Strong points
As the cryptocurrency market continues to evolve and attract new participants, the demand for reliable and user-friendly crypto exchange platforms has never been higher. Among the myriad options available to investors, Bitbuy emerges as a prominent player. Founded with the vision of providing a seamless and secure environment for trading digital assets, Bitbuy has swiftly gained recognition for its commitment to transparency, robust security measures, and intuitive user experience.
In this comprehensive review, we delve into the core features and functionalities of the Bitbuy exchange platform, offering an honest assessment to aid novice and seasoned investors in navigating this dynamic landscape.
Bitbuy was founded in 2016 in Toronto, Canada, with the aim of providing Canadians with convenient, reliable, and secure access to Bitcoin and other cryptocurrencies. The platform is designed to be user-friendly for beginners looking to increase their chances of success in crypto investments while also offering advanced features for experienced traders.
With over 85 employees registered with FINTRAC as a money services business in the category of virtual asset service providers, Bitbuy stands as one of the top crypto platforms in Canada in terms of transaction volume. It provides cryptocurrency trading services to beginners, advanced traders, and businesses, making it the go-to crypto destination for investors.
Currently, Bitbuy offers the buying and selling of 25 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. The platform operates as a centralized cryptocurrency exchange, allowing users to buy and sell cryptocurrencies directly.
Bitbuy offers two trading options: the Express Trade feature, which enables beginners to purchase cryptocurrencies at competitive prices easily, and the Pro Trade feature, which provides advanced charts by TradingView for experienced traders.
In summary, Bitbuy is Canada’s regulated and reliable cryptocurrency exchange platform. It offers a variety of cryptocurrencies, user-friendly features for beginners, and advanced trading options for experienced traders.
Bitbuy
Bitbuy
Bitbuy offers 25 of the most popular cryptocurrencies. Here’s an overview of some supported by the platform:
Over time, exchange platforms have multiplied. As one of the most well-known Canadian exchange platforms, BitBuy offers a wide range of services and features for cryptocurrency investors to manage their assets in a simple and secure manner. In this section, we’ll take a quick look at the various services and features of BitBuy.
The “Express Trading” feature offered by Bitbuy is particularly suited for beginners looking to invest in cryptocurrencies. It allows easy buying or selling of digital currencies without analyzing markets or configuring complex order types.
Simply select the desired currency and amount, then confirm the order. This option is highly intuitive and user-friendly, even for those with no prior experience trading cryptocurrencies on this platform.
With Bitbuy’s Pro Trade, you can access advanced charts by TradingView to get a detailed view of market movements.
These charts include technical indicators and analysis tools that help you make informed trading decisions. You can also use limit and market orders to execute your trades accurately and efficiently.
In summary, Pro Trade is the ideal tool for experienced traders looking for advanced trading features to enhance their trading experience on Bitbuy.
As an experienced trader looking to save time and optimize your trading strategy, the Bitbuy API is your solution! It allows you to connect your trading tools and program automated transactions in real time across over 10 different markets with a variety of CAD-crypto and crypto-crypto pairs.
This allows you to focus on your trading strategy rather than transaction execution. With real-time exchange rates and high-frequency transactions, you can be confident that your trades are executed quickly and efficiently.
If you’re an experienced cryptocurrency investor and need to place a significant order of over $50,000 to buy your favorite cryptocurrency, Bitbuy’s OTC service allows you to enter the market without worrying about price fluctuations and high transaction costs.
Bitbuy’s OTC service is a one-stop shop for investors looking to place large orders without experiencing slippage or price discrepancies. You can avoid concerns about price volatility and get real-time quotes on large quantities of a cryptocurrency for a fixed price.
The process is simple. Just contact Bitbuy’s OTC desk, available 24/7, and provide them with the details of the order you want to place. They’ll then provide a live quote for your transaction amount, and you can confidently place your order.
Bitbuy’s comprehensive crypto insurance feature, in partnership with BitGo Trust Company, provides peace of mind for cryptocurrency investors. In accordance with the latest Canadian regulations, cryptocurrencies are stored in a secure and qualified location, BitGo Trust Company, specifically designed for storing digital assets.
