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Bitbuy is one of the most recommended cryptocurrency exchanges in Canada. That’s why the only fiat currency supported at the moment is CAD. When using the ‘Bitbuy PRO’ version, the fee for makers is 0.10% and for takers – 0.20%. When using the ‘Express Trade’ feature, you will only pay 0.20% for each instant trade.
They’re also the first crypto asset platform to be approved by the Ontario Securities Commission to act as a marketplace and restricted investment dealer. In addition, all the providers they work with are ISO, SOC and FIPS compliant. Full transparency with trading and withdrawal fees, as well as many great tools, make Bitbuy an easy recommendation. While, yes, you’ll only be able to use Canadian dollars, it’s still a fantastic platform for Canadians who want to either start investing in crypto or elevate their portfolios. Deposit and withdrawal times vary depending on the payment method.
While you can opt for the express Interac transfer, we are of the view that it not really worth the fees that are charged. It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck. A subsidiary of First Ledger Corporation, Bitbuy is a transparent company that does not appear to conceal information from customers. The release of a new pro-trade product was recently preceded by a proof of reserve and security audit. His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.
In the final verification screen, declare your exposure to political activities by marking either of the provided radio buttons. At this point, you can successfully log in to your Bitbuy account and start browsing it, but to perform any transactions, you will need to verify it. Once done, check the reCAPTCHA box and solve the human-test challenge then click the button. You will be redirected to the phone verification screen where you will enter the code you received on your phone.
Go to your online banking app and make an Interac e-Transfer. Bitbuy is only suitable for Canadian residents, but Canadians are able to access the trading platform outside of Canada. Click on the button to finish the ID verification process. The first step to creating a Bitbuy account is to visit the exchange’s website and begin the sign-up process.
Purchase top-rated Ledger products and get it shipped to you completely for FREE, wherever you are! Even though not all of them offer such an impressive number of digital currencies to choose from, it’s way more than Bitbuy provides. As you can see, Bitbuy’s fees depend on which deposit method you choose. However, they’re considered to be on par with the industry standard. Also, it’s fair to mention that if you use Bitbuy PRO, fees get lower. Storage or technical access is necessary to create user profiles in order to send advertisements, or to track the user across a website or multiple websites for similar marketing purposes.
Depending on your level of expertise, one will cater to you better than the other. Knowledgeable crypto enthusiasts that trade at a higher frequency or volume mostly automate their operations using an API. All you have to do is visit the Bitbuy website and click on the “Get started” button in the top-right corner. Furthermore, one of the newest features that Bitbuy Canada introduced is staking, so we’ll take a look at all three tools in this section and explain how each of them works.
It is fully regulated, has a secure platform that has never been hacked, and is suitable whether you’re a beginner or an experienced trader. Yes, Bitbuy offers Over-The-Counter trading for large crypto trades. You’ll get a personal account manager and a personal trading fee quote for your order.
Provide your cell phone number to activate and set up your account with two-factor authentication and enter the other personal information bitbuy canada review required. Hi Gisele, I’m truly sorry to hear about this experience. This is not the customer experience that we want our users to have.
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. Centralized cryptocurrency exchanges tend to be rather easy to use.
Bitbuy has to make sure that they are in compliance with all of Canada’s Anti Money Laundering and KYC regulations. Hence, they require all of their users to complete their mandatory verifications and KYC checks before they are allowed to buy coins. If you have decided that you would like to try Bitbuy then you will need to create an account and complete their registration process.
Luckily, it doesn’t require a separate account, so you can use it whenever you need a deeper insight into the crypto market. Of course, you won’t get locked out of the Express Trade tool if you go Pro. Only major cryptocurrencies are available to speculate and trade.
As per our conversation, you funded your account with a business account which is not permitted unless valid business documents are recieved. Bitbuy is very fast in providing support whenever needed.
On the other end, Pro trade is for professional crypto traders who tend to analyze the market before buying or selling a crypto asset. For this purpose, this exchange has partnered with TradingView to offer industry-grade charting tools for technical analysts. Availability of OTC Desk – Bitbuy also offers an OTC (Over-the-Counter) service for those interested in trading larger amounts than $20K.
They’ve added more 2FA options, so you can secure your account even more. The company partnered with Bitcoin security firm BitGo, which made Bitbuy the world’s first platform to keep the full value of its Bitcoin holdings insured. If you’re looking for more details on this partnership and what exactly is insured, Bitbuy has a great explanation and FAQ here.
I am disappointed with the duration that it took for my transfer to be accepted. I have never had issues with Bitbuy https://broker-review.org/ before, and really like the platform. I even promote it to friends, colleagues and new crypto investors.
It’s time to move to another part of this Bitbuy review – the cons of the platform. MSB includes foreign exchange dealing, money transferring, Issuing or redeeming money orders, traveler’s cheques, or anything similar, and of course, dealing in virtual currency. Use the HARDBACON promo code to get $20 when you open a free KOHO account and make a purchase. Step 5 -You will then need to verify your email ID and phone number and enter some personal information. Depositing funds on Bitbuy can take anywhere between 0 to 6 hours.
