Bitcoin Well Referral Program Terms and Conditions
Effective Date: May 22, 2026
These Referral Program Terms and Conditions ("Referral Terms") govern your participation in the Bitcoin Well Referral Program ("Program"). By participating in the Program, you (the "Referrer") agree to these Referral Terms in addition to the Bitcoin Well Terms of Service and Privacy Policy.
1. Contracting entities & program scope
This Program is designed to reward Referrers for introducing new users to the Bitcoin Well Portal and Bitcoin Well Infinite platforms. The specific corporate entity you contract with is determined strictly by your legal country of residence:
- Canadian Residents: Your agreement is with Bitcoin Well Canada Ltd.
- United States Residents: Your agreement is with Independent Well USA Corp.
For the remainder of these Referral Terms, the specific contracting entity applicable to your residency will be collectively referred to as "Bitcoin Well," "the Company," "we," "us," or "our." This regional framework ensures that your participation complies with local financial, structural, and tax regulations.
2. Program tracking requirements and logic
To be eligible to accumulate rewards under this Program, a referral must be tracked dynamically and correctly at the exact time of account creation.
2.1 Authorized tracking channels
- Bitcoin Well Portal: The referred user must execute account creation directly using the Referrer's unique referral link or by manually inputting the Referrer's active alpha-numeric identifier ("Welltag") during the user registration sequence.
- Bitcoin Well Infinite: The referral must be initiated via the Referrer's unique pre-qualification submission link or through a direct email introduction sent to infinite@bitcoinwell.com. The introductory email must explicitly include the Referrer's Welltag and must copy (CC) the referred party.
2.2 Strict non-retroactive attribution protocol
Referral attribution must occur exclusively at the time of initial account registration. The Company explicitly disclaims any obligation to manually adjust data, link accounts, or retroactively credit rewards where tracking metrics were omitted, skipped, or incorrectly inputted during the onboarding sequence. Accounts created without an active tracking mechanism attached at the moment of inception are permanently ineligible for retroactive attribution.
3. Definition of a "Qualified Referral"
A referral is only recognized, logged, and eligible to generate rewards once it transitions into a "Qualified Referral." A Qualified Referral is defined as a unique individual or distinct legal entity that is not an existing or former user of any Bitcoin Well service, and fulfills one of the following criteria:
3.1 Standard accounts
For full-service users onboarding in Canada or the United States, an account becomes a Qualified Referral immediately upon the successful completion of Bitcoin Well's identity verification (KYC) onboarding process to the complete satisfaction of our compliance and risk teams.
3.2 Canadian Lite accounts
- Definition: A "Canadian Lite Account" is defined strictly as a Bitcoin Well account that has completed electronic email verification only, without undergoing full government-issued identity verification or liveness checks.
- Condition precedent to qualification: A Canadian Lite Account does not constitute a Qualified Referral at the time of account creation. It will transition to a Qualified Referral — and begin generating reward records — only after the referred account completes at least one (1) successful, fully settled transaction (buy, sell, or cash voucher redemption) on the platform. No referral rewards will accumulate, settle, or be logged prior to the absolute completion of this first successful transaction.
4. Reward tiers
Your earning percentage (the "Reward Rate") is determined dynamically by the total cumulative number of Qualified Referrals you have accumulated across both the Portal and Infinite programs.
| Tier | Cumulative Qualified Referrals | Reward Rate (% of Eligible Gross Revenue) |
|---|---|---|
| Tier 1 | Default / 0–9 | 10% |
| Tier 2 | 10–24 | 15% |
| Tier 3 | 25+ | 21% |
"Eligible Gross Revenue" is defined explicitly as the gross transaction spread (Canada) or the gross referral fee (United States) actually earned and retained by Bitcoin Well on a specific transaction.
Tiers are calculated based on total cumulative Qualified Referrals, regardless of whether those referred accounts remain actively trading. Once a tier milestone is achieved, the higher Reward Rate applies to all future qualifying transactions across your network.
5. Payout structure, windows, and limits
All referral rewards are denominated and settled exclusively in Bitcoin (BTC).
5.1 Portal payouts (automated)
Rewards generated from transactions on the automated Bitcoin Well Portal are sent instantly via the Lightning Network to the bitcoin wallet address linked directly to the Referrer's account. There is no minimum payout threshold for these automated transactions.
5.2 Infinite payouts (weekly batch)
Rewards generated from Bitcoin Well Infinite transactions are calculated via our internal administrative ledger systems, logged to the Referrer's portal account as a pending soft record, and paid out weekly via on-chain Bitcoin transactions or via the Lightning Network. Due to the nature of Infinite transaction sizes, no minimum payout threshold is required.
