#77 of 115 in the US ranking · Bitcoin-only
Bitcoin Well Review (October 2026): Fees, US States and Licenses
Best for: Non-custodial bitcoin purchases
5.0/10
By Vahe Hakobyan Verified Medium confidence No affiliate links
- Taker fee— Not verified
- US states— Not verified
- New YorkYes
- Coins1
- CustodyNon-custodial
- App Store— Not verified
Our verdict
Bitcoin Well is a non-custodial bitcoin platform from Edmonton-based Bitcoin Well Inc. (TSXV: BTCW), serving US customers through Independent Well USA Corp., a FinCEN-registered money services business. Purchases funded by ACH are sent directly to the customer's own wallet. The US portal charges a 1.2% spread on buys and sells with no account or withdrawal fees. It reported over 20,000 registered US users in March 2026.
Pros
- Bitcoin delivered straight to the buyer's own wallet
- Flat 1.2% spread; no account or withdrawal fees
- Parent company is publicly traded (TSXV: BTCW; OTCQB: BCNWF)
Cons
- Small US footprint: about 20,000 registered users (March 2026)
- No state-by-state availability list found on official pages
- Requires users to manage their own bitcoin wallet
Bitcoin Well fees
- Maker / taker
- — Not verified
- Simple buy
- 1.2% spread on buys and 1.2% spread on sells in the US Bitcoin Portal
- Volume tiers
- Portal rates do not apply to Bitcoin Well Infinite, the OTC service for transfers of $50,000 or more (pricing not published).
- ACH deposit
- No separate fee listed (cost is in the 1.2% spread)
- Wire deposit
- — Not verified
- Card purchase
- — Not verified
- USD withdrawal
- No withdrawal fee listed; sale proceeds are sent to a bank account
- Crypto withdrawal
- No withdrawal fee; purchases are delivered directly to the customer's own wallet
- Other fees
- No account fees
- Minimum deposit
- — Not verified
Is Bitcoin Well available in my state?
US residents can use the online Bitcoin Portal through Independent Well USA Corp.; the company's About page (checked Oct 2026) says the Portal covers all 50 US states.
The list of states this platform serves is not verified yet.
About page says the online platform is available in all 50 US states; DC is not mentioned. Terms (effective Oct 1, 2026) let Independent Well restrict states but list none.
- New York
- Yes
- ID check (KYC)
- Yes
- Withdraw crypto
- Yes
- Funding
- ACH, Wire
Is Bitcoin Well regulated?
- FinCEN MSB
- TSXV: BTCW; OTCQB: BCNWF (parent)
- US operator
- Independent Well USA Corp. (d/b/a Bitcoin Well)
- Parent company
- Bitcoin Well Inc. (TSXV: BTCW; OTCQB: BCNWF)
- State licenses
- — Not verified
- New York license
- — Not verified
- Other
- Company cites FinCEN MSB registration number 31000308454032 for the US entity (a Wyoming corporation); the Canadian parent cites FINTRAC registration M19811620.
- Founded
- — Not verified
- Headquarters
- Edmonton, Alberta, Canada
How secure is Bitcoin Well?
- Proof of reserves
- N/A (non-custodial)
- Audits
- — Not verified
- Insurance
- — Not verified
Incidents since 2019
None found in the sources checked.
Crypto held on a platform is not covered by FDIC or SIPC insurance.
What you can do on Bitcoin Well
- Spot
- IRA
- OTC desk
Bitcoin only and non-custodial: purchases go straight to the customer's own wallet and sales are made from it, with USD paid to a bank account. Also lists a Bitcoin IRA and the Infinite OTC service for $50,000+. The parent's bitcoin ATMs operate in Canada only.
- Apps
- Web
- Support
- Chat, Email, Help center
Bitcoin Well FAQ
Can New York residents use Bitcoin Well?
Yes. Bitcoin Well accepts New York residents.
What are Bitcoin Well's fees?
Simple buy: 1.2% spread on buys and 1.2% spread on sells in the US Bitcoin Portal.
Is Bitcoin Well regulated in the US?
US customers are served by Independent Well USA Corp. (d/b/a Bitcoin Well). Registrations and licenses on record: FinCEN MSB, TSXV: BTCW; OTCQB: BCNWF (parent).
Can I withdraw crypto from Bitcoin Well to my own wallet?
Yes. Bitcoin Well lets US users send crypto to an external wallet.
Does Bitcoin Well require ID verification?
Yes. Bitcoin Well verifies your identity before you can trade.
How many cryptocurrencies can I trade on Bitcoin Well?
About 1 cryptocurrencies are available to US users, per Bitcoin Well's official asset list.
Alternatives to Bitcoin Well
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Strike#29 · Lightning payments, recurring buys6.1
River#40 · Fee-free recurring buys5.8
Not financial advice. Crypto prices are volatile and you can lose everything you put in. World-Crypt earns nothing from the platforms reviewed here.