Contents
In order to place a market order, select the crypto-crypto or crypto-Canadian Dollar pairing that you wish to trade. In order to select the preferred pairing, click the list icon on the top left-hand side of the bitbuy review Pro Trade page. Incorrect information could lead to the permanent loss of your crypto assets. Paste your destination wallet address, enter the number of coins you wish to withdraw, and click “Withdraw Request”.
Bitbuy has an option to easily buy and sell crypto while offering some of the most competitive fee, such as Maker 0.10% Taker 0.20%. 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. For liquidity providers, the maker and taker fees are also 0.1% and 0.2% respectively if you have accumulated under $1.5m CAD in total maker fees paid in the previous 12 month period. If you exceed $1.5m CAD, there is no maker fee and a 0.1% taker fee. All information contained herein should be independently verified and confirmed.
Deposit and withdrawal methods
I suppose we’ll have to wait and see if that includes a new phone contact or online chat feature. For those who are not familiar with the concept of cold storage, it is the practice of taking a wallet off line and storing it in an air-gapped environment. It really just means that the exchange is making sure that the private keys of their wallets are inaccessible from digital threats. When it comes to withdrawal of cryptocurrencies, Bitbuy says that these are free. They are still likely to apply a network or miner fee to your transaction so you should keep that in mind.
In contrast, the Bitbuy Pro Trade Platform catered to customers who want to perform analysis and trade crypto more seriously. However, there are some limitations to the platform that must be taken into account. Users may only buy and sell the most popular cryptocurrencies like Bitcoin, Bitcoin Cash, and Ethereum, which severely limits the market’s depth and breadth. This is so due to the limited number of available cryptocurrencies. It’s also quite expensive to make a deposit or withdrawal using the site.
What is Bitbuy’s costs?
For Canadian investors, Bitbuy is one of the best exchanges you can use because of its ease of use and trading limits. If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider.
- To use this platform you will need to have a North American phone number as well as provide an address in Canada.
- Bitbuy does not offer Live Chat support, they only have an automated bot and email support.
- Of course, prevention is still the best way to protect yourself as an investor.
- Besides, its team has passed background and client information handling checks, meaning it runs a highly competent service.
- The 24h volume statistics on Bitbuy signifies how much cryptocurrencies have been traded over the last 24 hours.
They continue to pursue innovation on the trading side, as well as quality regulation and a safe trading environment which is of great importance. On deposits and withdrawals, there is a $50 minimum deposit with Interac e-Transfer and a $10,000 maximum in a 24-hour period. The minimum bank wire deposit is $20,000 with a $500,000 maximum and a fee of 0.5%.
Aura Finance Review | Maximize DeFi Yield Through Ve Tokenomics
Put simply, if you place a limit order, it won’t be fulfilled until the current price is at or below the specified threshold. On Bitbuy, the trading costs that you will be responsible for paying are going to be determined by whether or not you use the Pro platform. A flat commission will be applied to each and every deal that you execute, which is the other type of trading cost that an exchange may charge you for. The platform is relatively cheap compared to some other competing exchanges.
Through the Express Trade page, investors are able to buy and sell Bitbuy supported cryptos. In the case of transferring already held cryptos, select the appropriate crypto wallet listed on the “Wallets” page and click the deposit option. For demonstrative https://forex-review.net/ purposes, we have chosen Litecoin (“LTC”). Do note that, in order to make deposits, you will need to go through the registration process in order to open a Bitbuy account. You must also be located in Canada and have a Canadian mobile phone number.
Investors and traders are able to purchase cryptos by depositing Canadian Dollars via Interac e-Transfer or by Bank Wire Transfer. Alternatively, investors and traders are also able to deposit already held Bitbuy supported cryptos to fund trading and investing activity. Bitbuy ‘Express Trade’ is for one click buy/sell orders for users looking for easy access to digital currency. Bitbuy ‘Pro Trade’ offers more order types and a live order book for more advanced users. For customers looking for large amounts of digital currency, Bitbuy OTC offers competitive rates and white glove service.
