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Bitbuy Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Bitbuy logo
3.59
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Bitbuy

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Bitbuy’s reputation as a Canadian exchange of choice is well earned. With its focus on security, comprehensive customer support, and a user-friendly interface, it offers a trading experience that appeals to a broad spectrum of crypto investors, from novices to seasoned traders.

Bitbuy emerges as a solid platform for engaging with digital assets, underpinned by a strong commitment to trust and transparency.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Supports a variety of cryptocurrencies
  • Offers both a basic and advanced trading platform
  • Canadian Dollar (CAD) support for local customers
  • Provides a secure trading environment with strong security measures

Cons

  • Limited to Canadian residents for CAD transactions
  • Relatively higher fees compared to some other exchanges
  • No margin trading available
  • Limited selection of altcoins compared to larger international exchanges
  • Limited educational resources for new traders

Quick Summary

Headquarters Location Toronto, Canada
Fiat Currencies Supported CAD
Total Supported Cryptocurrencies 38+
Trading Fees 2%
Deposit Methods Bank Transfer, Debit Card, Cryptocurrency, Bill Pay, Interac e-Transfer
Support Facebook, Twitter, Instagram, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Welcome to our comprehensive review of Bitbuy, one of the leading Canadian crypto exchanges. Established with the aim of providing a secure and intuitive platform for buying and selling digital assets, Bitbuy has steadily grown in popularity among cryptocurrency enthusiasts.

Bitbuy homepage

The inception of Bitbuy marked a significant milestone in the Canadian cryptocurrency landscape. As a platform, it has expanded its offerings and refined its services to adapt to the dynamic nature of the digital currency world.

The growth of Bitbuy is not just a testament to its reliability but also reflects the increasing interest in cryptocurrencies across Canada. Its evolution goes hand in hand with the wider adoption of blockchain technology and the gradual integration of digital currencies into everyday financial transactions.

Bitbuy’s commitment to providing a user-friendly experience has been a cornerstone of its development, fostering a loyal user base while attracting newcomers eager to explore the crypto space.

About Bitbuy

Bitbuy is a Canadian exchange that prides itself on being a trustworthy gateway to the world of cryptocurrencies. Since its inception, Bitbuy has diligently served its clients, offering a blend of traditional financial services infrastructure and innovative crypto assets.

The platform was born out of a desire to provide a safe and straightforward method for Canadians to engage with the rapidly expanding cryptocurrency market.

Bitbuy features

Bitbuy’s journey is an illustration of the resilience and adaptability required to thrive in the ever-evolving crypto market. The exchange’s history is marked by a series of strategic decisions that have enabled it to navigate regulatory changes, market fluctuations, and technological advancements.

The introduction of features such as Bitbuy Corporate Solutions reflects the platform’s foresight in catering to a diverse client base, including businesses that require a robust mechanism for large-scale crypto transactions. By staying attuned to market trends and industry developments, Bitbuy has successfully positioned itself as a significant player amongst Canadian cryptocurrency exchanges.

Bitbuy has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, TikTok and YouTube.

Bitbuy has a mobile app on both the Apple App Store and Google Play.

Bitbuy Supported Cryptocurrencies

Bitbuy supports trading on over 38 cryptocurrencies on their platform. This exchange currently supports 17 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • TRON (TRX)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Immutable (IMX)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Aptos (APT)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies Bitbuy supports

  • 1INCH
  • AAVE
  • ADA
  • ALGO
  • APE
  • ATOM
  • AVAX
  • AXS
  • BAT
  • BCH
  • BTC
  • CHZ
  • COMP
  • CRV
  • DOGE
  • DOT
  • ENJ
  • EOS
  • ETC
  • ETH
  • FTM
  • GRT
  • LDO
  • LINK
  • LRC
  • LTC
  • MANA
  • MATIC
  • MKR
  • NEAR
  • SOL
  • SUSHI
  • UNI
  • USDC
  • XLM
  • XRP
  • XTZ
  • YFI

Trading Experience

Bitbuy caters to the needs of both beginners and advanced traders through its carefully designed trading experience. The Express Trade feature allows for quick and easy transactions, while more experienced traders can appreciate the depth offered by more advanced trading options.

The inclusion of popular cryptocurrencies and various trading pairs ensures that users have access to the vibrant crypto market.

The trading experience on Bitbuy is a harmonious blend of simplicity and depth, catering to the varied preferences of its user base. The platform has been meticulously optimized to provide a seamless trading experience, from the intuitive Express Trade function to the more sophisticated options available on Bitbuy PRO.

