Question 1

What fees will I pay when buying bitcoin with Interac e-Transfer?

Accepted Answer

We have a simple spread on all transactions. The rate varies depending on the type of account you have (Lite Account vs. Verified Account). Visit our Rates page for the most up-to-date spread percentages.

Question 2

How fast will I get my bitcoin from Bitcoin Well?

Accepted Answer

There are two (2) bitcoin delivery speeds you can choose. Instant: Your bitcoin is broadcast immediately to your wallet with a small variable network fee shown upfront. Typically takes ~10 minutes once the Interac e-Transfer has been received. Later: We batch and send these at regular intervals throughout the day. The estimated time to receive your coins is displayed clearly. There are no fees charged for this option — it's free!

Question 3

Can e-Transfer payments or bitcoin transfers be reversed?

Accepted Answer

Since we have autodeposit enabled, your e-Transfer is automatically deposited and cannot be cancelled once sent. Bitcoin transactions are permanent once sent, so always double-check your wallet address. This irreversibility is actually bitcoin's strength, giving you true financial independence.

Question 4

Are there limits on how much I can buy with Interac e-Transfer?

Accepted Answer

Your bank sets your e-Transfer limits — the default is typically $2,000 per day for personal accounts. You can always request higher limits from your bank. Many banks offer Interac e-Transfer for Business with higher limits up to $25,000 per transaction.

Question 5

Do I need to verify my identity (KYC)?

Accepted Answer

Yes — as a regulated Canadian MSB, we follow FINTRAC requirements to verify your identity for Interac e-Transfer payments. It's a quick, one-time process through a 3rd party identity verification service called Sumsub. We understand this step might feel like red tape, but it ensures we're operating safely and legitimately, remaining compliant while protecting both you and the broader bitcoin community.

Question 6

Can I really re-buy with Bitcoin Well without logging in each time?

Accepted Answer

Absolutely! Save a wallet label during your first purchase and future Interac e-Transfers will automatically convert to bitcoin and send directly to your wallet. Seamless repeat purchases that fit naturally into your bitcoin journey — it's designed to make your financial independence journey as smooth as possible.

Buy bitcoin with Interac e-Transfer®

A faster, simpler way to buy bitcoin in Canada

No login required

Embrace financial independence

Frequently asked questions

Join the Bitcoin Well Insider