# Bitcoin Well review: KYC policy, privacy and safety grades

> Bitcoin Well is an exchange operating since 2013. Its terms put it at KYC level 4 of 4: ID mandatory. NoKYC Score grades it 0.0/10 for privacy (poor) and 5.8/10 for safety (fair). In its favour: accepts Lightning, accepts cash and company named. To watch: it may ask for ID, screens deposits and requires an email address. No incidents are on record.

Source: NoKYC Score, "Bitcoin Well review", reviewed 22 Oct 2026, https://nokycscore.com/service/bitcoin-well

## Key facts
- **Category:** No-KYC Exchanges
- **KYC level:** 4 of 4: ID mandatory
- **Grades:** Privacy 0.0/10, Safety 5.8/10
- **Sign-up:** Phone number required
- **Custody:** non-custodial
- **Limits:** No online tier without identity verification stated; ATM verification depends on transaction size and risk, with no threshold published in the terms
- **Jurisdiction:** Canada
- **Incidents on record:** 0
- **Last reviewed:** 22 Oct 2026
- **Official website:** https://bitcoinwell.com

## What it is
Bitcoin Well is a publicly traded bitcoin-only company from Alberta serving Canada and the United States, operating since 2013 and registered with FINTRAC as a money services business. Its Canadian terms say it does not provide custodial services and delivers bitcoin only to a wallet the customer controls. The same terms state that the company is required to verify the identity of individuals and businesses using its services, which may include government-issued identification, a selfie or liveness check and proof of address, and that it monitors customer activity. For its cash ATMs the terms say identity verification may be required depending on transaction size, patterns or risk indicators; no threshold is given.

## What the terms say about ID
Terms 4.2: the company 'is required under the PCMLTFA to verify the identity of individuals and businesses that use its services'; ATMs 'may require identity verification depending on transaction size, patterns, or risk indicators'.

## Features and warnings
- **Identity:** ID never required: no; No account needed: no; No email needed: no; No phone number: no
- **Payment:** Accepts Monero: not stated; Accepts Lightning: yes; Accepts cash: yes
- **Access:** Tor onion address: not stated; Works without JavaScript: not stated
- **Trust:** Never holds your funds: not stated; Own liquidity: not stated; Refund without ID: not stated; Independent audit: not stated; Company named: yes; 5+ years operating: yes
- **Warnings:** May ask for ID: yes; Screens deposits: yes; Passes orders to partners: not in terms; Holds your funds: not in terms; Email required: yes; Phone number required: yes; Nobody accountable: not in terms

## Questions
### Does Bitcoin Well require KYC?
Bitcoin Well is rated KYC level 4 of 4 on this site: ID mandatory. Terms 4.2: the company 'is required under the PCMLTFA to verify the identity of individuals and businesses that use its services'; ATMs 'may require identity verification depending on transaction size, patterns, or risk indicators'.

### Is Bitcoin Well safe to use?
Bitcoin Well has a Safety grade of 5.8 out of 10 and a Privacy grade of 0.0 out of 10. No incidents are on record. Evidence level: documentation reviewed.

### Is Bitcoin Well legit?
Bitcoin Well is a working exchange that has operated since 2013. It publishes the company that runs it, in Canada. Being real is not the same as being safe: its Safety grade here is 5.8 out of 10, built from custody, liquidity, track record and incidents.

### Is Bitcoin Well a scam?
NoKYC Score does not label services as scams; it records documented incidents with their sources and outcomes. No incidents are on record for Bitcoin Well. Its terms also allow it to hold a flagged deposit and ask for identity documents.

### Do I need an account or email to use Bitcoin Well?
Phone number required. A phone number is required.

### What are Bitcoin Well's limits?
No online tier without identity verification stated; ATM verification depends on transaction size and risk, with no threshold published in the terms.

### Does Bitcoin Well have a Tor onion address?
No official onion address was found on Bitcoin Well's own pages.

### Which cryptocurrencies does Bitcoin Well support?
Bitcoin Well supports BTC, and fiat payments in CAD, USD.

### Is Bitcoin Well custodial?
No. Bitcoin Well is non-custodial: the operator does not control user funds.

### Can I use Bitcoin Well over Tor?
Bitcoin Well does not publish an official onion address.

## Sources
- https://bitcoinwell.com
- https://bitcoinwell.com/ca/terms-of-service

How grades are calculated: https://nokycscore.com/methodology