Bitbuy stands on the expensive side in terms of deposit fees. The Express Trade platform is for people who just want to buy cryptocurrency and hold it as an asset instead of making daily purchases and sales. Pro Trade is more user friendly and has more tools than Coinbase Pro or Newton Pro Beta.

Proving your identity documents including proof of address is a requirement by FINTRAC. Unlike Bitbuy, CoinSmart allows you to access the platform from different countries. This will enable you to deposit money in other fiat currencies and buy and sell your cryptos through the platform. You can even fund your account using your Visa or Mastercard. The fee for purchasing coins directly with a credit card is 6.5%(min. $10). For tracking and reviewing your transactions, you can access Bitbuy’s history page.

Bitbuy is a safe bet when it comes to trading cryptocurrency. It is fully regulated, has a secure platform that has never been hacked, and is suitable whether you’re a beginner or an experienced trader. Bitbuy offers Canadians the ability to deposit Canadian dollars into their fiat wallets via Interac e-Transfer or bank wire. You can also use a card via a third-party provider but there is a standard fee set at 6.25%. Bitbuy’s fees used to be some of the cheapest of any crypto exchange at 0.2%. Now, there are no deposit fees and they have implemented a tiered trading fee structure based on your trading volume over the last 90-day period.

Mobile and Desktop app

Every time a friend signs up you’ll both get $20 after they deposit $250 into their account. Just go to your account to get your unique referral code. When you sign up, you will be asked to provide a telephone number for two-factor authentication, so the Bitbuy sign-in process can be as safe as possible. Please note for both web and app transactions, if you are withdrawing via Interac e-Transfer, Bitbuy will send it to the email address linked to your Bitbuy account.

Our Advertisers/partners are also not responsible for the accuracy of the information on our site. Be sure to review the provider’s terms and conditions for all products and services displayed on MoneySense.ca. For complete and current information on any product, please visit the provider’s website. Perhaps the most important question to ask when dealing with an online bank or investment company, is whether or not they are safe. After all, you’re giving them your hard-earned money and personal information; you need to know that it’s secure.

All my friends already closed their Bitbuy accounts because of how they treated me by closing my account for no reason at all. I am surprised they are still allowed to operate this shady business here in Canada. When you activate your account, you have a trading limit of up to $500 CAD per day. As you continue using the platform, the limit goes to $5,000 CAD per day, with the final limit being no more than $50,000 CAD.

Four open banking working groups have been established, each of which includes balanced representations from banks, other open banking participants and consumer representatives. Each working group has met five times of the course of 2022 to progress Canada’s open banking implementation, bitbuy canada review with a summary of discussion items and the outcomes of each meeting being posted. Further, those that are registered provincially as a securities dealer or registered as a payment service provider under the RPAA may be subject to streamlined accreditation process.

Bitbuy is one of the most convenient and safest online exchange platforms for Canadians. It is a great option for those who are just starting out in the world of crypto as well as more experienced investors. Highest security and encryption protocols to protect your data and funds, including 2FA, identity verification and daily encrypted backups.

Credit Report

In addition, in the latest Proof of Reserves Audit that was released on July 2021, BitBuy surpassed their cold storage policy for an average of 98.12%. The more liquid a crypto exchange is, the less likely there will be unexpectedly high transaction costs. Bitbuy is only suitable for Canadian residents, but Canadians are able to access the trading platform outside of Canada. We have already discussed the overview of the company and the advantages and disadvantages of trading with this platform. This Bitbuy review will now talk about the range of features. Bitbuy only offers an automated bot and email support for its users.

The platform complies with Canadian KYC regulations but still manages to keep the sign-up process quick and simple. The latter are invited to use Bitbuy “Pro Trade”, their more advanced trading platform, to swap cryptos, make limit orders, and follow the live order book closely. If you need help, you can reach them by email or by phone. Their response time is faster than other cryptocurrency exchanges, many of whom don’t offer phone support at all. Self-serve assistance is available via the support page of the Bitbuy website. You can browse through more than 50 FAQs to get an answer to the most common questions.

• If you are considering your options, find out what it has to offer in our detailed review.
• Regulated and insured, Bitbuy — streamlined for Canadian traders — gives its users peace of mind.
• If you are in need of coating expertise for a project, or looking for a free quote to challenge your current suppliers, get in touch through our free & fast quote service.
• Then, in January 2022, Binance confirmed to OSC Staff that trading restrictions were in place for Ontario accounts on the Binance platform when in fact Ontario accounts were able to trade.

The page also shows an estimate of a Canadian dollar balance alongside the cryptocurrency balance for a crypto wallet. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. NDAX is also a good option which offers crypto staking for five cryptocurrencies. Bitbuy’s trading platform has everything you would need to trade in an attractive color scheme, which you have the option to change. Bitbuy’s Pro Trade is more complicated and suitable for experienced users who would like to see live charting, price movements, order books, and advanced order types.

Atomic Wallet

As far as traders’ account protection goes, there’s the two-factor authentication, a Global Settings Lock, and a Master Key that prevents account changes when activated. Coinmama is an Israeli-based cryptocurrency exchange from Slovakia which has a long-standing reputation in the crypto world. This international platform is available in around 188 countries and has served more than 2 million customers so far.

With Comparewise’s exclusive deal, you can get access to a $30 welcome bonus by signing up with our link. This bonus amount is more than double that of any other website. This section of the Bitbuy review will discuss how to get started with this trading platform. With Bitbuy, you can get started by clicking on the Get Started option on the top-right corner of your screen.

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If you haven’t, it would be much easier for you to use fiat to crypto exchange as an entry point. Most support a variety of deposit methods like bank transfers, debit cards, interac e-transfer, credit cards, etc. When creating our list of the best Canadian cryptocurrency exchanges, one of the non-negotiables is that our top pick had to be well suited to a wide range of crypto traders.

NDAX offers staking for certain coins; its website has a handy staking calculator. Of course, the transfer amounts don’t overlap, so you’re likely going to have to choose one or the other, depending on the amount of money you’re moving. Bitbuy https://forex-reviews.org/ is one of the most popular cryptocurrency trading platforms here in Canada. Bitbuy is one of the most popular cryptocurrency trading platforms here in Canada, and for good reason. Coinbase is a global crypto platform that’s popular in the US.

They’re quick to take your money, let you purchase a coin but withdrawing your coins to an external wallet takes forever – hours. Are you a crypto trading beginner or an experienced trader? If you’re a beginner and just want to buy bitcoin, we advise you to stick to user-friendly platforms with easily-navigable interfaces.