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Bitbuy Review 2023: We Spent $100 To Fully Test Their Platform

Bitbuy Review 2023: We Spent $100 To Fully Test Their Platform

Hit the deposit button and follow the simple steps to make a quick deposit. These questions ask you about your net worth, income, and projected income for the next year. The purpose of this financial profile is to assess your “suitability” for investing in crypto.

  • If you’re not investing a significant amount of money in crypto, exchanges like Coinbase and Gemini are better on fees and also support significantly more coins.
  • As such, users wishing to access technical indicators will need to use another crypto charting software platform, like TradingView.
  • Besides, the trades are cheaper there – but it might be too overwhelming for inexperienced users.
  • Based on a variety of Bitbuy reviews, this shouldn’t cause any issues.

Compared to other international and Canadian crypto exchanges, Bitbuy’s offering of cryptocurrencies might seem slim. The site currently supports 25+ cryptos, although that includes all the most popular coins out there. Anyone with a Bitbuy account gets to access both Express and Pro trading options. For Express trade option users, everything has been made really simple on the platform. The users of this option might be more beginner traders who are looking to buy crypto in just a few seconds.

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 bitbuy review experienced investors. Now it’s time to put money in your account and start trading. Below you will find a detailed explanation of how to deposit funds from your Bitbuy account.

SUI (SUI) price CAD

The service is advantageous as it involves fewer steps to buy or sell digital assets compared to using the pro service. To use this platform you will need to have a North American phone number as well as provide an address in Canada. If you’re looking for a reliable cryptocurrency exchange that’s available internationally, you should consider Coinbase, Binance and Coinmama. When using the ‘Bitbuy PRO’ version, the fee for makers is 0.10% and for takers – 0.20%.

Before finishing this Bitbuy review, there’s a final thing to remember. If you take your security seriously and are thinking about buying cryptocurrencies, always make sure to also get a secure wallet for your assets. In case you don’t know where to start, check out Ledger Nano X and Trezor Model T first. This feature is created for big trades ($50,000 in CAD or equivalent BTC or ETH).

bitbuy review

Even if you are a newbie, their “Express Trade” feature makes it super-easy to begin trading. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and https://forex-review.net/ clever technology to safeguard our platform. We have since re-activated it and approved your verification. The delay caused me to miss out on an opportunity to invest the bitcoin elsewhere, and I incurred additional fees because of the delay.

Security and Privacy

FINTRAC is Canada’s financial intelligence agency that monitors financial activity to detect illegal activity like money laundering. Overall, this is just another indicator that Bitbuy is legit and following regulations. You can get slight trading discounts if you trade millions of dollars in assets, but for everyday investors, there aren’t discounts.

bitbuy review

When it comes to digital cryptocurrency deposit and withdrawal fees, they’re completely free. As you can see in the table below, the only difference is processing. Moreover, you’ll be able to fund, buy, sell and withdraw cryptocurrencies very fast and securely.

Additionally, traders can save on trading fees as the Pro trade feature is much cheaper than the Express trade. Bitbuy is one of the leading cryptocurrency exchanges in Canada, founded in June 2016 by Adam Goldman. Its company headquarters are based in Toronto, Ontario, Canada, and currently serves more than 400,000 Canadians with support for 15 cryptocurrencies. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you with that other person .

On the other hand, Bitbuy is more transparent about fees and their cold storage policy. NDAX, for instance, does not specify how much of their assets are held in cold storage. Highest security and encryption protocols to protect your data and funds, including 2FA, identity verification and daily encrypted backups. The platform also monitors your transaction data for suspicious activity.

Bitbuy Private Wealth

Yes, Bitbuy is a legitimate platform for crypto investments. It has been around for over half a decade, during which nearly half a million Canadian users have traded $5 billion worth of crypto through it. On top of that, the company has been endorsed by big names such as Forbes, Bloomberg, and Wall Street Journal. As you can see from our comprehensive Bitbuy review, it really deserves the title of Canada’s top crypto advanced trading platform. As for your funds, they’re primarily kept in cold storage, i.e., offline hardware wallets.

CultOfMoney.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The Cult of Money does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews . Bitbuy is a Canadian cryptocurrency exchange founded in Toronto in 2016. The Bitbuy cryptocurrency platform caters to both beginners and experienced investors.

bitbuy review

Qualified accredited investors get access to higher limits. Extremely fast, typically you can get cash from fiat to your favourite crypto exchange within 30 minutes to an hour. The user interface is clean, fast and simple to navigate with three main features. A subsidiary of First Ledger Corporation, Bitbuy is a transparent company that does not appear to conceal information from customers.

Below that provide your phone number and create a unique username and password. Only a North American number starting with the country code +1 can be used to sign up for the service. A verification code will be sent to this number so ensure that it is accessible to you when creating the account.

How to buy Bitcoin with Zelle

Therefore, the Bitbuy app is only suitable for quick purchases, not performing detailed analysis. We went through the verification process to ensure our Bitbuy review was as accurate as possible. Users will need to input details regarding their employment status, source of income, and address. Once KYC is complete, all Bitbuy features will be unlocked.

Both starting and seasoned traders may enjoy the platform and the way it is designed, which makes up a pleasant trading experience. Although experienced traders may find some aspects of the platform limited, newcomers are surely likely to enjoy a smooth and frictionless cryptocurrency buying and selling process. They wouldn’t let me withdraw to my wallet, they started to ask different personal questions that it was a customer relationship routine questions. After responding to them via email, up till this moment, they couldn’t resolve my case. My case is been handled by one Rebecca T. They asked for more details about the activity occurring in my binance wallet, which is wrong!

Many leading crypto exchanges aren’t available in Canada or don’t provide high starting trading limits for international users. The main drawback of Bitbuy is they only offer 17 different coins on their exchange. KuCoin is another popular crypto exchange that has over 700+ different cryptocurrencies to trade. Bitbuy is a user-friendly and secureCanadian cryptocurrency exchange, making it easy for Canadians to buy and sell crypto with easy CAD deposit methods.

Therefore, Bitbuy has instituted the best practices in user protection on their systems. One of the biggest threats to exchanges and their users are hackers. We know all too well about the damages that can be caused when a hacker is able to penetrate an exchange’s system. These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits. InstaBT was created as a way for Canadians to quickly and easily get their hands on Bitcoin.

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