If you want an honest look at Bitbuy’s actual pros and cons, measured against other options in the Canadian market, these insights are from someone who’s tested it for themselves. To give you a fair perspective, I compared Bitbuy side by side with other regulated crypto and CFD platforms in Canada. This helped me highlight where Bitbuy stands out in terms of transparency, reliability, and platform quality, and where it still has room to improve. For those of you who appreciate multiple funding options, especially free ones like eTransfer or Wire Transfer, you’ll find Bitbuy to be quite accommodating.
all the way worst company ever…
We are aware that Bitbuy is making quite a few changes to their platform and technology as a result of their VC funding. Hence, we will eagerly await to see if these points have been addressed. So, all in all, a nifty piece of technology which could help Bitbuy secure the lucrative high skilled trader niche.
We will also gather the opinions of the Canadian crypto community on their experience with Bitbuy. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. This feature is created for big trades ($50,000 in CAD or equivalent BTC or ETH). It allows you to work directly with one of Bitbuy’s experienced traders.
Bitbuy does offer staking for select cryptocurrencies, primarily well-established proof-of-stake assets. Bitbuy’s focus on spot trading makes it straightforward and accessible for users prioritizing simple buy-and-hold or periodic trading. One significant limitation is the absence of advanced products such as crypto derivatives, margin trading, and cryptos as CFDs, which are increasingly popular in other markets. Finally they gime me 5 days to retired my bitcoin, not by transferring it to my cold wallet no, they force you to buy Canadian $ and then send it back to bank account.
Navigate to the ‘Accounts’ section of your account
Bitbuy has two trading platforms on offer at their exchange. All you have to do is head on over to your “Wallet” section. You will select the coin in question and you will hit “Deposit”. This will populate the wallet box with the deposit address where you should send the crypto.
Bitbuy Review 2025: Secure Crypto Trading for Canadians
The reason for this is Bitbuy’s commitment to certifications and compliance with regulations and insurers. 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.
They do not follow their stated timeline for staking and unstaking. Makes it extremely difficult to plan moves and ends up costing you a lot of time and money. Apparently they changed the process without any regard for their customers. Definitely left a sour taste and actively looking to move assets away from deceitful company wonderfi.
How to Invest in Shiba Inu (SHIB) in Canada
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. An API allows developers to gather information from Bitbuy’s servers as well as send automated commands to the exchange. No automation software is available for users who do not use the API. Vit and Mohib took great care of me, my 2 accounts, my dad’s account and friends account. Please note that for security reasons, certain areas outside of Canada are blocked from accessing the Bitbuy platform.
- I wanted to use a regulated exchange here in Canada and the choice is limited, these seemed decent.
- Yes, it is perfectly legal to purchase Bitcoin in most parts of the world.
- This could also be a great solution for those users who command a strong following online.
- Probably the most popular Canadian cryptocurrency community that one can find is the Canadian Bitcoin subreddit at /r/BitcoinCA.
- This is because Bitbuy uses Tradingview charting technology.
- The markup was quite low at just 0.16% above BTC’s live market price.
These include the likes of Cardano and Polkadot, which have become exceedingly popular in 2021. It was exciting to see that they are planning on adding AAVE and LINK in the near future and hopefully that will be the start of a trend that sees many more coins added in the coming months. Overall, we found that the community was quite positive on Bitbuy.
- We checked the spreads on the rate that we were getting from Bitbuy and the live market rate.
- Overall, Bitbuy is an accessible exchange offering tools for novice and advanced trades.
- I had no problems when it was coin berry but now.DO NOT use this company.
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 says that they operate a policy of 95% cold storage of coins. This is the standard among cryptocurrency exchanges and protects the bulk of user’s assets from hackers. Its mobile app will enable users to trade on the go keeping up with their trading activities. 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.
Is Bitbuy a wallet?
So far, the platform has not reported any major security incident, which has become a testament to its focus on providing secure crypto brokerage, trading, and wallet services. The former is ideal for transacting relatively small amounts (less than CAD 20,000), while the latter is appropriate for higher amounts. The platform charges a 1.5% commission fee on e-transfers for withdrawing and depositing money into and out of an account.
Join the 1,500+ businesses that trust Bitbuy Corporate Solutions to add crypto to their balance sheet. Yes, Bitbuy is a regulated exchange in Canada and complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. May 2023 – Bitbuy has launched Institutional Staking by Bitbuy Private Wealth! Simply speak to an account manager to get started and maximize your rewards.
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 bitbuy review it even easier by providing you with automated sign-up and onboarding processes.
Established in 2016, Bitbuy is one of Canada’s oldest and most trusted platforms for BTC, ETH and other cryptocurrencies. Click on the Submit button to finish the ID verification process. The exchange is run and operated by Bitbuy Technologies Inc., a division of crypto investment company First Ledger Corp. In January 2022, WonderFi, a Vancouver-based technology company that is publicly listed on the NEO Exchange, bought out First Ledger Corp to gain exclusive rights over the operations of Bitbuy. While we cover a range of products, our comparison may not include every product or provider in the market.
There was not really any discrepancy which means that Bitbuy was indeed being honest in their pricing of the coins. The quickest of these is probably through the use of their instant verification option. You can buy Bitcoin, Bitcoin Cash, Litecoin, Ethereum, EOS, Stellar Lumens and Ripple. The primary operation of First Ledger Corporation is the Bitbuy exchange although they do offer other solutions.
