BitBuy Review – The complete guide

BitBuy Review 2022

Bitbuy is an online cryptocurrency exchange that allows users to buy, trade, deposit, and withdraw cryptocurrencies. The Bitbuy platform now supports fifteen different cryptos. Bitbuy also has the largest number of CAD-to-crypto conversions of any exchange. In the not-too-distant future, more cryptos will be introduced. For anyone wishing to get into the crypto market in Canada, Bitbuy provides an easy-to-use exchange.

Bitbuy is based in Toronto, Canada, and was started in 2013 and incorporated as a Money Service Business (“MSB”) in 2016. Bitbuy is an “MSB” registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).

“FINTRAC” is a Canadian government regulatory entity tasked with assisting in the identification, prevention, and deterrent of money laundering and terrorism funding while also protecting the security of personal information under its control.

The Bitbuy exchange is well-known for its user-friendly platform, which is suitable for both beginner and experienced investors and traders. With charts, API connections, and a live order book, the exchange for everyone offers a transparent and low-fee approach.

Why you should use BitBuy?

The following are some of the reasons why you should start trading cryptos with Bitbuy:

● For new clients, instant verification is provided.
● Trading platform that is simple to use (desktop and mobile)
● Deposits are made rather quickly.
● 95% cold storage policy
● Provides a referral program
● Provides a real-time order book.

Buy Bitcoin with BitBuy

BitBuy: General overview

Bitbuy is a well-established platform with a significant amount of industry experience. Adam Goldman and Ademar Gonzalez created the startup in 2016. It included many cryptocurrencies at the time, as well as an OTC desk for high-volume dealers. The platform was renovated and relaunched in 2018, making it much more user-friendly and simple to use.

Due to its customer-centric emphasis and openness, the firm has secured its place as the largest cryptocurrency exchange in Canada today. Furthermore, because it is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and works as a Money Services Business, it is controlled by Canadian federal authorities (MSB).

Although its services are now confined to the Canadian market, the company is anticipated to expand internationally in the future. If you’re uncertain about the cryptocurrency market in Canada and want to learn more about its current advancements, Bitbuy’s resources section on its website is a good place to start.

BitBuy Prominent features:

  • Instant Funds Transfers

    Transferring money from a parent's account to a child's account is simple and free. And it's something that few other payment options currently provide. Venmo and Cash App, for example, both offer quick transactions but charge a fee for them. While Zelle offers free quick transfers, you'll need your child's bank account to utilize the service to send money to them.

  • Trading Express

    Bitbuy's Express Trading function is ideal for those who are new to crypto investment. With funds from your Bitbuy account, you may buy hundreds of cryptocurrencies using our easy trading interface. Bitbuy allows you to trade 15 different cryptocurrencies. This is a far smaller variety than that offered by prominent exchanges like Coinbase and Binance. Diversifying Canadian investors' portfolios with prominent cryptos, on the other hand, is more than enough. You may also use the Express Trade to sell any cryptocurrencies you own. You may utilize Interac e-Transfer or a wire transfer to fill your account with Canadian dollars. To deposit cryptocurrency into your Bitbuy account, send it to the coin's appropriate Bitbuy wallet address. Venmo and Cash App, for example, both offer quick transactions but charge a fee for them. While Zelle offers free quick transfers, you'll need your child's bank account to utilize the service to send money to them.

  • BitBuy's Pro Trading Express

    Bitbuy's Pro Trading Express However, if you want more control over your orders and access to more market data, Pro Trading is the way to go. This is not a paid function because you may access Pro Trading as soon as you open and validate your Bitbuy account. Instead of buying bitcoin at a fixed price like with Express Trading, Pro Trading allows you to place market and limit orders. You'll also have access to a lot more trade data, as well as charting tools that allow you to add other indicators for deeper technical analysis. This feature's attraction comes from the fact that you may place market and limit orders, and even inexperienced investors should make use of it. Venmo and Cash App, for example, both offer quick transactions but charge a fee for them. While Zelle offers free quick transfers, you'll need your child's bank account to utilize the service to send money to them.