This security measure is accompanied by a comprehensive insurance policy covering all cryptocurrency assets in your Bitbuy account. In case of loss or theft, investors can rest assured that their holdings are protected by the same insurance policy. This feature also ensures that all cryptocurrency assets are stored under optimal security conditions, thereby eliminating the risks associated with holding digital assets.
When choosing a cryptocurrency trading platform, the potential fees of different transactions should be carefully considered. Below are the fees charged on BitBuy:
The good news is that there are no deposit fees on Bitbuy. The platform no longer charges fees for deposits in CAD or cryptocurrencies. This decision was made to provide all cryptocurrency investors, whether new or seasoned, with a more open and competitive trading environment.
If you want to deposit fiat currency or cryptocurrencies on Bitbuy, you can do so without incurring additional fees. This is a significant advantage compared to other cryptocurrency exchange platforms.
For the “Express Trade” account, each transaction costs 1.50%, whether you are buying or selling cryptocurrencies. For the “Pro Trade” account, fees are also 1.50% for both Makers and Takers.
| Trading express | Pro Trade |
| Purchases and sales: 0%-1,5% | Purchases and sales: 0%-1,5% |
However, fees can be reduced if you’re a high-volume trader, with reduced fees for both Makers and Takers based on trading volume. This allows professional traders to lower costs and optimize their profits on Bitbuy.
| Levels | Trading volume | Maker Fees | Taker Fees |
| Level 4 | 5 million dollars + | 0% | 0,10 % |
| Level 3 | 1 M$ – 5 M$ | 0,15 % | 0,25 % |
| Level 2 | 250 000 $ – 1 million dollars | 0,50 % | 0,75 % |
| Level 1 | < 250 000 $ | 1,50 % | 1,50 % |
Withdrawal fees for Canadian funds at Bitbuy are 1.50%, whether an Interac e-Transfer or a bank transfer.
However, withdrawal fees for cryptocurrencies vary depending on the currency. For example, withdrawal fees for Bitcoin are 0.00025 BTC, 0.05 ETH for Ethereum, 0.02 LTC for Litecoin, 3 DOGE for Dogecoin, and so on. You don’t have to memorize this amount, as Bitbuy’s withdrawal fees are transparent and indicated for each cryptocurrency.
When you choose to stake your cryptocurrencies on Bitbuy, it’s important to understand how staking fees work.
In reality, when you stake your cryptocurrencies on Bitbuy, you participate in the transaction validation process on the network. In exchange for your participation, you’re rewarded with a portion of the transaction fees collected on the network. However, Bitbuy charges fees for these staking rewards.
The percentage of staking fees varies depending on the cryptocurrency you stake, but it’s generally less than 10%. Here’s the fee table for some cryptocurrencies on Bitbuy:
| Cryptocurrencies | Fees | Net Rewards Rates |
| Ethereum (ETH) | 25% | 3.30 – 4.87 % |
| Solana (SOL) | 25% | 4.28 % |
| Polygon (MATIC) | 25% | 4.88 % |
| Polkadot (DOT) | 0% at launch | 13.92% |
Bitbuy
Bitbuy
Bitbuy offers a mobile application that provides nearly all the functionalities on its website. The Bitbuy app offers a complete and convenient mobile trading experience for users who want to stay connected to their cryptocurrency portfolio wherever they are.
Its user-friendly interface and feature-rich design make it a must-have option for cryptocurrency investors. The Bitbuy app lets users securely buy, sell, and trade cryptocurrencies in real time. In addition to these features, here are some others below:
The charts in the Bitbuy app allow users to analyze cryptocurrency market trends in detail. The platform provides charts, including candlesticks and volumes, which can be adjusted according to the user’s desired timeframes.
Charts can be accessed on the Pro Trade page of the Bitbuy app. Interactive charts powered by TradingView give users the ability to adjust timeframes, draw lines, and include indicators to facilitate technical analysis.
