98/100
Rating
Go to Bitbuy Crypto Exchange
Highlights
  • Tight spreads
  • Low trading fees
  • Impressive crypto payment selection

Bitbuy Review 2022

Is Bitbuy Safe & Legit?

There are many popular cryptocurrency exchanges worldwide, but we wanted to focus on Bitbuy to determine if it makes the top list. As cryptocurrencies are dominating the financial world, how does Bitbuy do?

At TradersBest.com, our expert team created this Bitbuy review to discover how reliable this cryptocurrency exchange is for customers. So if you’re unfamiliar with using cryptos or are an avid crypto enthusiast, this review will give you an insight into a popular Canada-based crypto platform.

Company
CompanyBitbuy Technologies Inc.
Headquarter110 Cumberland St, Toronto, ON M5V 3V5, Canada
Year of Founding-
CEO-
Web Sitebitbuy.ca
Available Languages-
Customer Support
Email[email protected]
Phone-
Licence
IIROC - Investment Industry Regulatory Organization of Canada
Verified by-
Payment Methods
Bitcoin
USD Coin
Ethereum
Litecoin
Eos
Stellar
+
Show More

Offers and New Customer Experience - Simple to follow registering process

If customers are interested in knowing more about the Bitbuy experience and rating for new customers, we highlighted a few sign-up details to consider before registering an account. For individuals unfamiliar with how to buy cryptocurrencies, our Bitbuy review discovered the platform has a simple-to-follow process to get your hands on some cryptos.

Customers will need to follow a few steps before accessing the crypto exchange. These include clicking on the ‘create a new account’ tab and inputting your details. The platform has a simple KYC (know your customer) process, where they’ll be asked to verify their information using a photo ID like a driver’s license or birth certificate, so keep that handy. Members can then choose their preferred payment method to purchase or sell cryptocurrencies from their impressive selection. These include wire transfer, cryptocurrencies and Interac e-transfer options.

Once the account details and payment are set up, customers have almost immediate access to the exchange, accessible throughout the day.

Usability - Easy to navigate design

Our Bitbuy review discovered the platform has a simple layout, perfect for new customers to cryptocurrency exchanges. The design uses a white and dark blue color scheme which isn’t distracting the customer from purchasing their cryptos. Individuals may be wondering, is the Bitbuy platform safe, as there are several top online cryptocurrency exchanges, so what makes this one more secure?

At TradersBest, our team discovered in this Bitbuy review that this platform has an excellent reputation for customer performance. The design is easy to use, making the registering process for new customers a breeze. The platform can also work well during high volume trading hours, so even if members are planning to buy or sell crypto, they can do so in real-time without any glitches or hassle. This ensures they’re getting the best prices on digital coins in this volatile market.

A mobile app is available

Customers may also want to ensure their funds are safe on a mobile app, and thankfully Bitbuy offers this to all customers who decide to exchange on the move. The app makes buying and selling streamlined and encourages customers to diversify their portfolios as they’ll be using it more frequently, so they have access to more cryptos.

Accounts - Designed for beginner and advanced traders

Bitbuy is a crypto exchange that appeals to traders of different skill levels. Our team found on this Bitbuy review that they offer different account types to suit customers’ needs with varying levels of skill. For individuals considering opening a Bitbuy crypto account, you should consider your level before committing to a platform.

Bitbuy for newbies

Traders who are getting started in the online crypto market can choose a basic account type, allowing them to start trading BTC with as little as $50. This is perfect for those who want to start with smaller budgets, so they will have access to a basic package of features to take their performance to the next level. Each member will be allowed to contact the customer service team. Still, if new customers want additional help, they can browse through the beginner tools and resources found on the platform, such as low trading fees, useful market charts and simplified order types.

Bitbuy Pro account 

For individuals who are more advanced in their cryptocurrency trading journey, they can access the Bitbuy pro account that we discovered in our Bitbuy review. Customers will have access to even lower trading fees. If customers use the Bitbuy pro account, their limit orders cost 0.1% in trading fees, and market orders cost 0.2% in trading fees. This means customers will need to start with a more significant deposit amount and be able to meet the trading requirement each month to stay in the Bitbuy pro category. Advanced features like additional charting tools, more order type options and low spreads are all included in the pro account.

