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I transferred my remaining coins out to another exchange, until this gets resolved. Trying to track $10,000 while talking to customer service through email and I’m almost 2 weeks in and no end in sight. Been using this for years now and the team has continuously been updating and improving. If you’re interested in buying bitcoin, these exchanges are a good place to start. Cryptocurrency regulation in Canada is strict, meaning few exchanges are allowed to operate within the region.
Normally, this variation is so minor that it makes no difference, but for regular traders with a high trading volume, these minor variances might have a significant influence on their profitability. Slippage is one of the most important concerns that advanced traders must be aware of and account for when trading. This duality in the platforms offered by the Bitbuy exchange makes it acceptable for investors at various stages of the learning curve, adding to the platform’s popularity. These users often demand a number of tools and alternatives in order to properly assess their transactions and make more educated trading decisions. For traders based in Canada, Bitbuy is well worth it and would be a great choice for your crypto trading.
Bitbuy offers OTC trading if you’re investing $50,000 or more. Once you fund your account with $50,000 worth of Canadian dollars or BTC/ETH equivalent, you unlock this feature. All you do is email with your request and a Bitbuy expert will reply within the same day. OTC crypto trading is popular for large trades where you want to get the best price possible and reduce the risk of market volatility by locking in your order price. Over-the-counter trading involves transactions between a buyer and seller, not an automated market maker. In other words, when you OTC trade, you’re making a deal with a single person or individual company rather than relying on an exchange to execute the trade.
The best features of Bitbuy are its catered range of products for Canadian users. Bitbuy is designed to be simple to use for newbies to crypto who desire access to regulator-approved crypto access, as well as ease of access to banking relationships in Canada. Bitbuy also performs monthly security audits and daily and weekly suspicious activity reviews to ensure no fraudulent or suspicious activity is taking place. Bitbuy has launched an intuitive mobile app that enables the platform’s users to access all the features available on the web interface through the easy-to-use mobile interface. The mobile app is available on both iOS and Android app stores.
This time I tried to fund the account but could only put $3000 in due to transaction limits. I received a page saying upgrade free to gold to increase limits so I thought why not and did it. I have used Bitbuy before and it was ok however I never ran into issues. Pro trade uses Tradingview software providing in-depth charting for technical analysis. Low-latency is joined by pop-out widgets allowing you to design your own trading screen. The user interface is clean, fast and simple to navigate with three main features.
Work directly with Canada’s top crypto OTC desk that gives access to competitive rates set by real-time global markets. Incorrect information could lead to the permanent loss of your crypto assets. As summarized below, processing times do vary by crypto, however. As shown below, users may view available balance, total balance, approximate CAD value, and a total holdings value in CAD equivalent.
Founded in 2016, Bitbuy is one of the larger Canadian cryptocurrency exchanges and has served over 400,000 investors so far. In this review, we put Bitbuy to the test versus the 15 most popular Canadian crypto exchanges. Read on to see how it performed on fees, features, coins offered, security and much more. The fee structure on Bitbuy is trading volume-based, meaning frequent traders can earn significant discounts when using the platform.
It is registered with the Canadian agency FINTRAC as a money services business, and is a division of First Ledger Corporation. It is also approved by the Ontario Securities Commission as the first Canadian registered marketplace for crypto assets. Because it has established strong banking relationships and oversight with Canadian regulators, it offers Canadians an easy access point in cryptocurrencies with fiat. Bitbuy is a fully regulated Canadian cryptocurrency exchange that lets users buy and sell crypto with CAD. However, while the platform is beginner-friendly, it lacks features meaning it’s unlikely to appeal to traders looking for advanced tools. Although the platform is user-friendly, the 1.5% trading fee drastically reduces the platform’s usability.
An advantage for high volume traders will be the volume-tiered fees at Coinbase, which decrease most rapidly over $20M in 30-day trading volume. Bitbuy has flat 0.20% fees for express trading, and they decrease to 0.1% for pro trading for market makers. Bitbuy is both an exchange and a wallet, which means you https://broker-review.org/ can buy and sell crypto using its trading platform, but you can also store your coins, too. Bitbuy stores 99% of its users’ coins in cold storage, making it an extremely safe crypto wallet for long-term storage. VirgoCX is our #1-rated, fully secure crypto platform that charges zero fees on trades up to $200.
