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Is Bitbuy The Perfect Crypto Trading Hub For Canadians?
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. It provides the essential tools to buy, sell, and manage digital assets within a secure, Canadian-regulated environment.
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Pros
Regulated and compliant with Canadian laws.
Free fiat deposits for all users.
Strong security with 95% cold storage.
User-friendly interface for easy trading.
Transparent and competitive fee structure.
Cons
Available only to Canadian residents.
Limited selection of cryptocurrencies.
No live chat or phone support.
Supported Cryptocurrencies
65+ digital assets supported
Fiat Currencies Accepted
CAD for crypto deposits
Trading Volume and Liquidity
$7 billion
Number of users
900,000 registered users
Customer support
Online forms, Help articles
Fees
Spread and Maker/Taker fee structure
Highlights
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. Users can buy, sell, stake, and hold more than 60 popular coins, as well as access both standard and advanced trading options.
The exchange is a regulated entity in Canada and places strong emphasis on security. The majority of customer funds is held offline and is insured against risks like theft or cyberattacks.
They provide live order books, fast funding and withdrawals, and well-designed crypto wallet services.
Traders with specialized needs can access the platform’s private wealth, corporate accounts, and OTC services. Everything is backed by intuitive wallet management, portfolio tracking, and seamless Canadian dollar funding and withdrawals.
Fees & Costs
Bitbuy has no membership or account maintenance fees. Users only pay trading fees, withdrawal fees, and payment-specific charges. Advanced users enjoy volume-based discounts.
Spot trading fees
Each trade made on the platform includes a spread fee. This fee ranges between 0.5% and 1.85%, depending on the asset.
Bitbuy Pro Trade users pay maker and taker fees, which are usually 0.50%. High-volume traders benefit from a tiered fee structure that progressively lowers their fees based on their 90-day trading volume.
Instant buy/sell fees
Bitbuy Express Trade users can buy cryptocurrencies instantly using fiat currency. The fee for the purchase is incorporated in the spread. The cost of the transaction, including the spread, is transparent and displayed at the time of the quote.
Crypto and fiat (CAD) deposits are free, while withdrawals are subject to fees. Crypto withdrawal fees vary based on the asset, are subject to network (gas) fees, and have a small markup. CAD withdrawals via Interac e-Transfer are free, while bank/wire transfers are subject to a 1.5% fee.
Hidden fees
While the platform is transparent regarding fees, there are several indirect costs users may be forced to pay. Spread fees may increase during adverse market conditions or during periods of low liquidity.
Users’ profits may be affected by foreign exchange fees when purchasing digital assets in CAD for assets priced in USD. Staking rewards are also subject to a commission of up to 30%.
Security & Regulation
Close to a million traders based in Canada traded over $7 billion on the platform. This is mainly due to their flawless safety record and robust security measures, which all contribute to its reputation as one of the safest cryptocurrency exchanges in the world.
Storage & custody
All crypto on the platform is backed one-to-one and held in cold storage. Their licensed cold storage custodians carry a combined $680 million in insurance, and cash holdings are covered up to $1 million by the Canadian Investment Protection Fund.
The platform uses smart crypto wallet infrastructure, which separates funds into hot, warm, and cold crypto wallets.
Account security
All user accounts must have two-factor authentication. The exchange explicitly cautions against enabling SMS 2FA due to SIM swap risks. They also enforce strict compliance with Canadian Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements.
Audits & compliance
The platform was one of the first crypto exchanges to issue proof of reserve audits and has published them annually since 2019. They conduct mostly internal security audits. This is in addition to hiring third-party security firms to perform annual security audits to ensure their systems are up to standard.
Regulatory licenses
Bitbuy is committed to regulatory compliance in Canada. They operate under Coin Square Markets Ltd. (CCML), which is a member of the Canadian Investment Regulatory Organization (CIRO). This is the highest level of regulatory status a crypto platform can achieve in Canada.
Their registration with the Ontario Securities Commission (OSC) and Canadian Securities Administrators (CSA) works to create a framework for investor protection. This ensures the exchange provides clear information to customers regarding the assets and risks associated with trading. They are also registered with FINTRAC as a money service business.
Canada flag with bitcoin money in front of modern building city.
Past incidents & mitigation
The exchange has never been hacked or had major security breaches.
Features & Tools
Bitbuy’s trading features solidify its position as one of the best cryptocurrency exchanges available.
Trading features
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. This, coupled with recuring orders, allow users to automate their trading strategies and not have their decisions swayed by volatile market conditions.
The platform’s portfolio analytics tools allow investors to track their investments with detailed performance metrics. These metrics are straightforward and allow users to make informed decisions regarding their investment portfolios.
They also have an academy featuring a library of tutorials and education guides allowing users to maximize what the platform has to offer.
Staking & earnings
Users can stake several proof-of-stake assets on the platform. These include Ethereum, Solana, and Cardano. Rewards are auto-compounded and there are no lock-up periods. Fees on rewards are applicable.
Mobile app
The mobile app, available on iOS and Android, lets users trade and manage their portfolios on the go. They can buy, sell, stake, and manage crypto with clear navigation and fast CAD funding. The app supports both Express Trade for simple orders and Pro Trade for advanced charting and order types, along with conveniences like dark mode and biometric login.
Express Trade and Pro Trade
As previoulsy mentioned, traders can choose between two platform versions tailored to their needs.
