Bitbuy Review 2025: Safety, Pros & Cons

After some time, centralized exchanges started charging crazy fees to their users. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange.

For users, this means direct access to decentralized staking pools or automated DeFi protocols is not available through the platform. That said, active portfolio diversifiers and users looking for yield-generating opportunities may find the platform’s offering too narrow. Bitbuy’s focus on spot trading makes it straightforward and accessible for users prioritizing simple buy-and-hold or periodic trading. Users must use external providers, meaning Bitbuy does not charge or collect any specific staking or lending service fees. Buy/sell fees are fixed, with minimal spread markups on major coins, and there are no overnight or hidden custody fees.

Bitbuy exchange’s key features

I took the time to put Bitbuy through its paces using my own funds—buying and selling crypto, navigating both desktop and mobile platforms, and directly testing all of its main features. The platform was established in 2016, has grown to serve over 450,000 Canadians, and is registered as a Money Services Business with FINTRAC, providing high reliability and compliance for users. Bitbuy maintains multiple channels through which its users can get help and support. All of these points combined make Bitbuy a solid option for Canadian-based crypto investors looking for a reputable platform to fulfill their investment needs.

Bitbuy Review 2025: Pros, Cons, Fees, and Alternatives

For volume under $250k, the maker/taker fees are 1.50%, which is relatively high compared to other exchanges. As a Canadian cryptocurrency exchange founded in 2016, Bitbuy is tailored specifically for Canadians, offering both a beginner-friendly platform and advanced tools for experienced investors. Their transfer fees are ridiculous, do not use this platform. Welcome to one of the best Canadian cryptocurrency trading platforms. Bitbuy charges a 0% fee for wire transfer deposits, 0% fee for interac e-transfer deposits and a 0% (network fees apply) fee for crypto deposits.

• The platform is transparent about its fee schedule and displays all charges before order confirmation.
• To deposit, head to your account dashboard, hit the “deposit” button, and you’ll be presented with a list of available options.
• By offering a diverse range of cryptocurrencies, an exchange can mitigate the risk of concentrated market manipulation of any single coin or token.

I’ve never had any problems with…

The platform is used to broker direct trades between the buyers and sellers without listing them on its order book. The biggest drawback to using the Express Trade service, however, is the cost as it is significantly more expensive to buy or sell cryptocurrency this way than it is to use the Pro interface. The Express trade feature supports local Canadian dollars through which the transactions are settled. The exchange is run and operated by Bitbuy Technologies Inc., a division of crypto investment company First Ledger Corp. Cryptocurrency will be one of the main medium exchanges in the future. At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry.

Bitbuy Review Buy & Sell Crypto in Canada Fees, Pros, Cons

There was a network fee of about $10 to move the Bitcoin, which meant I ended up with a total of $89.20 worth in my wallet. It’s possible that Bitbuy’s new fee structure hasn’t been fully applied to my transaction yet, or perhaps there are other factors at play affecting the fee calculation. For comparison, Crypto.com charges 0.4%, NDAX charges 0.2%, and Bitget charges just 0.1% for regular users. However, they’ve recently adjusted their fee structure. It also helps Bitbuy determine your trading limits. The purpose of this financial profile is to assess your “suitability” for investing in crypto.

How does Bitbuy earn money (trading fees, spreads, commissions)?

The main company’s goal was and still is to provide easy and secure access to Bitcoin and other popular cryptocurrencies. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies. This is particularly true for Canadian traders and is shown in the number of users that the company has.

Comparing Bitbuy to Other Leading Crypto Exchanges

Finally they gime me 5 days to retired my bitcoin, not by transferring it to my cold wallet no, they force you to buy Canadian $ and then send it back to bank account. I’m still not allowed to withdraw cryptocurrency from my account after I have meet all the requirements and after the end of the 7 days hold My guidance would be select another crypto exchange ..these guys are proving they are very willing to take your money but will make it extremely difficult to withdraw. Get low fees & top security at Bitbuy.ca when you buy Bitcoin, Ethereum, Litecoin & more.

• Processing times are generally quick, with Interac e-Transfers often completed within hours and crypto transfers depending on blockchain confirmation speeds.
• After you have had your account verified you will need to complete a risk profile.
• In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.
• There is a very high degree of risk involved in trading securities.
• There’s only one step left to start using the platform.

Relatively Low Fees

But if you want to pay in anything other than Canadian dollars, or you’re looking for advanced trading features like margin or options trading, you’ll need to look elsewhere. It has a lot to offer crypto investors.

Bitbuy offers insurance on digital assets held in custody, which gives me confidence in the platform’s commitment to fund security. Compared to some global exchanges with extensive wallet feature sets, Bitbuy focuses on simplicity and security, which is ideal for Canadian retail users prioritizing protection and ease of use. Additional services play a crucial role in enriching the user experience on crypto platforms, providing features that can improve accessibility, security, and flexibility beyond core trading activities. To minimize costs on Bitbuy, consider using the Pro platform for larger trades to benefit from lower maker/taker fees, and plan fiat withdrawals to minimize frequency-based charges.

HelloSafe.ca offers site visitors information on insurance and personal finance products in compliance with applicable laws. The details and bonus amounts can vary, so check the referral section of your account for the latest terms. The platform also provides detailed FAQs and knowledge base resources for fast self-service solutions. Customers can reach Bitbuy’s support team via email and through a web-based help center, with support available during Canadian business hours.

Bitbuy offers relatively high fees, it can be used by Canadian citizens only, and you can find some concerning reviews online. The standard for trading fees is usually about 0.25%. Also, if FIAT funding isn’t what you’re looking for, you can choose to fund your account with cryptocurrencies. It means that you have to purchase them on the other platforms first and then transfer your coins to that specific platform that you want to continue using for trading.

The first step to creating a Bitbuy account is to visit the exchange’s website and begin the sign-up process. Additionally, the platform shares trading tips on its YouTube channel and other regular tidbits to its followers on social media. Fiat deposits and withdrawals also attract processing fees which vary depending on the amount transacted and the payment method used. Bitbuy has launched an intuitive mobile app bitbuy canada review that enables the platform’s users to access all the features available on the web interface through the easy-to-use mobile interface.

Strong Focus on Security

That’s slightly higher than an industry standard, however, way lower than many other platforms can offer. When using the ‘Express Trade’ feature, you will only pay 0.20% for each instant trade. Market makers are the ones who add liquidity to the market and increase the market depth, whereas market takers are those who seek liquidity and take it off the book. However, this issue only appears when depositing fiat money. That said if you decide to use the platform after reading this Bitbuy review, make sure to also get the mobile version as well.

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. Device and 2FA Authentication via Google Authenticator and Authy are in place for those trading through the platform. When it comes to security while trading with Bitbuy, they are also conscious of creating a secure environment.