I have been a customer of Bitbuy for just over a year now as a new Crypto investor, and through the ups and downs that come with any company and new growth, I have remained a loyale client. 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.

There are no superfluous choices, and users are able to navigate among the selections without any difficulty. Below that provide your phone number and create a unique username and password. Only a North American number starting with the country code +1 can be used to sign up for the service. A verification code will be sent to this number so ensure that it is accessible to you when creating the account. The former is ideal for transacting relatively small amounts , while the latter is appropriate for higher amounts.

They include Bitcoin , Ethereum , Ripple , Litecoin , Stellar Lumens , and Bitcoin Cash . 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.

I had lost hope as my search for answers online assured me my money was lost forever. They’re also not replying to me so I have no access to my funds. My initial issue was the reports generated by Bitbuy was all on 1 line. Thought I would resort to use my API key instead, hence the support needed.

Security and Safety

Designed chiefly for beginner traders and crypto enthusiasts that just need to get a quick transaction over with, it’s the fastest way to buy and sell crypto at Bitbuy. Depending on your trading experience and whether you’re looking for a quick trade or deeper research, you can choose either the Express or Pro trade route. Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Forex is a high-risk trading instrument which is not suited for all traders and investors. The 24h volume statistics on Bitbuy signifies how much cryptocurrencies have been traded over the last 24 hours.

Simply making use of one mouse click is required to activate this process. As a result, Bitbuy’s target market is significantly expanded as a result of these developments. 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. If, however, you’re looking for more advanced order types and charting and don’t mind a more advanced interface, then Bitbuy’s Pro platform might be for you.

Monitoring financial transactions and reports to calculate cryptocurrency profits and losses for capital gains tax can be a complex and lengthy process. However, Bitbuy makes it easy by allowing its customers to generate and download comprehensive reports for the financial year. Bitbuy has included a beginner-centric feature called Express Trade that enables users to buy and sell crypto without hassle. https://forex-review.net/ While the Express Trade platform doesn’t have any analytical tools, its simplicity makes it excellent for new investors making their first foray into the crypto space. Although the Pro Trade platform grants users access to a few extra tools, Bitbuy still lacks any leverage or margin options. As such, traders looking to take advantage of small price movements will need to find another exchange.

Bitbuy Video Review

Of course, you’ll have to load up your account first, as with all other services we’ll discuss later in our review of Bitbuy. It’s worth mentioning that you can only trade a limited selection of cryptos this way, but it’s still a great starting point and works like a charm. The reason for that is really simple – it was the first crypto platform in Canada to become fully regulated as a marketplace.

As shown below, information provided includes transaction type, date, bank, amount, payment method, and status. It is worth noting that there are also no limits on crypto deposits or withdrawals. There are limits for Canadian Dollar deposits and withdrawals, however. For traders, Bitbuy offers traders a wide range of crypto-crypto and crypto-Canadian Dollar pairings via its Bitbuy Pro Trade platform.

Frequently Asked Questions on Bitbuy Exchange

No of the total price of the order, this fee will always be applied. Each type of order you place on the Pro Trade platform will result in a different fee. A charge equivalent to 0.20 percent of the value of the transaction will be assessed if the market order is executed at the current price.

• However, trading on this platform is straightforward but limited.
• In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.
• Once you have placed the trade, the order will appear within the “My Orders” section located on the bottom right-hand-side of the page.
• Major companies like Tesla are adding Bitcoin to their balance sheets as an inflation hedge and to diversify assets.
• Bitbuy’s friendly customer support can assist you at any point in this process.
• Bitbuy is one of the leading cryptocurrency exchanges in Canada, founded in June 2016 by Adam Goldman.

Many crypto currency exchanges pay $5 to $10 in free crypto for opening and funding a new account. A $40 bonus for both users is certainly higher than most crypto exchanges, so this is one nice perk of trying out Bitbuy. But if you’re investing a significant amount of money into crypto, you should use OTC to ensure the process goes smoothly and you’re getting the best deal.

If you’d prefer just to buy without all the bells and whistles, Express Trade is for you, trading crypto in a couple of clicks for you. For comparison, Coinbase had $2.6 billion of trading volume in the past 24 hours. Goldman is not nearly as active on social media as other crypto founders like Brian Armstrong of Coinbase, or the Winklevoss twins of Gemini, with only 800 followers on Twitter.

Mobile app – Bitbuy users are able to access their accounts on the move using the exchange’s intuitive mobile app available on the Apple Appstore and Android’s PlayStore. As you can see from our comprehensive Bitbuy review, it really deserves the title of Canada’s top crypto advanced trading platform. Lastly, all Bitbuy users can enable two-factor authentication on their accounts as an extra layer of security. This, coupled with SSL encryption, means you won’t risk your crypto coins or personal information while trading at Bitbuy. Deposit and withdrawal times vary depending on the payment method. Interac e-transfer is the fastest of the bunch and is usually processed immediately.

Although its services are still limited to the Canadian market, it is likely to scale the business to foreign markets in the future. If you’re unsure about the cryptocurrency market in Canada and want to learn more about its latest developments, you can follow its latest updates at Bitbuy’s resources section on its website. Today, the company cemented its position in the cryptoverse as leading Canada’s cryptocurrency exchange due to its customer-oriented focus and transparency. Besides, it is regulated by Canadian federal authorities as it is registered with the Financial Transactions and Reports Analysis Centre of Canada and acts as Money Services Business .

Bitbuy Verifications

You’ll be presented with several sections per screen containing various graphs and lots of information on each Bitbuy crypto that’s trending. Learning to read candlestick charts will prove beneficial here, since you’ll want to keep track of all the presented data in real time. Luckily, it doesn’t require a separate account, so you can use it whenever you need a deeper insight into the crypto market. Of course, you won’t get locked out of the Express Trade tool if you go Pro. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated.

Of this 99%, an average of 98.12% as of the most recent audit, is held as proof of reserve. Overall, Bitbuy is still one of the best Canadian cryptocurrency exchanges. The fees are a little high, but if you’re tired of restrictions on international exchanges, give Bitbuy a try.

A live price quote on a large amount of “digital assets” for a fixed price, removing slippage. Simply select the crypto you wish to purchase/sell, open the wallet, and click “Buy” or “Sell” as shown below. Once you have selected the deposit option, copy the wallet address to your external wallet or scan the QR code and complete the transfer.

Bitbuy Review 2023

Bitbuy offers OTC trading if you’re investing $50,000 or more. Once you fund your account with $50,000 worth of Canadian dollars or BTC/ETH equivalent, you unlock this feature. All you do is email with your request and a Bitbuy expert will reply within the same day. You can also sell cryptocurrencies you hold through the Express Trade.

Supported Crypto Assets and Trading Pairs

FINTRAC is Canada’s financial intelligence agency that monitors financial activity to detect illegal activity like money laundering. Overall, this is just another indicator bitbuy review that Bitbuy is legit and following regulations. Also note that your phone number must be a North American number and that Bitbuy sends a SMS verification message.

For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you with that other person . With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange. When it comes to digital cryptocurrency deposit and withdrawal fees, they’re completely free.

BitBuy is the Canadian crypto exchange you’ll want to use if you prioritize security, low fees, and superb customer service. BitBuy transaction fees are much lower than larger exchanges like Coinbase or Gemini. The fees for making deposits and withdrawals with CAD are slightly higher depending on the type, ranging from 0.50% to 1.50%. Regarding Bitbuy’s deposit and withdrawal methods, it allows you to move your funds in and out of the platform by wire transfer or Interac e-Transfer.