Thus, with Bitbuy’s charts, users can track cryptocurrency prices in real time and make informed decisions based on advanced technical analysis. Traders can also receive real-time notifications on market movements and cryptocurrency prices they follow, enabling them to stay informed and responsive at all times.
The wallet is an important feature of the Bitbuy app that allows users to view their cryptocurrency balances in real time. Users can access the Wallets page to see their available balance, total balance, approximate value in CAD, and total value of their holdings in CAD equivalent.
Users can also review their transaction history on the Pro Trade page of the Bitbuy app. This feature enables traders to track their orders and monitor their performance easily.
For traders using Bitbuy’s Pro Trade platform, the app provides market trading histories in addition to the trader’s orders. This information is broken down into open, executed, and canceled orders, with a summary of fees provided as well.
Bitbuy offers two different account types to meet the needs of users:
This type of Bitbuy account is ideal for those who just need a basic wallet to buy and sell cryptocurrencies.
All you need to do is provide some basic information to get started (like your name, email address, and phone number), and the setup is quick and hassle-free. Once your trading account is configured and verified, you can start buying and selling digital currencies.
If you’re an investor or an entrepreneur looking to conduct large-scale cryptocurrency transactions, then a Bitbuy professional account is what you need.
To get started, you can easily create a professional account by selecting the corresponding option on the registration page. However, before you can begin making transactions, you’ll need to undergo personal KYC verification to ensure security and compliance.
Once you’ve completed the KYC verification, you’ll need to download a business disclosure form along with certain additional documents. These may include articles of incorporation and proof of address.
Providing a shareholder registry and a list of directors is necessary for companies with shareholders or directors. Once approved, you can fund your account and start making high-value transactions.
Bitbuy
Bitbuy
Security is one of the primary concerns for investors when trading cryptocurrencies and Bitbuy is a platform that has demonstrated its commitment in this regard. This section will focus on Bitbuy’s security measures, regulations, and licenses.
Bitbuy has implemented a “cold” storage policy for 95% of the cryptocurrencies on the platform. This means that these assets are stored offline on servers disconnected from the Internet, significantly reducing the risks of hacking and malicious intrusion.
Bitbuy ensures that users’ cryptocurrencies are securely stored. This option allows Bitbuy users to rest assured that their assets are safely stored and protected from threats. This adds an extra layer of security to the Bitbuy platform, making it even more appealing to cryptocurrency investors and traders.
Bitbuy implements Two-Factor Authentication (2FA) to enhance user security. This is an important feature of the Bitbuy app that ensures the security of users and their transactions. It relies on the use of two forms of authentication: a password and a smartphone. When a user logs into their account or execute a transaction on Bitbuy, they must enter their password and provide additional authentication proof via their smartphone. This helps prevent hacking attacks and account theft attempts.
Bitbuy’s network security is comparable to a virtual safe for cryptocurrencies. The platform utilizes web servers from reputable service providers that comply with ISO, SOC, and FIPS 140-2 standards. These standards are strict international security criteria that ensure user information is stored securely and protected against malicious attacks.
Bitbuy is a cryptocurrency trading platform operating in Canada. It is subject to regulations and licenses to ensure its security and legitimacy in the market.
Bitbuy is a registered Money Services Business (MSB) with Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC).
This means that Bitbuy is subject to Canadian financial security standards and is required to comply with cryptocurrency laws. This regulation ensures that the platform adheres to Know Your Customer (KYC) standards, anti-money laundering, and counter-terrorism financing laws.
Additionally, Bitbuy is regulated by the Ontario Securities Commission (OSC), which oversees financial markets in Ontario. This regulation means that Bitbuy must comply with security and investor protection requirements established by the OSC. This includes monitoring transactions on the platform to ensure no suspicious activities and that investor funds are protected.
Bitbuy has an excellent reputation for security, largely due to its long-standing presence in the Canadian market. Furthermore, its parent companies, First Ledger Corp. and WonderFi are well-established entities that enhance Bitbuy’s credibility.
Bitbuy mandates independent partners to conduct regular security and financial audits. This practice ensures that all systems are up-to-date and that suspicious transactions are objectively reviewed, enhancing the platform’s security.
