Sign up

Bitbuy vs. Bitcoin Well

Two Canadian ways to buy bitcoin. The difference is where your bitcoin ends up after you buy it.

Create my free accountSee the full comparison

Where does your bitcoin end up?

With Bitbuy, your bitcoin goes into your Bitbuy account, held in their custody.

Bitcoin Well delivers every bitcoin purchase directly to a wallet you control.

Which is right for you?

Pick the one that fits your needs. Both are Canadian platforms with different strengths.

Bitbuy may suit you if you want...

  • ETH, SOL, and many other cryptocurrencies
  • staking on supported assets
  • limit orders with Bitbuy Pro
  • your bitcoin held in Bitbuy’s custody until they approve your withdrawal request

Bitcoin Well may suit you if you want...

  • bitcoin delivered directly to your personal wallet on every purchase
  • private bitcoin purchases with a Lite Account & Cash Vouchers
  • your bills paid directly from your bitcoin wallet
  • Wishing Well rewards for every purchase or sale
  • a responsive Canada-based customer support team
Create my free accountSee the full comparison

Bitbuy vs. Bitcoin Well at a glance

Bitbuy and Bitcoin Well both let Canadians buy bitcoin with Interac e-Transfer, but they’re built around different ideas.

Bitbuy

A multi-asset custodial trading account

  • Bitcoin, ether, Solana and many other cryptocurrencies
  • Market orders, limit orders and staking
  • Your assets held in their custody
  • Regulated as an investment dealer
Bitcoin Well

Bitcoin delivered straight to your wallet

  • Bitcoin only, delivered by Lightning or on-chain
  • A fixed spread for purchases and sales
  • Lite Accounts for buying bitcoin privately
  • Cash purchases at 160+ Bitcoin Well ATMs

Trustpilot score

As of October 26, 2026

Bitbuy suits those who want a broader crypto account and are comfortable letting a company hold their assets. Bitcoin Well suits people who want each purchase delivered to their own wallet, where they control the keys.

Side-by-side comparison

How Bitbuy and Bitcoin Well compare on the details that matter most when you buy bitcoin in Canada.

  • How it works

    Bitbuy
    A multi-asset trading account. Your bitcoin stays in your Bitbuy account until you withdraw it.
    Bitcoin Well
    Bitcoin-only. Every purchase is delivered directly to your personal bitcoin wallet.

  • Where your bitcoin is held

    Bitbuy
    Held in your Bitbuy account, in their custody.
    Bitcoin Well
    In a self-custody wallet you control. Bitcoin Well doesn’t hold customer bitcoin.

  • What you can buy

    Bitbuy
    Bitcoin, ether, Solana and many other cryptocurrencies. Some are trade-only.
    Bitcoin Well
    Bitcoin only

  • Order types

    Bitbuy
    Market orders, and limit orders that the account agreement provides for.
    Bitcoin Well
    One-time buys and sells at the quoted price

  • Recurring buys

    Bitbuy
    Recurring buys aren’t listed on the current fee schedule.
    Bitcoin Well
    Recurring Buys, each delivered straight to your wallet

  • Cost to buy

    Bitbuy
    A 0.95% order fee, or a quoted spread of 0.5% to 1.85%.
    Bitcoin Well
    A 1.5% spread for Verified Accounts. Buying bitcoin privately with a Lite Account has a 4% spread.

  • Cost to sell

    Bitbuy
    The same order fee or quoted spread applies when you sell.
    Bitcoin Well
    A 2.0% spread for Verified Accounts. Selling bitcoin privately with a Lite Account has a 4% spread.

  • Getting bitcoin to your wallet

    Bitbuy
    You withdraw bitcoin to your own wallet on the Bitcoin network. Bitbuy doesn’t guarantee how long that transfer takes.
    Bitcoin Well
    Every purchase is delivered to your wallet, either by Lightning or on-chain. Batched on-chain delivery is free; faster on-chain delivery may include a network fee.

