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To this point, the majority of our assessments of cryptocurrency exchanges have focused largely on discussing crypto exchanges and trading platforms that were located in the United States and targeted to investors from that country. If you regularly invest in crypto, international exchanges like Binanceare better on fees, and trading limits aren’t always low for new users. Many leading crypto exchanges aren't available in Canada or don’t provide high starting trading limits for international users.Thankfully, Bitbuy provides Canadian investors with a much easier way to invest in cryptocurrencies. These users get direct access to dedicated account managers and can speak with live traders by phone during extended business hours. In the following years, the exchange expanded its services by integrating various additional elements to make cryptocurrencies accessible to Canadian users.

Commissions & Fees

Traders with specialized needs can access the platform’s private wealth, corporate accounts, and OTC services. Bitbuy crypto exchange is a straightforward, easy-to-use platform available on both mobile and desktop, ideal for anyone looking to manage cryptocurrencies without hassle. Bitbuy has become a go-to crypto exchange for Canadians since its launch in 2016, offering strong regulatory compliance, solid security, and a straightforward trading experience. All factors considered, Bitbuy does seem to offer a well-balanced platform for trading and investing in cryptocurrencies. As for the fee structure, the trading fee is slightly on the higher side, although it is unlikely to become a deal-breaker for the majority of traders. Note that both these account types offer access to Bitbuy Express and Bitbuy Pro trading platforms as well as to their renowned OTC desk.

The exchange is a regulated entity in Canada and places strong emphasis on security. Users can buy, sell, stake, and hold more than 60 popular coins, as well as access both standard and advanced trading options. Insights, news and analysis of the crypto market straight to your inbox

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Quantitative traders can also access the platform’s advanced API to create sophisticated automated trading and financial technology development. One of the platform’s strongest features is its Dollar-Cost Averaging which allows traders to invest a fix amount of money at regular intervals regardless of the asset’s price. Bitbuy’s trading features solidify its position as one of the best cryptocurrency exchanges available. Users’ profits may be affected by foreign exchange fees when purchasing digital assets in CAD for assets priced in USD.

For liquidity providers, the maker and taker fees are also 0.1% and 0.2% respectively if you have accumulated under $1.5m CAD in total maker fees paid in the previous 12 month period. If you are a Bitbuy ProTrade user or using an API client to trade, then there is a 0.1% maker fee along with a 0.2% taker fee. More than 99% of crypto on the exchange is held in cold storage.

Cryptocurrencies available on the platform include popular tokens like Bitcoin and Ripple, stablecoins such as Tether and USD Coin, and even meme coins like Dogecoin. Detailed, advanced, designed for experienced users They can buy, sell, stake, and manage crypto with clear navigation and fast CAD funding.

Slippage is one of the most significant parts of trading that experienced traders need to be aware of and be prepared to account for when they are doing so. Because it is the most significant cryptocurrency exchange in Canada, Bitbuy has established two distinctive service offerings that make it appropriate for novice as well as experienced crypto investors. Bitbuy is asserting itself as one of the best Canadian cryptocurrency exchanges. This is why using features like Bitbuy’s two-factor authentication and creating a secure password is important.Additionally, never hold significant amounts of cryptocurrency on any exchange unless you’re actively trading. Cold storage means holding assets offline rather than on an exchange or crypto wallet, making it practically impossible for hackers to access and drain Bitbuy’s funds.Bitbuy also has digital asset insurance under BitGo. One notable drawback of Bitbuy versus other popular cryptocurrency exchanges is how few coins it supports.However, Bitbuy largely makes up for this fact by making it easier for Canadians to invest in crypto.

• There’s a reason it’s one of the most popular players in Canada, and the future is certainly bright for this cryptocurrency exchange.
• Crypto withdrawal fees vary by asset and are clearly listed before confirming your transaction.
• This, coupled with recuring orders, allow users to automate their trading strategies and not have their decisions swayed by volatile market conditions.
• Many leading crypto exchanges aren’t available in Canada or don’t provide high starting trading limits for international users.Thankfully, Bitbuy provides Canadian investors with a much easier way to invest in cryptocurrencies.
• The Cult of Money does not include all companies or offers available in the marketplace.
• Each trade made on the platform includes a spread fee.

Fees & Costs

CAD withdrawals via Interac e-Transfer are free, while bank/wire transfers are subject to a 1.5% fee. The fee for the purchase is incorporated in the spread. This fee ranges between 0.5% and 1.85%, depending on the asset. It provides the essential tools to buy, sell, and manage digital assets within a secure, Canadian-regulated environment.

In reality, you would incur a loss if you tried to purchase and sell an item at the same moment, because you would be paying transaction fees on both. Because of this, it might be said that you are trading against the platform itself. If you want to use cryptocurrencies for deposits and withdrawals, you’ll still have to pay larger costs than you would with the vast majority of brokers in this industry. The Bitbuy trading platform is much like every other coin in that it has both positive and negative aspects. Although the platform’s security measures will be examined in greater depth later in this review, it is important to note that the techniques used by the platform are. FINTRAC is an additional regulatory organisation that focuses exclusively on brokerages and exchanges.

