Question 1

How to Sell Bitcoin

Accepted Answer

Sell bitcoin from a self-custody wallet and receive Canadian dollars through the payout methods available in your Bitcoin Well account.

Create a sell order

Sign in to Bitcoin Well and select Sell bitcoin.
Enter the amount of CAD you want to receive.
Select a Payout method.
Select or add the recipient.
Review the recipient details, then select Review and pay.

The current Sell bitcoin amount and payout-method fields

Available Canadian payout methods and processing times

|| The live payout selector shows the methods, transaction ranges, and processing times available to your account. Review those details before creating the order.

||| Recipient email addresses, security answers, and bank details are private. Sell addresses are public identifiers but can reveal sensitive transaction metadata. Do not post an unredacted order publicly; share an address only through verified Bitcoin Well support when needed.

Send on-chain bitcoin

On the payment screen, select On-chain.
Open your Bitcoin wallet and select Send.
Scan the QR code or copy the complete Bitcoin Well sell address.
Send the exact BTC amount shown for the sell order.
Wait for the required blockchain confirmation.

| Bitcoin Well provides an option to

Question 2

How to Verify Your Bitcoin Well Account

Accepted Answer

Everything you need to know about identity verification, from why it's required to what to do if something goes wrong.

Why Do I Have To Verify My Identity

Bitcoin Well is registered as a money service business (MSB) with FINTRAC. This means we are required by law to collect certain documents to verify your identity before you can use our products and services. By completing verification you also unlock full access to all portal features, payment methods, and higher transaction limits. If you'd rather skip verification for now, that's completely fine. You can still use Bitcoin Well as a Lite account.

What Documents Can I Use

Acceptable documents include a government-issued driver's licence, or a state-issued ID. Make sure your documents are clearly photographed with all four corners visible, good lighting, and no glare or shadows covering any information.

How Do I Verify My Account

Sign up at bitcoinwell.com and select your country of residence.
Confirm your email.
Enter your bitcoin address.
Confirm your phone number.
Enter your occupation.
Begin the ID verification process. Verification is automated and typically takes only a couple of minutes.

Note: If you are using a VPN, please disable it before completing verification as it can cause errors.

How Long Does Verification Take

If additional documentation is requested by our partner Bitgo, the process may take up to 3 business days. During this time, keep an eye on your inb

Question 3

How to Set Up and Use Wallet of Satoshi

Accepted Answer

Wallet of Satoshi is a Lightning-first mobile wallet designed for fast Bitcoin payments. It offers self-custodial access globally, while custodial access is available only in supported regions.

|| Information: In self-custody mode, you control the keys and recovery materials. In custodial mode, Wallet of Satoshi holds the keys for you. This guide focuses on self-custody.

![Wallet of Satoshi home screen with Receive and Send controls](https://storage.crisp.chat/users/helpdesk/website/-/4/2/3/b/423bb8bf04277800/wos-1-mockup_sazj1x.png =538xauto)

Set up Wallet of Satoshi

Download Wallet of Satoshi from the official Apple App Store or Google Play link on the Wallet of Satoshi website.
Open the app and follow the onboarding prompts.
If your region offers both modes, choose self-custody or switch to it through the app settings before moving funds.
Complete the wallet backup when prompted.

Wallet of Satoshi balance, payment history, Receive, and Send buttons

Back up your self-custody wallet

Wallet of Satoshi may offer an encrypted Google Drive backup or a manual 12-word recovery phrase.

For a manual backup:

Write all 12 words down in the correct order.
Check that every word is spelled correctly.
Store the backup offline in a secure location.
Consider keeping a second physical copy in a separate secure lo

Question 4

How to Buy Bitcoin With Cash Vouchers

Accepted Answer

Cash Vouchers let eligible Canadian customers fund a bitcoin purchase with cash through the Bitcoin Well Portal and a supported Cash Voucher ATM.

|| A verified account or a Lite account may be able to use Cash Vouchers. The options and limits shown in your Bitcoin Well account are the ones that apply to you.

Prepare the Cash Voucher in Bitcoin Well

Sign in to Bitcoin Well and select Buy bitcoin.
Open Select payment method and choose Cash Voucher when it is available for your account.
When the network options appear, choose where you want to receive bitcoin: On-chain or Lightning.
Select or add the destination wallet.
Open the Cash Voucher QR code and save it so you can present it at a supported Cash Voucher ATM.

||| Your Cash Voucher QR code is connected to your account. Do not post it publicly or send it to someone you do not trust.

Add cash at a supported ATM

|| Ask the Bitcoin Well chat bot to help you find a supported Cash Voucher ATM nearby.

| Prefer to search yourself? Visit bitcoinwell.ca and use the ATM locator.

Find a Bitcoin Well ATM that supports Cash Vouchers.
On the ATM, select I Want Crypto.
Select Bitcoin Well Portal.
Scan the Cash Voucher QR code from your Bitcoin Well account.
Insert the cash you want to add.

Redeem the voucher for bitcoin

Return to Buy bitcoin in your Bitcoin Well account.
Wait for the Cash Voucher balance to appear.
Select the

Question 5

How to Buy Bitcoin With Interac e-Transfer

Accepted Answer

Use Interac e-Transfer to pay from your Canadian bank account. Bitcoin Well converts your dollars into bitcoin and sends it directly to a wallet you control.

| Before you start: Add or select an on-chain self-custody wallet in your Bitcoin Well account. The current minimum purchase is $10, and your available limits appear in the app.

Buy bitcoin with Interac e-Transfer

Sign in to Bitcoin Well and select Buy bitcoin from the sidebar.

Select Buy bitcoin

Enter the Canadian-dollar amount you want to spend.

Enter the purchase amount

Select the payment-method field, then choose Interac e-Transfer.

Choose Interac e-Transfer

Keep On-chain selected under Network.

Keep On-chain selected

Under Destination, select the self-custody wallet that should receive your bitcoin.

Select your destination wallet

Open your bank or credit union's online banking and start an Interac e

Question 6

How to Swap Bitcoin Between the Blockchain and the Lightning Network

Accepted Answer

This Canada-only feature lets you swap bitcoin between the Bitcoin blockchain and the Lightning Network without sending it to an exchange first.

|| Bitcoin Well charges a 0.5% fee for swaps between the Bitcoin blockchain and the Lightning Network. Review the live quote in your account before sending because fees and limits can change.

Before you begin

You need a destination wallet on the network where you want to receive bitcoin:

Choose a Lightning address, LNURL, or compatible Lightning destination to receive over Lightning.
Choose a Bitcoin address to receive on-chain.

||| The destination determines the direction of the swap. Confirm the complete destination and network before sending. A Bitcoin address cannot receive a Lightning payment, and a Lightning invoice cannot receive an on-chain transaction.

Start a swap

Sign in to Bitcoin Well and select Swap.
Under Destination, select Select wallet.
Choose a saved wallet or select Add wallet.
If you add a wallet, enter a label and the Bitcoin address, Lightning address, or LNURL.

The current Swap page with the destination wallet selector

The Add wallet form for a swap destination

Swap on-chain bitcoin to Lightning

Choose a Lightning destination.
Bitcoin Well display

Frequently Read Articles

Browse All Categories