As such, users will be charged between 1.5% and 0% regardless of their chosen platform. With many exchanges, like KuCoin and ByBit, offering zero-fee crypto trading, Bitbuy is one of the more expensive options on the market. To make comparing even easier we came up with the Finder Score.
Deposits & Withdrawals
Over the last few years, cryptocurrency trading has become a common way to invest in digital assets. Canadians have been investing in various cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Cardano and many other coins. Reputable crypto platforms, such as Bitbuy makes it possible for Canadians to invest in crypto. Whether you’re a beginner or an advanced crypto trader, find out how Bitbuy can help you invest in digital coins and tokens online.
Bitbuy Review : Is This Canadian Crypto Exchange Worth It?
If you want an honest look at Bitbuy’s actual pros and cons, measured against other options in the Canadian market, these insights are from someone who’s tested it for themselves. To give you a fair perspective, I compared Bitbuy side by side with other regulated crypto and CFD platforms in Canada. This helped me highlight where Bitbuy stands out in terms of transparency, reliability, and platform quality, and where it still has room to improve.
Is Bitbuy regulated or certified in CA?
Unfortunately, there is no live chat or phone support team, but you can speak to an automated chatbot to get sent in the right direction. Although Bitbuy offers low trading fees for high-volume investors, these lowered costs will be inaccessible to most users. For the platform’s prices to be even remotely comparable to Binance, a customer must transact over CAD 1 million within 90 days. While the selection of cryptos on Bitbuy is limited, the available assets are some of the most liquid and popular digital currencies by market capitalization.
Personally, I find Bitbuy offers the nicest platform for beginners. But if you’re an advanced trader looking for robust tools and an extensive coin list, this may not be the platform for you. If you’re a new user signing up for the first time, you’ll need to provide personal and financial information about yourself and verify your account. This is normal and Bitbuy needs to collect this information in order to comply with Canadian financial regulations.
Pros Explained
And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). As with most crypto exchanges, you will pay two fees on Bitbuy. That means you’ll always pay a little more or get a little less than the live market price when you buy and sell, respectively. We do offer a referral bonus, as well as rewards for our staking feature! Our trading fee is 2%, which we hope to lower in the future as the market continues to improve.
What Crypto Coins Can You Trade On Bitbuy?
- Bitbuy in cold storage are insured by BitGo Trust Company.
- In summary, you should be just as comfortable security-wise dealing with Bitbuy online as you would with your primary bank.
- From the Pro Trade dashboard, click on List and choose a crypto-crypto or crypto-Canadian dollar pairing.
- Unfortunately, credit/debit card payments are unsupported, although crypto can be deposited to Bitbuy.
Please appreciate that there may be other options available to you than the products, providers or services covered by our service. bitbuy canada review As we have demonstrated above, the signup process is also simple and straightforward, making it easy to onboard new users. All of these points combined make Bitbuy a solid option for Canadian-based crypto investors looking for a reputable platform to fulfill their investment needs. Bitbuy is one of the leading cryptocurrency exchanges in Canada, founded in June 2016 by Adam Goldman.
- Trading pairs are on the left side, with a search bar making it simple to find a specific asset or quickly compare several pairs to locate the best opportunity.
- Although Bitbuy offers low trading fees for high-volume investors, these lowered costs will be inaccessible to most users.
- Bitbuy regularly conducts third-party financial audits, monthly security audits and transaction reporting audits.
- The most recent audit showed that Bitbuy surpassed their own 95% cold storage policy for an average of 98.12% in the major coins.
- Bitbuy is a legitimate cryptocurrency exchange that operates in compliance with relevant Canadian laws and regulations.
Does Bitbuy charge a monthly fee?
Whether Bitbuy is better than Coinbase can depend on individual preferences and needs. Bitbuy is known for serving the Canadian market, while Coinbase is a widely recognized platform with a global user base. Bitbuy prioritizes security by implementing powerful security measures to safeguard user assets. Bitbuy has a mobile app on both the Apple App Store and Google Play.
These fees are pretty standard across the market, so if you use any of these digital assets regularly, you can expect to pay a small fee when moving them off the exchange. With your Bitbuy wallet, you can store all your cryptocurrencies in one place. Plus, Bitbuy says that it keeps 98% of all user funds in cold storage, which means they’re offline and inaccessible to hackers and other nefarious people. When you sign up for Bitbuy, you choose if you’re a person or corporation. To get started, simply enter information about your business and request a call from Bitbuy’s corporate page.
Bitbuy maintains an exhaustive section offering support services, including guides, tutorial articles, FAQs, and informative articles on cryptocurrencies. Additionally, the platform shares trading tips on its YouTube channel and other regular tidbits to its followers on social media. Bitbuy’s Private Wealth feature facilitates high-volume trades for retail and institutional investors. The platform is used to broker direct trades between the buyers and sellers without listing them on its order book.
Bitcoin’s Potential Surge to $120,000 Amid Bank of Canada Rate Cuts and Global Tensions
However, if you’re on the hunt for advanced features, like drawing and analysis tools, Bitbuy’s Pro Trade platform could be ideal. We went through the verification process to ensure our Bitbuy review was as accurate as possible. Users must input details regarding their employment status, source of income, and address. After which, the customer must provide a Canadian photo ID (passport, driving license).
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