Bitbuy Review 2021

Bitreview endeavors to provide informative and comprehensive reviews and comparison of bitcoin and cryptocurrency products. While we strive to ensure all information is up to date, it may vary from the information displayed on the products website. While we like to do thorough reviews, it’s sometimes hard to get a full picture of an Hedge exchange or service without having used it for an extended period of time. Hence, we sometimes like to get the perspective from other users on the platform. So, should you really feel the need to access the platform on your phone you can still log in and perform the basic buys / sells even if you don’t have the mobile app installed.

This table does not include all companies or all available products. Neither Bankrate nor this website endorses or recommends any companies or products. After your phone number has been confirmed and your Bitbuy account has been verified, you can switch your two-factor authentication method toGoogle Authenticator. 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.

Fiat Support Cad

So, which cryptocurrency exchange is most suitable for your needs? We will be more than happy to help you pick up the best exchange for you. From a usage perspective, eToroX exchange is fully customizable and intuitive.

They also have limited asset classes so it might not work for advanced or active traders. I transferred my remaining coins out to another exchange, until this gets resolved. Trying to track $10,000 while talking to customer service through email and I’m almost 2 weeks in and no end in sight. All in all, I loved the experience with Bitbuy and I was surprised by how low the fees were.

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he’s passionate about personal finance, investing and helping people take control of their financial life. And if you want to start investing without worrying about the right platform or want to hold crypto in your TFSA or RRSP, a crypto ETF may be for you. The posts below cover the best options available to Canadian investors.

However, since Bitbuy is strongly improving, more cryptocurrencies will be added in no time. CoinSmart maintains a 95% cold storage policy, which means at least 95% of its users’ crypto is always held offline. This is a security measure that only the most advanced exchanges employ, and CoinSmart is leading the charge. There’s also the newer Pro Trade advanced trading platform, which was added in 2019 and offers advanced traders a live trading view as well as more advanced orders. Withdrawal fees are free but only on the cryptocurrency exchange side. It should be noted that they charge a miner or network fee on the transactions.

While some Crypto exchanges are covered top to bottom with number after number, Coinsmart has a friendly, easy-to-understand layout and resources available to new investors. Is available in 188+ countries, making it one of the biggest ranging crypto exchanges in the world. Platform that increases the complexity of trading to improve the liquidity of the crypto while also earning traders more on their trades.

Pro trading is geared towards experienced traders, while Express lets you purchase cryptocurrencies easily and without friction. Bitbuy does not offer Live Chat support, they only have an automated bot and email support. Some people are not too bothered about the lack of Live Chat, so it is more of a personal perference whether you find this an issue or not. If you find customer support a priority, I recommend VirgoCX, one of Canada’s bestcrypto exchanges, which supports Live Chat. Bitbuy is perfect for beginners because there is an option to Express Trade which makes it extremely easy to buy and sell cryptocurrency. Simply select which coin you want to buy or sell, and the amount, and your order will be filled straight away.

Cryptocurrencies On Bitbuy

The email response time can take up to 12 hours on any day of the week, which is relatively fast, especially if compared with competing exchanges. Essentially, it allows you to execute your trading strategy with more precision and control. Besides, the trades are cheaper there – but it might be too overwhelming for inexperienced users. Bitbuy does not list questionable crypto assets either – only the most popular and time-proven cryptocurrencies get listed on its exchange. If you’re just starting out, a Canadian Dollar deposit will cost you between 0.5%-1.5%, based on the payment method.

Two-factor authentication is required every time you log in, as well as when you initiate any withdrawal from your account. Bitbuy also responds regularly to users on social media, and most customers report being satisfied with the service they receive. Bitbuy regularly communicates with communities to find out what features they’d like to see and are generally engaged with their customers. There are no maximum limits on the amount of cryptocurrency you can deposit, and relatively small minimum limits as well. When you deposit fiat currency, the minimums and maximums will depend on the payment method you use. Overall, Bitbuy finds a good compromise between information and ease of use, allowing both new and experienced traders to get what they want out of the platform.

Bitbuy Fees

Bitbuy provides an online platform supporting the investing and trading of cryptos. Bitbuy delivers a simple to use exchange for those looking to gain access to the crypto market in Canada. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin XLM and EOS make up the cryptocurrencies available to trade at the time of writing, with plans to add AAVE and LINK to the portfolio.

