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. Bitbuy offers Canadians the ability to deposit Canadian dollars into https://forex-review.net/ their fiat wallets via Interac e-Transfer or bank wire. You can also use a card via a third-party provider but there is a standard fee set at 6.25%. I had a potential problem and the support team led by Rebecca jumped on it and handled it perfectly.
- Hi Karolina, please know that we are a regulated money service business, and we do not close our customer accounts without a valid reason.
- It is known for its competitive trading fees and excellent customer support.
- When it comes to digital cryptocurrency deposit and withdrawal fees, they’re completely free.
- Lastly, all Bitbuy users can enable two-factor authentication on their accounts as an extra layer of security.
With 2FA, users have to take an extra step to access their accounts. If you want an exchange that focuses on security, CoinSmart might be the way to go, especially given the volatility of the crypto market. Customers can either send an email to the support team or chat with a live representative. If you’re unfamiliar with trading, you might be wondering what maker and taker mean. Buy and sell crypto with 400,000 other Canadians on Bitbuy, a Canadian-owned cryptocurrency platform. BitBuy scores 3.6 out of 5 stars from more than 250 reviews, which is actually quite high compared to other exchanges like Coinbase, which barely ranks 1.6 out of 5.
Note, this was before Bitbuy raised their trading fee to 2.00%. We recommend other platforms in Canada that are cheaper like NDAX, VirgoCX and Newton. BitDegree Learning Hub aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place.
Are There Any Fees?
They are still likely to apply a network or miner fee to your transaction so you should keep that in mind. While you can opt for the express Interac transfer, we are of the view that it not really worth the fees that are charged. It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck.
Trading fees
Bitbuy supports buying and selling 24 cryptocurrency assets on the exchange. However, the Pro Trade platform offers six additional trading pairs denominated in CAD and BTC, The tradable digital currencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and 20 others. Bitbuy’s overall mission is to simplify the trade of digital assets for all Canadians. It is a convenient Canadian cryptocurrency exchange offering over the counter (OTC), brokerage and advanced trading options. As for trading fees, you pay between 0% and 2% with both Express and Pro trading depending on your 90-day trading volume.
However, they’re considered to be on par with the industry standard. Also, it’s fair to mention that if you use Bitbuy PRO, fees get lower. Click on the [Submit] button to finish the ID verification process. Before you proceed with this tutorial, it’s worth noting that only Canadian residents are allowed on the Bitbuy platform. If you do not live in Canada, there are other options that you may want to consider. With the bank wire transfer, it is cheaper to deposit funds into Bitbuy than it is to withdraw at 0.5% and 1%, respectively.
Partnership with BitGo allows Bitbuy users to store their bitcoin holdings in an offline vault. Also, the insurance covers up to the full price of your assets. Bitbuy is very serious about security, so their built-in wallet is also one of the more reliable ones. One of the most exceptional aspects about it is that Bitbuy is the only one Canadian exchange that insure their users’ Bitcoins. What is more, when it comes to usability, Bitbuy makes it even easier by providing you with automated sign-up and onboarding processes. Moreover, they have a new “username” feature for an even smoother experience, especially when it comes to logging in.
Is Bitbuy safe?
Our company created an account for the first time and needed a little guidance. We had an outstanding representative who guided us and provided immediate responses during the set up. Hi Gisele, I’m truly sorry to hear about this experience.
Crypto Taxation in Canada in 2024: A Comprehensive Overview for Canadians
To qualify, you need a minimum of $50,000 CAD trades for Bitcoin and Ethereum and $20,000 CAD for any other coin. But if this is you, it’s worth contacting Bitbuy’s OTC desk to arrange a quick meeting and your enrollment in its OTC service. CultOfMoney.com strives to keep its information accurate and up to date. Bitbuy offers email support via You also have access to phone support. Bitbuy’s customer service reputation is excellent, with a consistently quick response time and knowledgeable staff.
Bitbuy is a Canadian cryptocurrency exchange that was founded in 2016. Specifically for Canadians, Bitbuy has both a beginner-friendly platform and a more advanced platform for experienced crypto investors. I signed up to Bitbuy and reviewed it to see if it’s worth using in 2024. I am having issue with my account and I am trying to reach the support last three days. I got no response, only things response is the bot, And it’s useless bot. However they will give you option of sending inquiry request, I have fill that up their time in past three days, and no one ever reply.
The site allows you to earn a passive income by buying a stake in some crypto. Currently, you can only do this for two Bitbuy coins – Ether (ETH) and Solana (SOL) – but the company plans to add support https://forex-review.net/bitbuy-crypto/ for Polygon, Polkadot, Cardano, and Cosmos in the near future. Pro Trade is Bitbuy’s advanced trading mode and a tool you’ll most likely switch to when you learn the crypto trading ropes.
Bitbuy Reviews
If you regularly invest in crypto, international exchanges like Binance are better on fees, and trading limits aren’t always low for new users. You can also use exchanges like Coinbase to keep your crypto investing simple.That said, if international and U.S.-focused exchanges aren’t working for you, give Bitbuy a try. There’s a reason it’s one of the most popular players in Canada, and the future is certainly bright for this cryptocurrency exchange.
With Canada having some of the world’s strictest crypto regulations, finding an exchange that supports CAD deposits can be challenging. One platform that has been gathering traction in the region is Bitbuy. But how does it compare to mainstream exchanges like Kraken and Binance? Throughout this Bitbuy review, we’ll be taking a detailed look at the exchange, exploring its features, security measures, and ease of use. Bitbuy offers a convenient streamlined service, it concentrates on fulfilling its mission rather than trying to deliver too many services. It makes buying and selling cryptocurrency simple for Canadians, with free insurance as well.
You’ll then need to provide a valid email address, which you’ll need to verify afterwards, and create a secure password. Bitbuy has been touted as Canada’s leading platform for crypto traders. So, in this Bitbuy review, we’ll explore what this site has in store and analyze whether it really is the best destination for Canadian crypto traders. 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. 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. Pro trade uses Tradingview software, providing in-depth charting for technical analysis.
Signing up to Bitbuy is quite a long process due to their compliance process. Hi Shakinoor, I see that we responded to you withdrawal request and were able to work with you to solve the ticket. They would automatically close your account for no reason. Luckily I had already withdrawn, imagine people with funds in their account and trying to log in and find out they close your account.
You can top up your account with cryptocurrency, wire transfer or Interac e-Transfer —a Canadian payments app. PayPal and similar digital payment services are not supported. Beginners will love Bitbuy while advanced traders may be frustrated by the limited tools and coin selection. Personally, I love it for CAD-crypto trading pairs, but this is a drawback of you’re looking for crypto-crypto swaps. If you’re into popular coins like Bitcoin, Ethereum, and Litecoin, Bitbuy has got you covered but lacks in more obscure altcoin listings.