Ultimately, Bitbuy’s regulation and compliance demonstrate its commitment to providing users with a secure and transparent trading experience.
Bitbuy makes investing in cryptocurrency easy and convenient, even if you’re new to the market. In this section, we’ll guide you through creating a Bitbuy account and purchasing cryptocurrency.
Bitbuy
Bitbuy
Once you’ve filled out the form, you’ll need to go through a Know Your Customer (KYC) verification process.
This involves submitting identification documents such as a passport or driver’s license. The verification process can take minutes to hours, depending on the team’s workload.
For added security, you can also activate two-factor authentication, as we explained earlier.
To deposit Bitbuy, follow these simple steps:
Bitbuy also offers an automatic deposit feature, which allows you to set up a regular deposit according to a schedule of your choice. This ensures you always have funds available to invest in cryptocurrencies.
To buy your cryptocurrency on Bitbuy, follow these steps:
Don’t forget that Bitbuy also offers advanced features such as margin trading and limit orders, which can be used to customize your cryptocurrency buying experience.
Bitbuy
Bitbuy
Bitbuy is a cryptocurrency exchange platform suitable for a wide range of users. However, certain user profiles will particularly benefit from the experience and features offered by Bitbuy. Here are some examples of these user profiles:
First, novice investors looking to start buying and selling cryptocurrencies may find Bitbuy easy to use and user-friendly. The platform is designed to be intuitive and easy to navigate, which can help beginners understand the basics of cryptocurrency trading.
Additionally, users looking to transact quickly and seamlessly can benefit from Bitbuy. The platform offers an intuitive user interface and round-the-clock customer support to address questions and resolve issues.
Users looking to diversify their investment portfolio may also find Bitbuy useful. The platform supports major cryptocurrencies, allowing users to invest in a variety of digital assets and diversify their risk more effectively.
Bitbuy is also an ideal option for users looking to purchase cryptocurrencies safely and securely. To protect user funds, the platform has implemented strict security protocols, such as two-factor authentication and a cold storage policy for most cryptocurrencies.
Furthermore, Bitbuy is suitable for experienced investors looking to make significant transactions. The platform offers a variety of advanced features for professional traders, such as real-time price charts, advanced orders, and high liquidity.
In reality, Bitbuy caters to a variety of user profiles, from beginners to professional traders to long-term investors. The platform is easy to use, offers advanced features, is safe and secure, allows for investment diversification, and provides a fast and transparent trading experience.
Quality customer service is essential when trading cryptocurrencies to assist you with any issues.
Bitbuy is aware of this and offers comprehensive support to help users navigate its platform. Whether you’re a beginner or experienced, Bitbuy has a range of guides, tutorials, and FAQs to help you understand cryptocurrencies and the platform.
Additionally, Bitbuy maintains an active presence on social media platforms such as Facebook, Twitter, LinkedIn, Instagram, and YouTube, providing trading tips and regular cryptocurrency updates to its followers. If you have any questions or issues with your account, you can submit an online contact form or send an email to [email protected] for assistance.
While Bitbuy does not currently offer real-time customer support via phone or online chat, their customer service is quick to respond to support requests submitted through their contact form. Furthermore, the information in their support section is comprehensive and regularly updated, allowing users to resolve most of their issues independently.
Bitbuy
Bitbuy
Bitbuy is a solid and reliable cryptocurrency trading platform for Canadian investors. Regulated locally, it offers a high level of security for user transactions and an intuitive user interface suitable for both beginners and experienced traders.
Users can trade on their computer or smartphone via the Bitbuy mobile app, allowing them to stay updated on market movements wherever they are.
The platform also offers a range of popular cryptocurrencies as well as competitive trading fees.
Furthermore, Bitbuy offers a variety of deposit methods to allow users to start trading quickly and easily. The platform is also known for promptly resolving issues encountered by its users, which enhances confidence in their service. In summary, if you are a Canadian investor looking for a reliable cryptocurrency trading platform, Bitbuy could be your ideal option.