• It offers additional tools like in-depth market and technical analysis and charges by using the TradingView technology.
• Low-latency is joined by pop-out widgets allowing you to design your own trading screen.
• Also, the users can get live price quotes that let them avoid spillage.

OTC or Over-the-counter is another product developed for vast trades of over $50,000 in CAD or ETH or BTC equivalent. It offers you to operate directly with experienced traders in Bitbuy. The company’s main objective is to offer safe and secure access to popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar Lumens, Ripple, and EOS. Bitbuy has a dedicated page providing users with Bitbuy supported crypto compatible wallets and a Canadian Dollar wallet. Bitbuy gives investors and traders access to the most popular cryptos in the market place. Users who already own Bitbuy supported cryptos may transfer these to the compatible crypto wallets provided on the Bitbuy platform.

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 . When considering cryptocurrency exchange rankings, though, both of these types of businesses are usually just thrown under the umbrella term – exchange.

First of all, every Bitbuy user has to confirm its identity, meaning that the platform ensures there are no fake accounts and scammers on the platform. That protects users from being impersonated or scammed in the future. Select the fiat currency or cryptocurrency you are withdrawing. The only time I ran into an issue with CoinSmart, I called them and had it sorted out within 5 minutes. The fees applied will be 0.10% when you place limit trades and 0.20% when you place a market order.

These include charts, with the required tools to carry out technical analysis. Bitbuy’s new automated sign-up and onboarding process has made the entire account opening procedure even faster. E-Transfers have a maximum of $10,000 per day, for anything higher it is wise to use a wire transfer with a cheaper fee and $500,000 maximum.

Traders can also earn revenue in various ways, for example by staking and earning interest on their crypto holdings. Binance also offers Canadian crypto traders a way to trade peer-to-peer , participate in margin trading, and access more advanced trading products such as futures contracts. Bitbuy is a cryptocurrency exchange located in Toronto, Canada, that originally launched as Instabit in 2013. With its fee of .25% on every exchange, Bittrex can hardly be beaten by the competition..

Launched in 2016, just before the first major bubble, Bitbuy is one of the most trusted crypto exchange platforms in Canada. Even though access to Bitbuy is limited to permanent residents of Canada, it seems to be making great strides towards expanding its user base. Since there are so many options, it can be hard to whittle them down and choose the crypto exchange that best suits your needs.

Bitbuy Ca

The Bitbuy review is designed to give an objective review of such an exchange. They will also collect the views of the Canadian community on their experience using Bitbuy. Finally, they will discuss whether or not the company is worthy of your business. In terms of size, it is bigger than Bitbuy and all the other crypto exchanges in Canada.

We would recommend this digital currency platform for advanced traders. They offer seven digital currencies and have low transaction fees. They have no buyer fees and a 0.6% seller fee which makes trading affordable. Bitsquare is another platform that doesn’t need you to register for an account. It has marketed itself as a decentralized digital currency platform that allows for instantly accessible trade. What makes CEX.IO a good option for beginners is their use of fiat money.

While exchange security is a priority, the user is often the weakest link when it comes to crypto theft. Therefore, Bitbuy has instituted the best practices in user protection on their systems. These fees are actually quite reasonable and are below the rates that are charged by some of the other Canadian exchanges. For example, their Interac e-transfer withdrawal commands a fee that is less than that which is charged byCoinsmartfor example. While you can opt for the express Interac transfer, we are of the view that it not really worth the fees that are charged. It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck.

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. Bitbuy hasn’t experienced any hacks in the past and remains a highly secure and trusted cryptocurrency exchange. If you’re in a hurry, express buy will cost you a 0.2% fee per every CAD/CRYPTO trade.

This means that in the unlikely event of a hack, the vast majority of cryptocurrency is inaccessible to third parties. A popular option is having a mobile trading platform app and most brokers offer this. The most common platforms we have seen are an online-based platform, desktop app, and mobile app. If you are looking to do a lot of trades day trading crypto, check out our top rated apps for day trading.

However, a broker would go through a third party when making the transaction. The limits will largely depend on your payment method, with the largest deposit you can make being $500,000. There are also limits on the amount of cryptocurrency you can withdraw, with a maximum of $10,000 equivalent in 24 hours. There is a minimum wire transfer deposit of $10,000 and a maximum deposit of $500,000. If you use Interac e-transfer, you need a minimum of $100 and can deposit a maximum of $10,000 every 24 hours. If you use the Express Interac e-transfer service, you need to put in a minimum of $500, and the maximum remains the same as for the ordinary e-transfer service.

