We advocate for you to do your own research and make educated financial decisions. Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing. The mobile app is available for both iOS and Android devices, offering seamless trading and portfolio management wherever you go.
The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. The company is fully transparent with its holdings and regularly updates its ‘proof of reserves’ report with the number of funds held in cold storage. The Bitbuy mobile app is suitable for performing quick trades while on the go, but its lack of charting tools and trading pairs hinders its performance significantly.
Rewards rates and eligible coins are shown in the platform, and staked funds are generally subject to a lock-up or unstaking period as specified per asset. Bitbuy does offer staking for select cryptocurrencies, primarily well-established proof-of-stake assets. Users must use external providers, meaning Bitbuy does not charge or collect any specific staking or lending service fees. External costs for network validators or early withdrawal will depend on third-party providers, and users should review those terms carefully. 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.
Bitbuy prioritizes security by implementing powerful security measures to safeguard user assets. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. Once again, people who are interested in buying the most mainstream coins should find Bitbuy more than enough. However, if you’re looking for a platform that gives you more possibilities, then there are other options that you should take into account.
Insurance on funds
At Bitbuy, coins are held offline in a cold storage wallet, ensuring maximum protection. In addition to its security, Bitbuy’s crypto exchange features remain accessible and convenient. An intuitive user interface is essential, especially for beginner crypto investors. You want a crypto trading platform that’s simple to navigate and understand. A poor interface may confuse you about where to click or how to trade, which can be frustrating when you are learning about crypto. The more features a crypto exchange has, the more complex the interface becomes.
Bitbuy offers two ways to deposit Canadian dollars; bank wire transfer and Interac e-Transfer. While withdrawals will incur a 1.5% fee, no depositing costs exist. Toronto-based Bitbuy is the first registered crypto marketplace in Canada.
Its mobile app will enable users to trade on the bitbuy canada review go keeping up with their trading activities. Bitbuy was originally founded in 2016 to serve Canadian cryptocurrency traders and investors. Since then, it has evolved into one of Canada’s most prominent and trusted crypto trading platforms, with a focus on compliance and user security. The platform provides access to some stablecoins (notably USDC), which I consider essential for managing volatility and facilitating fast value transfer within the crypto ecosystem. However, only a handful of stablecoins is available, and there is currently no integration of DeFi tokens, staking, or lending programs.
- Bitbuy was originally founded in 2016 to serve Canadian cryptocurrency traders and investors.
- It offers trading indicators, analytical tools, real-time market data, price notification updates, and the ability to customize trading interfaces.
- The same minimum and maximum limits apply to withdrawals with a 1.5% fee on Interac e-Transfer withdrawals and a 1% fee on withdrawal via bank wire.
- Many crypto exchanges carry these stablecoins in their portfolio.
- Cold storage protects your crypto coins with premium security measures.
Relatively Low Fees
All things considered, it’s for you to decide whether Bitbuy crypto exchange is exactly what you’re looking for. However, if you live in Canada, you should definitely check this platform out. Even though not all of them offer such an impressive number of digital currencies to choose from, it’s way more than Bitbuy provides.
- The platform’s variety of cryptocurrencies allows crypto enthusiasts to trade digital assets as they please.
- On deposits and withdrawals, there is a $50 minimum deposit with Interac e-Transfer and a $10,000 maximum in a 24-hour period.
- Eighty-nine per cent of Bitcoins have been issued, and 900 new Bitcoins are produced every day.
- However, if you’re on the hunt for advanced features, like drawing and analysis tools, Bitbuy’s Pro Trade platform could be ideal.
- Yes, Bitbuy operates a referral program where both you and your referred friend can receive a bonus after completing qualifying actions, such as account verification and an initial trade.
- On Aug 22 I was informed that the cash transfer to my bank failed and to re-enter my banking info.
The transformation from InstaBT into Bitbuy signifies not only the expansion of the service but also the confidence its customers place in it. Now it’s time to check your email address, you should have received a letter from Bitbuy. If it’s not there, you should click “Resend Verification Email”. Furthermore, Bitbuy is registered by FINTRAC as a Money Services Business (MSB). Before beginning to work in Canada, every MSB business has to be registered by FINTRAC.
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A spread is the difference between the purchasing price and sale price of an asset and can be thought of as a markup. A spread fee is usually only apply to instant purchases and not the spot market. If a platform advertises zero fee trading then beware that they may charge a spread instead. Bitbuy supports over 61 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and TRON, which are in the top 20 cryptos by market cap. Yes, Bitbuy has a dedicated customer support team that can assist users with inquiries and issues.
I’m still not allowed to withdraw…
The platform feels refreshingly straightforward, whether I’m using the mobile app or the desktop version. Buying and selling crypto takes just a few clicks, with clear instructions and an uncluttered interface. Switching between Express and Pro modes is easy, letting me pick the level of detail I want for my trades. They also boast features like auto dollar-cost averaging and handy portfolio tracking tools.
For liquidity providers, the maker and taker fees are also 0.1% and 0.2% respectively if you have accumulated under $1.5m CAD in total maker fees paid in the previous 12 month period. If you exceed $1.5m CAD, there is no maker fee and a 0.1% taker fee. The exchange is also registered as an MSB under FINTRAC the Canadian financial regulator. In December 2021 the exchange became the first cryptocurrency marketplace in Canada to be registered by the Ontario Securities Commission. They are also currently the only Canadian platform listed on Coinmarketcap. The owner(s) of this website may be compensated to provide opinions on products, services, websites and various other topics.
Navigate to the ‘Express Trade’ section of your account
Bitbuy’s fees are amongst the cheapest in Canada for high volume traders due to its tiered trading fee structure. Your fee tier is based on your total trading volume over last 90 day period calculated at the end of the month, and will apply to the current month. Ensure your exchange allows you to invest in the crypto you want.
The most recent audit revealed that Bitbuy surpassed its cold storage policy by attaining an average of 98.12%. For trades of more than $50,000, you can utilize the Bitbuy OTC trading desk. Here you will have your own dedicated account manager and OTC desk trader to assist and support you where needed. There is a corporate option if you wish to trade under a company account, and the Bitbuy API is available for those looking to automate trading and make repeat purchases. If you are a Bitbuy ProTrade user or using an API client to trade, then there is a 0.1% maker fee along with a 0.2% taker fee.
Bitbuy Express
In contrast, the Bitbuy Pro Trade Platform caters to customers who want to perform analysis and trade crypto more seriously. Bitbuy, which launched in 2016, is the go-to exchange for Canadians who want to buy and sell crypto with confidence. Known for its strong regulatory compliance, robust security, and user-friendly experience, the exchange makes trading digital assets simple and safe.