5.3 Earning duration and caps
- Bitcoin Well Portal: Referrers earn the designated Reward Rate on all transactions made by a Qualified Referral indefinitely, provided both accounts remain active (as defined in Section 6) and in good standing.
- Bitcoin Well Infinite:
- Year One window: Referrers earn the Reward Rate on every transaction placed by the referral during their first twelve (12) months from the date of their first trade, with no earning volume cap.
- Lifetime cap: Starting on month thirteen (13), rewards continue to accumulate until the Referrer has earned a maximum lifetime total of $5,000 (CAD or USD, relative to the referral's platform) for that specific referral. All earnings generated during Year One count directly toward this $5,000 lifetime cap.
6. Account maintenance & dormancy
To protect the company's long-term operating margins, ongoing passive rewards from legacy Portal connections require the Referrer to remain an active participant within our ecosystem.
The 12-month dormancy clause
If a Referrer's account reflects zero (0) login activity or zero (0) personal transaction volume for a period of twelve (12) consecutive months, Bitcoin Well reserves the absolute right to classify the account as "Dormant." Upon entering Dormant status, the Referrer immediately, automatically, and permanently forfeits the right to receive ongoing referral rewards from all past, present, and future legacy Portal connections.
7. Compliance, identity, and tax verification gates
Bitcoin Well handles all payouts in accordance with prevailing corporate tax reporting laws. Payout functionality is subject to automated structural freezes based on cumulative calendar-year earnings.
7.1 Canada tax & KYC gate ($500 CAD)
Per Canada Revenue Agency (CRA) guidelines for non-employee "Fees for Services," the exact moment a Canadian Referrer's cumulative annual rewards exceed $500 CAD, an automated administrative lock will pin their payouts.
To unlock pending funds and remain eligible for future referral rewards, the Referrer must provide their Social Insurance Number (SIN) and complete Full Identity Verification (KYC) — including government-issued photo ID and liveness verification — so Bitcoin Well can legally generate an end-of-year T4A slip (Box 048).
7.2 United States tax gate ($2,000 USD)
In alignment with United States Internal Revenue Service (IRS) regulations governing non-employee compensation, the exact moment a US-based Referrer's cumulative annual rewards exceed $2,000 USD, an automated administrative lock will pin their payouts. Payouts will remain locked until the user submits a valid Form W-9, enabling the legal issuance of an end-of-year Form 1099-NEC or Form 1099-MISC.
7.3 Tax disclaimer
Referrers maintain 100% independent liability for calculating, reporting, and remitting any income, capital gains, or other relevant tax burdens resulting from the receipt of Bitcoin rewards. Bitcoin Well does not withhold taxes from your distributed Bitcoin.
8. Prohibited abuse & program manipulation
Bitcoin Well maintains a strict zero-tolerance policy regarding fraud. Engaging in any of the following activities will result in an immediate, permanent program ban, account closure, and the absolute forfeiture of all pending or accrued rewards:
- Self-referral: Creating secondary accounts, corporate profiles, or alternate identities to refer yourself or collect rewards on your own trades.
- Fake referrals: Using bots, temporary email routing scripts, or falsified KYC details to artificially inflate referral tiers or accounts.
- Spamming: Sending unsolicited referral links, mass forum blast posting, or utilizing automated scripts to distribute links.
- Brand misrepresentation: Using "official," "certified," or "partner" branding labels in a manner that implies an employment or exclusive partnership relationship with Bitcoin Well.
9. General legal terms
- No financial advice: Program documentation, calculators, and communications do not constitute investment, legal, accounting, or financial advice.
- Finality of calculations: All reward auditing, tier positioning, and fiat-to-crypto conversion rate mappings performed by the Bitcoin Well backend are final, binding, and non-negotiable.
- Right to modify: Bitcoin Well reserves the absolute right, at its sole discretion, to modify, amend, pause, or terminate these Referral Terms, reward structures, or the Program as a whole at any time, for any reason, without prior liability or notice.
- No fiduciary relationship: Participation in the Program does not create an employment, partnership, joint venture, or agency relationship between the Referrer and Bitcoin Well.
10. Notices, website domains, & contact information
All official notices, inquiries, or document submissions regarding this Program must be directed to the corporate platforms and contact channels specified below.
10.1 Authorized digital platforms
The Program is strictly hosted and administered across the following official domains:
- Main informational site: https://bitcoinwell.com
- The automated app (The Portal): https://app.bitcoinwell.com
10.2 Contact channels & corporate addresses
For account issues, tier inquiries, or tax documentation updates, contact the appropriate regional desk:
- General Portal enquiries: hello@bitcoinwell.com
- Bitcoin Well Infinite enquiries: infinite@bitcoinwell.com
Mailing address (Canada):
Bitcoin Well Canada Ltd.
203 - 10138 82 Avenue NW
Edmonton, AB, T6E 1Z4
Canada