Something every trader should consider is the liquidity options offered by their preferred trading platform. The uses of cryptocurrencies are regulated by online ledgers to make sure online transactions are secure. A lot of companies have begun using their cryptocurrencies that you can use in exchange for their goods and services.

All the web features are available on the application, too, so there is no difference. Once your account is verified, you’ll be all set to truly get started. One best practice before you do so is to set up your preferred 2FA option.

The platform has even launched a payment processing solution called Coinberry Pay for merchants and individuals who decide to accept crypto as payment. Coinberry is another great Canadian exchange with excellent features and services. The fact that they’re below the industry-average is yet another reason why people in Canada love it.

Now, you should know that not all crypto exchanges support fiat currencies. It means that you have to purchase them on the other platforms first and then transfer your coins to that specific platform that you want to continue using for trading. Awesome customer support, top cryptocurrencies and moderate fees backup a user-friendly platform. Its expertise and popularity have been built over years working in the Bitcoin industry.

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Bitbuy is among the most leading crypto exchange platforms in Canada. The platform is customer-oriented and aims to provide a user-friendly platform for both beginners and experienced investors. Moreover, the Bitbuy exchange provides competitive bitbuy exchange review trading fees as compared to other Canadian-regulated exchanges. Furthermore, the platform supports Canadian Dollar crypto trading and Canadian Dollar funding, which removes several obstacles that the investors and traders usually face.

There is easy access to crypto assets like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, EOS, Ripple, and AAVE cryptocurrencies. The platform is beginner-friendly as well as suitable for advanced traders. The main drawback of Bitbuy is they only offer 9 different coins on their exchange. KuCoin is another popular crypto exchange that has over 250+ different cryptocurrencies to trade. Based on using and reviewing 15 popular exchanges, Newton is the best overall. Newton has the second best BTC purchase of 0.69%, 5-30 minute deposits via e-transfer, and 40+ cryptocurrencies you can trade.

Unfortunately, many of these established juggernauts are riddled with lots of baggage. This is when traders and exchange fiat for cryptocurrencies or vice versa. This is when people can trade cryptocurrencies with each other.

The Time Is Right For Bitbuy

Other platforms like NDAX and Newton support more digital coins at lower fees than what Bitbuy currently offers. Coinbase supports a wide selection of digital coins and is one of the largest cryptocurrency exchanges worldwide. For the more advanced traders out there, you will probably want to trade on Bitbuy’s more advanced trading platform.

Traders buy up large amounts of cryptocurrency, only to have the exchange refuse to send their coins, running off with the money instead. In retaliation, many large exchanges have started registering with government organizations, which allows the government to investigate all cases of potential fraud or misconduct. The Pro Trade platform offers the option to place limit orders and trade in cryptocurrency pairs as well as fiat trade pairs.

Review Loads of cryptocurrency and blockchain project reviews for your education. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. As you can see, Bitbuy’s fees depend on which deposit method you choose. However, they’re considered to be on par with the industry standard. Also, it’s fair to mention that if you use Bitbuy PRO, fees get lower. Processing Bitcoin deposits takes 3 confirmations, Ethereum – 12 confirmations.

As for the fee structure, the trading fee is slightly on the higher side, although it is unlikely to become a deal-breaker for the majority of traders. Bitbuy also offers OTC trading for those looking to directly buy huge crypto stashes from a counterparty. If you are based out of Canada and love cryptocurrencies, then Bitbuy is definitely worth trying. To prevent DDoS attacks, which can cripple an exchange’s functionality, Bitbuy completes daily encrypted and distributed backups of their servers.

A small fee is required to cover costs such as upgrades and technological analysis. The fact that this is a fee for access to advanced features and trading systems does not change the importance of considering this as a professional trade platform. During that period, the company took regulatory feedback and answered questions on its processes such as buying and selling, foreign exchange and onboarding new crypto assets. Bitbuy was formed in 2013 as a trading platform before pivoting to become a marketplace in November 2019, merging the broker dealer business with a market infrastructure.

