclarion.ca+5hellosafe.ca+5m.canadianinsider.com+5.
However, it’s not regulated by major securities authorities like IIROC or provincial commissions hellosafe.ca.

🧾 Summary

Bitcoin Well is a compelling option if you:

Want a non-custodial way to buy Bitcoin in Canada or the U.S.
Prefer instant delivery via blockchain or Lightning Network.
Need features like recurring buys, bill payments, and OTC services for large volumes.

Just be aware of the higher fees/spreads, no altcoin support, and variability in customer support. If those don’t bother you, it’s a solid pick for Bitcoin-focused users.

Want help comparing it to something else (e.g., Bull Bitcoin, Coinbase), or exploring a specific feature like using Lightning or their OTC desk?

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