We are new to the platform/trading world of cryptocurrency. We have used other platforms but Bitbuy is by far the most user friendly and simple to use. Our contact, Vit, has been very responsive, helpful, and an absolute pleasure to work with. I use 4 other wallets to get the smaller/higher Risk tokens and coins. Another Canadian exchange offering a variety of different cryptocurrencies. As the name suggests, Bitbuy Express is a feature that enables you to purchase cryptocurrencies easily and without friction.

When it comes to Bitbuy, I wouldn’t say that such a problem exists. Of course, it has a clear design and is easy to use but it also offers additional functionality. Bitbuy is considered to be one of the most popular and reliable crypto exchange platforms in Canada. However, to figure out how good it actually is, this Bitbuy review will cover such aspects as security, fees, available cryptocurrencies, functionality, including Bitbuy PRO, and even more. Arthur invests in the stock market but doesn’t pay any fees because he uses National Bank Direct Brokerage online broker and Wealthsimple’s robo-advisor.

Deposit and withdrawal methods

Bitbuy offers a slew of products and features that are desirable to all kinds of crypto traders, from beginners to advanced users. Bitbuy is one of the leading cryptocurrency exchanges in Canada, founded in June 2016 by Adam Goldman. Its company headquarters are based in Toronto, Ontario, Canada, and currently serves more than 400,000 Canadians with support for 15 cryptocurrencies. Welcome to one of the best Canadian cryptocurrency trading platforms.

That includes algorithmic traders, developers, institutions, and so on. Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet. Bitbuy is one of the few Canadian crypto exchange platforms where you can use to buy, sell or deposit cryptocurrency. Founded in 2013 as InstaBT, the company decided to rebrand as Bitbuy three years later.

If you’re serious about trading cryptocurrency, you’ll want to have a Bitbuy account to do so. They’ve created a new username feature, resulting in a more streamlined login process. They’ve made the sign-up and onboarding process entirely automated, resulting in you trading crypto faster.

Even though it’s quite low compared to some of the industry giants, it’s crucial to remember that Bitbuy is a Canadian-only crypto exchange platform. Bitbuy openly displays a fee summary for all transactions https://broker-review.org/ with no hidden costs. Many cryptocurrency platforms claim to have low or zero fees, but charge hidden fees on transactions. Bitbuy seems to be more transparent with the fee structure.

Overall, Bitbuy is the best crypto trading platform in Canada

It is easy to use, so it’s perfect for beginners with limited experience with cryptocurrencies. We like the fact that they have a responsive customer support desk, however it was disappointing to learn that they no longer answer requests via telephone. We also thought that their verification and KYC times were some of the lowest in Canada. You also have users who found their customer service greatly helpful and others who found that their verification times in the January 2018 Bull run were some of the fastest. While we like to do thorough reviews, it’s sometimes hard to get a full picture of an exchange or service without having used it for an extended period of time.

To make a deposit, go to your account dashboard and hit the “deposit” button. Bitbuy does, however, offer corporate accounts for businesses with dedicated account managers. In addition, in the latest Proof of Reserves Audit that was bitbuy canada review released on July 2021, BitBuy surpassed their cold storage policy for an average of 98.12%. If you sign in using a new device or browser, Bitbuy will ask you to verify the login via email, and then text you a code to enter as well.

• Newton, on the other hand finishes the process in 5-30 minutes and Shakepay gets it done almost instantly.
• So, whether you want to learn about Bitget copy trading, crypto trends, or blockchain basics, you’ll find enough articles, guides, and videos to equip yourself with the knowledge you need.
• As a transparent and regulated exchange in Canada, Bitbuy is a secure service for your cryptocurrency activities.
• 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.
• Something else that we really liked about this platform is the fact that it has “break-out” screens.

Calculations in comparison tables will vary based on personal data input. At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff. Bitbuy does indeed offer a wallet service, which will enable you to store cryptocurrencies. Provides an easy-to-understand user interface and a safe way through which to buy cryptocurrencies.

Very fast in providing support needed

The content on this site is for informational and educational purposes only and is not intended as a substitute for professional financial advice. Always consult a licensed financial expert before making any decisions based on the information you read on this blog. This time I tried to fund the account but could only put $3000 in due to transaction limits. I received a page saying upgrade free to gold to increase limits so I thought why not and did it.

That protects users from being impersonated or scammed in the future. Passionate about personal finance and financial technology, Arthur Dubois is a writer and SEO specialist at Hardbacon. Since his arrival in Canada, he’s built his credit score from nothing. Get home insurance in 5 minutes for as little as $12/month. Best of all, Hardbacon users receive a $20 account credit when they choose Square One. Bitbuy supports seven cryptocurrencies, compared to Shakepay, which currently supports two.

Wallets and Security

I withdrew almost $100 worth of Bitcoin to a hardware crypto wallet. I deposited $100 via Interac e-transfer to Bitbuy and it took just seven minutes for it to arrive in my account, which is the fastest I’ve seen. After you have had your account verified you will need to complete a risk profile. Finally, you’ll need to upload a financial document such as a bank statement and a utility bill such as an internet bill.

Hence, we sometimes like to get the perspective from other users on the platform. There are also a host of other features that they have packed into this advanced trading platform. For example, you have a great deal more charting functionality than you have on the Express Trade.

We’ve already gone through some of the features of this platform and concluded that easy, near-instant trading is definitely one of the reasons why Bitbuy has gained such traction. However, the platform has tools and features that make it stand above the rest, as well. Depending on your trading experience and whether you’re looking for a quick trade or deeper research, you can choose either the Express or Pro trade route.

Most retail traders will pay 1.50% since they will be trading less than $250,000 worth of cryptocurrency. The Bitbuy cryptocurrency platform caters to both beginners and experienced investors. Newbies can place one-click trades using its “Express Trade” platform, while expert traders can access advanced charting and multiple order types using its “Pro Trade” platform.

That’s why we found it disappointing that Bitbuy has removed the ability to contact their customer support team via telephone and via online chat. Currently the Contact page on the website and the support article regarding contacting Bitbuy only states that they can be contacted via email at . In May 2020 Bitbuy partnered with Knox to offer fully-insured cold storage of Bitcoin holdings for all Bitbuy users.