While we are independent, we may receive compensation from our partners for featured placement of their products or services. Express Trade offers the quickest and easiest way to trade, but you pay for that convenience with higher fees. If you’re an active trader or plan to make large transactions, you can access the free Pro Trade platfrom which offers lower fees and advanced tolls. BitDegree Learning Hub aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.

You can also sell cryptocurrencies you hold through the Express Trade. To fund your account with Canadian dollars, you use Interac e-Transfer or a wire transfer. To deposit crypto into your Bitbuy account, you send crypto to your specific Bitbuy wallet address for that particular cryptocurrency. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure.

1. Bitbuy fees are easy to understand and the whole pricing structure is fully transparent.
2. Not only does this platform stand out for its clean, user-friendly design, but it offers several easy ways to fund your account with fiat, and some of them are free.
3. The fee structure on Bitbuy is trading volume-based, meaning frequent traders can earn significant discounts when using the platform.
4. Bitbuy is one of the few crypto exchanges offering insurance on crypto holdings.

If it’s not there, you should click “Resend Verification Email”. 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. Scroll further down to accept the terms of using Bitbuy’s partner ID verification provider Trulioo.

CoinCentral’s owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. José is a copywriter and journalist with over 4 years of experience in the crypto field. He started his career in 2017 amid the Bitcoin and the cryptocurrency boom, and he hasn’t turned his back on the industry since then. BitBuy also conducts frequent financial and security audits using trusted third parties.

They do this by placing limited buy or sell orders that are not executed immediately and have different prices. The taker, on the other hand, chooses a price and executes the order, taking liquidity off the exchange. The verification process is usually instant, but it might take up to 1 – 2 business days.

Final Thoughts: Is BitBuy Right for You?

Learning to read candlestick charts will prove beneficial here, since you’ll want to keep track of all the presented data in real time. 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. Trading pairs are on the left side, with a search bar making it simple to find a specific asset or quickly compare several pairs to locate the best opportunity. However, there is no way to set up multi-screen charting, which we’re beginning to see implemented more commonly in exchanges we’ve reviewed.

Review of the Top Features on Bitbuy

Bitbuy is a cryptocurrency exchange that allows users to buy, sell, and trade the most popular cryptocurrencies. The site is easy to use and offers plenty of features to keep user assets safe. Exchange fees are one of the most important considerations when deciding where to purchase crypto. Additionally, there aren’t account management fees or inactivity fees.However, where Bitbuy falls short is with some withdrawal fees and trading fees. Another Bitbuy feature that’s useful for serious cryptocurrency traders is its API tool.

Customers can either send an email to the support team or chat with a live representative. If you’re unfamiliar with trading, you might be wondering what maker and taker mean. Buy and sell crypto with 400,000 other Canadians on Bitbuy, a Canadian-owned cryptocurrency platform. BitBuy scores 3.6 out of 5 stars from more than 250 reviews, which is actually quite high compared to other exchanges like Coinbase, which barely ranks 1.6 out of 5. Get home insurance in 5 minutes for as little as $12/month. Best of all, Hardbacon users receive a $20 account credit when they choose Square One.

BitBuy Review 2022: Exploring a Top Canadian Exchange

That means there’s less liquidity so very large trades can cause siginificant price swings. It displays interactive charts with candlesticks and volumes. You can look at data in specific time frames and through particular indicators. There are many customizable charting indicators available, though not as many compared to Coinbase or Kraken. You may also place a limit order, meaning that the transfer will execute only when the price falls to your specified number.

Top Spot Exchanges

When it comes to Bitbuy, I wouldn’t say that such a problem exists. Of course, it has a clear design and is easy to use but it also offers additional functionality. 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. I am having issue with my account and I am trying to reach the support last three days. I got no response, only things response is the bot, And it’s useless bot.

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. To use this platform you will need to have a North American phone number as well as provide an address in Canada. 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. In case you don’t know where to start, check out Ledger Nano X and Trezor Model T first.

Of course, you’ll have to load up your account first, as with all other services we’ll discuss later in our review of Bitbuy. It’s worth mentioning that you can only trade a limited selection of cryptos this way, but it’s still a great starting point and works like a charm. The reason for that is really simple – it was the first crypto platform in Canada to become fully regulated as a marketplace. This Toronto-based platform has, so far, had 400,000+ customers who successfully traded over $5 billion worth of crypto through it.

FINTRAC is Canada’s financial intelligence agency that monitors financial activity to detect illegal activity like money laundering. Overall, this is just another indicator that Bitbuy is legit and following regulations.Of course, prevention is still the best way to protect yourself as an investor. If you’re trying to invest in cryptocurrency as a Canadian, it’s sometimes easier said than done.

The exchange uses a maker-taker pricing model within its Pro trading platform, with fees charged at a flat rate of 0.10% and 0.20%, respectively. Depending on the settings, an API can give authority to open and close trades and initiate asset transfers. Sophisticated bots can even perform more advanced functions such as portfolio rebalancing and derivative orders even when the platform does not support them. A trading API (application programming interface) is a channel through which a user can access their trading accounts remotely through a bot or third-party software. 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. 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.

This means Bitbuy can offer more features for users and manage transactions on its own marketplace rather than relying on third parties. Compared to other international and Canadian crypto exchanges, Bitbuy’s offering of cryptocurrencies might seem slim. bitbuy review The site currently supports 25+ cryptos, although that includes all the most popular coins out there. The company is fully transparent with its holdings and regularly updates its ‘proof of reserves’ report with the number of funds held in cold storage.