If you are sending / receiving funds in CAD then you can use one of the payment methods that we listed in thefees section. It is however important to point out that those processing times are mere indications and will vary greatly depending on your banking provider. When it comes to withdrawal of cryptocurrencies, Bitbuy says that these are free. They are still likely to apply a network or miner fee to your transaction so you should keep that in mind.

Bitbuy also provides a total crypto balance in Canadian Dollar equivalent. Additionally, users may view CAD and digital currency balances via the “Accounts” or “Wallets” pages. Users may view transaction histories by deposits, withdrawals, and referrals.

If you’re looking for a reliable cryptocurrency exchange that’s available internationally, you should consider Coinbase, Binance and Coinmama. When depositing or withdrawing Canada dollars, you will pay from 0.50% to 1.50% depending on the type of deposits and withdrawals – Bank Wire or Interac e-Transfer. Express Trade platform is a great option for beginners who are looking for an-easy-to use platform as well as clear navigation. It doesn’t provide any additional, unnecessary tools that would make your experience more confusing.

Deposit And Withdrawal Methods

However, these applications are only accessible in Canadian app stores. If you’re outside Canada or on vacation, you won’t be able to trade without a good VPN. Bitbuy has the advantage because it has lower trading fees compared to Coinbase. While Coinbase is considered a pretty safe platform for these very reasons, Bitbuy takes it a step further. You only have around 7-8 very commonly listed cryptocurrencies on Bitbuy. Coinbase is cautious regarding the coins listed on its platform.

This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.

Currently, the exchange only onboards residents or citizens of Canada. To find an exchange accepting also non-Canadian traders, you can check out our Exchange List. Merchants We’ve gathered some of the best merchants that accept crypto in one place.NFT Markets All marketplaces for NFTs in one, easy to compare, list. This measure is placed everywhere on the Bitbuy network for employees and users to avoid unauthorized access.

For withdrawals, traders and investors are able to withdraw cryptos by transferring out from your Bitbuy wallet to another compatible wallet. The platform also offers convenient ways to fund Canadian bank accounts. Multiple platforms and order types on offer for crypto investors and traders. Bitbuy Wallets show you all current holdings across all currencies. The company claims to hold 95% of users funds in cold-storage (i.e. offline) to optimize security. Users are required to use 2 Factor Authentication to secure their account, this is compulsory during sign-up.

Pro trade uses Tradingview software providing in-depth charting for technical analysis. Low-latency is joined by pop-out widgets allowing you to design your own trading screen. Fees are extremely reasonable compared to the competition and customer support seems to be doing a very good job.

The bitchy platform is one of the best in the business and has received high marks from its clients. Withdrawals are instant and this is one of the major differences from other platforms. This means that you can withdraw or open a new trade at any time from the comfort of your home without waiting for Day trading a deposit fees. This is an excellent feature if you are a beginner and are looking to enter the markets without excessive losses. Bitbuy is an appealing cryptocurrency exchange for Canadian residents. While their cryptocurrency coin offerings are slim, they do support most of the popular coins.

All components of a trading platform need to be carefully evaluated to provide a satisfactory overall review. Factors to consider include licensing and regulation, range of tradable assets, safety and security, and a user-friendly trading platform for exchanging different cryptocurrencies. As mentioned in the Bitbuy Review, this is a professional managed exchange platform and does offer a variety of options, including options for direct deposits and spreads. A spread is a commission charged by the exchange for facilitating trades. When comparing to other market places like NxVentures and Bexley, the spread is quite low.

These include the likes of digital currency merchant solutions as well as blockchain consultation. InstaBT was created as a way for Canadians to quickly and easily get their hands on Bitcoin. For those who can remember, 2013 was still a relatively new time in the crypto markets and exchanges to easily buy Bitcoin were few and far between.

Visit our Community Guidelines for more information and details on how to adjust your email settings. With more crypto arrows in the quiver, Arbus hopes regulation and more products could set the stage for Bitbuy’s expansion in the next year. Bitbuy COO Jordan Anderson, left, CEO Michael Arbus, and president Dean Skurka. Bitbuy is the first Canadian crypto marketplace to be fully registered with the Ontario Securities Commission . The client was not given the opportunity to put restrictions on the content or review it prior to publication.

