If you place a limit order to either buy or sell an asset, you are considered a maker, but if you execute a market order, then you are a taker. Choose your preferred fiat base currency (CAD or USD) during setup and enable 2FA for enhanced account security. We use dedicated people and clever technology to safeguard our platform.
Bitbuy prioritizes security by implementing powerful security measures to safeguard user assets. 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. Before making financial investment decisions, do consult your financial advisor. Once again, people who are interested in buying the most mainstream coins should find Bitbuy more than enough. However, if you’re looking for a platform that gives you more possibilities, then there are other options that you should take into account.
For the platform’s prices to be even remotely comparable to Binance, a customer must transact over CAD 1 million within 90 days. However, while Bitbuy offers staking on a few assets, we were unimpressed to see that the company takes a 25% commission from its users’ earnings. Not many mainstream exchanges we’ve reviewed take this approach, and with staking already limited, this charge is a significant hit to the feature’s usability. Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- The more features a crypto exchange has, the more complex the interface becomes.
- I paid close attention to how clear and competitive the fees were, how responsive customer support was, and whether account funding and withdrawals happened as smoothly as promised.
- Staking commission ranges from 25% to 30%, and crypto withdrawal fees vary by asset, so always confirm specifics before moving funds.
Top 10 Crypto Exchanges to Trade and Invest in 2025
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. The exchange is run and operated by Bitbuy Technologies Inc., a division of crypto investment company First Ledger Corp. In January 2022, WonderFi, a Vancouver-based technology company that is publicly listed on the NEO Exchange, bought out First Ledger Corp to gain exclusive rights over the operations of Bitbuy. Yes, Bitbuy operates a referral program where both you and your bitbuy canada review referred friend can receive a bonus after completing qualifying actions, such as account verification and an initial trade. The details and bonus amounts can vary, so check the referral section of your account for the latest terms.
- Bitbuy is one of Canada’s safest crypto exchange platforms, where you can buy and sell digital currencies.
- However, the Pro Trade platform offers six additional trading pairs denominated in CAD and BTC, The tradable digital currencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and 20 others.
- Additionally, the trading fee changes depending on whether you’re a maker or a taker.
- Coinsmart has competitive fees and offers 24/7 customer support.
- To apply for it, you need to send a request for API and, once approved, you’ll be able to set up CAD-to-crypto and crypto-to-crypto pairings and fully automate your trading routine.
Are all the top cryptocurrency exchanges based in the United States?
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. Also, if FIAT funding isn’t what you’re looking for, you can choose to fund your account with cryptocurrencies.
Advanced Trader Tools
Express trades on the Bitbuy platform are charged at a 0.20% rate while pro platform trades attract 0.10% and 0.20% maker-taker fees, respectively. Unfortunately, at the moment, Bitbuy does not offer real-time customer support through either phone or online chat. 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. Staking, DeFi staking, and lending services are increasingly important for crypto investors seeking passive income and portfolio optimization.
Bitbuy Support Channels
Centralized cryptocurrency exchanges tend to be rather easy to use. 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. Yes, Bitbuy is one of the most secure and reliable cryptocurrency exchanges in Canada. If you’re a Canadian crypto enthusiast, you have access to multiple cryptocurrency exchange platforms, both international and local ones.
For liquidity providers, the maker and taker fees are also 0.1% and 0.2% respectively if you have accumulated under $1.5m CAD in total maker fees paid in the previous 12 month period. If you exceed $1.5m CAD, there is no maker fee and a 0.1% taker fee. The exchange is also registered as an MSB under FINTRAC the Canadian financial regulator. In December 2021 the exchange became the first cryptocurrency marketplace in Canada to be registered by the Ontario Securities Commission. They are also currently the only Canadian platform listed on Coinmarketcap. The owner(s) of this website may be compensated to provide opinions on products, services, websites and various other topics.
Pros of
It is registered as a Money Service Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Depending on one’s experience level in the crypto market, Bitbuy offers customizable trading solutions to suit individual requirements. Bitbuy places a premium on user protection, grounding its services in strict adherence to regulatory requirements, strong insurance measures, and steadfast cold storage protocols.
Bitbuy has a mobile app on both the Apple App Store and Google Play. Sign in to your financial institution or online banking platform and complete the transaction. 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. Get the best cryptocurrency rates with your very own personal Account Manager. Snipe your trades on the fly with advanced charts on Bitbuy Pro Trade.
In addition, Bitbuy can handle deposits and withdrawals speedily, allowing you to buy and sell whenever you like. I took the time to put Bitbuy through its paces using my own funds—buying and selling crypto, navigating both desktop and mobile platforms, and directly testing all of its main features. I paid close attention to how clear and competitive the fees were, how responsive customer support was, and whether account funding and withdrawals happened as smoothly as promised. My experience involved checking Bitbuy’s trading tools and seeing if both beginners and experienced traders would find what they need. Coinsmart, on the other hand, offers a wider range of cryptocurrencies than Bitbuy, supporting over 30 digital assets. Coinsmart also offers a mobile app, an advanced trading platform, and a user-friendly interface.