If your business has the need to execute larger block trades with lower spreads / commissions then you can always use Bitbuy’s OTC solution. Over-the-Counter block trades allow for a more direct sale / transfer between the two parties. Bitbuy requires all of their users to enable two factor authentication by default.

Bitbuy crypto exchange has quite a lot to offer, so let’s take a look at each of the aspects separately and see what it’s all about. Now that you know when and where the company was founded, it’s time to move to the actual Bitbuy review and find out more about the platform’s pros and cons. By offering a diverse range of cryptocurrencies, an exchange can mitigate the risk of concentrated market manipulation of any single coin or token. Technical diversity may also help reduce overall risk exposure to zero-day vulnerabilities or 51% attacks that seek to take advantage of an exchange’s liquidity.

• Now, you should know that not all crypto exchanges support fiat currencies.
• This means that you can pop out any of the screens from the main interface.
• You can also transfer in crypto from an external crypto wallet for free and there is no deposit limit.
• More than 99% of crypto on the exchange is held in cold storage.

Bitbuy has been denying me access to my…

Rewards rates and eligible coins are shown in the platform, and staked funds are generally subject to a lock-up or unstaking period as specified per asset. Bitbuy does offer staking for select cryptocurrencies, primarily well-established proof-of-stake assets. Bitbuy’s focus on spot trading makes it straightforward and accessible for users prioritizing simple buy-and-hold or periodic trading.

Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question. Overall, we found that the community was quite positive on Bitbuy. For example, in this thread you can see that most of the users who commented had no issues withdrawing coins from their accounts. This was also during the peak bull run in Jan so it shows their consistency. Probably the most popular Canadian cryptocurrency community that one can find is the Canadian Bitcoin subreddit at /r/BitcoinCA. Community members will share information not only on the best exchanges but also on other hints and tips for buying Bitcoin in Canada.

My Review of the Bitbuy Crypto Platform (September

In summary, Bitbuy is a great exchange for Canadian users who are looking for the easiest way to get their hands on some cryptocurrency. Firstly, while Bitbuy supports most of the top cryptocoins, there are still a number of coins that we would have liked to see on their platform. These include the likes of Cardano and Polkadot, which have become exceedingly popular in 2021.

• They have stated that this could take between 1-3 business days to process.
• Note that these platforms have been updated with a more modern, user-friendly interface as of the new updates to Bitbuy.
• It comes with additional features such as in-depth market charts using TradingView technology, advanced orders (stop-loss, limit), live order book, and even more useful tricks and features.
• Also, it’s fair to mention that if you use Bitbuy PRO, fees get lower.

Supported Fiat Currency and Deposit Methods

The first step to creating a Bitbuy account is to visit the exchange’s website and begin the sign-up process. Before you proceed with this tutorial, it’s worth noting that only Canadian residents are allowed on the Bitbuy platform. If you do not live in Canada, there are other options that you may want to consider.

I deposited money via etransfer and…

No response in 3 days …call their tel # and there are no options to talk to a BitBuy employee. Frustrating beyond belief that they can hide behind email and draw out simple, straight forward transactions. My guidance would be select another crypto exchange ..these guys are proving they are very willing to take your money but will make it extremely difficult to withdraw. Steer clear of any company that will take your money but not your phone call. In conclusion, Bitbuy stands out as a reliable and user-friendly cryptocurrency exchange in the Canadian market.

As a standout Canadian crypto exchange, Bitbuy’s core services demonstrate its commitment to accommodating the different needs of cryptocurrency users. Connect with Bitbuy customer service by submitting an online contact form. There’s also a helpful web database of FAQs and help articles to guide you through account setup, funding, trading and more.

These fees are actually quite reasonable and are below the rates that are charged by some of the other Canadian exchanges. For example, their Interac e-transfer withdrawal commands a fee that is less than that which is charged by Coinsmart for example. These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits. In this comprehensive review, we will take a deep-dive on Bitbuy. We will go over their security, platform support, fees and technology.

We use cutting-edge AI models to forecast future prices for stocks and crypto. Next, provide your identity details, including your real name, date of birth, and occupation, then click on the Next button. Remember also to verify your email address by visiting your email inbox and clicking on the verification link sent to you. Alternatively, you can access the Verify your account button within your account after logging in. At this point, you can successfully log in to your Bitbuy account and start browsing it, but to perform any transactions, you will need to verify it. Once done, check the reCAPTCHA box and solve the human-test challenge then click the Submit button.

Mobile capabilities are crucial at the moment, and Bitbuy’s mobile application delivers an easy-to-navigate platform for traders. The app accommodates various trading activities, from swift market transactions to carefully placed limit orders, offering extensive features readily accessible on your device. Now, users enjoy bitbuy review the ease and adaptability needed to trade crypto on the go. You can connect directly with your bank account and deposit and withdraw. They have a lot of cryptocurrencies to chose from and a secure platform to keep you safe. After account and user verification steps are complete everything goes well.

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. E-Transfers are typically processed within a few hours, though in some cases it can take up to one business day for funds to appear. Bitbuy’s history begins in 2013 when it was founded by Adam Goldman in Toronto, originally under the name InstaBT. The company quickly recognized the growing demand among Canadians for a straightforward and secure way to access cryptocurrencies. Bitbuy may offer promotional rewards or referral bonuses from time to time, but there is no permanent or guaranteed welcome bonus for new sign-ups.

Referral Program

In fact, ApeCoin and Pepe Coin are hard to find on other majpr exchanges in Canada, so I was happy to see them listed on Bitbuy. An API allows developers to gather information from Bitbuy’s servers as well as send automated commands to the exchange. No automation software is available for users who do not use the API.

Zero customer support

If a provider is incapable of protecting your assets, then there’s no difference if it offers extensive features or very low fees. In this part of Bitbuy review, we’ll focus on the positive aspects. We’ll take a look at the security measurements, supported cryptocurrencies, functionality, fiat money support, digital wallet, and even more. Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos.

I took the time to put Bitbuy through its paces using my own funds—buying and selling crypto, navigating both desktop and mobile platforms, and directly testing all of its main features. I paid close attention to how clear and competitive the fees were, how responsive customer support was, and whether account funding and withdrawals happened as smoothly as promised. My experience involved checking Bitbuy’s trading tools and seeing if both beginners and experienced traders would find what they need. Bitbuy was founded in 2016 by Adam Goldman who studied political science and later became a full stack developer. Goldman is the cofounder of InstaBT where users could buy Bitcoin with their debit cards through INTERAC Online. Goldman founded Bitbuy to provide Canadians the most convenient, dependable, and secure way to access digital currencies.