Moreover, you’ll be able to fund, buy, sell and withdraw cryptocurrencies very fast and securely. Also, you get all the needed features that allow you to track the currency market prices, your orders, view history, and so much more. That said if you decide to use the platform after reading this Bitbuy review, make sure to also get the mobile version as well. Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet. The main company’s goal was and still is to provide easy and secure access to Bitcoin and other popular cryptocurrencies.
Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. 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. The Bitbuy mobile app is suitable for performing quick trades while on the go, but its lack of charting tools and trading pairs hinders its performance significantly.
How to buy crypto on Bitbuy?
For larger trades or specialized needs, they also offer Private Wealth, OTC, and corporate accounts, with dedicated service for high-volume transactions and business clients. Everything is backed by intuitive wallet management, portfolio tracking, and seamless Canadian dollar funding and withdrawals. Bitbuy crypto exchange is a straightforward, easy-to-use platform available on both mobile and desktop, ideal for anyone looking to manage cryptocurrencies without hassle. bitbuy canada review You can buy, sell, stake, and hold more than 25 popular coins, as well as access both standard and advanced trading options.
Bitbuy Account and Verification Requirements
Due to its focus on simplicity, Express Trade is a good option for beginners looking to buy or sell cryptocurrency. Bitbuy has included a beginner-centric feature called Express Trade, enabling users to buy and sell crypto without hassle. While the Express Trade platform lacks analytical tools, its simplicity makes it excellent for new investors making their first foray into the crypto space. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. All things considered, it’s for you to decide whether Bitbuy crypto exchange is exactly what you’re looking for.
It offers a more complex interface with live charting, price movements, order books, and advanced order types, making it ideal for those who want to dig deeper into the market. Bitbuy’s app provides the same user-friendly experience as its Express platform, making it easy for beginners to navigate. The iOS app has a strong 4.6-star rating from 6,000 reviews, reflecting its smooth user experience. Yes, Bitbuy offers Over-The-Counter (OTC) trading for large crypto transactions. If you’re making a big trade, you’ll receive personalized service with an account manager and a custom trading fee quote. The minimum investment required to use the OTC Desk is $25,000, making it ideal for those looking to execute large-scale trades.
Despite this, Bitbuy is not a bad first exchange for Canadian investors but anyone looking for low fees or advanced features like leverage and automation tools must look elsewhere. Bitbuy caters to a wide range of investors by providing two trading experiences. For beginners, it offers an intuitive Express Trade platform for easy fiat-to-crypto exchanges. Meanwhile, seasoned traders can leverage the advanced Pro Trade platform, which features complex order options. In this review, we will look at Bitbuy, a popular Canada-based cryptocurrency exchange.
For any less common questions, Bitbuy has an email-based direct customer support line, allowing users to create a ticket to receive assistance via email. While a few users reported long wait times, most Bitbuy reviews agreed that the support offered by Bitbuy was effective and fast, as evidenced by our testing, in which we received a reply within 3 hours. Unfortunately, no advanced analysis or trading tools are available on the mobile app.
Bitbuy Express
Although Bitbuy Express Trade is great for beginners wishing to make their first purchase, there is no way to swap one crypto for another, which most exchanges offer. Instead, you must sell an asset for CAD, which will trigger a taxable event. Additionally, Express Trade’s fees are 2% per transaction, which makes it an expensive way of cashing out your crypto for CAD. In recent years, a trend called crypto staking, which enables users to earn passive rewards by locking their crypto holdings for a period of time, has become very popular.
Insurance
Our Website may link to external sites or content not controlled by us. Such links don’t imply our endorsement, and we aren’t liable for the content, products, or services of these third-party entities. His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential. At Crypto Head we use a rigorous research and rating process to assess each platform.
- There’s also a helpful web database of FAQs and help articles to guide you through account setup, funding, trading and more.
- Click on the Submit button to finish the ID verification process.
- The biggest drawback to using the Express Trade service, however, is the cost as it is significantly more expensive to buy or sell cryptocurrency this way than it is to use the Pro interface.
- A spread is the difference between the purchasing price and sale price of an asset and can be thought of as a markup.
Does Bitbuy Offer Staking or Other Services?
Since Bitbuy is fully regulated, anything suspicious can be flagged. Sometimes people who trade a larger than usual amount, or deposit more frequently than usual may have their funds put on hold while Bitbuy investigates. If this happens to you, you can contact the support team to get it resolved.
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. Its mobile app will enable users to trade on the go keeping up with their trading activities. Yes, Bitbuy has been known to freeze accounts or hold deposits and withdrawals.
Bitbuy supports staking for four assets; Ethereum, Solana, Polygon, and Polkadot. Before finishing this Bitbuy review, there’s a final thing to remember. If you take your security seriously and are thinking about buying cryptocurrencies, always make sure to also get a secure wallet for your assets. In case you don’t know where to start, check out Ledger Nano X and Trezor Model T first. If you’re into buying, selling and storing cryptocurrencies, one of the things that you should consider is the number of supported cryptocurrencies that the platform offers.
The True Cost of Trading on This Exchange
- This is part of the platform’s services to facilitate cryptocurrency transactions.
- Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is safe from prying eyes.
- Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before applying.
While Bitbuy is tailored for Canadian residents, you can still access it from abroad if you’re based outside of Canada. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
User Security Features
But in terms of the number of coins supported, Newton clearly outshines Bitbuy. They also charge a 0.20% fee for trades, which is applied to both buying and selling. Bitbuy’s crypto withdrawal fees are based on the type of currency. The following table shows some of the withdrawal fees for each cryptocurrency it supports. Bitbuy is one of Canada’s safest crypto exchange platforms, where you can buy and sell digital currencies. Bitbuy offers email support via You also have access to phone support.
Makers are parties that introduce liquidity to the marketplace while takers perform opposite actions. If you place a limit order to either buy or sell an asset, you are considered a maker, but if you execute a market order, then you are a taker. There is also a minimum trade value of CAD 25,000 on the Private Wealth desk, meaning that the service is specifically designed to facilitate large orders.