Now that you know when and where the company was founded, it’s time to move to the actual Bitbuy review and find out more about the platform’s pros and cons. One thing to keep in mind is that cryptocurrency trading and investing is risky no matter what cryptocurrency exchange in Canada you use. Yes, Bitbuy offers a mobile app, available on iOS and Android devices. Users can operate all the main features of the browser version on the mobile app. The codebase in the exchange is privately maintained, keeping the core components a closed source.

Security And Compliance Features:

But always remember that cryptocurrencies are very volatile and prone to large and frequent swings. So keep this in mind and only invest an amount you’re willing to lose. This is normal practice and Bitbuy’s fees and spread are comparable to the other crypto platforms. Extra tools for advanced traders such as Pro Trade, access to OTC and Bitbuy API. The applications have a smooth interface, perfect for any user.

In May 2020 Bitbuy partnered with Knox to offer fully-insured cold storage of Bitcoin holdings for all Bitbuy users. One of the most important requirements for regular cryptocurrency users is the fees that are charged by the exchange. These include fees that are charged when sending / withdrawing currency as well as the fees that one could be charged for merely buying and selling. Bitbuy offers fiat support, meaning that you’ll be able to purchase cryptocurrencies without much trouble. However, since the platform is created specifically for Canadians, it supports Canadian dollars only. Based on a variety of Bitbuy reviews, this shouldn’t cause any issues.

Typically, cryptocurrency exchanges charge deposits or/and withdrawal fees or trading fees. Bitbuy’s Express cryptocurrency sale and purchase have two different rates. Expert analysis of the crypto exchange market routinely identifies bitcoin exchanges based on a comprehensive set of evaluation criteria.

There are roughly 1,300 bitcoin ATMs or tellers in Canada that allow you to buy bitcoin using your debit card or cash. Automatic Verification- While creating an account on Bitbuy, you need to enter all your personal information verified by a third-party identity verification service. This service then confirms your identity and verifies your account instantly. Finally, your Bitbuy account is ready to use, and you can start trading right after the verification is done.

Despite this, it’s always worthwhile to compare the fees between different exchanges. In general, Bitbuy offers some of the most reasonable fees of the Canadian exchanges. By the time you add on the trading fees and spread of buying the crypto, you’ll be looking at a total cost that is higher than any of Canadian crypto platforms. Overall, NDAX has one of the lowest crypto trading fees in Canada. Even with its fees for CAD withdrawals, you’ll still be paying lower fees compared to Bitbuy especially if you’re not making frequent and little CAD withdrawals. Newton is a Toronto-based crypto trading platform that was launched in 2018 and now has a user base of over 200,000 users as of May 2021.

Bitbuy offers CAD fiat currency deposits through wire transfer, Interac E-transfer or through an expedited Express Interac E-transfer. If you for some reason would prefer to deposit to your choice of trading platform via your credit card then you need to find another exchange. Don’t worry though, you can find an exchange that accepts credit card deposits simply by using our Exchange Finder tool. Note that Bitbuy takes security measures very seriously, and hence their in-built crypto wallets are most reliable and secure.

Fees And Charges

The major advantage of using Bitbuy is that it has very strict compliance rules. The verification process is very thorough and can’t be fooled that easily. The website is also pretty user-friendly and is super easy to navigate, even for a first-time user. It’s a simple to use platform that has Express Trade for beginners or Pro Trade for more experienced users. Coinbase holds approval as a crypto exchange platform in more than 40 states. They appear to be a relatively safe exchange and their fees are broadly in line with the rest of the market.

Adding to this, email support is quick and responsive, replying to queries in under 12 hours, even on a weekend. Deposits can be made in all of the above fiat and cryptocurrencies. To make purchases, users must first make a deposit into their account. CAD deposits have Wire Transfer, Interac e-Transfer and Express Interac e-Transfer. As a compliant and transparent exchange, Bitbuy leads by example on how to deal with crypto-security issues. Aside from regular third-party audits, it also conducts third-party security checks and actively monitors its on-platform activities.

The maximum shown is per transaction, however, so you are able to make consecutive trades. Bitbuy maintains limits to ensure that users receive the best price when buying and selling through Express Trade. Alternatively, users can submit Limit Orders on the Pro Trade exchange. For the more advanced crypto traders, the “Pro Trade” platform offers charts with an array of indicators to support technical analysis.

