FAQs: Buy Bitcoin

Do I need to be in Canada to receive payment?

You do not have to be physically present in Canada to receive CAD (Canadian Dollars) but you do need to have a Canadian Bank that we send the funds to.

Why is selling to Bitcoin Well safer than from an exchange?

Bitcoin Well provides the safest and fastest way to sell bitcoin and other cryptocurrencies by ensuring you are never exposed to the risks of trusting centralization in every way possible. When you sell to our ATMs your cash is dispensed after 1 confirmation on the network (within 10 minutes when sent with a standard tx fee). When selling online you are provided with a receipt of transfer immediately and your transfer is initiated immediately upon 1 confirmation on the network. Unfortunately, the banking system may take up to 3 business days for payment through Interac e-Transfer and up to 3 business days for Pre Authorized Debit (PAD) or other online transfer methods.

What are the fees involved, and what do they cover?

We are proud to have a tiered fee structure ranging from 3% to 5% depending on volume and desired method of CAD (Canadian Dollars) transfer. The fee you pay enables us to continue providing you with the best possible service, building infrastructure, and developing new products driving us towards the end goal of making Bitcoin easy to buy and sell.