Contents
Simple to use platform catering to both novice and experienced traders. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.
Whether you need this for your balance sheet is ultimately up to you, but the fact that Bitbuy has features for everyday Canadians and business owners alike is a plus. OTC crypto trading is popular for large trades where you want to get the best price possible and reduce the risk of market volatility by locking in your order price. For serious crypto traders, you can email to inquire about API access. Getting Bitbuy’s API lets you automate your trading, which is necessary if you’re an algorithmic trader or are building any sort of trading bot.
The process is straightforward, and you must go to the Wallet section, which will show you all the deposit addresses where you could send the cryptocurrency. Bitbuy’s mobile app and desktop platform make purchasing and depositing cryptocurrency very easy. Binaryx offers professional and non-professional traders the best experience.
Although a basic chart is available for all cryptos, no indicators or charting tools are available. Therefore, the Bitbuy app is only suitable for quick purchases, not performing detailed analysis. Anyone needing access to more advanced features can use the order book-based Pro Trade interface. Using the Pro platform, Traders can add technical indicators and overlay drawings to perform analysis on the charts.
For withdrawals, traders and investors are able to withdraw cryptos by transferring out from your Bitbuy wallet to another compatible wallet. Users who already own Bitbuy supported cryptos may transfer these https://broker-review.org/ to the compatible crypto wallets provided on the Bitbuy platform. Investors and traders are able to purchase cryptos by depositing Canadian Dollars via Interac e-Transfer or by Bank Wire Transfer.
Supported Crypto Assets and Trading Pairs
US users trading at FTX US need to do KYC procedures and likewise for Bitbuy for Canadians. Fees may be slightly more competitive at FTX as a trader’s volume is higher, since FTX offers both fee incentives for volume and for holders of its FTT token, though Bitbuy offers no incentives. FTX will win against Bitbuy for all intermediate or advanced traders, as FTX offers 323 coins and 492 trading pairs, which is far higher than Bitbuy’s ~15 coins offering. Ultimately, advanced users who desire both competitive fees and a greater selection of trading products than what either Bitbuy or Coinbase offer may find the choices below equally valuable.
But if you want more control over your orders and more market data, you need to use Pro Trading. Money transfers from a parent account to a child account are instant and free. And that’s something that not many other payment tools offer right now. Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer, and 1.50% fee using Wire transfer. It requires you to register and sign up on its official website.
You know you can trade safely on Bitbuy, as they routinely conduct financial audits, monthly security audits, and transaction reporting audits using trusted third parties. Bitbuy’s servers are secured across multiple world class cloud providers and disaster recovery locations. These are the top 3 reasons why I think Bitbuy is an excellent exchange, and a great choice for beginners to the crypto market. Another factor where Bitbuy stands out from most other crypto exchanges is its customer service offerings, which are known to be among the best in the industry. For instance, the platform offers 24X7 customer support to users for both simple and complex issues. Bitbuy’s mobile app has received excellent reviews, with a 4.6/5 rating on the App Store from 6,000+ reviews.
Highly Regulated
It means that you have to purchase them on the other platforms first and then transfer your coins to that specific platform that you want to continue using for trading. HedgewithCrypto 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. Bitbuy supports 25 cryptocurrency assets that can be bought and sold on the exchange.
Goldman founded Bitbuy to provide Canadians the most convenient, dependable, and secure way to access digital currencies. With multiple cryptocurrencies, the highest levels of security, convenient funding options, and superior customer service, Bitbuy is one of the leading exchanges for retail and professional investors. 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 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.
Before making financial investment decisions, do consult your financial advisor. All things considered, it’s for you to decide whether Bitbuy crypto exchange is exactly what you’re looking for. However, if you live in Canada, you should definitely check this platform out. Even though not all of them offer such an impressive number of digital currencies to choose from, it’s way more than Bitbuy provides. What is more, when it comes to usability, Bitbuy makes it even easier by providing you with automated sign-up and onboarding processes. Moreover, they have a new “username” feature for an even smoother experience, especially when it comes to logging in.
Once the account has been funded, users can contact the OTC desk by email. In order to trade OTC, users will need to sign up and get verified before depositing $50,000 in CAD or equivalent in BTC or ETH. Settlement with sameday outbound wire transfers to any bank in Canada. A live price quote on a large amount of “digital assets” for a fixed price, removing slippage. Work directly with Canada’s top crypto OTC desk that gives access to competitive rates set by real-time global markets. As summarized below, processing times do vary by crypto, however.
