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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.