Note: Bitvo no longer exists. In November 2023, its client accounts were acquired by Bitbuy and migrated into the WonderFi ecosystem, and the Bitvo platform was wound down. Bitbuy itself was then acquired by Robinhood, which completed its C$250M acquisition of WonderFi on June 1, 2026. Former Bitvo customers with account questions should contact Bitbuy/Robinhood support. This comparison is preserved for historical reference, and our current recommendation follows at the end.
Bitcoin Well and Bitvo, two notable cryptocurrency exchanges in Canada, each carved a unique niche. While Bitcoin Well is revered for its self-custody model, ATM network and transparent TSXV listing, Bitvo was a customer-centric exchange known for its Same Day Guarantee and 24/7 phone support before winding down in 2023.
Bitcoin Well Vs Bitvo: Which Is Better For Canadians?
Bitcoin Well wins by default for Canadians. Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain. Since Bitvo no longer operates for Canadians, I recommend Coinbase (9.8/10, #1 on my list): open a Coinbase account.
How Do Bitcoin Well And Bitvo Compare, Fact By Fact?
Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.
Bitcoin Well Vs Bitvo: Master Spec Table
Bitcoin Well
Bitvo
Winner
Company
Bitcoin Well Canada Ltd., Edmonton; parent Bitcoin Well Inc. (TSX.V: BTCW). Founded 2013, listed 2021-07-30. Founder and CEO Adam O'Brien. Staff count: Not published.
Bitvo Inc., Calgary, founded 2018. Bitbuy bought all client accounts (17,000+ per WonderFi) and the domain in November 2023. Founders and funding: Not published.
Depends
Regulation
FINTRAC MSB M19811620, expires 2026-10-08 (renewal not yet seen). Not on the CSA list, no CIRO membership, no CIPF.
FINTRAC MSB M20580992 Ceased 2024-10-08. Bitvo Inc. is under CSA Expired Decisions.
Bitcoin Well
Assets
Bitcoin only. No order book, no staking, no leverage.
Small list: BTC, ETH, XRP, LTC, ADA, QCAD.
Bitcoin Well
Price
Spread: buy 1.5%, sell 2.0% (verified, Interac); Lite 4.0% both ways. Not applied to ATM or OTC. Quote dated 2026-10-03, no live price shown.
Zero trading commission, revenue from the spread (rate Not published). 1% withdrawal fee, $15 minimum.
Bitcoin Well
CAD In
Interac e-Transfer on the portal, no separate fee; cash at 160+ ATMs and Lite cash vouchers (4.0% spread). Interac min and max: Not published.
Free deposits; Interac e-Transfer about 30 minutes, no minimum deposit.
Bitcoin Well
CAD Out
Sell to your bank with no withdrawal fee. Methods, minimums and speed: Not published.
1% withdrawal fee with a $15 minimum.
Bitcoin Well
Crypto In And Out
Delivery on-chain or over Lightning to your own wallet, no withdrawal fee. Lightning also for sells and bill payments. Minimums: Not published. No Liquid.
No longer available to Canadians
Bitcoin Well
Custody
Non-custodial: coins are delivered straight to a wallet you control. No custody of coins, so no proof of reserves or insurance is needed or published.
Full reserve, never lent customer funds. BitGo custody, over 80% in cold storage.
Bitcoin Well
Verification (KYC)
Verified account: phone, name, address, birth date, ID, selfie. Lite account: email only for cash vouchers. Business accounts need corporate documents. SIN: Not verified.
No longer available to Canadians
Depends
Account Types
Verified, Lite, business, and Bitcoin Well Infinite (private service for trades from CAD 50,000).
No longer available to Canadians
Bitcoin Well
Provinces
Terms: Canadians in a province where Bitcoin Well operates. ATMs in BC, AB, SK, MB, ON, QC, NB and NS. Full online province list: Not verified.
No longer available to Canadians
Bitcoin Well
Extra Products
160+ ATMs, recurring Interac buys, bill payment with bitcoin, Bitcoin Well Points redeemed for sats, Infinite OTC desk. No card, loan or staking.
Bitvo Cash Card and the Same Day Guarantee.
Bitcoin Well
Tax Tools
Export transactions by date range as CSV from the account; a Bitcoin Well to Koinly CSV converter exists. No CRA-ready report.
No longer available to Canadians
Bitcoin Well
App
No Apple Canada or Google Play rating found on 2026-10-01. Web portal is the main product. French UI, 2FA and price alerts: Not verified.
