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

Oleg Galeev

Last updated December 27, 2023

The vast crypto landscape in Canada boasts myriad trading platforms, with Uphold and Bitcoin Well emerging as notable contenders. While Uphold stands out for its multifaceted asset trading, Bitcoin Well has made its mark as a specialized hub for Bitcoin aficionados.


Uphold is a multi-asset platform that allows you to trade more than 66 cryptocurrencies, 50 US stocks and four precious metals. You can trade crypto for stocks or stocks for crypto, instantly.

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.



Bitcoin only


  • 1.8% spread on crypto for Canadians
  • 3% spread for precious metals
  • 1% spread for US equities
  • 3.99% credit card fee
  • $3.99 withdrawal fee to US/EU/UK banks
  • Free deposits from US/EU/UK banks
  • Free debit card purchases

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. 


  • Wide range of cryptocurrencies
  • Trade stocks and precious metals 
  • Swap crypto for stocks or metal in seconds
  • Recurring buy/sell orders
  • 50 simultaneous Limit orders allowed
  • Free debit card purchases
  • 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


  • High spreads
  • Uphold debit card not available to Canadians
  • Bank deposits/withdrawals not available for Canadians 
  • 3.99% credit card processing fee
  • Lack of search filters for equities
  • Only Bitcoin available 
  • Not the cheapest fees
  • No advanced order types

Account Limits


  • minimum of $100 payment
  • $50,000 transaction limit.

Methods to buy

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. 

Mobile and Desktop Trading

Uphold brings to the table both a mobile and desktop application for its trading services. The mobile app has received mixed feedback with a 4.6-star rating on the Apple App Store and a 4.5 on Google Play. Despite some reviews pointing out its occasional clunkiness, many users appreciate the versatility it offers in trading diverse assets. In contrast, Bitcoin Well's emphasis has been its robust desktop interface, designed intuitively to cater to both novice traders and seasoned experts. The platform's desktop-centric approach implies a commitment to comprehensive trade management.


Uphold’s app has a 3.5-star rating from 5,000 reviews on the Apple App store and a 3.2-star rating from 18,000 reviews on Google Play. Some reviewers have said the app is slow and buggy, with the verification process being particularly slow.

Uphold is easy to use for beginners. There is a quick trade option called “Anything to Anything”. All you need to do is enter the asset you want to trade, the amount, and the asset you wish to swap it for. You can trade crypto to stocks, stocks to metal etc. in just a few clicks. 

Uphold desktop trading app screenshot

Uphold desktop app

Uphold mobile app screenshot

Uphold mobile app while trading

Reviewing Uphold crypto exchange app and asset types for trading

Uphold main screen app

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

Security Compliance

To secure your Uphold account, you can enable two-factor authentication.

Uphold trading platform utilizes cold storage for your safety.

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. 

The digital realm of cryptocurrency necessitates staunch security protocols. Bitcoin Well, in this regard, doesn't disappoint, deploying multi-factor authentication, advanced cold storage solutions, and consistent surveillance to safeguard user data and assets. Uphold, while emphasizing its regulatory compliance, isn't as vocal about its technological security precautions. Though it offers two-factor authentication, details about cold storage or insurance are somewhat opaque, leading to potential reservations for the cautious trader.

Regulatory Compliance

Uphold is fully regulated in the USA. They are compliant with the Office of Foreign Assets Control (OFAC) and record keeping regulations with the Bank Secrecy Act (BSA). It's Canadian-friendly as well.

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

Regulatory adherence is paramount in fostering trust within the crypto community. Bitcoin Well resonates with this sentiment, proudly aligning itself with Canadian legal standards, thereby assuring users of its legitimacy and dedication to transparent operations. Uphold, on the other hand, showcases compliance chiefly with American entities such as the Office of Foreign Assets Control (OFAC) and the Bank Secrecy Act (BSA). The platform's stance in relation to Canadian regulations remains a tad ambiguous.

Customer support

Uphold has good reviews about their customer service teams. They offer help centres on their website and within the app. 

You can contact Uphold’s customer support via their online ticketing system on their website. 

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. 

Bitcoin Well accentuates its user-centric approach by offering stellar customer support, a crucial factor in user retention and satisfaction. The promptness and expertise demonstrated by their support team are commendable. Uphold's customer service infrastructure is comprehensive, encompassing an online ticketing system, FAQs, and other educational resources. General feedback for Uphold suggests efficient and helpful interactions, enhancing user experience.


Both Uphold and Bitcoin Well have carved a niche for themselves in the Canadian crypto arena, each with its unique offerings. However, if one were to choose a winner, Uphold, with its broader asset trading capabilities, diverse platform options, and comprehensive support system, edges out slightly. It promises not only a versatile trading environment but also a future-ready approach to digital asset management.

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

If you find that neither Uphold nor Bitcoin Well 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.