Exciting News for Canadians: Buy Bitcoin Instantly with KOHO & NEO e-Transfer, DCA bitcoin with NEO

Exciting News for Canadians: Buy Bitcoin Instantly with KOHO & NEO e-Transfer, DCA bitcoin with NEO

By Konrad Fitzpatrick · 12/3/2024

Great news for Canadians! KOHO and NEO customers can use their bank accounts to buy bitcoin with e-Transfer! Additionally, NEO customers can use bill payment to DCA 🙌

To buy bitcoin instantly, simply send an e-Transfer to the payee details in the Buy bitcoin page. Bitcoin Well automatically converts dollars to bitcoin and sends them directly to your personal bitcoin wallet. Additionally, NEO customers can set up a DCA by adding the payee info in the Recurring buy page as a scheduled bill payment in the NEO app. 

KOHO and NEO customers can buy bitcoin directly to self custody and start the journey to independence 🚀

Below are step by step guides on how to buy bitcoin via e-Transfer, as well as bill payment for recurring buys (DCA). 

Instant bitcoin buy: Step-by-Step Guide 

Step 1: Navigate to the Buy bitcoin page

Log in to Bitcoin Well and click Buy bitcoin. Click “My bitcoin wallet” and add your bitcoin wallet, if you haven’t already. We recommend Blue Wallet. 

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Step 2: Add your e-Transfer payee details to your bank

Click on Interac e-Transfer to reveal your unique payment details, and add your e-Transfer details to your KOHO or NEO bank. 

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To add Bitcoin Well as an e-Transfer payee in KOHO, click on ‘Send’ and then ‘Add new’ to add a new e-Transfer recipient. Enter your e-Transfer details from the previous step. 

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To add your Bitcoin Well e-Transfer details for NEO, navigate to ‘Payments’ then click ‘Send.’ Then select ‘Add a contact’ and enter your e-Transfer details info from the Buy bitcoin page in your Bitcoin Well account. 

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Step 3: Send Your e-Transfer

Enter a dollar amount, select your Bitcoin Well e-Transfer payee and send your e-Transfer. Once received, Bitcoin Well instantly converts your dollars to bitcoin and sends the BTC to your personal bitcoin wallet.

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If you’re a NEO customer and you’d like to automatically buy bitcoin on fixed intervals (biweekly, monthly etc.) then keep reading for our bill payment guide 👇

Recurring bitcoin buy: Step-by-Step Guide 

Step 1: Navigate to the Recurring buy page

Log in to Bitcoin Well and click Recurring buy. Click “My bitcoin wallet” and add your bitcoin wallet, if you haven’t already. We recommend Blue Wallet. 

Step 2: Add your bill payee details to your bank

Add your payee details displayed in your Recurring buy page to NEO banking app.

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The process for adding our payment partner APAYLO FINANCE TECHNOLOGY as a bill is the same as adding any bill. In NEO, navigate to ‘Payments’ and select ‘Pay bill’. Next tap ‘Select a payee’ then ‘Add payee’ and then enter the Apaylo payee information displayed within your Recurring buy page. 

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Start a bill payment to your newly added Apaylo payee. Enter an amount and a payment frequency. Each time Bitcoin Well receives your bill payment, we automatically convert your dollars into bitcoin and send the bitcoin to your personal bitcoin wallet. 

Step 3: Set your payment size and frequency 

Start a bill payment to the Apaylo payee, select the payment amount and the payment frequency. We suggest a biweekly or monthly recurring payment. Aim to keep this running for a long time to take advantage of bitcoin’s long term growth.  The dollars you send are automatically converted to bitcoin and sent to your personal  bitcoin wallet. You are now buying bitcoin on auto-pilot!

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Customers using recurring buys set weekly or more frequently ought to leverage the Lightning Network to save on future blockchain fees!

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Step 4: Relax and watch your bitcoin wallet fill up

Bitcoin Well automatically covers your blockchain fee, saving you sats (fractions of a bitcoin) and work. With automatic bitcoin purchases, you don’t have to lift a finger while accumulating the most precious asset known to man that simultaneously opens you up to the path to self-sovereignty and independence. 

Why Use Bitcoin Well?

Bitcoin Well empowers Canadians to live on a Bitcoin standard by providing seamless tools to buy, sell, and spend bitcoin. With Lightning Network integration, we make transactions faster and more convenient than ever, enabling you to:

  • Swap between to/from the Lightning Networkfor free 

  • Buy and sell bitcoin instantly via the Lightning Network

  • Earn sats through with the Bitcoin (Wishing) Well 

  • Refer friends and earn bitcoin whenever they use Bitcoin Well 

Invest in Bitcoin Well

We are publicly traded (and love it when our customers become shareholders!) and hold ourselves to a high standard of enabling life on a Bitcoin standard. If you want to learn more about Bitcoin Well, please visit our website!

KF
Konrad Fitzpatrick

Konrad has been a Bitcoin Analyst since 2018 leveraging an economics background to deliver unique insights on Bitcoin, product, bitcoin mining, and macro-economics.

Exciting News for Canadians: Buy Bitcoin Instantly with KOHO & NEO e-Transfer, DCA bitcoin with NEO - Bitcoin Well Blog