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Bitcoin Well vs. VirgoCX: What Works Better For Canadians in 2024

Oleg Galeev

Last updated May 25, 2024

In the rapidly evolving Canadian cryptocurrency market, two giants emerge: Bitcoin Well and VirgoCX. While Bitcoin Well has carved its niche as a trusted Bitcoin-centric platform, VirgoCX boasts a broader cryptocurrency repertoire and intriguing features such as an NFT marketplace.


Bitcoin Well is a Canadian crypto trading platform that gives customers the choice of buying bitcoin with funds from their bank or with cash at one of their 280 Bitcoin ATMs across Canada. Both methods send the crypto directly to the customer’s wallet saving both time and money.

VirgoCX is based in Ontario, and offers Canadians an easy way to trade crypto. They have an NFT marketplace, OTC services to trade large amounts of crypto, and a foreign currency exchange should you wish to convert your fiat. 


Bitcoin only

VirgoCX offers Canadians the ability to trade over 50 cryptocurrencies.


Usually, it's 0.5% for transactions. In your account dashboard, you’ll find a selection of fees and process times. If you don’t mind receiving your bitcoin within 24 hours, then you can select the cheapest option. 

  • Free CAD deposits and withdrawals
  • Free crypto deposits
  • High spreads


  • Immediate self-custody of assets
  • Option to buy bitcoin privately with cash
  • Buy online with Visa debit, e-Transfer or wire
  • No withdrawal fees or wait times
  • Public Company which offers transparency
  • Free deposits and withdrawals
  • Interac e-Transfer available
  • OTC Desk
  • NFT marketplace
  • Insurance for crypto assets
  • Fully regulated in Canada
  • USD and CAD accepted
  • Crypto education portal
  • Advanced trading features
  • Quick Trade available


  • Only Bitcoin available 
  • Not the cheapest fees
  • No advanced order types
  • Advanced trading platforms can be confusing for beginners
  • Relatively higher spreads than other exchanges

Account Limits

  • minimum of $100 payment
  • $50,000 transaction limit.
  • Interac e-Transfer deposit maximum is $10000/day (same for withdrawals)

Methods to buy

  • Interac e-Transfer
  • Wire Transfer
  • Bill Payment
  • Credit & Debit card


As a public company Bitcoin Well has a duty to be transparent with its investors and adhere to all Canadian regulations. Additionally, since you always take full custody of your bitcoin, you do not need to worry too much about the security measures of the platform, since you hold your bitcoin yourself. 

  • $1 Million in crime insurance coverage
  • Cold storage
  • All fiat assets are held with their Canadian banking partner
  • FINTRAC and PIPEDA compliant

Mobile and Desktop Trading

Bitcoin Well and VirgoCX, both acknowledge the importance of seamless trading across various devices. On the desktop front, Bitcoin Well is applauded for its intuitive and user-friendly design, resonating with both novice and veteran traders. Meanwhile, VirgoCX’s desktop interface balances between a Quick Trade option for rapid transactions and an Advanced Trade interface with detailed charting tools. The mobile spectrum sees VirgoCX with a presence on both iOS (3.8-star rating from 48 reviews) and Android, noted for its reliability and simplicity. Information on Bitcoin Well's mobile offerings isn't as explicit, but the exchange's commitment to usability suggests a solid mobile experience.

Bitcoin Well

Bitcoin Well has a simple website since most of the transactions happen either in person at a Bitcoin ATM or via your bank. Once your account is verified, you’ll have full access to your online dashboard.

Transaction limits on Bitcoin Well

Setting up the account with Bitcoin Well


VirgoCX has a mobile app for both iPhone and Android users. On iOS, the VirgoCX app has a 3.6-star rating with over 50 reviews. On Google Play it does not currently have a rating but has many positive reviews. Some reviewers say the verification process takes a long time, but others say the app is easy to use and reliable. 

Advanced trading with VirgoCX

Advanced trading with VirgoCX

Main dashboard on VirgoCX

Main dashboard on VirgoCX

Quick trade and Advanced trade on VirgoCX mobile app

Quick trade on VirgoCX app

VirgoCX mobile app

VirgoCX mobile app view

Security Compliance

As a public company Bitcoin Well has a duty to be transparent with its investors and adhere to all Canadian regulations. Additionally, since you always take full custody of your bitcoin, you do not need to worry too much about the security measures of the platform, since you hold your bitcoin yourself. 

VirgoCX offers $1 Million in crime insurance coverage with Coinbase Custody. Should the exchange be compromised, VirgoCX could potentially refund any customers’ stolen coins. 

VirgoCX’s crypto assets are held in cold storage with Coinbase Custody and only a small amount are kept on the platform for trading. All fiat assets are held with their Canadian banking partner, though it is not mentioned who the partner is. However, we always recommend transferring all the funds to your own Canadian crypto wallet.

The digital landscape of cryptocurrency demands robust security. Bitcoin Well rises to the occasion with multi-factor authentication, cold storage solutions, and relentless monitoring, encapsulating a fortress of security. On the other side, VirgoCX projects confidence by insuring up to $1 million with Coinbase Custody. Their majority assets in cold storage and additional layers, like two-factor authentication and email verification for logins, further fortify its defense. It's challenging to declare a definitive victor on this front, but both platforms project an aura of safety.

Regulatory Compliance

Bitcoin Well is registered with FINTRAC and fully legal in Canada.

VirgoCX is registered with FINTRAC and PIPEDA. Therefore, it is fully compliant in Canada. VirgoCX also has regular audits which prove that its reserves exist. 

Canada’s regulatory landscape ensures crypto exchanges adhere to stringent standards. Bitcoin Well proudly aligns with Canadian legal benchmarks, embodying a platform of trust. VirgoCX also stands tall, being registered with FINTRAC and PIPEDA, reinforcing its commitment to Canadian compliance. Both exchanges, through their unwavering adherence to federal laws, underscore their dedication to providing a lawful and transparent trading environment.

Customer support

Bitcoin Well aims to provide great customer service and although it only has five reviews on Trustpilot, it has a 4.1-star rating, which is good.  If you need support, you can browse the many help sections on their website, open a support ticket online, or even call or text their team. Most crypto exchanges do not offer a support phone number so this is a big plus. 

If you need help, you can contact VirgoCX’s support team via email or live chat 24/7. They also offer multi-language support. Not many exchanges offer live chat.

Behind every robust platform is a team of committed professionals. Bitcoin Well's ethos centers around its users, reflecting in their swift and knowledgeable support system. VirgoCX, meanwhile, pushes the envelope with 24/7 support, accessible via email and live chat, and even offers multilingual assistance. Their emphasis on client satisfaction is palpable, ensuring users always find a guiding hand.


Drawing a line between two titans is never straightforward. Both Bitcoin Well and VirgoCX shine as beacons of excellence in the Canadian crypto domain, each with its unique flair. However, diving deep, Bitcoin Well slightly edges out, not just for its stalwart security and user-centric approach but also for its unwavering commitment to Canadian regulations. It’s not just a crypto exchange; it’s a statement of trust.

We recommend choosing Bitcoin Well over VirgoCX for your cryptocurrency trading needs. By opting for Bitcoin Well through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Bitcoin Well nor VirgoCX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.


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.