Trading Platforms - Reliable platform options

Traders looking for a crypto exchange accessible on a mobile device and a desktop site with the same efficient service can look no further when it comes to our Bitbuy review. At TradersBest, we looked at other platforms, like our WBroker review, but found Bitbuy had an excellent mobile app that was free to download for customers.

Secure trading on the go

Customers may be wondering if Bitbuy is reliable, and we can assure you their app can confirm they have one of the best services for crypto enthusiasts in the industry. Our Bitbuy review found that the mobile app is accessible on an Android or Apple device, perfect for customers who want to trade on the move and not be tied down to a desktop site. They can monitor the volatile crypto market more closely, as they’ll have access any time of the day. It also includes biometric security, so customers can have peace of mind knowing their funds are in a secure place.

Web-based platform

Additionally, traders can benefit from the web-based platform as it is one of the fastest services for all members. Their platform is up to date to keep up with the latest crypto developments, making it an excellent choice for members who use the platform regularly.

Trading Payments - Our Bitbuy review highlights different payment methods

At TradersBest, we know how important payment method options are for customers looking to join the platform. So our Bitbuy review detailed a few different options for depositing and withdrawing funds and which one we think potential traders should consider.

Crypto deposits

Customers can use an excellent selection of cryptocurrencies to deposit into their crypto exchange to buy more. These include Bitcoin, Bitcoin Cash, Stellar Lumens, Polkadot, Litecoin, Cardano and Dogecoin. As mentioned in our Bitbuy review, depositing using cryptocurrencies means customers won’t have to worry about those fees. However, withdrawals have costs depending on the digital coin you use.

Fiat options

Fiat currency options are more accessible than crypto, but they come with their own set of charges. For example, credit card users may be charged higher withdrawal fees as there may be additional internal checks the card company needs to take to ensure the funds are being processed securely.

Bitcoin
USD Coin
Ethereum
Litecoin
Eos
+ 7

Fees – Highly competitive fees

Bitbuy states to have some of the best fees available compared to other cryptocurrency exchanges. Our Bitbuy review looked into a few examples of what costs customers can expect if they decide to join Bitbuy.

Deposit and withdrawal fees

When customers decide to fund their accounts using cryptocurrencies, they’ll be happy to know they won’t be charged any fees. However, crypto withdrawals do come with varying charges, depending on which crypto they’re using. For example, if a trader cashes out Bitcoin, it will cost them approximately 0.00025 BTC. Similarly, if they’re looking to withdraw Ethereum, this could cost around 0.007ETH.

Fiat currencies

For fiat currency deposits and withdrawals using bank wire or Interac e-transfer, traders will be charged a fee ranging from 0.5% to 1.5%, depending on their preferred payment method. Our Bitbuy review found that these fees were competitive compared to the industry average. Still, they also encourage traders to use digital currency options, as they’ll get more out of their funds on the exchange in the long run.

In addition, some online crypto exchanges aren’t that reliable, so they could claim to have low fees but not specify other hidden costs on their site. To avoid Bitbuy scams, potential customers should look at their terms and conditions to get the full list of charges, including their trading fees.

Customer Service - Multiple support options

Our Bitbuy review found that customer service is one of the key features that make up a top online crypto exchange. At TradersBest, we created a Questrade review to determine whether their customer support options were up to scratch, and we’re doing the same here at Bitbuy.

Support page

One of the popular customer service selections is a support page. This will usually answer customers’ frequently asked questions and guide members to different areas of the site for more details. If a customer cannot find the response, they can reach out via email address.

Email

Using the email option is one of the reliable ways customers can reach the support team, as we discovered in our Bitbuy review. However, members may not receive a reply immediately as some platforms offer a live chat option. They can still benefit from an in-depth response from Bitbuy’s knowledgeable team within a few hours. In addition, if you’re not looking for a detailed reply, you can reach out to their social media teams on Twitter or Reddit to see the latest crypto exchange news and discussions.

Regulation and Deposit Insurance - A fully regulated platform

For crypto traders reading our Bitbuy reviews and wondering if there is any risk to their details and funds safety, they can rest assured there is an advanced system to keep the exchange secure. Our Bitbuy review found that the company is known to have a cold storage policy. This ensures that 95% of the users’ cryptos are not held online. So any opportunity for security breaches and hackers is avoided.

