Bitbuy

What is Bitbuy?

Bitbuy is the leading canadian digital currency trading platform. It currently offers deep liquidity across 10+ spot trading markets through its trading interfaces and OTC (over-the-counter) trading desk. The interface of Bitbuy is broken out into Express Trade and Pro Trade.

• Express Trade has been designed for newer traders looking for an easy-to-use interface
• Pro Trade is best suited for more advanced traders who are looking for lower fees, access to charts, API connectivity, and a live order book.

More so, Bitbuy is the best place to buy and sell Bitcoin in Canada. Canadians need a platform that offers 10+ digital currencies, top-notch security, convenient funding options, and unmatched customer service. They also want to use a federally regulated MSB (Money Service Business) that has 350,000+ customers and has exchanged $4B+ in digital currency which is best carried out by Bitbuy.

Feature:

• Bitbuy’s new automated sign-up and onboarding process has made the entire registration process even faster and easier
• Simple to use platform that takes care of both novice and experienced traders
• No minimum deposits of cryptos
• It supports instant CAD e-transfers and also supports the deposit and withdrawal of Canadian Dollars
• Generous referral and affiliates program
• Available in Android and iOS version
• Traditional trading features include charts, with the required tools to carry out technical analysis
• 2 Factor Authentication and cold storage in place to protect investor assets. Users have multiple 2FA options to accommodate individual preferences
• Bitcoin holdings are fully insured
• Same day customer support response

Comparison: Bitbuy vs Coinbase

Bitbuy

Pro

• User-friendly Express Trade feature
• Pro Trade gives access to advanced charts and tools
• Extremely secure crypto exchange app with BTC insurance
• Low trading fees of only 0.2% for Express Trade and 0.1%/0.2% Maker/Taker fees for Pro Trade
• Interac e-Transfer and Wire Transfer deposits supported

Cons

• Only available to canadians
• Only offers 9 different cryptocurrencies

Bitbuy Supported Cryptos

Bitbuy gives investors and traders access to the most popular cryptos in the marketplace and the supported cryptocurrencies include Bitcoin (“BTC”), Bitcoin Cash (“BCH”), EOS (“EOS”), Ethereum (“ETH”), Litecoin (“LTC”), Ripple’s XRP (“XRP”), and Stellar’s Lumen (“XLM”)

To select your preferred crypto-crypto or crypto–CAD pairing, go to the “Bitbuy Pro Trade” page. To view the available pairings, click on the dropdown menu on the top left-hand side of your page

Bitbuy Fees

Bitbuy provides users with a transparent fee schedule and offers convenient ways to fund Canadian bank accounts. There are no hidden fees embedded within coin prices.

For Deposits and withdrawals of Bitbuy supported cryptos, there are no fees in order to fund Bitbuy supported crypto wallets

Additionally, there are no minimum or maximum limitations.

Coinbase

It is a well-known cryptocurrency exchange that makes it easy to buy, sell, and exchange cryptocurrency. Coinbase makes buying Bitcoin as easy as buying a stock through an online brokerage, but look out for the fees and poor customer service. Coinbase offers a secure way to invest and trade with cryptocurrencies.

Pro 

• Coinbase privately insured their own platform so your funds are safe in the event there is a hack
• Simple and user-friendly interface
• Only takes a few minutes to register and start trading
• Over 70+ cryptocurrencies are available
• Extremely secure and trusted platform

Cons

• A complicated fee structure that is higher than competitors
• Only debit card deposits accepted

Coinbase Supported Cryptos

Currently, Coinbase wallet supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, Ripple, XRP, Litecoin, Stellar Lumens, Polygon, Dogecoin, and all ERC20 tokens (including USDC and DAI). More so, Coinbase Wallet also supports the following ETH Layer-2 solutions:

• Arbitrum
• Avalanche C-Chain
• Binance Smart Chain
• Fantom Opera
• Optimism
• Polygon
• xDai

Coinbase Fees

Coinbase may charge fees when you buy, sell, or convert cryptocurrencies. Fees are calculated at the time you place your order and may be determined by a combination of factors including the selected payment method, the size of the order, and market conditions such as volatility and liquidity.

If you borrow USD from coinbase or a coinbase affiliate, and Coinbase sells your BTC collateral as authorized to do under an applicable loan agreement, Coinbase will charge you a flat fee of 2% of the total transaction.

Bitbuy Summary

• Web Address: www.bitbuy.ca
• Main Location: Toronto, Canada

Deposit Methods

• Interac e-Transfer, Wire transfer, Cryptocurrency
• Deposit Fee: Interac e-Transfer: 1.5%
• Wire transfer: 0.5%
• Cryptocurrency: Free
• Fiat Currencies: CAD
• Mobile App: Yes
• Cryptocurrencies: BTC, BCH, ETH, LTC, XRP, XLM, EOS, AAVE, LINK

Withdrawal Fee

• Interac e-Transfer: 1.5%
• Wire transfer: 1.0%,
• Cryptocurrency: Varies
• Trading Fees: Express Trade: 0.2%, Pro Trade: 0.1% / 0.2%
• Maker/Taker