The old wire/bank account transfer is the cheapest method to fund an account is the old wire/bank account transfer. On the other hand, if you choose Interac e transfers or Express Interac e-transfer, the fees charged are not very impressive. It only needs you to plan the deposits in such a way so that you do not lose much on the fees. So, users can deposit Canadian dollars through a wire transfer or Interac.
Note that withdrawals can be held by the exchange for up to 3 business days for security confirmations. Fees are on the higher end, at 0.20% for both makers and takers for the Express exchange interface, and at 0.10% for market makers on the Pro interface, while remaining at0.20% for takers. There are no other fee incentives for market makers or for volume. The status of the withdrawal will remain ‘In Progress’ until there have been sufficient confirmations on the blockchain.
The Bitbuy service offering features a one-click trading option for novice investors, which they may utilize to place orders promptly. In this aspect, the process is as easy as picking the asset to trade, inputting the amount to trade, and hitting the buy or sell button. Bitbuy fees are competitive in line with the rest of the industry with an easy-to-understand structure in place across the board for traders. This fee structure varies depending on how you trade with the exchange.
Please be advised that Bitbuy does not work with the third party you have mentioned. Bitbuy is a registered Money Service Business with FINTRAC, and we take these matters very seriously. We advise you to reach out to our support team and your local authorities as soon as possible. Bitbuy is a regulatory compliant platform that is registered with the Financial Transactions and Reports Analysis Centre of Canada as a Money Services Business .
The good news is that whilst using Bitbuy you won’t miss out on anything. The provider offers the ability to trade not only using the desktop platform but also their mobile app that’s available for both iOS and Android users. Talking about decentralized cryptocurrency exchanges, there’s no third-party involvement and you have full autonomy over your wallet. Welcome to one of the best Canadian cryptocurrency trading platforms. Get low fees & top security at Bitbuy.ca when you buy Bitcoin, Ethereum, Litecoin & more.
Furthermore, the Pro Trade feature offers an excellent way for users to expand their trading knowledge and get comfortable with an order-book-style interface. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. Partnership with BitGo allows Bitbuy users to store their bitcoin holdings in an offline vault. Also, the insurance covers up to the full price of your assets. Bitbuy is very serious about security, so their built-in wallet is also one of the more reliable ones. One of the most exceptional aspects about it is that Bitbuy is the only one Canadian exchange that insure their users’ Bitcoins.
The company is a registered Money Service Business regulated by FINTRAC, a Federal Government of Canada entity. Bitbuy is a fantasticcryptocurrency exchange for Canadians, particularly beginners. It is so easy to buy and sell crypto with Canadian Dollars using Bitbuy’s Express Trade feature. Bitbuy also has features that suit more experienced traders, such as Pro Trade with advanced charts by TradingView, and an OTC desk to support large trades of over $50,000. The main drawback of Bitbuy is they only offer 17 different coins on their exchange.
I really liked how simple it was to purchase crypto and learn about their site. BitBuy’s OTC service is made for clients looking to invest $50,000 or more. This rating is far superior to Coinbase’s rating of 1.6/5 stars and Binance’s rating of 2.0/5 stars. I understand you may not have enough time to read my full BitBuy review, so here is an actionable summary to help you. We will only display websites accepting customers from your country.
You can trade quickly and easily on Bitbuy Express or use the professional tools on Bitbuy Pro for advanced trading. In this Bitbuy review, we will dive into what Bitbuy is all about, how it works, and highlight some notable trading features that have some crypto enthusiasts jumping on the Bitbuy bandwagon. Rest assured that if we made a habit of carelessly blocking and off-boarding our customers then we wouldn’t be where we are today as a company. With that said, everything happens for a reason, but again, we’re sorry that we had to sever our relationship. I applied for Gold Status which was granted, however they then restricted my account so I cannot use it.
