However, with a high enough trading volume, users can reduce trading fees on Bitbuy to 0% (maker) and 0.1% (taker). Moreover, mobile cryptocurrency trading is not for everyone. Many of the applications that have been put out by other exchanges have paled in comparison to the efficiency trading on PC or web-based interface. 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”.
Making a Purchase with Pro Trade
Hopefully we can see another altcoin in their offering soon. They have promised AAVE and LINK are coming soon, so it does look like the number of choices is improving. 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.
I have sent documents, photos, statements, everything they requested. They have now been asking me to explain my withdrawals, I keep explaining I have not been able to make any withdrawals and they just do not get it. I had no problems when it was coin berry but now.DO NOT use this company. 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.
- There are a lot of features of Bitbuy that make it popular amongst Canadians, and I have outlined the main advantages below.
- I am here to attest to the team’s patience and persistence to help me solve my issue.
- Always confirm important product information with the relevant provider and read the relevant disclosure documents and terms and conditions before making a decision.
- The exchange is run and operated by Bitbuy Technologies Inc., a division of crypto investment company First Ledger Corp.
- Now, if you’re interested in less popular tokens, this might be an issue.
Took my XRP zero customer service for hours
Spreads are generally tight on major pairs, but I have observed they widen during peak volatility, a common scenario across the industry. Bitbuy implements robust risk management measures, including mandatory two-factor authentication, withdrawal whitelists, and anti-phishing controls. Publicly available proof-of-reserves reporting would further enhance transparency, but the current practices align with best standards in the Canadian crypto sector. Bitbuy enjoys a positive reputation, with strong user reviews and no history of major security incidents, making it, in my view, one of the most reliable options for Canadian crypto investors. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets. Oleg is a Canadian citizen & crypto expert who has been trading since 2016.
- Also, if FIAT funding isn’t what you’re looking for, you can choose to fund your account with cryptocurrencies.
- Let’s find out what services Bitbuy offers, that make it the preferred exchange of 350,000+ Canadian crypto investors.
- While there’s a variety of different factors that you need to take into account when choosing a cryptocurrency exchange platform, one of them is considered to be the most important one.
stay away from this company
With products like Express Trade and Pro Trade, Bitbuy is able to offer services to everyone interested in purchasing their first Bitcoin. For much larger trades, Bitbuy also offers competitive rates for over the counter (OTC) trades along with a white glove service. This is where the Bitbuy team will be able to broker a deal between the buyer and seller directly rather than have someone execute a larger trade with multiple entities on the exchange. The Bitbuy team is proud to provide the best possible customer service for their customers. Users must submit more information than most other exchanges require to create an account, and KYC information is securely stored.Past hacks.
Review of the Top Features on Bitbuy
These rates are based on your trading over the last three months. The exchange’s core mission is to offer its fellow Canadians an easy, reliable, and safe avenue to Bitcoin and other cryptocurrencies, effectively demystifying the bitbuy canada review crypto trading process. As we embark on this review, we’ll delve into the features and offerings that have made Bitbuy a trusted choice for over 250,000 Canadian investors.
Bitbuy is registered with FINTRAC as a Money Services Provider, and their servers are secured across multiple world class cloud providers and disaster recovery locations. Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is safe from prying eyes. Some users who are unhappy with Bitbuy cite the increased “red tape” that has come with its regulatory compliance, particularly since becoming aligned with the Ontario Securities Commission.
Moreover, they have a new “username” feature for an even smoother experience, especially when it comes to logging in. Overall, there are over 60 different coins for you to choose from. Now, if you’re interested in less popular tokens, this might be an issue.
They also have very high standards for legal compliance and operational oversight. Bitbuy has great customer service, which is highly praised in the cryptocurrency industry. They have a phone line and quick email support, even on weekends.
the worst platform ever .
If you can corroborate financial information about yourself with this third party then you will be verified. If you have decided that you would like to try Bitbuy then you will need to create an account and complete their registration process. Sign in to your financial institution or online banking platform and complete the transaction. Now it’s time to check your email address, you should have received a letter from Bitbuy.
Before you proceed with this tutorial, it’s worth noting that only Canadian residents are allowed on the Bitbuy platform. If you do not live in Canada, there are other options that you may want to consider. Users looking to take advantage of its benefits need to contact Bitbuy’s customer support to request access.
If you’re looking for a secure and reputable Canadian exchange, Bitbuy is a solid choice. For more information and to claim your free $50, visit their official website. NDAX is also a good option which offers crypto staking for five cryptocurrencies. The fees will be clearly displayed during the process, so you’ll know exactly what you’re paying.
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. There is no charge for membership or account maintenance fees. Trading costs include a spread markup (0.5%–1.85%) for Express trades, 0.5% maker/taker fees for Pro Trade, no deposit fees, and 1.5% withdrawal fees for bank and wire transfers. Staking commission ranges from 25% to 30%, and crypto withdrawal fees vary by asset, so always confirm specifics before moving funds.
Steve has been writing for the financial markets for the past 7 years and during that time has developed a growing passion for cryptocurrencies. In summary, Bitbuy is a great exchange for Canadian users who are looking for the easiest way to get their hands on some cryptocurrency. Firstly, while Bitbuy supports most of the top cryptocoins, there are still a number of coins that we would have liked to see on their platform.