However, given that EOS and Stellar Lumens are relatively recent additions, it does show that they are willing to add further coin support. Hopefully we can see another altcoin in their offering soon. They have promised AAVE and LINK are coming soon, so it does look like the number of choices is improving. So from the above it seems as if the most affordable method for you to fund your account is with a good old wire transfer.
- With a transparent model and low fees, Bitbuy has made a name for itself in the crypto exchange industry.
- As you can see from our comprehensive Bitbuy review, it really deserves the title of Canada’s top crypto advanced trading platform.
- I felt very comfortable with the account manager dealing with my transaction.
Beginners will love Bitbuy while advanced traders may be frustrated by the limited tools and coin selection. Personally, I love it for CAD-crypto trading pairs, but this is a drawback of you’re looking for crypto-crypto swaps. If you’re into popular coins like Bitcoin, Ethereum, and Litecoin, Bitbuy has got you covered but lacks in more obscure altcoin listings. If you’re a new user signing up for the first time, you’ll need to provide personal and financial information about yourself and verify your account.
However, what I love about Bitbuy is it is constantly listening to its customers’ feeback and making changes to the platform that are of benefit to the end user. Overall, what I would like to see is a live chat function bitbuy canada review added on to the site like most major discount stock brokerages have. The delivery of information in this day and age is becoming quicker and quicker, and most new customers will expect a feature like this.
Interac e-transfer is the fastest of the bunch and is usually processed immediately. Wire transfers take 3-5 business days, while crypto transactions vary depending on the network congestion. The reason for that is really simple https://broker-review.org/ – it was the first crypto platform in Canada to become fully regulated as a marketplace. This Toronto-based platform has, so far, had 400,000+ customers who successfully traded over $5 billion worth of crypto through it.
took a while but the problem was solved…
Most people trade crypto on the go, so we were glad to find there’s an official – and completely free – Bitbuy app for both Android and iOS devices. After this initial setup, you will be asked to provide additional information, such as your name, phone number, and date of birth. 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. In this Bitbuy review, we’ve gone over the positives and negatives sides of the exchange, along with some alternative options to consider.
But if you’re an advanced trader looking for robust tools and an extensive coin list, this may not be the platform for you. For those of you who appreciate multiple funding options, especially free ones like eTransfer or Wire Transfer, you’ll find Bitbuy to be quite accommodating. If you want the speed and convenience of card purchases, Debit and Credit Card fees are much cheaper than Coinbase. You may also place a limit order, meaning that the transfer will execute only when the price falls to your specified number. Alternatively, you can execute traded using the Best Ask or Best Bid options.
Thankfully, this platform has the option to place limit as well as market orders. It is great to see an exchange engage in such transparency and the ecosystem would do well if more exchanges followed suit. Note that Bitbuy is fully transparent regarding their fees, so you can always have a look at this page to verify the current fees.
How Does Bitbuy Work?
Sometimes people who trade a larger than usual amount, or deposit more frequently than usual may have their funds put on hold while Bitbuy investigates. If this happens to you, you can contact the support team to get it resolved. When trading with Bitbuy, it’s best not to do anything unusual for your account. Excellent customer service and super easy to use user dashboard. The process of moving crypto off the exchange is an extremely slow process when compared to Newton, Coinbase, etc.
For this manual verification check, you are required to provide a government issued identity document as well as a picture of yourself holding this document. The instant verification uses a third party data collection provider (Trulioo). If you can corroborate financial information about yourself with this third party then you will be verified. Bitbuy has to make sure that they are in compliance with all of Canada’s Anti Money Laundering and KYC regulations. Hence, they require all of their users to complete their mandatory verifications and KYC checks before they are allowed to buy coins.
BitBuy Core Features
Pro trades occur in the advanced trading platform, and they are cheaper in terms of fees (0.1% maker fee and 0.2% taker fee). BitBuy is overall a safe crypto exchange that leverages several security protocols. The firm allows users to activate two-factor authentication (2FA) through Google Authenticator. 99% of users’ cryptocurrencies are held in BitGo, a crypto custodian company that provides cold storage and is insured by Lloyd’s of London for $100 million. The biggest advantage to using the Pro trade feature is that traders have more control over the price at which they enter or exit their positions and how much they pay for the trades.
About Bitbuy Exchange
Unlike most crypto exchanges, BitBuy stands out for having rather excellent customer support that provides fast responses via email. The exchange is also active on social media and has a support page where users can find answers to common questions. The exchange also offers a mobile application, a built-in wallet, and plenty of security features. It’s easy to register for an account with Bitbuy, and once you’re in, the platform is intuitive and simple to use. Bitbuy is a good exchange for those who are looking for a reliable and secure platform to buy, sell, and trade the most popular cryptocurrencies. As with most crypto exchanges, you will pay two fees on Bitbuy.
Bitbuy has mobile apps for both Android and iOS devices, and both are highly rated. The only real complaint we found is that the mobile app will frequently log users out, requiring them to re-enter their log-in information. While this is certainly inconvenient, it is also in place for security purposes. In this case we think a little inconvenience is worth it for the added safety.
I deposited $100 via Interac e-transfer to Bitbuy and it took just seven minutes for it to arrive in my account, which is the fastest I’ve seen. The more liquid a crypto exchange is, the less likely there will be unexpectedly high transaction costs. There was a network fee of about $10 to move the Bitcoin, which meant I ended up with a total of $89.20 worth in my wallet. It goes against our guidelines to offer incentives for reviews.
Specifically, we will consider what the platform offers its users, how much it costs to use it, its approach to security, and customer support. In addition, a detailed step-by-step tutorial on how to sign up for the service is provided. Bitbuy is suitable for both beginners and experienced traders. The Express platform offers a simple, easy-to-use interface where you can buy crypto in minutes. If all you’re looking for is a quick purchase at market price, then Bibuy Express is the way to go.
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. We’ve already gone through some of the features of this platform and concluded that easy, near-instant trading is definitely one of the reasons why Bitbuy has gained such traction.
We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. We appreciate your patience and time while we conduct our required regulatory due diligence. I can confirm that we do not hold transactions without a specific reason!