This variety provides you with flexibility when choosing which assets to trade. Once you fund your account, you email Bitbuy’s OTC support team at email protected to start the process.This feature isn’t useful for everyday traders investing under $50,000 in crypto. But it’s still a nice feature to have and shows how Bitbuy caters to beginner and serious crypto investors alike. This exchange offers numerous trading features, and with a quick onboarding process and high trading limits, Bitbuy is ideal for new and experienced crypto investors alike.
API trading
Bitbuy is also registered as a Money Service Business by FINTRAC and as a restricted dealer/marketplace with OSC. Both CAD deposits and withdrawals are completely free on Shakepay. Bitbuy and Newton are very similar in terms of features that they offer to their users. However, there are some differences between them which make one platform better than the other.
Bitbuy is a cryptocurrency exchange that allows users to buy, sell, and trade the most popular cryptocurrencies. The site is easy to use and offers plenty of features to keep user assets safe. Bitbuy is a fantastic cryptocurrency exchange for Canadians, particularly beginners. It is so easy to buy and sell crypto with Canadian Dollars using Bitbuy’s Express Trade feature.
- This allows professional traders to lower costs and optimize their profits on Bitbuy.
- The Express platform offers a simple, user-friendly interface, making it easy to buy crypto in just a few minutes.
- Bitbuy offers wallet services to help store your cryptocurrency coins.
- As an experienced trader looking to save time and optimize your trading strategy, the Bitbuy API is your solution!
- This Bitbuy review will focus on what this crypto exchange has to offer and how it compares with other platforms.
Bitbuy offers various services, including Express Trade for beginners, Pro Trade for advanced users, staking opportunities, and corporate solutions. Also note that your phone number must be a North American number and that Bitbuy sends a SMS verification message. 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.
Deposit Methods
Rates are decent and it doesn’t feel scammy like some others I’ve seen. Bitbuy’s Pro Trade feature is really useful once you get the hang of it. I like seeing the order book and doing limit trades, feels more in control. Trading pairs are on the left side, with a search bar making it simple to find a specific asset or quickly compare several pairs to locate the best opportunity.
Both of these platforms have been around for a long time, are fully regulated by FINTRAC and have a great selection of coins to trade with. First, the number of coins supported by Bitbuy is limited compared to the ones offered by NDAX. Bitbuy supports just 53 cryptocurrencies while NDAX supports up to 32+ cryptocurrencies. If you withdraw CAD from your Bitbuy account, there is a 1.50% fee when withdrawing via Interac e-Transfer. There is also a fiat Withdrawal fee of 1.50% if you withdraw via wire transfer. The exchange offers the ability to trade several different cryptocurrencies, such as Bitcoin and Ethereum.
All in all, Bitbuy really deserves the title of Canada’s leading crypto trading platform. Wire transfers take 3-5 business days, while crypto transactions vary depending on the network congestion. Bitbuy offers a referral program where, for each friend you refer to the platform, you both get $20 after your referred friend makes a $250 deposit. It’s available through the Google Play Store and the Apple App Store. Although it’s designed for smaller screens, it’s as feature-rich as the desktop version and lets you trade cryptos with the push of a button. The site currently supports 25+ cryptos, although that includes all the most popular coins out there.
- Staking through the platform earns each user up to 5.71% and there’s also a handy calculator app to help you approximate your potential earnings.
- There are plenty within the crypto industry who believe that security is the most important feature of any exchange or platform.
- Mandatory ID, selfie, proof of address, instant or manual verification.
- If you’re unfamiliar with trading, you might be wondering what maker and taker mean.
- This established crypto exchange offers unprecedented security, easy navigation, and low trading fees.
- The exchange also offers a mobile application, a built-in wallet, and plenty of security features.
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Bitbuy provides Canadian users access to the Cryptocurrency market with spread markups ranging from 0.50% to 1.85% and no additional costs for OTC trading. Bitbuy, as a regulated Money Services Business (MSB) in Canada, requires all users to be 18 or older and complete a full KYC (Know Your Customer) process to ensure compliance with FINTRAC regulations. The sign-up is secure and identity-focused, ensuring platform integrity. However, Bitbuy customer reviews on Trustpilot and forums like Reddit are generally quite positive and cite timely customer support.
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A secure crypto wallet is the best way to keep crypto safe and protected. You will need to move your coins off the exchange and transfer them into your crypto wallet. In the interim, ensure the crypto exchange platform offers the best cold storage account security. Cold storage protects your crypto coins with premium bitbuy canada review security measures.
Comparing Bitbuy to Other Leading Crypto Exchanges
Nowadays, there are dedicated crypto exchanges and platforms where you can quickly – and safely! – trade all the popular crypto coins, or even stake them and earn more over time. The two platforms offer similar services to their users such as buying and selling digital currencies, trading digital assets, and more. The mobile app gives users all the features they have on the web version of the site, which includes transferring CAD or crypto or buying and selling your favourite digital assets. With its advanced trading platform, Bitbuy Pro, and its easy-to-use Bitbuy Express, traders of all levels can easily buy and sell a wide range of digital assets. The platform’s security measures are top-notch, and the fact that it is registered with FINTRAC, OSC, and CSA ensures transparency and more security.
Bitbuy caters to a wide range of investors by providing two trading experiences. For beginners, it offers an intuitive Express Trade platform for easy fiat-to-crypto exchanges. Meanwhile, seasoned traders can leverage the advanced Pro Trade platform, which features complex order options. Bitbuy is a fully regulated Canadian cryptocurrency exchange that lets users buy and sell crypto with CAD. While the platform is beginner-friendly, it lacks features meaning it’s unlikely to appeal to traders looking for advanced tools. Moreover, they have increased the trading fees from 1.5% to 2% in the last 12 months which drastically reduces Bitbuy’s appeal.
Ensure the platform you choose is registered, fully licensed to operate, and has legitimacy. The Canadian crypto exchange must ensure your investments are safe and registered. Whether you’re a seasoned or just a beginner trader, Bitbuy can help you take the next step towards buying and selling your cryptocurrencies.
Be sure to enter all the required information, including the security question and its answer, to ensure the transfer goes through smoothly. You’ll then be shown all the necessary details to complete the transfer. Lastly, Bitbuy’s Proof of Reserves Audit released in July 2021 shows that they exceeded their cold storage policy with an average of 98.12%, further demonstrating their commitment to security. For added security, you can set up two-factor authentication on your account. If you sign in from a new device or browser, Bitbuy requires you to verify the login via email and also enter a code sent to your phone, which prevents unauthorized access. 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.
There are 412 comments on the Bitbuy TrustPilot profile, resulting in a bad 1.6/5 score. Bitbuy offers a wide range of products with different fee structures. For example, it charges a spread markup of 0.5% – 1.85% on Express Trades.