Bitbuy Review: Is Bitbuy the Best Overall Cryptocurrency Exchange?

fund your account
live order book

Self-serve assistance is available via the support page of the Bitbuy website. You can browse through more than 50 FAQs to get an answer to the most common questions. Of course, digital coins can also be deposited or withdrawn directly, again without an additional fee from the platform. In this case, only the corresponding network fees are incurred, which have nothing to do with the trading platform itself. Bitbuy has complete transparency with its fees which include no hidden fees and low trading fees. Their trading fees have a rate of 0.10% on all markets while other Bitbuy products have 0.10% maker fees and 0.20% taker fees on all markets.

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Once activated, fund your account via Interac e-Transfer, bank wire, or by transferring cryptocurrency. Despite operating as a centralized cryptocurrency exchange, Bitbuy leverages advanced technology to secure user funds. The platform provides a highly transparent fee schedule and doesn’t include fees in digital currency market prices — fees are always separate. The professional, regulated trading exchange is especially suitable for absolute beginners who have never bought cryptocurrencies before.

Bitbuy vs. Coinsmart

There are a few features that make Bitbuy stand out, such as the insurance, Bitbuy express, Pro, and customer support level. Get low and transparent fees with live order books for advanced users. Consumers should always beware of third-party app stores or download sites that claim to offer official versions of mainstream cryptocurrency trading apps.

If you bitbuy review currency to hold yourself, Bitbuy recommends that you also make use of cold storage. Excellent customer service, transparent pricing, low fees, fast processing, and a highly secure two-tier trading platform – Bitbuy has it all. In our books, it’s what makes them the best overall cryptocurrency exchange in Canada. For example, if you’re more interested in trading alternative currencies, you might want to check out Coinsquare. As always, I recommend that you take the time to do the proper research to make the most informed decision. Bitbuy supports deposits and withdrawals via e-transfer or wire transfer while many other cryptocurrency exchanges only support wire transfers.

CAD Withdrawal Fees

Arthur invests in the stock market but doesn’t pay any fees because he uses National Bank Direct Brokerage online broker and Wealthsimple’s robo-advisor. He pays for his subscriptions online with his KOHO prepaid card, and uses his Tangerine credit card for most of his in-store purchases. When he buys bitcoins, it’s with the BitBuy online platform.

When you sign up, you will be asked to provide a telephone number for two-factor authentication, so the Bitbuy sign-in process can be as safe as possible. If you are withdrawing via Bank Wire, a Bitbuy representative will contact you for your banking details after your withdrawal request has been made. Bitbuy has a dedicated crypto wallet where you can store your digital currencies. Supports deposits in USD, in addition to Canadian dollars. Tstanding crypto service, you might want to explore other platforms and see which one best suits your needs.

You can view your orders, select a limit or market order when purchasing, and view all market orders from other users. To make a deposit, go to your account dashboard and hit the “deposit” button. Bitbuy does, however, offer corporate accounts for businesses with dedicated account managers.

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Use a debit card to fund your account, for which you would need to pay a fee of up to 6%. From $1 to $20 per crypto withdrawal and vary depending on the amount you withdraw and the currency you choose. Bitbuy has a verification procedure to ensure the safety and protection of the platform and its clients. Enter your phone number and confirm it by entering the SMS code sent to your phone. If you meet the requirements, you can start using the services of the platform. Which offers some extra features, such as allowing you to set up recurring purchases and getting paid in BTC with Coinberry Pay.

This may influence which we compare and the pages they are listed on. Partners have no influence over our editorial staff. Bitbuy in cold storage are insured by BitGo Trust Company. As the name suggests, Bitbuy Express is a feature that enables you to purchase cryptocurrencies easily and without friction. Express will set you back a 0.2% fee for every CAD to crypto trade, and each sale will have a 0.2% fee per trade.

BitBuy: Canada’s Best Crypto Exchange?

If you’re looking for one that accepts CAD transfers from your Canadian bank account, Interac or FIAT withdrawals, you don’t have a lot to work with. Bitbuy is suitable for both beginners and experienced traders. The Express platform offers a simple, easy-to-use interface where you can buy crypto in minutes. If all you’re looking for is a quick purchase at market price, then Bibuy Express is the way to go.


Of course it goes without saying that he uses the Hardbacon app so that he can manage all of his finances from one convenient place. Bitbuy charges lower trading fees compared to rival platforms. There is a 0.10% maker fee and 0.20% taker fee on the Pro Trade platform. Coinbase, on the other hand, charges maker fees between 0.04% to 0.50% and taker fees between 0.00% to 0.50% based on a pricing tier structure. When you go to the Express Trade page, choose a cryptocurrency from the dropdown menu. There is a minimum and maximum limit for CAD deposits so that traders can buy and sell at the best price.

Is Bitbuy legal in Canada?

It’s a convenient option, but hardly cost-efficient. Founded in Toronto in 2016, Bitbuy offers a truly Canadian experience to crypto traders. You have to be a citizen or resident of Canada to become a member. When you own crypto, your private key is your proof of ownership of your currency. The key holds the unique digital codes you need to access your assets.

This website does not replace a personal financial advisor, which should always be consulted for investment or trading matters. Through OTC orders, investors get the current trading price and avoid the slippage that would otherwise occur. – This is the price jump that larger orders otherwise generate when they are traded through the order book. Bank transfers have a minimum deposit of $20,000 and a maximum of $500,000. The Express Trade is designed for the ones who are just starting off with investing and selling Bitcoin. Some of the products and services listed on our website are from partners who compensate us.

  • We advise you to reach out to our support team and your local authorities as soon as possible.
  • Bitbuy has a dedicated crypto wallet where you can store your digital currencies.
  • Still, not every platform is perfect for every user.

While we can’t discuss the specifics of your account here, we would be happy to look into this for you again. The refused to send money to my own bitcoin wallet. I sent them screenshot of my wallet to prove that it belongs to me but it is not enough. THEY WANT TO SEE MY COLD WALLET WITH MONEY IN IT!!!

Get started as a Bitbuy affiliate and earn up to $200 per referred user! – Bitbuy

Get started as a Bitbuy affiliate and earn up to $200 per referred user!.

Posted: Fri, 22 Jul 2022 00:42:25 GMT [source]

It was developed with the intention of allowing buyers easy access to a variety of cryptocurrencies. Bitbuy is a Canadian operated cryptocurrency exchange founded in Toronto. Be the first to hear about the best offers, promo codes and latest news.

Nevertheless, if you’re only looking to use a secure and trusted Canadian exchange the you can’t go wrong with Bitbuy. Visit their official website for more information and claim free $20. Unfortunately, Bitbuy does not offer staking, crypto cards, or any additional features you might see elsewhere. Bitbuy’s focus, for now, is offering their users the best trading experience. These questions ask you about your net worth, income, and projected income for the next year. The purpose of this financial profile is to assess your “suitability” for investing in crypto.

With a variety of pairings and a solid local presence, Bitbuy can be your go-to crypto exchange. Bitbuy openly displays a fee summary for all transactions with no hidden costs. Many cryptocurrency platforms claim to have low or zero fees, but charge hidden fees on transactions. Bitbuy seems to be more transparent with the fee structure. The Pro Trade platform offers tools for technical analysis, meant for traders who buy and sell regularly. It displays interactive charts with candlesticks and volumes.

He helped me out by giving me the right reports I needed plus the additional information regarding the use of the API with all the security precautions to take. Hi Ryan, I’m truly sorry to hear about your situation. Please be advised that Bitbuy does not work with the third party you have mentioned. Bitbuy is a registered Money Service Business with FINTRAC, and we take these matters very seriously.

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