Bitbuy Review: We Spent $100 To Fully Test Their Platform

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Useless support……automated answers…….

The platform’s security measures are top-notch, and the fact that it is registered with FINTRAC, OSC, and CSA ensures transparency and more security. Bitbuy requested all my bank financial transactions to clear my wire transfer. They wanted to know where I transferred the bitcoin I had already purchased. They then required I send them a copy of all transactions in my cold wallet. It stated I had 5 days to clear everything out from my account with bitbuy.

• If a platform advertises zero fee trading then beware that they may charge a spread instead.
• Professional traders also gain access to advanced strategies and algorithms that can significantly enhance their trading strategies.
• While Bitbuy does not offer the lowest trading fees in Canada, it did give me one of the lowest markups above Bitcoin’s live market price as well as a higher selling price.
• Newbies can place one-click trades using its “Express Trade” platform, while expert traders can access advanced charting and multiple order types using its “Pro Trade” platform.
• To get started day trading crypto, you’ll need to have some experience investing, a clearly defined strategy and a crypto trading account.

Business Crypto

When you sign up, you provide your email, name, and create a username and password. You also enter a phone number for SMS verification, and this must be a North American number. Bitbuy will review your information and documents and typically approve your account within 1-2 business days. Bitbuy is approved by the Ontario Securities (OSC) and the Canadian Securities Administrators (CSA) and is Canada’s first registered marketplace and crypto brokerage.

Frequently Asked Questions on Bitbuy Exchange

The exchange is committed to security protocols, has intuitive interfaces designed for ease of use, has a competitive pricing structure, and emphasizes exceptional customer service. All these traits position Bitbuy as a favored option among Canadian traders. The above security strategies give Bitbuy users the confidence they need to make transactions or on the platform, but it’s always advised to store your cryptocurrencies off exchanges. The exchange caters to novice and advanced traders by providing an experience that balances simplicity and complexity. It’s not just about facilitating transactions; it’s about maintaining a commitment to safety and dependability, which has kept its users loyal. The worst part about using international exchanges as a Canadian is buying limits.

Bitbuy and Coinsmart are two of the top Canadian cryptocurrency exchanges, and they both offer a range of features that cater to the needs of Canadian traders. In this Bitbuy review, we’ll delve into its features, covering aspects such as fees, pros and cons, security, customer support, bitbuy canada review and user interface. Join us as we provide an in-depth exploration of Bitbuy’s offerings, helping you gain a comprehensive understanding of what they bring to the table. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions.

Strong Focus on Security

2 Products with instant approval have a provisional decision within 60 seconds. The credit provider’s final decision is made at their discretion, subject to decisioning criteria. This exchange is only for the citizens or permanent residents of Canada. To register, you need a permanent address in Canada and a North America mobile number. Other critical security measures undertaken by Bitbuy includes the daily encryption activities and taking multiple backups.

Our extensive analysis of the Canadian Crypto Exchanges doesn’t stop here. You can also read our Binace Canada Review as an alternative to BitBuy or our best crypto exchange Canada Guide to see what are the best cryptocurrency exchanges in the Canadian market. To sign up for a Bitbuy account, you’ll need a cellphone with a North American number to activate and use the two-factor authentication security protocol. There are two methods to get verified on the platform, automatically and manually. Automatic verification requires you to enter your personal information such as name, address, date of birth, etc, and get verified using a third-party identity verification service. With the Bitbuy referral program, you receive $20 for every person you refer using your referral code and make a minimum deposit of $250.

• Although they do not offer telephone support, you can reach Bitbuy’s customer service support via email, support page, and social media like Twitter and Reddit.
• Additionally, the processing time is faster when done via cryptos.
• Bitbuy is a Canadian cryptocurrency trading platform launched in 2016 by Adam Goldman.
• Bitbuy held the transfer money for 9 days before returning to my account and charged me $35.
• But with Bitbuy, you can trade thousands of dollars in crypto once you verify and fund your account.
• Support and resistance levels develop on all timeframes, so you’re sure to find a position quickly.

Bitbuy offers OTC trading if you’re investing $50,000 or more. Once you fund your account with $50,000 worth of Canadian dollars or BTC/ETH equivalent, you unlock this feature. All you do is email email protected with your request and a Bitbuy expert will reply within the same day.

CoinBeast Connect allows you to ask all of your questions and consult a professional on a variety of topics such as mining, security, compliance, taxes, payments, Lightning and much more. Yes, the Express Trade platform has a 0.50% fee for buying and selling all available cryptocurrencies. The Pro Trade platform has a 0.10% maker fee and a 0.20% taker fee. This exchange charges a 1.5% fee for withdrawing funds from their Bitbuy account using Bank transfers and Interac e-transfers. You do not have to pay any fee if you transact through cryptos.