Bitbuy’s team has proven over the past years that it knows how to achieve stable growth and move things in the right direction. This is, without a doubt, the safest and most stable platform of this kind in Canada. After this initial setup, you will be asked to provide additional information, such as your name, phone number, and date of birth.
Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys – Cointelegraph
Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys.
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In contrast to other popular cryptocurrency exchanges, fees on Bitbuy Pro Trade are the same as its Express Trade platform. As such, users will be charged between 1.5% and 0% regardless of their chosen platform. With many exchanges, like KuCoin and ByBit, offering zero-fee crypto trading, Bitbuy is one of the more expensive options on the market. Bitbuy is a cryptocurrency exchange that offers a full suite of digital currency services to individuals, businesses, and institutional investors via an OTC desk. The exchange allows buying and selling the most popular cryptocurrencies, such as Bitcoin, Ethereum, and XRP.
Mobile App
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. However, the platform has tools and features that make it stand above the rest, as well. The site allows you to earn a passive income by buying a stake in some crypto. Currently, you can only do this for two Bitbuy coins – Ether https://forex-review.net/bitbuy-crypto/ (ETH) and Solana (SOL) – but the company plans to add support for Polygon, Polkadot, Cardano, and Cosmos in the near future. Pro Trade is Bitbuy’s advanced trading mode and a tool you’ll most likely switch to when you learn the crypto trading ropes. 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.
There is no shortage of cryptocurrency exchanges to pick from as a Canadian. Bitbuy, which tailors its entire experience to the Canadian user, is one of the most established in the market. If you’re looking to express trade cryptocurrencies on Bitbuy, the fees are quite simple.
Cryptocurrencies
That’s probably because most Canadian banks like RBC do not allow crypto transactions. Some exchanges like Coinbase have a longer track record of providing secure services than Bitbuy. But otherwise there are no stark differences between security measures of Bitbuy and other platforms. Pro Trade users also have access to market trading histories. You can see a transparent fees summary for all transactions. However, it states it guarantees prompt responses to questions, and judging by Trustpilot reviews, Bitbuy backs up this guarantee.
- A few exchanges offer more in the way of alternative coins, but Bitbuy’s offering is more than enough to satisfy most mainstream traders.
- That’s why our Bitbuy review is taking a look at everything this exchange has to offer so you can decide if it’s for you.
- However, if you’re on the hunt for advanced features, like drawing and analysis tools, Bitbuy’s Pro Trade platform could be ideal.
- To get started, simply enter information about your business and request a call from Bitbuy’s corporate page.
Wire transfers take 3-5 business days, while crypto transactions vary depending on the network congestion. The first registered Canadian marketplace for crypto, Bitbuy also offers 1-to-1 insurance provided by Bitgo for users to store their holdings in a secure offline vault. Additionally, Bitbuy’s hot wallets are 100% backed by Coincover. As a result, customers can have peace of mind when using Bitbuy that their funds are protected by value-matched insurance. The company is fully transparent with its holdings and regularly updates its ‘proof of reserves’ report with the number of funds held in cold storage. Unfortunately, there is no live chat or phone support team, but you can speak to an automated chatbot to get sent in the right direction.
Built-In Wallets for Every Account
Perhaps there was some network congestion or higher volume than normal. This was frustrating, but glad the transaction landed and that Prit was able the honour the promotion that you folks had last week. I plan to continue to use Bitbuy, but if my transfers in the future takes as long as it did yesterday, I will use another exchange moving forward. When you open your account, you’re required to set up two step-verification (2FA), using your mobile phone. According to Bitbuy, 95% of assets are stored offline in cold storage, and they’re registered with FINTRAC, Canada’s financial intelligence unit. Compared to other international and Canadian crypto exchanges, Bitbuy’s offering of cryptocurrencies might seem slim.
There are also a host of other features that they have packed into this advanced trading platform. For example, you have a great deal more charting functionality than you have on the Express Trade. When it comes to withdrawal of cryptocurrencies, Bitbuy says that these are free.
Bitbuy Review – A Beginner’s Guide
After logging into the app, the user must register the device by entering a code sent to the email address linked to the account and then inputting an SMS code. After doing so, you will be shown a screen containing your balance and the list of assets available to buy and sell. Bitbuy has included a beginner-centric feature called Express Trade, enabling users to buy and sell crypto without hassle. While the Express Trade platform lacks analytical tools, its simplicity makes it excellent for new investors making their first foray into the crypto space.
It makes buying and selling cryptocurrency simple for Canadians, with free insurance as well. If users wish to talk directly to a customer service representative, you can submit an email request through the form on the site. The response time varies but you will typically receive a response within 1-2 business days. Bitbuy exceeds its cold-storage self-mandate of having 95% of all digital assets secured in cold storage. The exchange also has a comprehensive insurance policy run through digital asset security company BitGo. The downsides are its new, higher trading fees and the lengthy verification process.