Express Trade provides a clean, beginner-friendly interface for quick, no-frills buying and selling. Pro Trade offers detailed charts, live order books, and advanced order types for users who want more in-depth market insight and more control. Both options are available on mobile and desktop.
Feature
Express Trade
Pro Trade
User Interface
Simple, beginner-friendly, uncluttered
Detailed, advanced, designed for experienced users
Fees
Standard, flat trading fees
Lower fees for advanced options and orders
Order Types
Market orders only
Market and limit orders; live order book
Charting Tools
Basic charts, price overview
Advanced charting, market depth, live stats
Ideal Use Case
Quick buys/sells, easy access
Advanced trading, market analysis, more control
Institutional & API Tools
The platform offers specialized services to advanced traders and institutional clients through its Private Wealth and Corporate Solutions. These services center around an over-the-counter (OTC) trading desk.
OTC services include a dedicated account manager and deep liquidity, which allows for large-volume trades with zero slippage. Quantitative traders can also access the platform’s advanced API to create sophisticated automated trading and financial technology development.
Supported Assets & Markets
You can buy, sell, and hold 60 carefully selected cryptocurrencies on Bitbuy, all of which are available in Canadian dollars for easy funding and withdrawals. The platform focuses on established and liquid coins, so you get reliable access to the most popular digital assets without the clutter of obscure tokens.
Cryptocurrencies & tokens
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. Several altcoins are also available, including BNB, Litecoin, and Polygon.
Fiat pairs
All assets on the platform are primarily traded against the Canadian dollar (CAD). Users of their OTC services have the option to trade in United States dollars.
Geographic availability
The platform is only available in Canada.
Usability & User Experience
Our Bitbuy exchange review found that the platform balances simplicity for beginners without compromising functionality for experienced traders.
Desktop & web interface
Its Express Trade interface is clean and intuitive, allowing users to swiftly trade cryptocurrencies. It’s perfect for users who buy and sell assets without needing to navigate complex market data.
The Pro Trade interface is what you’d expect from professional trading interfaces. It features advanced charting tools, live order books, and allows for advanced order types. Admittedly, it may be intimidating for new traders who are unfamiliar with crypto trading.
Mobile app experience
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. The interface is uncluttered and comes with instructions, which are invaluable to new users.
Once users are comfortable trading and want a more complete experience, they can seamlessly switch between the Express and Pro modes.
Learning curve
While the Express Trade version of the exchange is easy to navigate, the Pro Trade platform can be a bit more intimidating. Thankfully, their knowledge base features many helpful guides users can consult if they face challenges.
Customer support
Support is available through an online contact form and email, providing users with assistance on account issues, deposits, and trading. There’s no live chat or phone support for regular users, but comprehensive help articles and a web support center are available to guide you through platform features and resolve common questions.
They do provide premium support to private wealth, OTC, and corporate clients. These users get direct access to dedicated account managers and can speak with live traders by phone during extended business hours.
How to Set Up a Bitbuy Exchange Account
Once your identity is verified, which is usually instant, you’ll be ready to start trading. If a manual identity review is needed when documents can’t be verified automatically, the process takes between 1 and 3 business days to complete.
History and Background
Bitbuy was founded as InstaBT in 2016 by Adam Goldman and Ademar Gonzales as part of a company called First Ledger Corporation. Tommy Dolan and Jeremy Murray were also part of their original founders of the platform.
The company quickly recognized the growing demand among Canadians for a straightforward and secure way to access cryptocurrencies.
Milestones & growth
As demand rose, the platform grew its offerings, rebranding to its current name and expanding its services beyond basic Bitcoin transactions to include a broader range of cryptocurrencies and features.
In 2021, they became the first crypto platform in Canada to be regulated as both a marketplace and a restricted dealer, marking a significant milestone. A few years later, in 2024, they acquired Bitstamp’s Canadian client base, which instantly brought in over 100,000 customers.
Reputation & public events
The platform has earned a solid reputation for providing secure, compliant, and transparent exchange for Canadians. Their registration with several regulatory bodies puts their customers’s minds at ease, while their status as a regulated marketplace means trades are matched on a live order book.
Bitbuy Alternatives
Bitbiy is great but it may not meet all your needs. If you’re curious about how it compares against other popular exchanges, check out our informative crypto exchange comparisons.
Exchange
Ideal For
Fees & Pricing
Security Features
Regulation & Security
Bitbuy
Canadian traders
Flat fees
95% cold storage
OSC regulated (Canada)
Final Thoughts & Verdict
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. The platform is highly accessible for beginners, while advanced traders can take full advantage of the Pro Trade options.
Although some competitors provide a wider range of cryptocurrencies, lower fees, or more sophisticated crypto tools, this exchange delivers a secure, fully compliant environment for buying and selling crypto.
FAQs
No. It is exclusively for Canadian residents and requires account verification with Canadian documentation.
e-Transfers are typically processed within a few hours, though in some cases it can take up to one business day for funds to appear.
They charge a 1.5% fee for CAD bank and wire withdrawals. Crypto withdrawal fees vary by asset and are clearly listed before confirming your transaction.
Withdrawal issues can result from incomplete verification, pending security reviews, network congestion, or insufficient funds. Check your account status or contact support for specific guidance.
Bitbuy is great for Canadians seeking simplicity and strong local compliance, whereas Coinbase offers broader coin support and advanced features. The best choice depends on your location and trading needs.