Traders have access to a wide array of popular cryptocurrencies, enabling them to execute transactions efficiently. The inclusion of advanced features caters to the needs of algorithmic traders and those seeking an advanced trading platform, while the straightforward Express Trade method serves the requirements of those looking to trade cryptocurrencies with ease.

Bitbuy exchange marketing

Bitbuy Fees

Understanding the fee structure of a cryptocurrency exchange is crucial, and Bitbuy offers a competitive and transparent pricing model. Their fees are designed to accommodate both casual and serious traders, with a system that adjusts based on the trading volume to ensure fairness and value across all transactions.

A clear understanding of trading fees is imperative for anyone looking to engage with a cryptocurrency exchange. Bitbuy’s fee structure is designed with transparency in mind, ensuring that users are well-informed about the costs associated with their transactions.

The exchange employs a tiered fee system, which encourages active trading by reducing costs as users’ trading volumes increase. This approach not only supports Bitbuy’s commitment to fair pricing but also aligns with the expectations of experienced traders and volume traders, who typically seek out platforms that reward high-frequency trading with lower fees.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Debit Card) 0%
Trading Fee 2%
Withdrawal Fee (Bank Transfer) 1.50%

Bitbuy supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC compared to the industry average of 0.000075 BTC. So Bitbuy has a fee that is above the industry average by 566.67%.

Security - Is Bitbuy Safe?

Security is an area where Bitbuy truly shines. The exchange boasts robust measures, including an insurance policy, cold wallets, and two-factor authentication to protect clients’ digital assets.

Bitbuy is proactive in its approach, continually updating its defences to safeguard against cybersecurity incidents and technical risks.

In the realm of digital finance, Bitbuy’s security framework stands as a formidable defence against potential threats. The exchange’s rigorous security protocols are a reflection of its focus on security, which is an indispensable aspect of maintaining user trust.

The security features extend beyond the basics of two-factor authentication and cold storage. Bitbuy’s insurance policy is a testament to its proactive measures, offering clients peace of mind knowing their digital assets are protected.

Furthermore, regular Security Audits underscore the exchange’s commitment to maintaining the highest standards of security in all aspects of its operations.

Bitbuy Customer Support

The Bitbuy customer support team is recognized for excellent customer service, with multiple channels available for customer inquiries and concerns. Their commitment to providing timely and helpful assistance ensures that clients’ experiences are as smooth as possible.

The backbone of any successful service-oriented business is its customer support, and Bitbuy excels in this area. The customer support team at Bitbuy is well-regarded for its dedication to providing prompt and effective assistance.

An investor or prospective client can expect to find support through various channels, ensuring that help is readily available when needed. This robust support system enhances the overall user experience by ensuring that every enquiry, whether from a seasoned investor or a newcomer, is addressed with the same level of excellent customer service.

Bitbuy support

Bitbuy Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Bitbuy

  1. Create Account - Visit the Bitbuy website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Bill Pay
  • Interac e-Transfer

Bitbuy Alternatives

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
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Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

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Final Thoughts

Reflecting on the Bitbuy platform, it is evident that the service strikes a balance between functionality and simplicity. With a keen eye on the evolving needs of the market, Bitbuy has positioned itself as a preferred choice for many cryptocurrency users.

Bitbuy FAQs

Bitbuy is a legitimate cryptocurrency exchange that operates in compliance with relevant Canadian laws and regulations. It is registered as a Money Service Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Bitbuy is owned by First Ledger Corp. First Ledger Corp is a blockchain and financial technology company.

The owner of Bitbuy is First Ledger Corp, which specializes in blockchain and financial technology.

Yes, Bitbuy requires users to verify their identity. This process is in accordance with Know Your Customer (KYC) regulations and anti-money laundering (AML) requirements.

Yes, you can withdraw Bitcoin from Bitbuy to your personal wallet or another address. This is part of the platform’s services to facilitate cryptocurrency transactions.

Whether Bitbuy is better than Coinbase can depend on individual preferences and needs. Bitbuy is known for serving the Canadian market, while Coinbase is a widely recognized platform with a global user base.

Users might compare various features such as user interface, fee structure, and customer service to determine which platform suits them best.

Yes, you can send Bitcoin from your Bitbuy account to another wallet. The platform enables transfers of cryptocurrency to external wallets.

Bitbuy provides a platform to buy, sell, and hold cryptocurrencies, and it includes wallet functionality for users to store their digital assets. However, it is primarily an exchange service rather than a standalone crypto wallet.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: