Trading costs include a spread markup (0.5%–1.85%) for Express trades, 0.5% maker/taker fees for Pro Trade, no deposit fees, and 1.5% withdrawal fees for bank and wire transfers. Staking commission ranges from 25% to 30%, and crypto withdrawal fees vary by asset, so always confirm specifics before moving funds. They provide live order books, fast funding and withdrawals, and well-designed crypto wallet services. For larger trades or specialized needs, they also offer Private Wealth, OTC, and corporate accounts, with dedicated service for high-volume transactions and business clients.

Bitbuy Ease of Use

Bitbuy is a Canadian cryptocurrency trading platform with an easy-to-use interface, low fees, convenient funding and withdrawal options, and unmatched customer service. Trade quickly and easily on Express Trade platform, or use the professional tools on the all new Pro Trade trading platform. In contrast to other popular cryptocurrency exchanges, fees on Bitbuy Pro Trade are the same as its Express Trade platform. As such, users will be charged between 1.5% and 0% regardless of their chosen platform. With many exchanges, like KuCoin and ByBit, offering zero-fee crypto trading, Bitbuy is one of the more expensive options on the market. Bitbuy is one of the few crypto exchanges offering insurance on crypto holdings.

Who is the team or company behind Bitbuy?

• Bitbuy caters to the needs of professional investors by providing a Pro Trade platform with detailed market charts and order types.
• This will populate the wallet box with the deposit address where you should send the crypto.
• Partnership with BitGo allows Bitbuy users to store their bitcoin holdings in an offline vault.
• Hence, we will eagerly await to see if these points have been addressed.

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. It was exciting to see that they are planning on adding AAVE and LINK in the near future and hopefully that will be the start of a trend that sees many more coins added in the coming months. Probably the most popular Canadian cryptocurrency community that one can find is the Canadian Bitcoin subreddit at /r/BitcoinCA.

Product details

Still, the exchange is committed to improving its services and helping its users manage their digital assets efficiently. The platform is highly regulated by FINTRAC and the Ontario Securities Commission (OSC). It employs a 95% cold storage policy to secure its customer assets, fully insures BTC holdings, and outsources large custody of its corporate clients’ holdings to a reputable service provider BitGo. Users can also enable multi-factor 2FA authentication to help secure their accounts. Centralized cryptocurrency exchanges tend to be rather easy to use. When it comes to Bitbuy, I wouldn’t say that such a problem exists.

Super easy

I sold about $8K of BTC and the fee was huge at 2% and then to e-transfer it off it cost me about another $70 or so. If you want to attract traders to the platform then please lower your fees and please work on the pro-trading site, its pretty lacking. As one of the only regulated exchanges here in Canada you have the opportunity to stride away from the competition, such a shame it was an experience then left me feeling sour and ripped off. Bitbuy caters to a wide range of investors by providing two trading experiences.

Hot, warm, and cold wallets are segregated away from the core network, and has been designed to protect Bitbuy and its customers. Bitbuy has introduced Proof-of-Solvency to provide a transparent accounting of exchange traded assets. Due to the platform’s support system, Bitbuy offers easy access to support. Should any problems arise with a user’s account, they can anticipate quick resolution (typically within 24 hours). This commitment to swift and reliable assistance reflects Bitbuy’s excellent customer service. Overall, Bitbuy’s customer support is highly regarded; however, there are some reports of delayed services.

Available cryptocurrencies

There’s also a helpful web database of FAQs and help articles to guide you through account setup, funding, trading and more. Unfortunately, the company doesn’t offer live chat support. Bitbuy is owned and operated by Bitbuy Technologies Inc., a Canadian-based company. In 2022, Bitbuy became part of the WonderFi group, a publicly traded Canadian fintech company. The team comprises experts in digital assets, compliance, technology, and financial services.

Withdrawal issues can result from incomplete verification, pending security reviews, network congestion, or insufficient funds. Check your account status or contact support for specific guidance. The mobile app is available for both iOS and Android devices, offering seamless trading and portfolio management wherever you go. You can buy, sell, stake, and manage over 25 cryptocurrencies, with clear navigation and quick funding in Canadian dollars. But if you want to pay in anything other than Canadian dollars, or you’re looking for advanced trading features like margin or options trading, you’ll need to look elsewhere. Customers can reach Bitbuy’s support team via email and through a web-based help center, with support available during Canadian business hours.

Hi Jamie, thank you for taking the time to share this feedback with us. I can confirm that we never restrict cryptocurrency withdrawals without a legitimate reason. We take cryptocurrency safety very seriously and must take all precautions to protect our users when necessary. Canadians need a trustworthy platform that offers a variety of digital currencies, top notch security, convenient funding options, and unmatched customer service.

Only a North bitbuy review 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. Unfortunately, at the moment, Bitbuy does not offer real-time customer support through either phone or online chat. The biggest advantage to using the Pro trade feature is that traders have more control over the price at which they enter or exit their positions and how much they pay for the trades. Additionally, traders can save on trading fees as the Pro trade feature is much cheaper than the Express trade. We like the fact that they have a responsive customer support desk, however it was disappointing to learn that they no longer answer requests via telephone.

They also have very high standards for legal compliance and operational oversight. To open an account on Bitbuy, start by completing the online registration form with your email and a secure password. You’ll then receive a confirmation email to activate your account. Subsequent steps require you to complete identity verification (KYC) by submitting a government-issued ID, a recent proof of address, and possibly a selfie photo for authentication. Depending on Canadian regulatory requirements, you may be asked to answer a financial suitability or regulatory questionnaire. All documents are securely uploaded through the platform and, in most cases, verification is processed within a few minutes to a business day.

• However, there is no way to set up multi-screen charting, which we’re beginning to see implemented more commonly in exchanges we’ve reviewed.
• Moreover, they have a new “username” feature for an even smoother experience, especially when it comes to logging in.
• Because Bitbuy offers features tailored to most investors, the platform is an excellent entry point to the cryptocurrency space.
• Additionally, all critical pages can be accessed via the header menu, making the site easy to navigate.
• In 2022, Bitbuy became part of the WonderFi group, a publicly traded Canadian fintech company.

For wire transfers, the minimum is higher, often starting at $10,000 CAD. There is no minimum deposit for receiving crypto directly into your account. Bitbuy holds an overall Trustpilot rating of 4.2 out of 5, based on more than 1,200 user reviews. Always double-check your wallet address when withdrawing crypto; transactions are irreversible and incorrect entries may result in permanent loss.