Bitbuy Review 2023: Is this Crypto Exchange Legit?

Since its launch, the Bitbuy exchange has served over 350,000+ Canadians, with over $4 Billion worth of crypto traded. Yes, the Express Trade platform has a 0.50% fee for buying and selling all available cryptocurrencies. The Pro Trade platform has a 0.10% maker fee and a 0.20% taker fee. Express trades on the Bitbuy platform are charged at a 0.20% rate while pro platform trades attract 0.10% and 0.20% maker-taker fees, respectively.

2) Zero deposit fees means that you can get started straight away, without losing money just to deposit funds into the platform. Bitbuy previously charged to deposit, but they have waived that fee now. 1) Express Trade feature makes it extremely easy to buy and sell 17 different cryptocurrencies using Canadian Dollars, even for beginners. Alternatively, you can place limited orders by specifying a buy and sell price. The expected value in CAD will be provided depending on your limited order price. You will also be provided with the options- Use Best Bid or Use Best Ask before placing the trade.

The standard Bitbuy interface provides easy access to critical features, including staking, buying and selling, and the user's portfolio. However, trading on this platform is straightforward but limited. While users can buy and sell digital currency, no charting tools or order types are available, making it challenging to dial in the specifics of a trade. The popular Canadian cryptocurrency exchange Bitbuy was developed in Toronto. All crypto enthusiasts in Canada can access multiple digital currency exchange platforms, both local and international exchanges ones. Nevertheless, several factors must be considered while choosing the most suitable and user-friendly platform.

The platform also offers convenient ways to fund Canadian bank accounts. Bitbuy provides users with all the necessary tools in order to track existing transactions and trades as well as review historical activity. The Bitbuy platform provides investors and traders with charts, which include candlesticks and volumes. Users are able to adjust chart parameters, including time periods. Users who already own Bitbuy supported cryptos may transfer these to the compatible crypto wallets provided on the Bitbuy platform.

How to buy Crypto with Bitbuy

Deposit Bitbuy supported cryptos, for the purposes of trading and investing. Users can easily transfer cryptos between their external wallets and their Bitbuy wallets. As shown below, users may view available balance, total balance, approximate CAD value, and a total holdings value in CAD equivalent. Additionally, users may view CAD and digital currency balances via the “Accounts” or “Wallets” pages. As shown below, information provided includes transaction type, date, bank, amount, payment method, and status. In order to send your e-Transfer, sign in to your online banking platform and send your e-Transfer.

bitbuy review

I have sent multiple messages to have them open it up and they just send me the same 4 questions that I answered for the Gold status application. I'm completly frustrated as I have money sitting in the account and I cannot access it or buy crypto or do anything until they take the restriction off of my account. I’ve been using bitbuy since 2013 before crypto was as popular. Bitbuy is a great exchange and wallet to fund in Canada. Hi Gisele, I'm truly sorry to hear about this experience. This is not the customer experience that we want our users to have.

Relatively Low Fees

Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet. In this part of Bitbuy review, we’ll focus on the positive aspects. We’ll take a look at the security measurements, supported cryptocurrencies, functionality, fiat money support, digital wallet, and even more. According to our research, Bitbuy has never been hacked or had its security systems compromised, resulting in the loss of customer funds or personal information. Bitbuy prioritizes user security using advanced technologies to protect user accounts from identity fraud and 90% cold storage to ensure funds are not affected by malicious activity. For any less common questions, Bitbuy has an email-based direct customer support line, allowing users to create a ticket to receive assistance via email.

It uses one of the best crypto exchanges using above-par security systems to protect the accounts with additional 2-factor authentication and 95% cold storage. 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.

Boba Network Review | Fast & Low-Cost Blockchain Transactions

We provide the best customer service and can answer all... To keep your digital assets safe, Bitbuy login employs two-factor authentication to ensure that only you can access and execute trades on your Bitbuy wallet. Bitbuy allows you to deposit/withdraw money to and from your Bitbuy wallet via Interac e-Transfer and Bank Wire.

Centralized cryptocurrency exchanges tend to be rather easy to use. When it comes to Bitbuy, I wouldn’t say that such a problem exists. Of course, it has a clear design and is easy to use but it also offers additional functionality.

bitbuy review

Yes, Bitbuy is a legitimate cryptocurrency exchange founded in Toronto in 2016. It is registered with FINTRAC as a Money Services Business. For investors that are looking to place orders over $50,000, Bitbuy's around the clock OTC service is an excellent way to trade. Using the OTC desk means that you can avoid slippage and get live price quotes on large amounts of a cryptocurrency for a fixed price.

