Bitcoin Well vs CoinEx
It is a trade-off. Bitcoin Well has the higher Safety grade (5.8 against 4.5), while CoinEx has the higher Privacy grade (1.3 against 0.0).
Bitcoin Well
Canadian bitcoin-only platform and ATM network delivering to self-custody wallets
Privacy
0.0/ 10
Poor
Safety
5.8/ 10
Fair
ID mandatory KYC 4 Docs reviewed Full review →
CoinEx
Long-running centralised exchange with a $10,000 daily withdrawal limit before ID
Privacy
1.3/ 10
Poor
Safety
4.5/ 10
Caution
ID on risk flag KYC 3 Docs reviewed Full review →
Side by side
| Bitcoin Well | CoinEx | |
|---|---|---|
| Category | No-KYC Exchanges | No-KYC Exchanges |
| KYC policy | ID mandatory | ID on risk flag |
| Custody | Non Custodial | Custodial |
| Sign-up | Phone number required | Email required |
| Open source | No | No |
| Tor onion address | No | No |
| Coins | BTC | BTC, ETH, USDT, LTC, BCH |
| Pay with | Bank transfer, Cash, Lightning | Crypto |
| Fees | Not published | Spot VIP 0: 0.2% / 0.16% (fees page; lower tiers with VIP level) |
| Limits | No online tier without identity verification stated; ATM verification depends on transaction size and risk, with no threshold published in the terms | Unverified: USD 10,000 per 24h and USD 50,000 per 30 days. Primary ID: USD 1,000,000 per 24h. Advanced ID: USD 5,000,000 per 24h. Privacy-coin deposits/withdrawals, fiat, P2P, mining and airdrops require ID. |
| Founded | 2013 | 2017 |
| Jurisdiction | Canada | Not published |
| Not available in | Canadian service requires residence and physical presence in Canada; a separate US service exists | United States, China, Hong Kong, Canada, European Economic Area, United Kingdom, Switzerland, Kazakhstan, Iran, North Korea, Cuba, and other comprehensively sanctioned jurisdictions (List of Prohibited Jurisdictions) |
| Incidents on record | 0 | 0 |
| Published tests (180 days) | 0 | 0 |
Only Bitcoin Well
Requires phone numberLegal entity disclosedAccepts cash
Both
Requires emailMay request IDAML screening5+ years operatingRuns an affiliate programme
Only CoinEx
CustodialClosed sourceExcludes US users
Where they sit among no-kyc exchanges
Questions
Is Bitcoin Well or CoinEx safer?
Bitcoin Well has the higher Safety grade: Bitcoin Well 5.8, CoinEx 4.5, out of 10.
Does Bitcoin Well or CoinEx require KYC?
Bitcoin Well is KYC level 4 (ID mandatory). CoinEx is KYC level 3 (ID on risk flag).
Which has more incidents on record?
Bitcoin Well has 0 and CoinEx has 0 documented incidents in the registry.