Unfortunately, there is no live chat or phone support team, but you can speak to an automated chatbot to get sent in the right direction. Bitbuy is designed to be accessible to beginners and experienced traders alike. To achieve this, Bitbuy is divided into Express Trade (simple swaps) and Pro Trade (TradingView-powered), meaning users can access specific features without feeling overwhelmed. Additionally, all critical pages can be accessed via the header menu, making the site easy to navigate. Therefore, Bitbuy could be a good option for Canadian investors who want to stake their holdings but lack access to any dedicated platforms to do so. Bitbuy Pro Trade is an advanced trading platform offering features comparable to Binance.
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It is registered as a Money Service Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Depending on one’s experience level in the crypto market, Bitbuy offers customizable trading solutions to suit individual requirements. Bitbuy’s support is typically held in high esteem, yet there is room for improvement. Several clients have pointed out that incorporating more immediate assistance could increase the overall quality of service provided to users.
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Limited Number of Cryptocurrencies
Fiat deposits and withdrawals also attract processing fees which vary depending on the amount transacted and the payment method used. The Express trade feature supports local Canadian dollars through which the transactions are settled. The service is advantageous as it involves fewer steps to buy or sell digital assets compared to using the pro service. Bitbuy enables its users to buy and sell any of the supported cryptocurrencies directly to and from the bitbuy review platform without having to interact with the sophisticated pro trading interface. Moreover, mobile cryptocurrency trading is not for everyone.
- This order flow can also complement the technical analysis that you are doing on the charts.
- However, if you’re on the hunt for advanced features, like drawing and analysis tools, Bitbuy’s Pro Trade platform could be ideal.
- With many exchanges, like KuCoin and ByBit, offering zero-fee crypto trading, Bitbuy is one of the more expensive options on the market.
- A trading API (application programming interface) is a channel through which a user can access their trading accounts remotely through a bot or third-party software.
- Sign in to your financial institution or online banking platform and complete the transaction.
Supported Fiat Currency and Deposit Methods
After account and user verification steps are complete everything goes well. As with most currency platforms the user has to make informed decisions as to what trades to make in order to stay profitable. 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.
Express Trade best suits beginners wishing to purchase or sell crypto for CAD. The interface is straightforward, with no charts or analysis tools. However, you can view the price of an asset in CAD and its 24-hour price movements, providing some indication of its performance.
- Instead, you must sell an asset for CAD, which will trigger a taxable event.
- Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
- The exchange caters to novice and advanced traders by providing an experience that balances simplicity and complexity.
- Bitbuy stands out among many exchanges with its varied services and dependability.
- Bitbuy enables its corporate customers to keep Bitcoin within their balance sheets by buying and holding the asset within their hosted wallet.
How does Bitbuy earn money (trading fees, spreads, commissions)?
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. Overall, there are over 60 different coins for you to choose from.
They provide crypto tools you need to buy, sell, and manage your crypto within a secure, Canadian-regulated environment. Bitbuy provides a platform to buy, sell, and hold cryptocurrencies, and it includes wallet functionality for users to store their digital assets. However, it is primarily an exchange service rather than a standalone crypto wallet. Its mobile app will enable users to trade on the go keeping up with their trading activities.
Bitbuy offers an intuitive and responsive mobile application for users to buy and sell crypto markets anytime and anywhere. The Bitbuy app currently has an average rating of 4.6/5 based on over 6,500 reviews and is available for download on IOS/Android devices. However, the user must set their app store region to Canada to be able to download and access the app. 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. Bitbuy is a Canadian-owned and operated cryptocurrency exchange established in 2016 to provide a reliable, convenient, and secure way to buy Bitcoin and other digital assets.
For users with slightly more experience than Pro Trade will be best. Those who want to take advantage of lower fees, crypto-to-crypto pairs and advanced functionality such as limit orders than Pro is the way to go. I bought crypto currency from them after that they blocked my account , I was compliant and answered all questions they asked (they did not answer mine). I did nothing wrong , still they are holding my funds ( and use them too , I think this is your end game after all ). This used to be an excellent Canadian exchange but is now complete and total garbage.
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When it comes to withdrawal of cryptocurrencies, Bitbuy says that these are free. They are still likely to apply a network or miner fee to your transaction so you should keep that in mind. These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits. As the exchange progressed, they decided to re-brand to Bitbuy and included a number of other cryptocurrencies on the platform. However, Bitbuy wanted to expand their offering dramatically and accepted an investment from a private equity firm in 2018. Before finishing this Bitbuy review, there’s a final thing to remember.