That make this platform a great option for both beginners and advanced investors. Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. Assets are insured and held in cold storage, which gives investors an added peace of mind. It was developed with the intention of allowing buyers easy access to a variety of cryptocurrencies. It’s available through the Google Play Store and the Apple App Store.

bitbuy review

According to its website, Bitbuy has over 350,000 users and has seen over $4 billion in crypto flow through its platform. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. Yes, Bitbuy is a legitimate cryptocurrency exchange founded in Toronto in 2016.

How to create a Bitbuy account (step-by-step)

However, as it was a general question about their coins, the response was most likely an auto-generated reply. Bitbuy’s trading platform has everything you would need to trade in an attractive color scheme, which you have the option to change. The more liquid a crypto exchange is, the less likely there will be unexpectedly high transaction costs.

bitbuy review

But if you’re an algorithmic trader, institution, or business that deals with serious amounts of crypto, API access is essential. This feature isn’t useful for everyday traders investing under $50,000 in crypto. But it’s still a nice feature to have and shows how Bitbuy caters to beginner and serious crypto investors alike. However, you can always use Pro Trading to place market or limit orders if you want a bit more control over when your trades execute. And, if you’re a more experienced trader and need more data, Bitbuy still has you covered.

Creating a Bitbuy account is a simple process that anyone can complete within a few minutes. Initially, a user must input an email address and phone number, which the user must confirm. However, before it’s possible to trade or deposit on Bitbuy, any customer must complete Know-Your-Customer verification. Following the FTX collapse, the need for security in cryptocurrency has become even more apparent. As Bitbuy provides insurance and proof of reserves, the platform is far more secure than most exchanges. On all trades, excellent 24/7 customer support and an easy-to-use mobile application, only confirm its reputability among users.

Inside this review

Below are a few of things that make Bitbuy an exchange to consider. Is one of the oldest and most popular cryptocurrency exchanges in Canada. Back in 2013, Adam Goldman founded an exchange named ‘Instabit’ with its headquarters in Toronto, which eventually got rebranded to Bitbuy in 2016. In 2013, cryptocurrencies or even Bitcoin were not half as popular as they are today. So starting an exchange where people can buy and sell cryptos back then was definitely not easy unless there is a strong vision behind it. Bitget exchange is safe and secure, and so far, the platform has experienced nearly zero incidents in cybersecurity breaches.

We will also gather the opinions of the Canadian crypto community on their experience with Bitbuy. Unfortunately, Bitbuy does not offer staking, crypto cards, or any additional features you might see elsewhere. Bitbuy’s focus, for now, is offering their users the best trading experience. Since Bitbuy is a regulated crypto exchange, it must comply with all regulations.

  • On the other end, Pro trade is for professional crypto traders who tend to analyze the market before buying or selling a crypto asset.
  • We checked the spreads on the rate that we were getting from Bitbuy and the live market rate.
  • However, before it’s possible to trade or deposit on Bitbuy, any customer must complete Know-Your-Customer verification.
  • Use the API to automate trades with high-frequency trading and live exchange rates.

It is a popular cryptocurrency exchange in Canada where users can easily trade a number of digital currencies. Experienced traders can use advanced services such as over-the-counter trading and brokerage. It is known for its competitive trading fees and excellent customer support.

Bitbuy Review 2023: Pros, Cons, Fees, and Alternatives

This is a great way for them to get a 20% boost on a relatively modest portfolio. So, all in all, a nifty piece of technology which could help Bitbuy secure the lucrative high skilled trader niche. Of course, in order to supplement the technical analysis you are going to need more order functionality. Thankfully, this platform has the option to place limit as well as market orders. We checked the spreads on the rate that we were getting from Bitbuy and the live market rate.

bitbuy review

This feature will be especially useful for retail traders with high volume and also institutional investors. Ease of Usage – From creating an account in just a few minutes to making bank deposits and quick withdrawals, user-friendliness is at the core of Bitbuy. Therefore, users with zero crypto knowledge also can easily use Bitbuy. Bitbuy is a Canadian cryptocurrency trading platform launched in 2016 by Adam Goldman. The platform is based in Toronto, Ontario, serves more than 400,000 Canadians, and supports over 15 cryptocurrencies.

Large volume traders and institutional investors can make use of Bitbuy’s OTC trading platform. If you fund your account and try to withdrawl or sell you Bitcoin that you legally bought. I’m thinking of legal actions for the theft they have done and many others are doing the same. Bitbuy has mobile apps for both Android and iOS devices, and both are highly rated. The only real complaint we found is that the mobile app will frequently log users out, requiring them to re-enter their log-in information.

It allows you to work directly with one of Bitbuy’s experienced traders. If you decide to buy Bitcoin, Ethereum, or other cryptocurrencies, you should know that the easiest way to do that is using fiat money. It works the same as paying for services using debit or credit cards, or via bank transfer. Compared to other leading cryptocurrency exchanges Bitbuy may not be the best option, however, it bitbuy review all depends on your personal needs. If you’re into buying, selling and storing cryptocurrencies, one of the things that you should consider is the number of supported cryptocurrencies that the platform offers. While there’s a variety of different factors that you need to take into account when choosing a cryptocurrency exchange platform, one of them is considered to be the most important one.

How To Open a Bitbuy Account

Designed for beginners and experienced traders alike, Bitbuy features a simple interface and a Pro Trade platform. The standard Bitbuy interface provides easy access to critical features, including staking, buying and selling, and the user’s portfolio. However, trading on this platform is straightforward but limited. While users can buy and sell digital currency, no charting tools or order types are available, making it challenging to dial in the specifics of a trade. Bitbuy is a fully regulated Canadian cryptocurrency exchange that lets users buy and sell crypto with CAD. However, while the platform is beginner-friendly, it lacks features meaning it’s unlikely to appeal to traders looking for advanced tools.

Their servers are secured across multiple world class cloud providers and disaster recovery locations. For the experienced traders, Bitbuy has a Pro Trade feature that displays much more information than the Express Trade option. It includes advanced charts by TradingView, as well as limit and market orders.

Over 1,500 businesses have already entrusted their crypto dealings to this company. Bitbuy was launched in 2016 and quickly became one of the most prominent Canadian platforms for buying and selling crypto. You can use Interac and Bank wire transfer to fund your accounts.

Use the API to automate trades with high-frequency trading and live exchange rates. Let’s find out what services Bitbuy offers, that make it the preferred exchange of 350,000+ Canadian crypto investors. Get access to multiple fiat currencies and advanced trading tools. Although its services are still limited to the Canadian market, it is likely to scale the business to foreign markets in the future.

So, whether you want to learn about Bitget copy trading, crypto trends, or blockchain basics, you’ll find enough articles, guides, and videos to equip yourself with the knowledge you need. 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 button within your account after logging in. Once done, check the reCAPTCHA box and solve the human-test challenge then click the button. You will be redirected to the phone verification screen where you will enter the code you received on your phone.

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