I withdrew almost $100 worth of Bitcoin to a hardware crypto wallet. The more liquid a crypto exchange is, the less likely there will be unexpectedly high transaction costs. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
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. Bitbuy is considered to be one of the most popular and reliable crypto exchange platforms in Canada. However, to figure out how good it actually is, this Bitbuy review will cover such aspects as security, fees, available cryptocurrencies, functionality, including Bitbuy PRO, and even more. Their response time is faster than other cryptocurrency exchanges, many of whom don’t offer phone support at all. Self-serve assistance is available via the support page of the Bitbuy website.
Bitbuy also sends an email with a verification link once you verify your phone number.Once you verify your email, you enter extra information to complete your account. In some cases, you still upload government ID or documents like bank statements to prove your identity, but most verification occurs automatically. Plenty of cryptocurrency exchanges have referral programs to incentivize new users.
Bitbuy does not currently offer crypto lending services to its Canadian users. Those interested in lending features must consider dedicated lending platforms outside Bitbuy. Bitbuy does offer staking for select cryptocurrencies, primarily well-established proof-of-stake assets. Deposit options are largely free, but withdrawal fees are clearly outlined and generally fixed—for example, $1.50 for Interac e-Transfer withdrawals in fiat. Crypto withdrawal costs are aligned with network fees, and Bitbuy does not significantly mark up these charges, setting it apart from platforms with excessive withdrawal premiums. What stands out is the absence of inactivity or maintenance fees, further supporting cost-effective holding for both frequent and passive users.
Bitbuy Review: The Top Choice for Buying Bitcoin in Canada
This feature is created for big trades ($50,000 in CAD or equivalent BTC or ETH). It allows you to work directly with one of Bitbuy’s experienced traders. It comes with additional features such as in-depth market charts using TradingView technology, advanced orders (stop-loss, limit), live order book, and even more useful tricks and features.
Best Crypto Lending Platforms
In conclusion, Bitbuy stands out as a reliable and user-friendly cryptocurrency exchange in the Canadian market. With its intuitive platform, robust security measures, and a wide selection of cryptocurrencies, Bitbuy offers a seamless trading experience for both beginners and experienced investors. The introduction of a crypto licensing regime further reinforces Bitbuy’s commitment to compliance and customer protection. Happy users often praise Bitbuy’s customer support and its user-friendly interface, making it easy for both beginners and experienced traders to navigate. The positive feedback highlights the ease of making deposits, the smooth trading experience, and the helpfulness of the support team. Bitbuy is one of the few crypto exchanges offering insurance on crypto holdings.
- Now it’s time to check your email address, you should have received a letter from Bitbuy.
- Staking, DeFi staking, and lending services are increasingly important for crypto investors seeking passive income and portfolio optimization.
- 2 Products with instant approval have a provisional decision within 60 seconds.
- Apart from Bitcoin, Bitbuy’s supported cryptocurrencies include Bitcoin Cash, Ethereum, Ripple, Litecoin, Stellar Lumens and EOS.
- Bitbuy is a user-friendly and secure Canadian cryptocurrency exchange, making it easy for Canadians to buy and sell crypto with easy CAD deposit methods.
Does Bitbuy offer a referral or cashback program?
To deposit, head to your account dashboard, hit the “deposit” button, and you’ll be presented with a list of available options. I deposited $100 via Interac e-transfer to Bitbuy and it took just seven minutes for it to arrive in my account, which is the fastest I’ve seen. It’s possible that Bitbuy’s new bitbuy canada review fee structure hasn’t been fully applied to my transaction yet, or perhaps there are other factors at play affecting the fee calculation.
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They are a licensed, regulated and insured cryptocurrency exchange based in Canada. Bitbuy offers different payment methods including wire transfers and Interac e-Transfers. They also offer the ability to fund your account with crypto if you don’t have Canadian dollars on hand when you want to make a purchase. Bitbuy is a reliable and trustworthy crypto platform and one of the first entrants into Canada’s digital asset exchange business. We compared Bitbuy side-by-side against some other Canadian and global crypto exchanges. Bitbuy’s trading fee for instant cryptocurrency trades using CAD is 0.2%.
Adam Goldman, a trailblazer within Canada’s cryptocurrency space, was the mastermind behind this vision and remains at the helm of the Bitbuy team today. As always, he is dedicated to providing a secure and user-friendly platform for digital currency exchange. The account dashboard is also well organized, so I can quickly track my portfolio or make deposits and withdrawals without hassle. Overall, this platform keeps my trading experience smooth and intuitive.
On Bitbuy’s Pro Trade platform, you can easily view your open orders, select either a limit or market order when making a purchase, and see all market orders from other users. This gives you a clear overview of the trading activity happening in real time. However, Bitbuy customer reviews on Trustpilot and forums like Reddit are generally quite positive and cite timely customer support. Plus, both Coinbase and Gemini are branching into NFTs, so the platforms will have even more options to invest in digital assets. You can actually use Express and Pro Trading through the mobile app.
The good news is that whilst using Bitbuy you won’t miss out on anything. The provider offers the ability to trade not only using the desktop platform but also their mobile app that’s available for both iOS and Android users. Yes, Bitbuy is one of the most secure and reliable cryptocurrency exchanges in Canada. Bitbuy is a Canadian cryptocurrency exchange platform that was founded by Adam Goldman in Toronto, Canada, back in 2013.
As such, users wishing to access technical indicators must use another crypto charting platform, like TradingView, or an all-in-one app like ByBit. The fee structure on Bitbuy is trading volume-based, meaning frequent traders can earn significant discounts when using the platform. Trade costs start at 2% for taker and maker fees, up from the 1.5% Bitbuy charged previously. However, with a high enough trading volume, users can reduce trading fees on Bitbuy to 0% (maker) and 0.1% (taker).
- This process is in accordance with Know Your Customer (KYC) regulations and anti-money laundering (AML) requirements.
- The platform also provides detailed FAQs and knowledge base resources for fast self-service solutions.
- Bitbuy is perfect for both beginners and more experienced traders.
However, if you live in Canada, you should definitely check this platform out. Moving to fees for trading, they tend to be different for market makers and takers. In most cases, fees for makers tend to be lower than the ones for takers. Some exchanges even offer a negative-fee model for market makers.
Bitbuy presents an array of opportunities to trade crypto-to-crypto pairs. The platform currently facilitates transactions across a diverse portfolio that includes 100+ cryptocurrencies. E-Transfers are typically processed within a few hours, though in some cases it can take up to one business day for funds to appear. Bitbuy’s history begins in 2013 when it was founded by Adam Goldman in Toronto, originally under the name InstaBT.
They also have a large selection of coins for sale on their website, making it easy for you to diversify your portfolio with more digital assets. The fees vary for different coins if you want to withdraw cryptocurrency from Bitbuy. Bitbuy will review your information and documents and typically approve your account within 1-2 business days. Bitbuy is approved by the Ontario Securities (OSC) and the Canadian Securities Administrators (CSA) and is Canada’s first registered marketplace and crypto brokerage. This means more security, scrutiny, and transparency of their operations.