Do not use this platform
Much like Coinbase and Coinbase Pro, Bitbuy offers two types of trades – express and pro. They range between 0% and 1.5% for maker fees, and 0.1% and 1.5% for taker fees . Bitbuy features a spot exchange for customers to buy and sell cryptocurrency assets on the platform. There is currently no derivatives or futures market to trade digital currencies with leverage or margin.
Instead, use your own crypto wallet to hold your funds since this is the only way to maintain control over your private keys and funds. Many international exchanges don’t have any type of insurance with the exception of their own insurance funds, so this is another perk of using Bitbuy. BitGo provides coverage for losses resulting from hacks, private key theft, loss of keys, and similar breaches. Most importantly, it holds at least 95% of assets in cold storage. Cold storage means holding assets offline rather than on an exchange or crypto wallet, making it practically impossible for hackers to access and drain Bitbuy’s funds.
When you sign up, you provide your email, name, and create a username and password. You also enter a phone number for SMS verification, and this must be a North American number. Signing up for Bitbuy is very simple, and you can unlock complete access to the platform in about five minutes. With the mobile app, you can monitor your holdings and place orders. You have access to Express Trading and Pro Trading as well, although it’s best to use your computer for Pro Trading so you have a more comprehensive view of all the data. The Bitbuy referral program pays you $40 if people you refer open an account and make a deposit of at least $250.
The main company’s goal was and still is to provide easy and secure access to Bitcoin and other popular cryptocurrencies. Apart from Bitcoin, Bitbuy’s supported cryptocurrencies include Bitcoin Cash, Ethereum, Ripple, Litecoin, Stellar Lumens and EOS. However, since Bitbuy is strongly improving, more cryptocurrencies will be added in no time. Awesome customer support, top cryptocurrencies and moderate fees backup a user-friendly platform. Its expertise and popularity have been built over years working in the Bitcoin industry.
The Trustpilot Experience
BitDegree Crypto Reviews aim to research, uncover & simplify everything about the latest crypto services. Easily discover all details about cryptocurrencies, best crypto exchanges & wallets in one place. Read fact-based BitDegree crypto reviews, tutorials & comparisons – make an informed decision by choosing only the most secure & trustful crypto companies.
To do this, many or all of the products featured here may be from our partners whom we receive compensation from. The app has all the functionality of the computer version- buying, selling, and depositing and withdrawing crypto. According to coinmarketcap.com, BitBuy is one of the smallest exchanges by volume, with $1,348,222 in trading volume for the past 24 hours, with the majority of trading done with ETH and BTC. BitBuy has a host of security features, including secure cloud servers, 2FA, regular audits, and top-notch information security.
Netcoins Review 2023: Features, Fees, Pros & Cons
If you’re not investing a significant amount of money in crypto, exchanges like Coinbase and Gemini are better on fees and also support significantly more coins. If you’re just investing in popular cryptocurrencies like Ethereum and Solana, Bitbuy is a reliable exchange. You should also use Bitbuy if you’re struggling with low trading limits on exchanges like Coinbase and need a Canadian-run exchange. Thankfully, Bitbuy provides Canadian investors with a much easier way to invest in cryptocurrencies. This Canadian-based exchange is one of the most popular ones in Canada, and it lets you buy and sell over a dozen cryptocurrencies. Whether you’re an institutional or retail investor, you don’t want to pay high fees or use a slow trading platform with an inadequate selection of tokens.
This means that you can pop out any of the screens from the main interface. Essentially, you can set your own trading layout across your screen. We checked the spreads on the rate that we were getting from Bitbuy and the live market rate. There was not really any discrepancy which means that Bitbuy was indeed being honest in their pricing of the coins. If you would like to convert your personal account into a business account, you will be requested additional information. Amongst them, Bitbuy might request the business articles of incorporation along with other corporate documentations.
At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. Any investing information provided on this page is for educational purposes only.
Bitbuy is only available to Canadian residents and only supports CAD. While this may not be an issue for most Canadians, for anyone that travels a lot, they won’t be able to access their account while they are outside of Canada. If you plan to trade crypto internationally, a better option for you may be Binance or KuCoin that are available in many countries around the world. If you are a US resident, you should read our article on the best crypto exchanges in the USA.