BitBuy Review 2023: Is This Canadian Crypto Platform Worth It?

However, if you do not find your question answered here, you can of course contact the customer service directly. An email ticket system is available for this purpose. Simply fill out the inquiry field online and send it together with your email address.

Bitvo is a premium cryptocurrency exchange in Canada with zero-fee trading and superior customer service. Financial assessmentThis is a risk and financial assessment step that identifies what level of trading and access a user will have on the exchange. It requires users to submit an accurate assessment of both their and their spouse’s income levels, assets, liabilities, and recent tax filings. When comparing the two, e-transfers are a much more convenient payment method. They might come with higher deposit and withdrawal fees, but funds are processed instantly and you won’t be required to make an in-person visit to your bank to transfer the funds.

Eligibility and Application Process

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On the Pro Trade platform, the fee depends on the kind of order you place. You may also place a limit order, meaning that the transfer will execute only when the price falls to your specified number. If you are confused, you can take help by clicking on Use Best Ask or Use Best Bid. The Pro Trade page allows you to place market or limit orders for buying cryptocurrency. You have to go to the Pro Trade page, click on List and choose a crypto-crypto or crypto-Canadian dollar pairing. Those who are unhappy have several complaints including the amount of “red tape” now involved since Bitbuy became regulated and compliant with the Ontario Securities Commission.

To log in on the app or online you can enter your Bitbuy ca login credentials, after which you will receive a 2FA code in a text message. Once you have entered the correct code, you will have passed security and will be able to make trades. While the clean and simple user interface means new traders can cut their teeth with trading crypto, Bitbuy Pro is available for more experienced traders. Bitbuy can accommodate large transactions with Bitbuy Corporate and their OTC trading desk. Despite operating as a centralized cryptocurrency exchange, Bitbuy leverages advanced technology to secure user funds.

CAD Withdrawal Fees

Hit ‘Next’ when you are ready and enter your two-factor authentication code to complete your withdrawal request. Assets are insured and held in cold storage, which gives investors an added peace of mind. There are a few features that make Bitbuy stand out, such as the insurance, Bitbuy express, Pro, and customer support level. Get low and transparent fees with live order books for advanced users. The Bitbuy exchange offers a concierge OTC service for those looking to conduct high-volume trades without slippage. The API is available to individuals, businesses, algorithmic traders, cryptocurrency ATMs, and other companies that want to automate their trading activity.

Access to their referral program where you can give $40 and receive $40 in return. To the right of ‘CAD’, click on the ‘Withdraw’ button. You must have a minimum Canadian dollar balance of $50 in order to make a withdrawal with Bitbuy.

Customer support

https://broker-review.org/ is one of the few Canadian crypto exchange platforms where you can use to buy, sell or deposit cryptocurrency. Founded in 2013 as InstaBT, the company decided to rebrand as Bitbuy three years later. Bitbuy is incorporated as a Money Service Business and is registered with Financial Transactions and Reports Analysis Centre of Canada with headquarters in Toronto, Canada.

Bitbuy registered as a money services business with FINTRAC and is federally approved as a restricted dealer for digital assets in Canada. Bitbuy’s security providers are ISO, SOC and FIPS compliant and require all users to set up 2-factor authentication before being allowed to execute trades. Excellent customer service, transparent pricing, low fees, fast processing, and a highly secure two-tier trading platform – Bitbuy has it all.

bitbuy canada review must verify your ID to comply with Know Your Customer laws. Canadian users can provide a piece of government-issued photo ID, like a driver’s license or passport. You will need to upload a picture of your ID using your computer’s webcam or by taking a picture with your mobile phone. Coinbase will send you a verification email to the address you provide. Bryan is a graduate of Dawson College and Concordia University.

Bitbuy currencies withdrawal fees:

Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Bitbuy is a great introductory cryptocurrency exchange though it still offers a variety of features for experienced traders. Bitbuy is one of the oldest Canadian crypto exchanges, offering 25+ currencies and some of the lowest trading fees around.

Easy to use, reliable and transparent to its fees, no hidden charges.

Credit Cards

Get exclusive access to our private library of e-books, special reports, online guides and popular newsletter. Wealthsimple Crypto may not appeal to sophisticated traders who need maximum functionality, but it’s a great way for beginner traders to get started. Originally, you could only trade Bitcoin and Ethereum, but they now support more than 50 coins. You can also stake Ethereum and Solana with just a couple of clicks, and earn up to 4.5% APY. After watching the videos, Coinsmart will have you complete a brief quiz demonstrating that you’ve learned the material.

• However, as it was a general question about their coins, the response was most likely an auto-generated reply.
• Simply send the automatically generated referral code you get when you open an account to as many friends as you like to get your bonus.
• While other platforms like Coinbase and Binance do accept card payments, you’re probably not going to be able to fund them with your Canadian credit card.
• Bitbuy requires a minimum deposit of C$100, which is quite a high figure compared to other platforms.

From there, you’ll enter in basic personal information like your occupation, date of birth, address. This is requested to verify your identity and prevent identity fraud. They’ve made the sign-up and onboarding process entirely automated, resulting in you trading crypto faster. 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.

You can sort through transactions based on transaction type, date, amount, bank, method and status. Orders are displayed with order type, order ID, date, quantity, price, value and fee. Orders are classified as Completed, Open, Cancelled and OTC. Bitbuy has a History page for tracking and reviewing transactions. The page has three sections- Orders, Transaction and Crypto Transaction.