Bitbuy Review 2023: Are The Fees Still Competitive?

Something else that we really liked about this platform is the fact that it has “break-out” screens. This means that you can pop out any of the screens from the main interface. Essentially, you can set your own trading layout across your screen. The Pro Trade platform also has your standard market depth charts. These are helpful as they give you an overview of the bullish / bearish sentiment in the market. This order flow can also complement the technical analysis that you are doing on the charts.

Apart from the very well-curated list of FAQs, users get to reach the support team via email. Bitbuy pride themselves on outstanding customer support, and their reply time to email queries is the best in the industry. As of today, Bitbuy can be considered as one of the most reliable options for Canadians to buy, sell and trade cryptocurrencies.

bitbuy review

Learning to read candlestick charts will prove beneficial here, since you’ll want to keep track of all the presented data in real time. Luckily, it doesn’t require a separate account, so you can use it whenever you need a deeper insight into the crypto market. Of course, you won’t get locked out of the Express Trade tool if you go Pro. 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. 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.


The full value of digital assets in Bitbuy’s cold storage are insured with BitGo Trust Company, the world’s first qualified custodian, purpose-built for storing digital assets. Get low and transparent fees with live order books for advanced users. Bitbuy is a Canadian operated cryptocurrency exchange founded in Toronto. Bitbuy fees are easy to understand and the whole pricing structure is fully transparent. Opening an account and depositing is absolutely free, as is staking. Bitbuy offers a referral program where, for each friend you refer to the platform, you both get $20 after your referred friend makes a $250 deposit.

However, when it comes to Stellar Lumens, Ripple and EOS processing, it’s almost instant. 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.

bitbuy review

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. Unlike most other platforms, any chart overlays will remain when switching between trading pairs, which reset the analysis each time. Bitbuy supports 25 cryptocurrency assets that can be bought and sold on the exchange. In recent years, a trend called crypto staking, which enables users to earn passive rewards by locking their crypto holdings for a period of time, has become very popular. Bitbuy supports staking for three assets, Ethereum, Solana, and Polygon.

Customer Support and Online Reviews

Additionally, there aren’t account management fees or inactivity fees. Once you fund your account with $50,000 in fiat or Bitcoin equivalent, you email Bitbuy’s OTC support team at to start the process. Additionally, Bitbuy doesn’t offer stablecoin trading for assets like USDC, USDT, and DAI. Stablecoins are bitbuy review popular for yield generation by depositing them with various crypto savings accounts, so this is another downside. Bitbuy is a Toronto-based cryptocurrency exchange that began in 2016. It’s also one of the most established exchanges in the country and is helping Canadians get more access to crypto investing.

  • The credit provider’s final decision is made at their discretion, subject to decisioning criteria.
  • As the exchange progressed, they decided to re-brand to Bitbuy and included a number of other cryptocurrencies on the platform.
  • Depending on the settings, an API can give authority to open and close trades and initiate asset transfers.

Affiliate partnerships may affect where a particular product is listed within a review, but they don’t affect the review’s content in any way. – You should definitely go with the Pro Trade option as you get to access the TradingView charting tool to analyze the markets. The fees in this account are also less when compared to the Express account.

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Proving your identity documents including proof of address is a requirement by FINTRAC. The best and safest way to buy Bitcoin is with a credit or debit card and on an exchange or platform that provides its clients with immense security, low fees, and customer convenience. For the average user looking to use e-Transfer combined with express trade, it works out as a total fee 1.70% for a deposit and purchase. Pro trade was added in 2019 to offer traders a live trading view and advanced orders. This feature runs a traditional order book style trading platform similar to Binance or Coinbase Pro. We offer charting from TradingView which is industry standard and has all the crypto trend indicators and tools you are looking for when you are doing advanced trading.

Today, we’ll focus on Bitbuy review and evaluate the platform based on all the aspects that matter the most. Bitbuy is only available to Canadian residents and only supports CAD. While this may not be an issue for most Canadians, for anyone that travels a lot, they won’t be able to access their account while they are outside of Canada. If you plan to trade crypto internationally, a better option for you may be Binance or KuCoin that are available in many countries around the world.

In some cases, you still upload government ID or documents like bank statements to prove your identity, but most verification occurs automatically. However, the fact you can place snappy trades from your mobile phone is another small perk of using Bitbuy. When you trade over-the-counter, you’re dealing directly with a seller or broker to buy or sell securities.

bitbuy review

First of all, every Bitbuy user has to confirm its identity, meaning that the platform ensures there are no fake accounts and scammers on the platform. That protects users from being impersonated or scammed in the future. Tom Blake is a personal finance writer with a passion for making money online, cryptocurrency and NFTs, investing, and the gig economy. Of course, prevention is still the best way to protect yourself as an investor. This is why using features like Bitbuy’s two-factor authentication and creating a secure password is important. Bitbuy works with third-party providers to verify customers.

The withdrawal fee is also cheaper when compared to conventional withdrawal methods. Additionally, the processing time is faster when done via cryptos. On the other end, Pro trade is for professional crypto traders who tend to analyze the market before buying or selling a crypto asset. For this purpose, this exchange has partnered with TradingView to offer industry-grade charting tools for technical analysts. This section features select articles to educate users about the various crypto products on the Bitget exchange.

Bitbuy Quick Summary

Bitbuy is one of the most recommended cryptocurrency exchanges in Canada. That’s why the only fiat currency supported at the moment is CAD. Express Trade platform is a great option for beginners who are looking for an-easy-to use platform as well as clear navigation. It doesn’t provide any additional, unnecessary tools that would make your experience more confusing.

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. The Bitbuy platform offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, LINK, AAVE, and several others. To get started, you can sign up, provide your email address and password, and confirm your email address by clicking on the link sent to your email.

Instead, use your own crypto wallet to hold your funds since this is the only way to maintain control over your private keys and funds. Many international exchanges don’t have any type of insurance with the exception of their own insurance funds, so this is another perk of using Bitbuy. BitGo provides coverage for losses resulting from hacks, private key theft, loss of keys, and similar breaches.

The platform is relatively cheap compared to some other competing exchanges. Scroll further down to accept the terms of using Bitbuy’s partner ID verification provider Trulioo. In the final verification screen, declare your exposure to political activities by marking either of the provided radio buttons. Next, provide your identity details, including your real name, date of birth, and occupation, then click on the button.

Bitbuy is known to be a user-oriented platform that makes buying top cryptocurrencies easy, fast, and convenient. Instead of being a one-stop-shop for all sorts of crypto-related services, it focuses on building trust by being user-friendly, regulatory compliant, and focused cryptocurrency exchange. For the more advanced traders out there, you will probably want to trade on Bitbuy’s more advanced trading platform.