Note that the crypto exchanges do not provide any payment method for a credit or debit card. For receiving or sending funds in CAD, use any of the payment methods listed below. All users must note that the processing times are just indications and may vary depending on the bank provider. Bitbuy is a trustworthy one-stop shop for multiple cryptocurrency traders. Here are a few features you would like to know if you want to begin trading cryptocurrency on this platform.
When not working or writing, you’ll find me racing triathlons or rock climbing. There is no BitBuy minimum deposit, while the BitBuy minimum withdrawal and BitBuy withdrawal fee varies from coin to coin. The feature has the standard order types- stop orders, limit orders, and other types. You can expect stellar fees here too- 0.1% for makers and 0.2% for takers . I really liked how simple it was to purchase crypto and learn about their site. Over-the-counter trading allows big traders to avoid slippage and work directly with a trader.
BitBuy has a sleek and easy-to-use pro trading platform, as seen below. BitBuy is a registered Money Services Business with FINTRAC and is the first Canadian registered marketplace for crypto assets, federally approved as a Restricted Dealer. The Pro Trade platform allows users to trade cryptocurrencies for Canadian Dollars as well as for other cryptocurrencies.
Staking / Interest-Earning Accounts
Besides, the trades are cheaper there – but it might be too overwhelming for inexperienced users. Express trading is trading made simple – all you need to do is select the crypto assets you’d like to buy, enter the dedicated amounts and click the purchase button. It is an ideal option for novice traders who are just entering the world of cryptocurrencies yet it also charges higher fees . As a compliant and transparent exchange, Bitbuy leads by example on how to deal with crypto-security issues. Aside from regular third-party audits, it also conducts third-party security checks and actively monitors its on-platform activities. Besides, its team has passed background and client information handling checks, meaning it runs a highly competent service.
- As you can see in the table below, the only difference is processing.
- Simply select the crypto you wish to purchase/sell, open the wallet, and click “Buy” or “Sell” as shown below.
- Bitbuy is very serious about security, so their built-in wallet is also one of the more reliable ones.
- Kraken offers a greater variety of cryptocurrencies and pairs , so users who value a large selection and advanced traders who seek margin will prefer Kraken.
Bitbuy uses a flat fee schedule, and fees vary slightly depending on the platform you are using. The verification process takes only minutes as Bitbuy runs an automatic check with the credit bureaus. Buying Crypto on Bitbuy is a relatively easy process and only takes around 10 minutes to complete .
Alternatively, you can access the button within your account after logging in. 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. In the submission form, provide a detailed explanation of your issue and provide an attachment if necessary. Makers are parties that introduce liquidity to the marketplace while takers perform opposite actions.
There is no support for buying crypto using a credit or debit card, although users can deposit using every cryptocurrency available on the platform. Bitbuy is designed for novice and advanced traders, with products and services for everyone. For example, beginners can use the Express Trade feature, a fast, simple, and easy way to purchase digital currencies. In contrast, the Bitbuy Pro Trade Platform catered to customers who want to perform analysis and trade crypto more seriously. Bitbuy is a Canadian-owned and operated cryptocurrency exchange established in 2016 to provide a reliable, convenient, and secure way to buy Bitcoin and other digital assets. It is one of the best Canadian cryptocurrency exchanges and was ranked among 2020’s fastest-growing companies in Canada.
Reputation – Bitbuy not only maintains a stellar security record owing to its relatively long stay in the marketplace but also inherits its reputation from its parent companies. First Ledger Corp. is a federally regulated entity, while WonderFi is a publicly-listed tech company on the NEO exchange. Notably on the Bitbuy strategic partners list are legendary Shark Tank investor Kevin O’Leary and FTX co-founder and CEO Sam Bankman-Fried. 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. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.
Bitbuy Pro—Bitbuy’s Advanced Trading Platform
For large investments, using a bank or wire transfer is best. Conversely, for Interac e-Transfers, the minimum spend is $50, and the maximum is $5,000. The time for the payment to reach Bitbuy can take between 1 to 3 business days, depending on the bank.
Deposit and withdrawal methods
Upon creating an account, you will need to verify your email address, after which you will be prompted to verify your phone number. Affiliates can promote Bitbuy through embedded links in reviews, content, banner ads, YouTube videos, and more, etc. The platform is relatively cheap compared to some other competing exchanges.
Bitbuy is a Canadian cryptocurrency exchange platform that was founded by Adam Goldmanin Toronto, Canada, back in 2013. The platform is suitable for Canadian citizens only and is considered to be one of the most popular and leading crypto exchange platforms in the country. When writing this review, Bitbuy’s daily trading volume was $22.5M.