IIROC - Investment Industry Regulatory Organization of Canada

Bitbuy follows the Canadian crypto exchange regulations by having its own geo-tracking system. So members need to be in the region to access the platform. They’re also registered with FINTRAC, (Financial Transactions and Reports Analysis Center of Canada), a Money Services Business, to ensure any security threats are not an issue.

Additional Features - A crypto-focused platform

Bitbuy is one of the best places for customers to diversify how they use their digital coins. We discovered in our Bitbuy review that around 17 cryptos are being supported. This is perfect for individuals who don’t want to use the most common Bitcoin.

Bitbuy Crypto Exchange

Bitbuy Crypto Exchange - At a glance

Low spreads

This Bitbuy review discovered the crypto exchange has some of the narrowest spreads per trade for the online trading industry in Canada. There was an average of 0.3% per trade, perfect for users who want to start with a small deposit and see the majority of their funds develop as their performance improves. We recommend that customers look at the small print, as there could be even tighter spreads depending on how much you’re willing to trade and which crypto you want to trade on.

Competitive fees

If crypto traders are looking for some of the lowest fees in Canada, then look no further when it comes to our Bitbuy review. The operators’ aims are for customers to build their performance and development the more they use the site. So whether members want to make the most of trading on the go with the streamlined apps, customers can diversify their crypto portfolio by trading different digital coins on the market. Their budget can go further as the trading charges are low at around 0.1 to 0.2%.

Efficient crypto trading

Bitbuy made the crypto exchange cater to different crypto trading strategies. So whether customers want to open more than one position on the market, this is possible using the platform. It works well during busy trading hours, ensuring there aren’t any lagging issues or glitches so customers can monitor the market as closely as possible in real-time. Traders who want to try out more advanced features also have the opportunity to do so on the site. You can trade the most popular digital coins and a few others and even try out chart tools and features that could take your trading experience to the next level.

Mobile devices

We mentioned how beneficial having a mobile app is for Bitbuy customers, but this is great for those looking at long-term and short-term strategies. If you’ve decided you want to open a position for a cryptocurrency when you see the price in the market is down. And if you plan to close the position once it’s seen some significant increase in value, you should be able to do that on Bitbuy. In contrast, if you’re thinking of a short-term strategy by monitoring the market closely to capitalize on any frequent patterns or trends, it’s better to do this when you have the platform handy. Members can use different features and chart tools, just like on the desktop site, to ensure they make the most of trading on the move.

98/100
Rating
Bitbuy Highlights
  • Tight spreads
  • Low trading fees
  • Impressive crypto payment selection
Go to Bitbuy

Bitbuy review FAQ

❓Is Bitbuy legit?

If you’re new to the online casino world, finding the most reliable crypto exchange for you and your trading needs can be a challenge. At TradersBest, our team created a FOREX.com review and a Bitbuy review to discover how trustworthy these platforms can be. To find out our results, check our website.

❗Which crypto exchange is the best in Canada?

When reading our Bitbuy review or our AvaTrade review, individuals might be wondering if these platforms can fulfill the customer’s needs in the long run. The best crypto exchange decision comes down to what you’re looking for in your online crypto journey. So if you’d like to know more about what the top exchanges need to be considered the best, check out our website.

✨How do I create a Bitbuy account?

For crypto enthusiasts looking to take their trading journey to the next level, we looked at a few crypto exchanges, including Bitbuy, in our Bitbuy review. To discover the full steps to register an account with them, read through our website.

Conclusion - Take advantage of Bitbuy’s reliable service

Overall, our Bitbuy review outlined how crypto trading can be efficient and straightforward using this exchange. Members can take advantage of the wide range of cryptocurrencies available and know that their funds are protected. Our website is full of reviews, like our Fortrade review, to highlight if other platforms offer the best service for new and experienced online crypto traders.

If you started this review thinking, what is Bitbuy and how do I know more about crypto exchanges?”, we hope this guide encourages you to start crypto trading. Consider registering an online exchange account and watch how your deposits can grow with your knowledge of the online crypto market in the long run. So why not give Bitbuy a try today.

98/100
Rating
Bitbuy Crypto Exchange
*****
Go to Bitbuy Crypto Exchange
Highlights
  • Tight spreads
  • Low trading fees
  • Impressive crypto payment selection

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