Bitbuy Balances Speed and Security

Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies. Here you will have your own dedicated account manager and OTC desk trader to assist and support you where needed. For trades of more than $50,000, you can utilize the Bitbuy OTC trading desk. Again this platform is available in your browser and you will have access to more charting data and order types for a highly-customizable experience. The most user-friendly and streamlined trading platform is Express Trade. There are several trading platform options available at Bitbuy.

It’s worth mulling over if you are from Canada and on the hunt for a reliable crypto exchange. This is true regardless of whether you’re a newbie or someone who has been in the crypto trading game since the dawn of the decentralized digital economy. These are ease of use, security (both technological and financial), quality of customer support, and fee structure. There are three main criteria you should primarily focus on while choosing a new crypto exchange. To add an extra layer of safety, and by extension, peace of mind to users, Bitbuy recently completed a comprehensive proof of reserves and security audit.

Customer Support

Once users are comfortable trading and want a more complete experience, they can seamlessly switch between the Express and Pro modes. The mobile app is everything you’d expect from a crypto trading application; it allows for buying and selling crypto in just a few clicks. Users of their OTC services have the option to trade in United States dollars.

• FINTRAC is Canada’s financial intelligence agency that monitors financial activity to detect illegal activity like money laundering.
• It’s a mid-sized exchange that promises users easy access to Bitcoin and other popular cryptocurrencies.
• As for the fee structure, the trading fee is slightly on the higher side, although it is unlikely to become a deal-breaker for the majority of traders.
• However, Pro Trading is better on the web version because it’s easier to view chart data and adjust technical indicators.However, the fact you can place snappy trades from your mobile phone is another small perk of using Bitbuy.
• There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals.

High-volume traders benefit from a tiered fee structure that progressively lowers their fees based on their 90-day trading volume. It’s a mid-sized exchange that promises users easy access to Bitcoin and other popular cryptocurrencies. “As easy as 1, 2, 3.” That’s the hook Canada-based Bitbuy uses to attract new users to its cryptocurrency investment and trading platform. They also provide good liquidity with a growing number of traders having traded more than $4 billion in cryptocurrency through the platform to date. Even though this is quite a limited selection, the exchange often makes additions to their assets selection based on the relevant cryptocurrencies available in the market.

It was first established in 2013 by Ademar Gonzalez and Adam Goldman, and it provides trading solutions for investors of all experience levels, from novices to seasoned pros. In this study of Bitbuy, we conduct an analysis of the platform and determine the categories of investors who would benefit most from using it. Many international exchanges don’t have any type of insurance with the exception of their own insurance funds, so this is another perk of using Bitbuy. Plus, both Coinbase and Gemini are branching into NFTs, so the platforms will have even more options to invest in digital assets.

Trading features

For instance, the user community has access to customer care 24 hours a day, seven days a week, for both straightforward and more involved concerns. It is important to note that the methods used by the platform are industry-standard, and this helps to ensure that the funds and data that are stored on the platform are kept as securely as is reasonably possible. As a result, Bitbuy needs to ensure that its security measures are always of the highest possible standard in order to protect itself from these dangers.

Audits & compliance

The exchange was established in 2016 and has grown to become a popular and trusted marketplace for Canadian crypto-traders with now more than 350,000 users. When compared to other of Canada’s other cryptocurrency exchanges, the platform’s trading volume is very high. Bitbuy Technologies Inc. is one of Canada’s largest cryptocurrency marketplaces, with over 400,000 registered Canadian users seeking https://forex-review.net/bitbuy-crypto/ to safely transact in digital asset trading. Bitbuy is easily one of the best crypto exchanges you can use if you’re based in Canada, offering everything you need to trade, hold, and stake digital assets.

However, Bitbuy has far less selection than other exchanges like Coinbase and Binance, which both support over 100 coins.Additionally, Bitbuy doesn’t offer stablecoin trading for assets like USDC, USDT, and DAI. This exchange offers numerous trading features, and with a quick onboarding process and high trading limits, Bitbuy is ideal for new and experienced crypto investors alike. Bitbuy is one of the largest Canadian cryptocurrency exchanges. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing. If you’re curious about how it compares against other popular exchanges, check out our informative crypto exchange comparisons.

When this happens, the purchase price of the item is higher than the selling price at any given time. Spreads are defined as the difference in price that exists between a bid price and an ask price. For instance, you’ll have to pay a mining charge to Bitbuy that can range from $1 to $20, on top of the gas money you’ll have to spend on the transaction. Compared to using a credit or debit card, which will have a larger cost, a bank transfer will have a lesser fee. Those customers who intend to use a currency other than Bitcoin to deposit funds into their Bitbuy accounts will be asked to pay this charge. Additionally, this can be an issue for those who wish to deposit their funds using a different currency because it requires them to pay a currency conversion fee.