  • Over-the-counter (OTC) trading

    Over-the-counter (OTC) trading To put it another way, when you trade OTC, you're making a deal with a single person or firm rather than depending on an exchange to carry out the transaction. OTC crypto trading is useful for large deals when you want to lock in your order price and receive the best price available. This reduces the risk of market volatility. If you spend $50,000 or more, Bitbuy enables OTC trading. This function is unlocked if you deposit $50,000 in Canadian dollars or the BTC/ETH equivalent in your account. OTC trading isn't a selling factor for most investors. If you're investing a large sum of money in crypto, though, you should employ OTC to assure a seamless transaction and the best possible price.

  • Cryptocurrency for Busines

    The majority of Bitbuy's customers are regular investors. If you're a business owner wishing to add Bitcoin to your balance sheet, you may open a Bitbuy Corporate account. Bitcoin is being added to the balance sheets of major corporations like Tesla as an inflation hedge and asset diversification. Thousands of Canadian firms are using the same method, according to Bitbuy, and it doesn't matter if you're a tiny business owner or a multinational enterprise. Working with a Bitbuy specialist to invest in cryptocurrencies for your business is similar to OTC trading. It's ultimately up to you if you need this for your balance sheet, but the fact that Bitbuy provides tools for both regular Canadians and company owners is a positive.

  • Referral Program

    If anyone you suggest registers an account and makes a deposit of at least $250, the Bitbuy referral program will pay you $40. Your referrals will also receive $40, making it an excellent situation. For establishing and financing a new account, several cryptocurrency exchanges provide $5 to $10 in free crypto. Coinbase, for example, frequently offers $10 free Bitcoin incentives. A $40 reward for both users is a good reward for testing out Bitbuy, and it's significantly more than other crypto exchanges.

  • A mobile app

    Bitbuy's free Android and iOS mobile app is another useful feature of this Canadian cryptocurrency exchange. You may use the mobile app to keep track of your holdings and place orders. You have access to both Express Trading and Pro Trading, however, it's ideal to utilize your pc for Pro Trading so you can see all of the data at once. This cool feature, on the other hand, is another reason Bitbuy is one of the finest Canadian bitcoin exchanges. For establishing and financing a new account, several cryptocurrency exchanges provide $5 to $10 in free crypto. Coinbase, for example, frequently offers $10 free Bitcoin incentives. A $40 reward for both users is a good reward for testing out Bitbuy, and it's significantly more than other crypto exchanges.

BitBuy Available Cryptocurrencies

Bitbuy provides access to almost fifteen of the most popular cryptocurrencies available today. Keep in mind that this may change in the future as support for the project develops, but for the time being, you can purchase, sell, or trade the following currencies:

 

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Stellar (XLM)
  • Bitcoin Cash (BCH)
  • EOS
  • Chainlink (LINK)
  • AAVE
  • Uniswap (UNI)
  • Polkadot (DOT)
  • SushiSwap (SUSHI)
  • Dogecoin (DOGE)
  • Polygon (MATIC)
  • Solana (SOL)
  • Cardano (ADA)

Additionally, Bitbuy offers the biggest number of crypto-to-Canadian dollar pairings available on the market, in addition to cryptocurrency pairings.

BitBuy: Overview of Fees

Bitbuy does not impose fees while depositing or withdrawing cryptocurrencies from one’s wallet. Withdrawals, however, are subject to mining costs. Bitbuy also charges fees for making deposits and withdrawals in Canadian dollars.

 

Every transaction on the Express Trade platform will incur a fee of 0.5 percent. The cost on the Pro Trade platform is determined on the type of order you place. The cost is 0.20 percent if you are a maker (if you put limit orders). The cost is 0.10 percent if you are a taker (you place market orders).

Is BitBuy a safe option?

Bitbuy Technologies Inc is a money service firm registered with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) (MSB). FINTRAC is the Canadian government’s regulatory authority in charge of money laundering detection, prevention, and deterrent, as well as personal data security.

 

Significantly, Bitbuy was the first cryptocurrency exchange to receive clearance from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA), making it Canada’s first licensed cryptocurrency marketplace and brokerage. What does this imply for clients? More openness and regulatory oversight of their operations.

 

BitGo Trust Company, the world’s first qualified custodian, purpose-built for keeping digital assets, insures the entire value of digital assets in Bitbuy’s cold storage. Bitbuy is subjected to an annual Proof-of-Reserves assessment by an independent expert. Bitbuy exceeded its own 95 percent cold storage guideline by an average of 98.12 percent in the main currencies, according to the most recent audit.

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