Bitbuy Review: Features, Pros & Cons, & Pricing
Ditulis pada 20 Oct 2022 oleh AturToko
It is known for its competitive trading fees and excellent customer support. It’s disheartening to encounter such obstacles when we finally have alternative methods of managing and safeguarding our finances, free from reliance on traditional sluggish banking institutions. Why would they allow me to deposit so much money knowing that they were not going to allow me to withdraw?
Pro trade
Once KYC is complete, all Bitbuy features will be unlocked. Creating a Bitbuy account is a simple process that anyone can complete within a few minutes. Initially, you must input and confirm your email address and phone number. However, before bitbuy canada review it’s possible to trade or deposit on Bitbuy, any customer must complete Know-Your-Customer (KYC) verification. Bitbuy has included a beginner-centric feature called Express Trade, enabling users to buy and sell crypto without hassle.
Plus, both Coinbase and Gemini are branching into NFTs, so the platforms will have even more options to invest in digital assets. You can actually use Express and Pro Trading through the mobile app. 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.
Regulated and insured, Bitbuy — streamlined for Canadian traders — gives its users peace of mind. While standard fees are comparable, Bitbuy Pro users get access to some of the most competitive fees on the market. The number of cryptocurrency trading options available is somewhat limited, with Bitbuy sticking to the most popular coins, but their selection should suffice for the average crypto trader.
Bitbuy deposit methods
As a Canadian who wants to deal with Canadian exchanges it actually pains me to make this review but I just want to warn others. Are you trying to decide which crypto exchange you should use to buy and sell crypto? Find out why Coinbase is one of the most well known exchanges in…
- Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication.
- There is no minimum deposit for receiving crypto directly into your account.
- Bitbuy provides insurance for digital assets held in its cold storage, offering coverage against certain theft events.
- Bitbuy offers staking services, allowing traders to expand their cryptocurrency investments and bypassing the intricacies of configuring individual nodes.
In total, this trade cost me net 1.88% thanks to the higher selling price. I prefunded my account with $50 CAD by eTransfer, which arrived in less than 5 minutes. The markup was quite low at just 0.16% above BTC’s live market price. Yes, the Express Trade platform has a 0.50% fee for buying and selling all available cryptocurrencies.
- What stands out is the absence of inactivity or maintenance fees, further supporting cost-effective holding for both frequent and passive users.
- Cryptocurrency will be one of the main medium exchanges in the future.
- The number of cryptocurrency trading options available is somewhat limited, with Bitbuy sticking to the most popular coins, but their selection should suffice for the average crypto trader.
My account still pending from June 5
But it’s still a nice feature to have and shows how Bitbuy caters to beginner and serious crypto investors alike. Bitbuy is a Toronto-based cryptocurrency exchange that began in 2016. And the acquisition finalized a few months later in March.With regulation under wraps and an exciting acquisition complete, Bitbuy is establishing itself as one of the best exchanges in Canada.
Account Opening Process
Withdrawal options are limited and none of them are free. I was also disappointed to find that you can have your funds deposited directly to your account by Electronic Funds Transfer. The only options eTransfer, Wire Transfer, or transfering your crypto to an extern wallet.
While the Express Trade platform lacks analytical tools, its simplicity makes it excellent for new investors making their first foray into the crypto space. 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. Bitbuy maintains a solid security record since its launch in 2016. So far, the platform has not reported any major security incident, which has become a testament to its focus on providing secure crypto brokerage, trading, and wallet services.
Account Opening & Deposits
This platform is also located in Toronto and offers double the cryptocurrencies. The exchange is also quite popular with over one million regular traders. Overall, Bitbuy is known for providing users with an easy-to-use exchange that’s ideal for both beginner and experienced traders and investors.
Bitbuy Review: The Company’s Background
Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Because Bitbuy offers features tailored to most investors, the platform is an excellent entry point to the cryptocurrency space.
Bitbuy enjoys a positive reputation, with strong user reviews and no history of major security incidents, making it, in my view, one of the most reliable options for Canadian crypto investors. For more experienced traders, Bitbuy’s Pro Trade platform is the way to go. It offers a more complex interface with live charting, price movements, order books, and advanced order types, making it ideal for those who want to dig deeper into the market. First, enter your email address, phone number and password. Bitbuy will send a code to your phone which you’ll need to access your account. Before you can start buying crypto, you’ll need to go through the verification process.