Bitbuy: Everything You Need to Know About Canada’s Top Crypto Platform

For example, in this thread you can see that most of the users who commented had no issues withdrawing coins from their accounts. This was also during the peak bull run in Jan so it shows their consistency. If you can meet those requirements you could get a nice stream of income since the commissions are paid on all fees for the life of the user’s account.

You can share your wallet address by clicking on ‘Copy to Clipboard’ and pasting it in an email or message. As such, Bitbuy has not expanded into a number of other altcoins that are being offered by Canadian exchanges. As an enhanced security measure, you will be asked to confirm your email address, phone number, and verify your identity as required by Canadian law. The company implements two-factor authentication across the entire Bitbuy network, for both users and employees, which helps to ensure that no unauthorized action can be taken. The safety surrounding Cryptocurrency exchange cannot be endorsed, the funds of traders are potentially at risk on future hacks. The company was created as a subsidiary of First Ledger Corporation.

Bitbuy requires all of their users to enable two factor authentication by default. is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which receives compensation. We may receive compensation from our partners for placement of their products or services.

is bitbuy good

Bitbuy offers Canadians the ability to deposit Canadian dollars into their fiat wallets via Interac e-Transfer or bank wire. Bitbuy is a leading cryptocurrency exchange in Canada best suited for Canadian residents and citizens (and only!). FeatureBitbuyCoinbaseOrder Book TransparencyMarket orders are transparent so that traders can make better trading decisions. Bitbuy only accepts deposits in CAD and the supported cryptocurrencies. Bitbuy enables withdrawals and deposits in all supported digital currencies. The Bitbuy exchange offers a concierge OTC service for those looking to conduct high-volume trades without slippage.

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Rest assured that if we made a habit of carelessly blocking and off-boarding our customers then we wouldn’t be where we are today as a company. With that said, everything happens for a reason, but again, we’re sorry that we had to sever our relationship. The only wallet/company that reply’s to any funding or user error issue promptly and efficiently. I deal with a lot of service providers and often need support, i know the difference.

BitBuy Review 2022: Is This Canadian Crypto Platform Worth It?

BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Read fact-based BitDegree crypto reviews, tutorials & comparisons – make an informed decision by choosing only the most secure & trustful crypto companies.

It only needs you to plan the deposits in such a way so that you do not lose much on the fees. So, users can deposit Canadian dollars through a wire transfer or Interac. OTC or Over-the-counter is another product developed for vast trades of over $50,000 in CAD, ETH, or BTC equivalent. It offers you to operate directly with experienced traders in Bitbuy. Moreover, you also get live price quotes to avoid slippage.

The best customer service support i have received from anyone anywhere. At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians. NDAX is also a good option which offers crypto staking for five cryptocurrencies.

Great customer service

This is what we’ve been advised by our chief compliance and AML officer, so it’s a policy we have had in place since 2016. It doesn’t have anything to do with Trulioo, which is our 3rd party automated verification partner. We realize this excludes some people who live in Canada, and we hope to be able to expand our offering in the near future.

To get started, you can sign up here, provide your email address and password, and confirm your email address by clicking on the link sent to your email. Our Bitbuy review was relatively straight forward and it seems as if this exchange “does what it says on the tin”. It is a simple and effective way for you to convert your CAD into crypto. If you have been using Bitbuy and you found the experience great then you can easily refer your friends and acquaintances and earn a referral commission. This could also be a great solution for those users who command a strong following online. The Pro Trade platform also has your standard market depth charts.

is bitbuy good

While we can’t discuss the specifics of your account outside of support, I can see that you are currently working with our team to come to a resolution. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. CoinSmart’s fees are just 0.2% and they offer the ability to trade any crypto to crypto without having to sell to Bitcoin or Ethereum first. Whether Bitcoin is a good investment will depend on its uptake as a store of value and/or its uses as a means of exchange over time. While many new millionaires have been minted from Bitcoin, many have also lost money.

Deposits & Withdrawals

Bitbuy continues to add new coins, services and resources that meet the growing needs of users and they will continue to do so in 2022. I look forward to continue investing and actively trading on the Bitbuy exchange and would recommend the platform to other Canadians over the other existing Canadian Crypto exchanges. Bitbuy’s Express platform is perfect for beginners or anyone looking for a quick purchase at market price. Both its mobile app and its desktop platform make it easy to deposit and purchase cryptocurrency. You can also use a card via a third-party provider but there is a standard fee set at 6.25%.

  • The exchange also charges varying trading fees depending on which trading tool a user is utilizing.
  • He decided to review different crypto exchanges that operate in Canada in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice.
  • A few exchanges offer more in the way of alternative coins, but Bitbuy’s offering is more than enough to satisfy most mainstream traders.

Bitbuy is a compliance-driven exchange that is the first Canadian registered marketplace for digital assets that is federally approved as a Restricted Dealer. The exchange is also registered as a money services business with FINTRAC. Bitbuy charges withdrawal and deposit fees on fiat and withdrawal fees on cryptocurrencies. The exchange also charges varying trading fees depending on which trading tool a user is utilizing. Bitbuy was acquired by WonderFi in March 2022 but continues to offer its crypto-trading platform.

Bitbuy deposit and withdrawal fees

Bitbuy is one of the most popular cryptocurrency trading platforms here in Canada. Bitbuy is one of the most popular cryptocurrency trading bitbuy review platforms here in Canada, and for good reason. These wallets are not free, but it is important to protect your cryptocurrencies.

Initially, it was called InstaBT and was designed to be an easy-to-use gateway for Canadians to buy and sell bitcoin. In 2016, the company underwent a rebranding and adopted the name Bitbuy. Hardware wallets like Ledger and Trezor are two popular choices, and you can read our Ledger review and Trezor review for more information.

The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews . First of all, the support center offers clear answers to all common questions. Of course, digital coins can also be deposited or withdrawn directly, again without an additional fee from the platform.

After all, it doesn’t matter if an exchange has an excellent user experience and high trading limits if fees eat into your potential profits. Another Bitbuy feature that’s useful for serious cryptocurrency traders is its API tool. API tools are useful because they provide live exchange rates and let you automate trades or trade at high frequencies. Bitbuy is a Toronto-based cryptocurrency exchange that began in 2016.

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