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There is a 0.10% maker fee and 0.20% taker fee on the Pro Trade platform. Coinbase, on the other hand, charges maker fees between 0.04% to 0.50% and taker fees between 0.00% to 0.50% based on a pricing tier structure. Bitbuy openly displays a fee summary for all transactions with no hidden costs. Many cryptocurrency platforms claim to have low or zero fees, but charge hidden fees on transactions.
If you’re looking for a reliable cryptocurrency exchange that’s available internationally, you should consider Coinbase, Binance and Coinmama. 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.
Coinbase Alternatives in Canada
In my eyes, it’s the best platform in the country to trade Cryptocurrency. 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. Security is paramount when we are investing, more so with cryptocurrencies. In fact, crypto fraud cost people more than $1.2 billion in 2019 alone.
You can access your Bitbuy account from the website or your phone through the app. You can reach out for your problems via email or a support card. When it comes to depositing or withdrawing cryptocurrency in one’s wallet, Bitbuy does not charge fees.
In this part of Bitbuy review, we’ll focus on the positive aspects. We’ll take a look at the security measurements, supported cryptocurrencies, functionality, fiat money support, digital wallet, and even more. When writing this review, Bitbuy’s daily trading volume was $22.5M. 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. Yes, Bitbuy is a legitimate platform for crypto investments. It has been around for over half a decade, during which nearly half a million Canadian users have traded $5 billion worth of crypto through it.
Bitbuy’s friendly customer support can assist you at any point in this process. They’ll also contact you within two business days to confirm your account registration. The platform offers both simple and advanced trading interfaces, hence an excellent exchange for both beginners and experts. Some exchanges like Coinbase have a longer track record of providing secure services than Bitbuy. But otherwise there are no stark differences between security measures of Bitbuy and other platforms.
- Bitbuy offers plenty of options for investors and traders.
- You can make Canadian dollar withdrawals through Interac e-Transfer, wire transfer or Electronic Bank Transfer.
- Users are required to use 2 Factor Authentication to secure their account, this is compulsory during sign-up.
- Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet.
- If all you’re looking for is a quick purchase at market price, then Bibuy Express is the way to go.
Also, the insurance covers up to the full price of your assets. 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. Also, if FIAT funding isn’t what you’re looking for, you can choose to fund your account with cryptocurrencies.
If you’re a Canadian crypto enthusiast, you have access to multiple cryptocurrency exchange platforms, both international and local ones. However, when choosing a platform, there are multiple factors that come into play. Today, we’ll focus on Bitbuy review and evaluate the platform based on all the aspects that matter the most. Bitbuy reviews each customer’s account and, using the so-called white-glove approach – i.e., full-service trading – helps them trade crypto, make crypto investments, and file crypto taxes. VirgoCX fiat deposits and withdrawals are free, but you’ll incur bid-ask spread fees of 0.5%-2.5% on trades. If you want to access and trade crypto and forex on the same platform, VirgoCX is a great platform to check.
How To Open a Bitbuy Account
At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians. Those who are happy praise the customer support and the ease of use.
While this has improved recently, there is still much to be desired. 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. Bitget Academy is a one-stop online crypto learning platform owned and run by the Bitget crypto exchange. It offers educational resources to help beginners, experienced investors, and everyone in between to learn about blockchain, trading, and all things crypto.
However, Bitbuy has far less selection than other exchanges like Coinbase and Binance, which both support over 100 coins. With regulation under wraps and an exciting acquisition, Bitbuy is establishing itself as one of the best exchanges in Canada. According to its website, Bitbuy has over 350,000 users and has seen over $4 bitbuy canada review billion in crypto flow through its platform. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. They’ve created new „Gold Account“ status, allowing for faster and higher wire deposits and withdrawals. Bitbuy isn’t, nor is any other cryptocurrency trading platform.
Bitbuy crypto exchange has quite a lot to offer, so let’s take a look at each of the aspects separately and see what it’s all about. Businesses looking to add cryptocurrencies to their portfolio can rely upon Bitbuy to help them throughout the process. Over 1,500 businesses have already entrusted their crypto dealings to this company.
Purchase top-rated Ledger products and get it shipped to you completely for FREE, wherever you are! Do not hesitate and start https://forex-reviews.org/ making the most of this experience. It’s time to move to another part of this Bitbuy review – the cons of the platform.
Bitbuy VS Coinbase
Bitbuy is now approved and regulated by the OSC, and the company has been acquired by WonderFi (a Kevin O’Leary backed company). WonderFi is also acquiring Coinberry, setting Bitbuy’s Web3/FinTech group as a leader in Canada and employing the most Web3 professionals in the country. If you’re a crypto newbie, the beginner’s category is where you should start. This section offers all the learning materials you need to learn crypto basics.
This section hosts several articles on crypto trading strategies to help you learn how to trade cryptocurrencies on Bitget. You’ll find articles on leverage trading, Bitget copy trading, futures grid, Bitget’s Auto-Invest, Index Futures, risk management, perpetual swaps, etc. Bitget Academy offers different types of educational materials to meet the learning needs of different users.
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CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews . It was created for reliable partners to be able to connect to Bitbuy’s 10+ markets that offer a variety of CAD-to-crypto and crypto-to-crypto pairs.
Deposit and withdrawal times vary depending on the payment method. Interac e-transfer is the fastest of the bunch and is usually processed immediately. Wire transfers take 3-5 business days, while crypto transactions vary depending on the network congestion. It also provides access to many more cryptocurrencies than the Express Trade mode. It offers 30+ cryptocurrencies which you can trade at flat fees of 0.5%.
Due to its cooperation with regulators, Coinbase has received exemptive relief to continue operating as its application for registration is reviewed. In case it doesn’t work, you can submit your financial statement, utility bill, a copy of a government issued ID and a selfie with your ID. Step 2 – You will need to enter your phone number, email ID, password and referral code if you have been referred. Bitbuy has a History page for tracking and reviewing transactions. The page has three sections- Orders, Transaction and Crypto Transaction.
You have to go to the Pro Trade page, click on List and choose a crypto-crypto or crypto-Canadian dollar pairing. Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer, and 1.50% fee using Wire transfer. There are a lot of features of Bitbuy that make it popular amongst Canadians, and I have outlined the main advantages below. To learn more about any of the features, click on the corresponding jump links. 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.
If you are a US resident, you should read our article on the best crypto exchanges in the USA. Although Bitbuy is a great platform for cryptocurrency trading in Canada, there are a few drawbacks that I need to mention. To find out more information and see alternative crypto exchanges that don’t have these issues, you can click on the jump links below.