Bitbuy is registered with FINTRAC as a Money Services Provider, and their servers are secured across multiple world class cloud providers and disaster recovery locations. Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is safe from prying eyes. For the experienced traders, Bitbuy has a Pro Trade feature that displays much more information than the Express Trade option. It includes advanced charts by TradingView, as well as limit and market orders. Let’s find out what services Bitbuy offers, that make it the preferred exchange of 350,000+ Canadian crypto investors.

The platform’s primary aim is to provide safe and secure access to popular cryptocurrencies like Ethereum, Bitcoin, Litecoin, Ripple, Bitcoin Cash, and EOS. Moreover, the company is also expecting to add more cryptocurrencies soon. For fiat deposits, Bitbuy charges 1.50% on Interac e-Transfers and 0.50% on wire transfers. The fiat withdrawal fees for Interac e-Transfer and bank wires are 1.50% and 1.00% respectively.

The inclusion of 60 digital asset pairs means that options like BTC/EURX, BTC/USDX, BCH/XRP, LTC/XRP, XRP/USDX, LTC/CADX, and others are available to traders. For example on the eToroX bitcoin exchange page, there are 11 tradable pairs at the moment including ETH/BTC, BTC/GBPX, and more. Poloniex was founded in 2014 and is a popular crypto exchange. They offer over 100 different Bitcoin cryptocurrency pairings.

Supported Countries

Trading fees are competitive compared to other crypto exchanges in Canada if you use the “Pro Trade” platform. The Bitbuy app lets you access all of the features on their desktop version, including buying and transferring cryptocurrency. It also has biometric capabilities for security when using it on your device. The maximum and minimum limits in CAD for every transaction are provided. Bitbuy maintains this limit so that Bitbuy users can get the best price while buying and selling crypto.

Low fees, high transaction speeds, and a high emphasis on transparency and security simply improve Bitbuy’s position in the market. Bitbuy delivers traders and investors with a multi-tiered security platform. Do note that, in order to make deposits, you will need to go through the registration process in order to open a Bitbuy account. You must also be located in Canada and have a Canadian mobile phone number. Bitbuy supports the deposit and withdrawal of cryptos and Canadian Dollars.

Bitbuy provides users with all the necessary tools in order to track existing transactions and trades as well as review historical activity. 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.

All you have to do is click “buy” on the cryptocurrency of your choice, and then enter the dollar amount you wish to purchase. CoinMarketCap breaks down some of the top cryptocurrency exchanges in Canada. In addition to the potential for lower fees, premium customers have access to bitbuy brokers, who will help with buying and selling logistics and answer any questions. There are often exclusive promotions for premium clientele, making the program well worth checking out. You may also deposit btc, ltc, eth, and bch if you’d like, although this is a manual process which involves requesting an address from support, which will be provided via email. Once you fund the address the amount will show up in your bitbuy wallet, and it may be traded, sold, or withdrawn as usual directly from the platform.

However, 90% of cryptocurrency exchanges these days have this requirement so it is not so much of a surprise. When it comes to exchange transaction fees, Bitbuy operates a simple flat scheme. They have two different rates for sell and buy orders on ‘Express Trade’. When you are using this type of trade you will be charged 0.5%. According to feedback from BitBuy this fee will be reduced to 0.2% once they launch with their new user interface in the coming weeks.

I’m a technical writer and journalist covering cryptocurrency and tech. I believe blockchain can build a better world – I’m here to report on how we get there. This exchange is registered with FINTRAC and is suited for all levels of traders .

Kraken also allows you to exchange your crypto with other digital currencies. This platform is great because it offers a practice trading account so you can give it a try before committing. Security is paramount when we are investing, more so with cryptocurrencies.

So far, a high trading fee is the only disadvantage of Coinbase. Coinbase has the biggest user base in the world of crypto and most people trust it. + Only Canadian exchange to offer BTC insurance thanks to their partnership with Canadian-made Knox. However, in June 2021, Binance pulled out of Ontario, Canada as the province became a restricted jurisdiction. These regulatory clampdowns against Binance worldwide are increasing as of late. The company CEO, Changpeng “CZ” Zhao, has announced a strong pivot towards the policy of “proactive compliance”, including hiring a new head of AML compliance.

This feature is straightforward to use and comes with clear navigation. Moreover, this feature doesn’t confuse the users with any additional and unrequired tools. Finally, the account is set up, and you can start by funding your account either by bank wire, crypto or e-transfer. The customer support experience is decent — not the best-in-class, but above average for sure. In terms of ease of use, Bitbuy is definitely far ahead of most of the competition.