  • Interac e-Transfer

    Bitbuy
    Free Interac e-Transfer deposits up to $15,000, and free withdrawals up to $2,000 once a day.
    Bitcoin Well
    Buy with Interac e-Transfer. Get paid by Interac e-Transfer when you sell.

  • Other ways to move money

    Bitbuy
    Wire deposits are free from $10,000. Wire and direct-bank withdrawals cost 1.5%.
    Bitcoin Well
    Cash at 160+ Bitcoin Well ATMs, Cash Vouchers, bill payments with bitcoin, and direct deposit for larger sales

  • Identity verification

    Bitbuy
    A current Canadian government photo ID, plus a verified email and phone number.
    Bitcoin Well
    Lite Account: only an email address is needed. Verified Account: quick verification via SumSub.

  • Regulation

    Bitbuy
    A trade name of Coinsquare Capital Markets Ltd., a CIRO member and investment dealer owned by Robinhood.
    Bitcoin Well
    FINTRAC-registered money services business. Publicly traded company listed on the TSX Venture Exchange.

  • Protection for your bitcoin

    Bitbuy
    Cash is covered by CIPF. Crypto isn’t covered by CIPF or CDIC.
    Bitcoin Well
    Your bitcoin is in your own wallet, so its safety depends on how you protect your keys. Bitcoin Well can’t recover lost keys.

  • Where you use it

    Bitbuy
    iOS and Android apps, and the web.
    Bitcoin Well
    The Bitcoin Portal web app, works on desktop, tablets and mobile

  • Support

    Bitbuy
    A contact form, with no phone support, described on Bitbuy’s site as 24/7.
    Bitcoin Well
    Help Center and email, weekdays 9 a.m. to 5 p.m. Mountain time

  • Tax records

    Bitbuy
    Transaction activity in your account. Any gain and loss tools aren’t warranted as tax advice.
    Bitcoin Well
    CSV export of your transaction activity

Where your bitcoin is held

This is the biggest difference between the two. Bitbuy holds your bitcoin for you until you withdraw it. Bitcoin Well sends it directly to a wallet you control as part of every purchase.

Bitbuy

Held for you in your Bitbuy account

  • Bitcoin you buy is held in trust. Cold storage is with Coinbase Custody and BitGo, and a smaller amount may sit in a Fireblocks hot wallet.
  • An October 9, 2026 OSC decision requires at least 80% of client crypto to be held with third-party custodians. Bitbuy’s trust centre says over 90% is in cold storage, and that page’s figures were last updated in 2024.
  • Bitbuy’s agreement doesn’t guarantee how long a transfer to your own wallet takes. A transfer can be delayed for the network or for extra security checks.
Bitcoin Well

Delivered to your own wallet

  • Every purchase is delivered to a self-custody wallet you control, by Lightning or on-chain.
  • Bitcoin Well doesn’t hold customer bitcoin after a purchase.
  • You’re responsible for your wallet, keys and seed phrase. Bitcoin Well can’t recover lost keys.
  • You’ll need a bitcoin wallet before you buy.

Bitbuy takes key management off your plate, but your bitcoin depends on Bitbuy and its custodians until you withdraw it. Bitcoin Well does not hold your bitcoin; it sends it directly to your wallet, so you’re in control from the start.

Fees and pricing

Bitbuy’s later fee schedule charges an order fee or a quoted spread. Bitcoin Well publishes one spread.

Bitbuy

An order fee, or a quoted spread

  • Robinhood Trading on Bitbuy’s fee schedule charges 0.95% per order. These are market orders, and slippage within 1% on a buy or 5% on a sell is passed on to you.
  • Coinsquare Trade quotes include a spread of 0.5% to 1.85%, which can rise by up to another 2% when liquidity is thin. There’s no separate trading fee on those quotes.
  • Bitbuy’s fees page, updated July 22, 2026, still lists Express trades with an unpublished spread and Pro trades at 0.50%. The October 1 schedule is the later document.
Bitcoin Well

A fixed spread

  • Verified Accounts: 1.5% spread to buy, 2.0% to sell.
  • Lite Accounts: pay a 4% spread to buy or sell.
  • There are no withdrawal fees, account fees or hidden fees. Faster on-chain delivery may include a small network fee.

