Bitbuy Review July 2023 Canadas Best Cryptocurrency Broker

To entice its prospective institutional clients, the exchange has invested heavily in its infrastructure and partnerships, including using BitGo as its custody provider for corporate accounts. Bitbuy Wallets show you all current holdings across all currencies. The company claims to hold 95% of users funds in cold-storage (i.e. offline) to optimize security.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen. Those who are unhappy have several complaints including the amount of “red tape” now involved since Bitbuy became regulated and compliant with the Ontario Securities Commission. Anything slightly suspicious on your account will result in your account being frozen.

Bitbuy Reviews

One platform that has been gathering traction in the region is Bitbuy. But how does it compare to mainstream exchanges like Kraken and Binance? Throughout this Bitbuy review, we’ll be taking a detailed look at the exchange, exploring its features, security measures, and ease of use. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

I’ve been using this exchange for about a year and it works fine. Once had to deal with customer service for an issue and it was resolved quickly. I like how they have Google authenticator as an option for 2 step verification. The first thing you’ll notice about Pro Trade is the sophisticated https://forex-review.net/bitbuy-crypto/ user interface, which employs plenty of in-depth charts and real-time market data. Customization is available so you can choose how you want to view your trading screen. Bitbuy offers an OTC trading desk for Pro users who wish to make large trades of $25,000 and up.

Bitbuy Review: PROS

Most Interac e-Transfers will settle within the same day, and, in some cases, several hours. What we also found encouraging is the Bitbuy regularly responds to any queries on this subreddit and has at times also asked users for their input on any potential changes they may want to see. If you have been using Bitbuy and you found the experience great then you can easily refer your friends and acquaintances and earn a referral commission.

On the Express Trade platform, you will be charged 0.5% fees for every transaction. On the Pro Trade platform, the fee depends on the kind of order you place. If you are a maker (if you place limit orders), the fee is 0.20%.

How Do I Open An Account?

As per its website, it utilizes “industry-leading security systems” to protect your account, including a 95% cold-storage policy and 2-factor authentication. The sign-up link automatically applies the $20 promotion offer when you meet the eligibility requirements (i.e. an initial $250 deposit). It has been used by more than 400,000 Canadians to buy and sell over $5 billion worth of cryptocurrency assets.

• If you’re serious about trading cryptocurrency, you’ll want to have a Bitbuy account to do so.
• It also provides access to many more cryptocurrencies than the Express Trade mode.
• They keep saying that they are federally regulated but that means nothing.
• What we also found encouraging is the Bitbuy regularly responds to any queries on this subreddit and has at times also asked users for their input on any potential changes they may want to see.
• Bitbuy is a fully regulated exchange located in Toronto, Canada.

The biggest advantage to using the Pro trade feature is that traders have more control over the price at which they enter or exit their positions and how much they pay for the trades. Additionally, traders can save on trading fees as the Pro trade feature is much cheaper than the Express trade. Bitbuy offers a convenient streamlined service, it concentrates on fulfilling its mission rather than trying to deliver too many services.

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

This Bitbuy review covers how it works, the crypto-assets offered, fees, whether it is safe, and how it compares to competitors like Coinsmart, NDAX, Coinbase, Shakepay, and Wealthsimple Crypto. If you want more control over your trading, Bitbuy’s Pro Trading feature provides an alternative to simple Express Trading.With Pro Trading, you can place market and limit orders. You also get a more comprehensive dashboard rather than just a quote screen. This provides more in-depth trading data and you can also add different indicators if you’re doing technical analysis. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. Below that provide your phone number and create a unique username and password.

Get home insurance in 5 minutes for as little as $12/month. Best of all, Hardbacon users receive a $20 account credit when they choose Square One. Depositing funds on Bitbuy can take anywhere between 0 to 6 hours. Newton, on the other hand finishes the process in 5-30 minutes and Shakepay gets it done almost instantly. Bitbuy requires a minimum deposit of C$100, which is quite a high figure compared to other platforms.