They include Bitcoin , Ethereum , Ripple , Litecoin , Stellar Lumens , Bitcoin Cash , EOS , Aave , and Chainlink . When making an instant trade, in the case of custodial exchanges the exchange will hold your money for you. Regulation affects how coins are exchanged, bought, sold, and traded. The first thing to know is that the regulation of cryptocurrencies differs from platform to platform and from country to country. If you are an active, advanced trader this is something you could consider however, we would not recommend this tool for beginners. Crypto leverage trading is a tool that you can use to open long or short positions by leveraging borrowed funds.

Traders can use a debit or credit card to make purchases or transfer funds directly from their bank accounts. However, Coinbase only supports a little over 50 different coins. While the dependence on email for things like getting a non-btc address might be a bit frustrating, it also demonstrates the active support network at bitbuy! And active they are, with a knowledgeable and friendly staff available to quickly assist during Canadian trading hours.

In case you are a beginner with little experience with cryptocurrencies, you should opt for the Express trading option. However, if you hold some experience in the field of cryptocurrencies, then you should go for the Pro trading option. If you are based in Canada and looking for no-frills crypto exchange, look no further than Bitbuy. The simple yet powerful platform will satisfy most of your needs while offering the best-in-class trading and security features.

These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.

This is a great way for them to get a 20% boost on a relatively modest portfolio. 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. Something else that we really liked about this platform is the fact that it has “break-out” screens.

Crypto Trading Fee

For instance, a simple wire transfer will incur a flat 0.5% fee, while a faster Interac e-Transfer will cost you 1.5% of the deposit amount. Bitbuy has an app for iOS and Android devices that makes it possible for users to keep an eye on prices no matter where they are, and make trades at any time. It is just as easy to use as the desktop site, so beginners will feel comfortable on the app.

Firstly, while Bitbuy supports most of the top cryptocoins, there are still a number of coins that we would have liked to see on their platform. These include the likes of Cardano and Polkadot, which have become exceedingly popular in 2021. Bitbuy has mobile apps for both Android and iOS devices, and both are highly rated. The only real complaint we found is that the mobile app will frequently log users out, requiring them to re-enter their log-in information. While this is certainly inconvenient, it is also in place for security purposes.

Another great advantage of the Bittrex exchange is that it has a great reputation and it is user friendly. Crypto exchanges, to ensure crypto is not used for criminal purposes in Canada. NDAX offers 10 cryptocurrencies available to buy and sell, including most of the major cryptocurrencies like Bitcoin, Ether and Litecoin. NDAX is a Calgary-based crypto exchange that aims to simplify the trading of Cryptocurrency. Coinsmart is a great exchange for Canadians new to the crypto scene.

You will need to include the required security question and answer in order to avoid potential delays in funding the Bitbuy account. You may deposit Canadian Dollars via the Accounts page or the Wallets page. For those looking to deposit Bitbuy supported cryptos, you will need to go to the Wallets page. Upon completion of the verification process, you are ready to start trading.

In this comprehensive review, we will take a deep-dive on Bitbuy. We will go over their security, platform support, fees and technology. We will also gather the opinions of the Canadian crypto community on their experience with Bitbuy. To use this platform you will need to have a North American phone number as well as provide an address in Canada.

However, while Kraken is available in Canada, certain traders are not allowed. For example, Canadian crypto users cannot trade Ethereum tokens that have been staked for Ethereum 2.0. There are trading restrictions on over 20 other tokens, and crypto futures trades are banned for users in Ontario.

The exchange for everyone provides a transparent and low fee model, with charts, API connectivity, and a live order book. Bitbuy is an online crypto exchange designed to support the buying, selling, depositing, and withdrawing of cryptocurrencies. The online reputation is strong across all boards, some regard it as the number one Canadian cryptocurrency exchange. It makes for happy reading, these places are usually breeding grounds for disgruntled users. Bitbuy’s customer service is one of the best in the cryptocurrency industry. The first notable element is a customer support phone line which is usually a scarcity.

Before jumping in you need to understand the fees that might be attached to your account and trades. The most famous currency, Bitcoin, is forex trading currently worth around $563.8 billion. Another downside is that they only trade in three currencies, the US dollar, ether, and Bitcoin.