Bitbuy’s 0.95% order fee is below Bitcoin Well’s 1.5% buy spread. A quoted trade can land above or below 1.5%. Either way the bitcoin stays in the Bitbuy account until you withdraw it, while a Bitcoin Well purchase arrives in your wallet.

Identity verification and privacy

Both platforms follow Canada’s anti-money-laundering rules, so neither is anonymous. The difference is how much you share to get started.

Bitbuy

Photo ID for every account

  • Bitbuy accepts a current Canadian passport, driver’s licence, photo ID card or permanent residence card.
  • You also verify an email address and a phone number.
  • Authenticator-app two-factor authentication is supported. Turning it off starts a 7-day withdrawal wait.
Bitcoin Well

Full or Lite

  • Lite Accounts need only an email address and work with Cash Vouchers.
  • Verified Accounts need to verify their identity via SumSub.
  • Bitcoin Well doesn’t sell personal information.

If you’d rather share less personal information, a Lite Account is the lighter path. Both companies ask for information when the law requires it.

Regulation and ownership

The two platforms are regulated under different regimes, and Bitbuy’s owner changed in 2026.

Bitbuy

A CIRO investment dealer, owned by Robinhood

  • Bitbuy is a trade name of Coinsquare Capital Markets Ltd., a CIRO member and an investment dealer in every province and territory.
  • Robinhood Markets (Nasdaq: HOOD) owns it indirectly, after acquiring WonderFi on June 1, 2026. The trust centre still describes WonderFi as the owner.
  • It’s a FINTRAC-registered money services business. Cash in the account is covered by CIPF. Crypto isn’t covered by CIPF or CDIC.
Bitcoin Well

A registered money services business

  • Bitcoin Well Canada Ltd. is a FINTRAC-registered money services business (#M19811620) and is registered with Revenu Québec (#11314).
  • It’s registered with the Bank of Canada as a payment service provider under the Retail Payment Activities Act.
  • Its parent, Bitcoin Well Inc., is publicly traded on the TSX Venture Exchange (BTCW), so its financial statements are public.

Bitbuy’s dealer registration adds securities oversight. Both parents publish financial statements: Robinhood on Nasdaq, and Bitcoin Well on the TSX Venture Exchange.

Security and track record

Security looks different when you hold your own bitcoin. Here’s what each company discloses.

Bitbuy

Regulated custodians, with limits on the insurance

  • Cold storage is with Coinbase Custody, a New York trust company, and BitGo, a South Dakota trust company. Fireblocks secures the hot wallet and holds a SOC 2 Type 2 report.
  • The account agreement says insurance may not cover every claim.
  • Client crypto isn’t loaned, pledged or used in the company’s own business.
Bitcoin Well

No customer bitcoin held

  • Bitcoin you buy is delivered to your own wallet.
  • Bitcoin Well does not hold any customer bitcoin.

Frequently asked questions

Own your bitcoin from day one

Create your account and start buying real bitcoin, delivered straight to a wallet you control.

Create my free account
✓ Quick account setup✓ 100% self-custody

Last checked October 26, 2026 against each company’s published fees, help articles and legal documents.

Information about Bitbuy and Bitcoin Well was checked against each company’s published materials on October 26, 2026 and may have changed since. Check each provider’s own site before you decide. Bitbuy is a trademark of its owner. Bitcoin Well isn’t affiliated with or endorsed by Bitbuy. Logos and app images belong to their owners and are shown only to identify each service.

This comparison is general information, not financial, legal or tax advice. Bitcoin’s price can be volatile.