Bitbuy: Everything You Need to Know About Canada’s Top Crypto Platform

Bitbuy: Everything You Need to Know About Canada’s Top Crypto Platform

crypto trading

bitbuy canada review requires a minimum deposit of C$100, which is quite a high figure compared to other platforms. Shakepay, for example, requires only a C$5 minimum deposit. Fees for withdrawal are 1% to 1.5% depending on method of withdrawal. On Coinbase, they could be as little as 1%, but could also go upto 5% for Bitcoin, because they also charge network fees. Quarterly financial audits and monthly security audits are conducted across all departments by trusted third-party auditors. Moreover, weekly transaction reporting audits and suspicious activity reviews are also part of the system.

  • Coinbase has its own Visa Debit card, known as Coinbase Card.
  • In fact, if you have a social media account, I’ve found this is a very strong way to get a hold of them with general inquiries as well.
  • Those who are unhappy have several complaints including the amount of “red tape” now involved since Bitbuy became regulated and compliant with the Ontario Securities Commission.
  • Overall, Bitbuy is known for providing users with an easy-to-use exchange that’s ideal for both beginner and experienced traders and investors.
  • By choosing Defi yield through Coinbase, they handle all the details, making the process easy for investors.

You can trade more than 25 crypto coins with Bitbuy. In this Coinbase Review, I take a close look at one of the world’s most popular cryptocurrency exchanges. I cover the most important features, pricing for Canadian users, and the pros and cons.

How to Register with Bitbuy

A gentleman named Carl got back to me within a half hour. He helped me out by giving me the right reports I needed plus the additional information regarding the use of the API with all the precautions to take. Hi Ryan, I’m truly sorry to hear about your situation. Please be advised that Bitbuy does not work with the third party you have mentioned. Bitbuy is a registered Money Service Business with FINTRAC, and we take these matters very seriously. We advise you to reach out to our support team and your local authorities as soon as possible.

There is a 0.10% maker fee and 0.20% taker fee on the Pro Trade platform. Coinbase, on the other hand, charges maker fees between 0.04% to 0.50% and taker fees between 0.00% to 0.50% based on a pricing tier structure. The Express Trade platform is for people who just want to buy cryptocurrency and hold it as an asset instead of making daily purchases and sales. Pro Trade is more user friendly and has more tools than Coinbase Pro or Newton Pro Beta. Bitbuy offers plenty of options for investors and traders.

Bitbuy reviews

The Bitbuy OTC service caters to high-volume cryptocurrency traders by ensuring there is enough liquidity to fulfill each order at one price. They’ve created new “Gold Account” status, allowing for faster and higher wire deposits and withdrawals. Bitbuy isn’t, nor is any other cryptocurrency trading platform. Unlike some other cryptocurrency platforms, I found Bitbuy to be extremely transparent when it comes to their fees. The full value of digital assets in Bitbuy’s cold storage are insured with BitGo Trust Company, the world’s first qualified custodian, purpose-built for storing digital assets. Get low and transparent fees with live order books for advanced users.

products and services

The site is easy to use and offers plenty of features to keep user assets safe. Some cryptocurrency exchanges boast of no trading fees. However, that doesn’t mean that they’re not charging you.

Bitbuy review

Although Bitbuy supports more trading pairs than many platforms, it falls short of others. Bitbuy “Express” supports 7 trading pairs while Bitbuy “Pro” supports 13. Alternatively, the Coinbase cryptocurrency exchange supports 20 trading pairs as of April 2021. Since 2016, Bitbuy has operated as a Canadian cryptocurrency exchange that enables users to buy and sell digital assets. And Keep in mind that although this may be frustrating, this is practically par for the course. Most cryptocurrency platforms have fees to deposit, trade and/or withdraw money.

bitbuy canada review

While Bitbuy has some of the most popular cryptocurrencies available, it does not have the largest portfolio of altcoins. Nevertheless, if you’re only looking to use a secure and trusted Canadian exchange the you can’t go wrong with Bitbuy. Visit their official website for more information and claim free $20.

To make a purchase, click BTC-CAD in the top-left and then you will see a drop-down with a search bar. You can also view all of the trading pairs available. Our concerns are unique and mine was based on the fact that I am new to crypto. I was not happy about the fact that no one was responding to my requests. However, I got a response the following day with an explanation why the process was taking long.

  • Bitbuy does not support funding by credit card – similar to other Canadian platforms including Shakepay and Newton.
  • Pls spread this message across to save your friends and family in their crypto journey.
  • The Bitbuy exchange offers a concierge OTC service for those looking to conduct high-volume trades without slippage.
  • If you answer that you have zero risk tolerance and not much income, it’s possible Bitbuy will not let you open an account.

It is a large-scale concierge service for high-volume traders and institutional investors placing orders of $50,000+. For a set fee, traders can avoid slippage and get live quotes on large crypto amounts. Despite operating as a centralized cryptocurrency exchange, Bitbuy leverages advanced technology to secure user funds. The platform provides a highly transparent fee schedule and doesn’t include fees in digital currency market prices — fees are always separate. However, if you’re looking for more trading options, the company has come out with Bitbuy Pro Trade, which is a platform made available for more advanced users. The best part about it, you don’t need an account to see what it looks like.

Bitbuy has slightly more “excellent” reviews on Trustpilot than “bad” reviews, so most customers are happy with Bitbuy. Reached out using the support email with a general question and received a personalized response instantly. However, as it was a general question about their coins, the response was most likely an auto-generated reply. A response to a support ticket would likely take longer. Bitbuy’s trading platform has everything you would need to trade in an attractive color scheme, which you have the option to change.

Unfortunately, the card isn’t available to Canadian users at this time. The platform also offers a stock exchange, which means you can buy, sell, or trade stocks whenever you want and then switch over to do the same with your crypto. When you’re ready to buy any of the cryptocurrencies that Bitbuy supports, the quickest way to do so is through fiat currency. Safe Storage – 95% of user funds are stored in cold wallets and is covered by a comprehensive insurance policy through BitGo Trust Company.

In hind site, I am forever grateful for the steps they took to save me from loosing a lot of money. Hi Gisele, I’m truly sorry to hear about this experience. This is not the customer experience that we want our users to have. I have reached out to you directly via the open support thread for more details regarding this ongoing issue.

account to coinbase

For wire transfers, the minimum limit is $20,000 and the maximum limit is $500,000. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians.

WonderFi clears regulatory hurdles, set to close acquisition of … – BetaKit – Canadian Startup News

WonderFi clears regulatory hurdles, set to close acquisition of ….

Posted: Thu, 24 Mar 2022 07:00:00 GMT [source]

You can look at data in specific time frames and through particular indicators. Trade histories are also visible on the Pro Trade page. Pro Trade users also have access to market trading histories. You can see a transparent fees summary for all transactions. BitBuy is one of the most popular crypto exchanges in Canada.