We verified that the phone number for contacting support no longer works, although there is a message there stating that Bitbuy is working on a new customer support system to better serve clients. I suppose we’ll have to wait and see if that includes a new phone contact or online chat feature. The move was made by Bitbuy as part of their commitment bitbuy review to best practices in the cryptocurrency exchange industry while awaiting greater regulatory clarity in Canada. While exchange security is a priority, the user is often the weakest link when it comes to crypto theft. Therefore, Bitbuy has instituted the best practices in user protection on their systems.
Businesses
The documentation is detailed and access is straightforward for developers, although the range of order types and advanced algorithms is more basic than on leading global platforms. Still, for Canadian accounts seeking secure and compliant automated trading, Bitbuy’s API provides all key essentials. Bitbuy applies clear and competitive trading fees for crypto transactions.
How to buy crypto on Bitbuy?
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. They provide crypto tools you need to buy, sell, and manage your crypto within a secure, Canadian-regulated environment.
- These fees are actually quite reasonable and are below the rates that are charged by some of the other Canadian exchanges.
- Bitbuy offers an exciting referral program that allows users to earn extra cash.
- Bitbuy supports buying and selling 24 cryptocurrency assets on the exchange.
- This is normal and Bitbuy needs to collect this information in order to comply with Canadian financial regulations.
- Switching between Express and Pro modes is easy, letting me pick the level of detail I want for my trades.
À propos de l’entreprise
Unfortunately, credit/debit card payments are unsupported, although crypto can be deposited to Bitbuy. For the more advanced traders out there, you will probably want to trade on Bitbuy’s more advanced trading platform. This is more like your typical exchange with customer order books matched with an exchange “matching engine”.
However, its high 2% transaction fee could eat into profits. So, unless you send Bitbuy some form of identity and proof of address you cannot use them. However, 90% of cryptocurrency exchanges these days have this requirement so it is not so much of a surprise.
Express will set you back a 0.2% fee for every CAD to crypto trade, and each sale will have a 0.2% fee per trade. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. After logging into the app, the user must register the device by entering a code sent to the email address linked to the account and then inputting an SMS code. After doing so, you will be shown a screen containing your balance and the list of assets available to buy and sell. On top of Bitbuy’s policy with BitGo (which includes crime coverage), the company has partnered with Coincover to 100% protect any operational funds stored in hot wallets. Additionally, all fiat funds managed by Bitbuy are secured by custodians with a Financial Insurence Bond, adding further protection.
Express Trade platform is a great option for beginners who are looking for an-easy-to use platform as well as clear navigation. It doesn’t provide any additional, unnecessary tools that would make your experience more confusing. Bitbuy offers fiat support, meaning that you’ll be able to purchase cryptocurrencies without much trouble. However, since the platform is created specifically for Canadians, it supports Canadian dollars only. Based on a variety of Bitbuy reviews, this shouldn’t cause any issues. If you decide to buy Bitcoin, Ethereum, or other cryptocurrencies, you should know that the easiest way to do that is using fiat money.
Bitbuy has been operating since 2016 and has never been hacked.Regulation. 90% of all crypto assets are held in cold storage for safekeeping. Bitbuy has a comprehensive insurance policy run through BitGo, a licenced digital asset custodian. Cash assets on Bitbuy are insured up to $1 million per account.Security audits. Bitbuy regularly conducts third-party financial audits, monthly security audits and transaction reporting audits.
What Cryptocurrencies Are Available on Bitbuy?
- In the submission form, provide a detailed explanation of your issue and provide an attachment if necessary.
- Of course we realize that mobile trading isn’t for everyone, and if you aren’t interested in the mobile app you’ll be glad to know their website appears to be well optimised for mobile.
- We update our data regularly, but information can change between updates.
- To give you a fair perspective, I compared Bitbuy side by side with other regulated crypto and CFD platforms in Canada.
- So, all in all, a nifty piece of technology which could help Bitbuy secure the lucrative high skilled trader niche.
OTC, or over-the-counter, transactions are private deals that are not registered on a public order book. Bitbuy is a relatively small exchange compared to the international players like Coinbase and Kraken. That means there’s less liquidity so very large trades can cause siginificant price swings.
Bitbuy Pro
Once KYC is complete, all Bitbuy features will be unlocked. Creating a Bitbuy account is a simple process that anyone can complete within a few minutes. Initially, you must input and confirm your email address and phone number. However, before it’s possible to trade or deposit on Bitbuy, any customer must complete Know-Your-Customer (KYC) verification.
They appear to be a relatively safe exchange and their fees are broadly in line with the rest of the market. While trading fees are slightly higher, their deposit and withdrawal fees make up for it. Many cryptocurrency exchanges have a reputation for having less than stellar customer support. Users often have to wait days before they get tickets answered or verifications completed. While this has improved recently, there is still much to be desired. Moreover, you’ll be able to fund, buy, sell and withdraw cryptocurrencies very fast and securely.
I was pleasantly surprised to see how many different funding options there are, and most of them are free. While Debit and Credit Cards are the quickest and most convenient, they are the most expensive way to fund your account, so I advise against using this method. Previously they were always so good with responding to customers. We are looking to lower our fees, but this can take some time to discuss and implement. Bitbuy has a built-in wallet in each user’s account that you can use to store your SHIB safe and securely. Bitbuy is a Canadian owned and operated digital currency platform.
It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck. So from the above it seems as if the most affordable method for you to fund your account is with a good old wire transfer. You are likely to get them on the exchange in about the same time as a standard Interac funding will take. 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. The first fully-regulated cryptocurrency exchange in Canada.