When it comes to depositing fees, Bitbuy charges one of the highest fees. Bitbuy also charges withdrawal fees up to 1.5% which is charged according to the withdrawal method. If you want to buy bitcoin, ether and other cryptocurrencies, Bitbuy is one of the most secure and easy-to-use platforms around. They are a licensed, regulated and insured cryptocurrency exchange based in Canada.
- Compared to other international and Canadian crypto exchanges, Bitbuy’s offering of cryptocurrencies might seem slim.
- With your Bitbuy wallet, you can store all your cryptocurrencies in one place.
- It goes against our guidelines to offer incentives for reviews.
- However, there are some differences between them which make one platform better than the other.
- The initial sign up requires only a few things from you, like a username, a password, and a North American phone number (+1).
Even if a breach occurs, the vast majority of the funds on the platform are protected. The site implements plenty of features to ensure its users’ funds and assets are always protected. This platform is also located in Toronto and offers double the cryptocurrencies. The exchange is also quite popular with over one million regular traders. The good news is that if you’re sending cryptocurrency to your Bitbuy account, the platform won’t charge you a fee. When withdrawing crypto, you’ll have to pay a withdrawal fee, but that amount will depend on the type of asset you’re moving.
Get real human support
Bitbuy’s customer service reputation is excellent, with a consistently quick response time and knowledgeable staff. Bitbuy is a Toronto-based cryptocurrency exchange that launched almost a decade ago in 2013. Initially, the platform was called Instabit, offering crypto enthusiasts a quick and easy way to purchase Bitcoin. The Express trade feature supports local Canadian dollars through which the transactions are settled. The service is advantageous as it involves fewer steps to buy or sell digital assets compared to using the pro service.
Bitbuy pros and cons
Bitbuy is now approved and regulated by the OSC, and the company has been acquired by WonderFi (a Kevin O’Leary backed company). WonderFi is also acquiring Coinberry, setting Bitbuy’s Web3/FinTech group as a leader in Canada and employing the most Web3 professionals in the country. A taker fee is a fee charged when a buy order is matched immediately with a sell order on https://broker-review.org/ the books. Buy and sell crypto with 400,000 other Canadians on Bitbuy, a Canadian-owned cryptocurrency platform. BitBuy scores 3.6 out of 5 stars from more than 250 reviews, which is actually quite high compared to other exchanges like Coinbase, which barely ranks 1.6 out of 5. BitBuy also conducts frequent financial and security audits using trusted third parties.
If you withdraw CAD from your Bitbuy account, there is a 1.50% fee when withdrawing via Interac e-Transfer. There is also a fiat Withdrawal fee of 1.50% if you withdraw via wire transfer. Bitbuy is a reliable and trustworthy crypto platform and one of the first entrants into Canada’s digital asset exchange business. Yes, Bitbuy has a dedicated customer support team that can assist users with inquiries and issues.
It is entirely up to you to decide how much Bitcoin to buy, sell, and trade, which is the benefit of being a decentralized system. Yes, it is perfectly legal to purchase Bitcoin in most parts of the world. Although most jurisdictions do not treat the virtual token as legal tender, you can still legally buy, sell, trade, and spend Bitcoin. It is generally viewed as a commodity that can be utilized to pay for goods and services. Businesses looking to add cryptocurrencies to their portfolio can rely upon Bitbuy to help them throughout the process. Over 1,500 businesses have already entrusted their crypto dealings to this company.
Bitbuy has an extremely in-depth FAQ support center, to the point where you’ll rarely need to contact customer service anyways. Overall, in terms of security features, I don’t think there is a better platform in Canada than Bitbuy, and the company is extremely transparent about it. As such, many Canadians are looking for an easy way to trade cryptocurrencies like Bitcoin, Ethereum, Dogecoin and more.
How to sign up on Bitbuy exchange
The site is easy to use and offers plenty of features to keep user assets safe. The mobile app gives users all the features they have on the web version of the site, which includes transferring CAD or crypto or buying and selling your favourite digital assets. Buying and selling cryptocurrencies used to be complicated, not to mention shady. Nowadays, there are dedicated crypto exchanges and platforms where you can quickly – and safely! – trade all the popular crypto coins, or even stake them and earn more over time. The two platforms offer similar services to their users such as buying and selling digital currencies, trading digital assets, and more.
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. Like Bitbuy, Wealthsimple Crypto is also registered with FINTRAC and the OSC so it is a secured and regulated crypto platform for Canadians.
He has become an authority figure in the Canadian finance niche, primarily due to his attention to detail and overall dedication to achieving the highest returns on his investments. Bitbuy isn’t, nor is any other cryptocurrency trading platform. With Bitbuy’s Express Trade feature, beginners who simply want exposure to cryptocurrency in seconds can do so. If that’s you, with Express Trade, all you have to do is enter the amount of CAD you want to invest in a certain cryptocurrency and click “Buy”.
How To Use BitBuy
This includes the option to buy / sell and deposit / withdraw. When you buy or sell a coin you are buying at the rate Bitbuy is willing to give you at that particular moment. The quickest of these is probably through the use of their instant verification option. The move was made by Bitbuy as part of their commitment to best practices in the cryptocurrency exchange industry while awaiting greater regulatory clarity in Canada. While exchange security is a priority, the user is often the weakest link when it comes to crypto theft.
Note, you will need to have sufficient funds in your account first. Bitbuy’s Pro Trade is more complicated and suitable for experienced users who would like to see live charting, price movements, order books, and advanced order types. These questions ask you about your net worth, income, bitbuy canada review and projected income for the next year. The purpose of this financial profile is to assess your “suitability” for investing in crypto. Qualified accredited investors get access to higher limits. Since Bitbuy is a regulated crypto exchange, it must comply with all regulations.
Additionally, traders can save on trading fees as the Pro trade feature is much cheaper than the Express trade. Bitbuy offers a slew of products and features that are desirable to all kinds of crypto traders, from beginners to advanced users. 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. I am having issue with my account and I am trying to reach the support last three days. I got no response, only things response is the bot, And it’s useless bot.
If you register using the button below and deposit at least $250 into your account (the minimum requirement), you’ll receive $40 extra for free for a limited time only (no code needed). The peer-to-peer decentralized digital token maintains a maximum supply of 21 million coins. Approximately 18.8 million bitcoins have been mined to date, leaving about 2.1 million coins left to be mined. Eighty-nine per cent of Bitcoins have been issued, and 900 new Bitcoins are produced every day. Get the best cryptocurrency rates with your very own personal Account Manager.
Bitbuy Products and Services
Learn more about how both crypto platforms compare in this Bitbuy vs Shakepay review. Both CAD deposits and withdrawals are completely free on Shakepay. The Shakepay app is arguably the most beginner-friendly crypto app in Canada. With its intuitive and easy-to-use interface, buying your first crypto is very easy and straightforward.