After doing so, Bitbuy users will be shown a screen showing their balance and a list of assets available to buy and sell. Large volume traders and business clients can also make use of Bitbuy’s OTC trading desk . Although its services are still limited to the Canadian market, it is likely to scale the business to foreign markets in the future. You can trade quickly and easily on Bitbuy Express or use the professional tools on Bitbuy Pro for advanced trading.

Creating an Account with Bitbuy

Settlement with sameday outbound wire transfers to any bank in Canada. A live price quote on a large amount of “digital assets” for a fixed price, removing slippage. Work directly with Canada’s top crypto OTC desk that gives access to competitive rates set by real-time global markets. Additionally, there are no minimum or maximum limitations. As summarized below, processing times do vary by crypto, however.

  • Large volume traders and business clients can also make use of Bitbuy’s OTC trading desk .
  • You can start trading with as little as $50 on Bitbuy Canada, and if you make an initial deposit of $250+, you get a $20 signup bonus.
  • Bitbuy is a well-established platform with a large baggage of experience in the industry.
  • Bitbuy is a cryptocurrency exchange that offers a full suite of digital currency services to individuals, businesses, and institutional investors via an OTC desk.

However, Newton applies an average spread fee of 0.5%-2.00%. Bitbuy’s referral program is one of the most generous in the crypto space. You can buy 15 cryptocurrencies on Bitbuy crypto using Interac e-Transfer and Bank Wire. You can start trading with as little as $50 on Bitbuy Canada, and if you make an initial deposit of $250+, you get a $20 signup bonus. Users can easily and quickly buy Bitcoin, Ethereum, and several other cryptocurrencies using Interac e-Transfer and Bank Wire.

Fiat Support (CAD)

Even so, you can find better trade rates at other international exchanges but there are always trade-offs - they are either unregulated, has worse UX, or lacks proper customer support. Bitbuy servers are secured across multiple cloud providers and disaster recovery locations. Users can store their Bitcoin holdings in an offline vault that is protected by value-matched insurance. Two-factor authentication is required for logging in and executing trades.

Was Bitbuy hacked?

Although Bitbuy hasn't been hacked before, it's likely that if you lost your funds due to a security flaw at Bitbuy that you would be refunded. Bitbuy has a comprehensive insurance policy with BitGo to cover investor's assets in the event of a hack.

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. With the bank wire transfer, it is cheaper to deposit funds into Bitbuy than it is to withdraw at 0.5% and 1%, respectively. Bitbuy’s Private Wealth feature facilitates high-volume trades for retail and institutional investors. The platform is used to broker direct trades between the buyers and sellers without listing them on its order book.

Deposit and withdrawal methods

Bitbuy is leading Canada’s cryptocurrency exchange for a reason, and focused, reliable, and customer-oriented are the right words to define it. Bitbuy does not list questionable crypto assets either - only the most popular and time-proven cryptocurrencies get listed on its exchange. Bitbuy is a fully regulated exchange with oversight from Canadian federal authorities. Bitbuy is a registered Money Service Business in Canada under the Financial Transactions and Reports Analysis Centre of Canada .

Is Bitbuy better than Coinbase?

In terms of cryptocurrency support, Coinbase blows Bitbuy out of the water. Bitbuy currently only supports eight different cryptocurrencies, while Coinbase supports dozens. Of course, many people are usually just looking for bitcoin and maybe Ether, and either platform has you covered in that regard.

Its company headquarters are based in Toronto, Ontario, Canada, and currently serves more than 400,000 Canadians with support for 15 cryptocurrencies. With a more than a 7-year track record, Bitbuy is a seasoned cryptocurrency exchange. Delivering a user-friendly cryptocurrency exchange, Bitbuy caters to both novice and experienced traders and investors. In addition to providing traders with crypto-crypto pairings, Bitbuy also offers traders the largest number of crypto-Canadian Dollar pairings in the crypto marketplace. The Bitbuy exchange is known for its simple to use platform that caters to both novice and more seasoned investors and traders.

To start the Bitbuy review, Bitbuy is one of the most reliable and leading Canadian cryptocurrency exchange platforms in Toronto, Canada. There is easy access to crypto-assets like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, EOS, Ripple, and AAVE cryptocurrencies. This Canadian cryptocurrency exchange platform is beginner-friendly and suitable for advanced traders.

Additionally, users are provided with account balances for each crypto. Bitbuy also provides a total crypto balance bitbuy review in Canadian Dollar equivalent. Users may view transaction histories by deposits, withdrawals, and referrals.

Asesores Mobiliarios GHZ