Bitbuy Review 2023 Buy & Sell Crypto in Canada Fees, Pros, Cons

bitbuy review

You are likely to get them on the exchange in about the same time as a standard Interac funding will take. Bitbuy supports over 22 cryptocurrencies, but some notable assets are missing. Namely, Avalanche, Binance USD and BNB, which are in the top 20 cryptos by market cap. Bitbuy is a Canadian cryptocurrency exchange that was founded in 2016 and is based out of Toronto, ON. Because the exchange takes compliance seriously, it’s a highly secure and reliable option for all levels of traders. Bitbuy fees are easy to understand and the whole pricing structure is fully transparent.

bitbuy review

Whether you need this for your balance sheet is ultimately up to you, but the fact that Bitbuy has features for everyday Canadians and business owners alike is a plus. For serious crypto traders, you can email to inquire about API access. Getting Bitbuy’s API lets you automate your trading, which is necessary if you’re an algorithmic trader or are building any sort of trading bot.

Fractional Stock Trading?

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  • Depending on your trading experience and whether you’re looking for a quick trade or deeper research, you can choose either the Express or Pro trade route.
  • Bitbuy no longer supports Ripple (XRP) – it was delisted due to regulatory concerns.
  • Throughout this Bitbuy review, we’ll be taking a detailed look at the exchange, exploring its features, security measures, and ease of use.
  • Yes, Bitbuy is to this day only available to Canadian residents.
  • If you can corroborate financial information about yourself with this third party then you will be verified.

It has been around for over half a decade, during which nearly half a million Canadian users have traded $5 billion worth of crypto through it. On top of that, the company has been endorsed by big names such as Forbes, Bloomberg, and Wall Street Journal. As you can see from our comprehensive Bitbuy review, it really deserves the title of Canada’s top crypto advanced trading platform. As for your funds, they’re primarily kept in cold storage, i.e., offline hardware wallets. According to the official statement, at least 95% of Bitbuy’s cryptocurrencies are stored in such a manner at all times, protected from any malicious actors.

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Fortunately, Bitbuy’s security is some of the best in the country. When you’re buying up large amounts of cryptocurrency, you can scoop up a lot of the open orders and end up paying a much higher price than the current “market” price. Whether you’ve just signed up for a Bitbuy account or you’re looking to withdraw some money from Bitbuy, there are fees and as you can see in the image below, minimum withdrawal amounts. The company is adamant in the fact that it hides nothing, unlike some other platforms that hide fees inside their spreads, and it also states it has some of the best liquidity in the country. As such, many Canadians are looking for an easy way to trade cryptocurrencies like Bitcoin, Ethereum, Dogecoin and more. If you want a quick way to purchase popular cryptocurrencies with Canadian dollars, Bitbuy is for you.

‘One-Two Punch’ Against Crypto Industry: SEC Files Back-To-Back … – Mondaq News Alerts

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Much like Coinbase and Coinbase Pro, Bitbuy offers two types of trades – express and pro. They range between 0% and 1.5% for maker fees, and 0.1% and 1.5% for taker fees (see table below). Bitbuy is a fantastic cryptocurrency exchange for Canadians, particularly beginners. It is so easy to buy and sell crypto with Canadian Dollars using Bitbuy’s Express Trade feature.

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What makes Bitbuy so great is that it makes life easy for newbies and pros alike. If you are a crypto newcomer, you can grow with Bitbuy; there’s no need to “graduate” to a different exchange as you become a more sophisticated trader. The information provided on this page is for educational purposes only and is not intended as investment advice. We may receive compensation from our partners if you visit their website. Get the latest exchange reviews, releases, and how-to guides on Bitcoin, cryptocurrency and more.

Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys – Cointelegraph

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The delivery of information in this day and age is becoming quicker and quicker, and most new customers will expect a feature like this. What was exceptional in my eyes, is the fact the company is very active on social media. In fact, if you have a social media account, I’ve found this is a very strong way to get a hold of them with general inquiries as well. The company’s codebase is privately maintained, meaning your intellectual property is safe from external eyes.

Alternatives to Bitbuy exchange

An independent specialist runs an annual Proof-of-Reserves audit of Bitbuy. The most recent audit showed that Bitbuy surpassed their own 95% cold storage policy for an average of 98.12% in the major coins. If you are considering your options, find out what it has to offer in our detailed review. If you’re serious about trading cryptocurrency, you’ll want to have a Bitbuy account to do so.

If you wanted to refer people, then there were two options that you could consider. One is to give them your referral code for them to use when you are signing up and the other is to give them a referral link. The latter is perhaps your best bet as it makes sure that the user has indeed signed up with you as the referral.

By | 2023-06-29T11:40:46+01:00 August 6th, 2021|Forex Trading|