No longer available to Canadians
Bitcoin Well
Support
Email hello@bitcoinwell.com. Hours reported as Monday to Friday 9am to 5pm MDT (not on a page I could open). Phone and French: Not verified.
What Are The Key Differences Between Bitcoin Well And Bitvo?
Bitcoin Well Vs Bitvo: Side By Side
Bitcoin Well
Bitvo
Description
Bitcoin Well is a Canadian bitcoin company where you can buy online through your bank or with cash at one of its 160+ Bitcoin ATMs across Canada. Every purchase is sent straight to your own wallet and it never takes custody of your coins. It is publicly listed (TSX.V: BTCW) and its online portal also covers all 50 US states.
Bitvo was a Calgary-based cryptocurrency exchange, founded in 2018, known for its Same Day Guarantee, zero trading fees and 24/7 phone support. In November 2023 its client accounts were acquired by Bitbuy and the Bitvo platform was wound down. It is also remembered as the exchange FTX almost bought, a deal terminated days after FTX's collapse in November 2022.
Coins
Bitcoin only, delivered on-chain or over the Lightning Network, with Lightning also used for selling and bill payments.
A small selection including Bitcoin, Ethereum, XRP, Litecoin, Cardano and QCAD, Canada's first mass-market stablecoin.
Fees
The online portal charges a spread only: 1.5% to buy and 2.0% to sell for verified accounts paying by Interac e-Transfer, and 4.0% either way for Lite accounts using cash vouchers. No withdrawal, account or hidden fees. The rates page says the spreads do not apply to ATM or OTC trades, whose fees are shown before the transaction.
Free deposits, zero trading fees (revenue came from the spread), and a 1% withdrawal fee with a $15 minimum.
Pros
Bitcoin goes straight to your own wallet, on-chain or Lightning
Lowest published online spread among the Canadian Bitcoin-only platforms, 1.5% to buy
Cash at 160+ ATMs and cash vouchers for people who want to avoid a bank link
Lite account needs only an email
Recurring Interac e-Transfer buys sent to your wallet automatically
Pay bills with bitcoin, including over Lightning
Listed on the TSX Venture Exchange
No trading fees
The Same Day Guarantee
The Bitvo Cash Card
Rare 24/7 phone support
Cons
Bitcoin only
Sell spread is 2.0% and Lite accounts pay 4.0%
Not on the CSA list, no CIRO membership, no CIPF
FINTRAC registration expires 2026-10-08 on the registry snapshot, renewal not yet confirmed
ATM prices are higher and shown only at the machine
Support is email only on the terms page
No mobile app rating found
Platform wound down in November 2023 with client accounts sold to Bitbuy
High spreads masked the "zero fee" pitch
The 1% withdrawal fee was a sore point
Small coin selection even at its peak
Security
Non-custodial: the terms state that all bitcoin is delivered to a self-custody wallet you control. FINTRAC-registered MSB. No insurance or proof of reserves is published because there is no custody.
Bitvo operated on a full reserve basis, meaning it never lent customer funds, and held client assets with third-party custodian BitGo, with over 80% in cold storage. No customer funds were reported lost in the wind-down.
Methods To Buy
Interac e-Transfer on the online portal (verified account), cash at ATMs, cash vouchers for Lite accounts, or a recurring Interac e-Transfer.
There was no way to buy through Bitvo after the migration. Former clients were moved to Bitbuy. A site claiming to be Bitvo and taking deposits is an impostor.
App
Web portal; an app rating on Apple Canada or Google Play was not found.
Not published. The website and apps are no longer operational.
Account Limits
Lite account cash vouchers: up to CAD 4,950 per day on the rates page (the buy page also says CAD 3,000). Verified accounts: no limit published. Bitcoin Well Infinite handles trades from CAD 50,000. Limits can be set by risk and payment method.
No minimum deposit. Free 30-minute Interac e-Transfer deposits.
How Do You Fund And Cash Out Bitcoin Well And Bitvo In Canada?
Bitcoin Well: CAD Deposits
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer (portal)
No separate fee, 1.5% spread
Not published
Not published
Not published
Cash at Bitcoin ATM
ATM fee shown at the machine
Not published
Not published
at the machine
Cash voucher (Lite account)
4.0% spread
Not published
CAD 4,950 per day
Not published
Bitcoin Well: CAD Withdrawals
Method
Fee
Minimum
Maximum
Speed
Sell to bank account
No withdrawal fee, 2.0% sell spread
Not published
Not published
Not published
Bitvo: CAD Deposits (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
Free
No minimum
Not published
about 30 minutes
Bitvo: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Fiat withdrawal
1%
CAD 15 fee minimum
Not published
Not published
Interac and sell limits, speeds and weekend handling are not on the pages I could read. The spreads exclude ATM and OTC trades. Bitcoin Well may set limits by risk and payment method. All funding now ended. Accounts moved to Bitbuy.
What Does It Actually Cost To Buy On Bitcoin Well?
Worked Cost, Buy Only And Buy Plus Sell (Round Trip)
Amount
Bitcoin Well Buy
Bitcoin Well Round Trip
CAD 100
$1.50
$3.50
CAD 500
$7.50
$17.50
CAD 1,000
$15.00
$35.00
CAD 10,000
$150.00
$350.00
Bitcoin Well: Rates page checked 2026-10-03: verified account via Interac, buy 1.5% and sell 2.0%. Lite account 4.0% both ways. Not valid for ATM or OTC. Neither publishes a maker and taker schedule because there is no order book: the spread is the fee. If cost matters most, NDAX (flat 0.20%) or Kraken Pro are cheaper places to buy in Canada. Ranges reflect each platform’s published band, not a single quote. Bank and network fees are not included.
What Do Bitcoin Well And Bitvo Offer Beyond Buying And Selling?
Bitcoin Well Only
Bitcoin ATMs: 160+ machines in Canada for cash buys, no account needed; the price is shown before the transaction and is not covered by the portal spread.
Recurring buy: Set a recurring Interac e-Transfer; each time it arrives, bitcoin is sent automatically to your own wallet.
Bill payment with bitcoin: Add a Canadian payee and send bitcoin on-chain or over Lightning; it is converted to CAD and paid. A permanent per-payee address and a 1% spread with a 0.1 BTC cap were reported by search results and not confirmed on the page.
Bitcoin Well Infinite: Private service for trades from CAD 50,000 with an Executive Bitcoin Advisor.
Bitcoin Well Points: A rewards programme whose points redeem for sats; no cash signup bonus found.
Bitvo Only
Bitvo Cash Card: A prepaid card product listed among Bitvo's strengths.
Same Day Guarantee: A funding-speed promise Bitvo marketed.
What Happens To Your Money If Bitcoin Well Or Bitvo Fails?
Bitcoin Well: Bitcoin Well never holds your coins, so the main exposure is the cash in transit and the quote: you pay by Interac or cash and rely on the company to send the bitcoin to your wallet. It is a FINTRAC-registered MSB only, with no CSA registration, no CIRO membership and no CIPF, and the terms mention no insurance. A wrong wallet address or a scam is your loss. The FINTRAC registration shown expires 2026-10-08, so confirm the renewal before relying on it.
Bitvo: This was a merger, not a collapse: Bitvo's client accounts moved to Bitbuy, which has since moved to Coinsquare Capital Markets Ltd. and now Robinhood, per the registry. Check that you are logged into your account with the current owner and withdraw to a wallet if you prefer. Do not send crypto to an old Bitvo address or trust a site using the Bitvo name.
How Are Bitcoin Well And Bitvo Treated For Tax In Canada?
Bitcoin Well: Each sell, bitcoin-funded bill payment or Lightning payment is a disposition, and each buy sets your cost base. Export your history as CSV by date range and load it into Koinly or another tax tool; there is no CRA-ready report.
Bitvo: Trades on Bitvo were dispositions for CRA purposes. Ask for or export your Bitvo history from your migrated Bitbuy account. Export formats: Not published.
Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.
Which Should You Choose, Bitcoin Well Or Bitvo?
Choose Bitcoin Well If
You want bitcoin sent straight to your own wallet, on-chain or over Lightning, at a low published spread.
You want to buy with cash at an ATM or without a full bank-linked account.
You want to pay Canadian bills with bitcoin.
You trade above CAD 50,000 and want a private desk.
Choose Bitvo If
You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.
What Happened To Bitvo?
Bitvo did not leave Canada, it merged into Bitbuy. Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain, in a deal announced on November 15, 2023.
WonderFi put the number of moved accounts at 17,000 plus. Bitvo Inc. now sits under expired decisions on the CSA site, its FINTRAC registration shows as ceased on October 8, 2024, and bitvo.com no longer resolves in DNS as of October 2, 2026.
The catch is that the platform Bitvo merged into has since merged again. Bitbuy accounts moved to Coinsquare Capital Markets Ltd. in 2024, and Robinhood closed its WonderFi purchase on June 1, 2026.
Bitvo: What The Records Show
Item
Record
Status
Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain.
Bitvo Inc. is under 'Crypto Platforms Expired Decisions' on the CSA site (Decision, Expired)
FINTRAC record
BITVO INC. M20580992 Ceased 2024-10-08
What Should Bitvo Users Use Instead?
Bitcoin Well is the available side of this pair, and it suits one job well: buying Bitcoin and sending it to a wallet you control. Bitcoin Well charges a spread only, spread only: 1.5% to buy and 2.0% to sell on the online portal; lite accounts 4.0%, and it is fintrac msb (bitcoin well canada ltd.); not a csa platform; not a ciro member. It is tenth in my ranking at 6.4 out of 10.
If you traded more than Bitcoin on Bitvo, Bitcoin Well will not cover it, because it sells Bitcoin only. The replacement the registry points to is NDAX.
Where Bitvo Users Can Go Instead
Platform
Canadian Status
Published Fee
CAD Funding
Coins
My Ranking
NDAX
CSA-registered; CIRO Dealer Member since December 19, 2024
Flat 0.20% on every buy and sell
Interac e-Transfer and wire, free
77 base assets (public API)
#7 of 10, 7.8/10
NDAX. NDAX is a CIRO Dealer Member since December 19, 2024, charges a flat 0.20% on every trade and takes Interac e-Transfer and wire for free. It is seventh in my ranking at 7.8. The public API lists 77 base assets, there is a 20% administration fee on staking and Auto Earn rewards, and the pages I could read show no insurance dollar figure.
What Changed For Bitvo And Bitcoin Well In October 2026?
: Bitbuy announced it had bought Bitvo's client accounts and the Bitvo.com domain.
: CSA decision and CIRO membership (investment dealer) for NDAX Canada Inc..
Frequently Asked Questions
Is Bitvo Still Available To Canadians?
Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain.
What Should I Use Instead Of Bitvo?
NDAX is the registry pick: Alberta-based registered Canadian platform with CAD funding, the nearest like-for-like for an Alberta-origin exchange. If you only want Bitcoin delivered to your own wallet, Bitcoin Well is a straightforward option.
Is Bitcoin Well Registered In Canada?
Bitcoin Well Canada Ltd. is a FINTRAC-registered MSB. It is not on the CSA list of authorized crypto platforms and is not a CIRO member.
How Much Does Bitcoin Well Charge?
On the online portal for verified accounts, the spread is 1.5% to buy and 2.0% to sell, paid by Interac e-Transfer. Lite Accounts pay 4.0%. The rates page says there are no withdrawal fees, account fees or hidden fees.
Does Bitcoin Well Sell Coins Other Than Bitcoin?
No. Bitcoin Well is Bitcoin only, delivered on-chain or by Lightning to your own wallet.
Do Bitcoin Well And Bitvo Have Limit Orders?
Bitcoin Well: No: you buy and sell at the quoted portal price. Bitvo: Not published
Which Coins Can You Buy On Bitcoin Well And Bitvo?
Bitcoin Well: Bitcoin only Bitvo: Small list, closed
Is The Spread The Fee On Bitcoin Well And Bitvo?
Bitcoin Well: The 1.5% buy and 2.0% sell spread is the whole fee: no withdrawal or account fees. Bitvo: No longer applicable.
Does CIPF Cover My Crypto On Bitcoin Well Or Bitvo?
Bitcoin Well: Bitcoin Well is not a CIPF member; CIPF never covers crypto. Bitvo: CIPF never covers crypto, and this platform no longer serves Canadians.
Are Bitcoin Well And Bitvo Available In Every Province?
Bitcoin Well: Online province list not published; ATMs sit in eight provinces. Bitvo: No longer available in any province.
Do Interac Deposits Work On Weekends On Bitcoin Well And Bitvo?
Bitcoin Well: Not published. Bitvo: No longer applicable.
What Is The Minimum Buy On Bitcoin Well And Bitvo?
Bitcoin Well: Not published for Interac; Lite cash vouchers cap at CAD 4,950 per day. Bitvo: No longer applicable.
Can A Business Use Bitcoin Well Or Bitvo?
Bitcoin Well: Yes, business accounts need corporate documents; Infinite serves trades from CAD 50,000. Bitvo: No longer applicable.
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
