Bitbuy Canada Review: Is It the Right Crypto Exchange for You?

Introduction

As cryptocurrency becomes more mainstream in Canada, choosing the right exchange has never been more important. With dozens of platforms promising low fees, high security, and fast transactions, it can be hard to determine which one actually delivers. This is where Bitbuy Canada stands out — a regulated, Canadian-based exchange designed specifically for local users. In this Bitbuy Canada review, we’ll walk through its features, advantages, drawbacks, and how it compares to competitors.

Launched in 2016, Bitbuy has grown to become one of the most recognized cryptocurrency platforms in Canada. It’s known for its transparency, security, and ease of use. Whether you’re a beginner taking your first step into crypto or an advanced trader, Bitbuy aims to offer a tailored experience for everyone.

But does it live up to the hype? In this comprehensive Bitbuy Canada review, we dive deep into what this platform offers, analyze real user experiences, and help you decide if it’s the right exchange for your trading needs.

What Is Bitbuy Canada?

Bitbuy is a Toronto-based cryptocurrency exchange that caters exclusively to Canadian users. It allows individuals to buy, sell, and trade major cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. With registration under FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and full compliance with Canadian regulatory laws, Bitbuy offers an extra layer of trust and legitimacy.

The platform is divided into two main interfaces:

• Express Trade: A beginner-friendly interface for quick buying and selling.

• Pro Trade: A more advanced dashboard with real-time charts, order books, and multiple trading pairs.

It also offers OTC (Over-the-Counter) trading for institutional or high-volume traders, making it one of the few Canadian exchanges catering to all user types.

Key Features of Bitbuy Canada

1. Fully Regulated in Canada

One of Bitbuy’s strongest selling points is that it’s a regulated crypto exchange, compliant with Canadian AML (anti-money laundering) policies. It is also a registered marketplace and restricted dealer with the Ontario Securities Commission (OSC).

2. Cold Storage for Security

Over 95% of users’ crypto assets are stored in cold wallets, ensuring they are protected from hacks and online threats. Bitbuy also works with BitGo Trust Company for insured custody solutions.

3. Fast Verification and Funding

Account creation is seamless, and identity verification typically takes minutes. Bitbuy supports funding via Interac e-Transfer, bank wire, and crypto deposits, making it incredibly convenient for Canadians.

4. Transparent Fee Structure

Bitbuy maintains a clear and transparent fee structure. For Express Trade users, the fee is 0.2%. On Pro Trade, maker fees are 0.1%, and taker fees are 0.2% — competitive when compared to global exchanges.

5. Mobile App Accessibility

The Bitbuy mobile app is available for both iOS and Android, providing full trading functionalities, real-time price alerts, and portfolio tracking on the go.

6. Customer Support

Bitbuy offers email support and an extensive Help Centre with educational guides, FAQs, and real-time updates.

Supported Cryptocurrencies on Bitbuy

While Bitbuy offers fewer coins than global giants like Binance or Coinbase, it focuses on quality over quantity. Supported assets include:

• Bitcoin (BTC)

• Ethereum (ETH)

• Litecoin (LTC)

• Bitcoin Cash (BCH)

• Stellar (XLM)

• EOS

• Chainlink (LINK)

• Polygon (MATIC)

• Uniswap (UNI)

• Aave (AAVE)

This list continues to grow, but Bitbuy focuses on top-performing, high-liquidity coins to ensure fast execution and fewer listing risks.

Bitbuy Canada Fees Overview

Understanding the fee structure is crucial in evaluating any exchange. Here’s how Bitbuy’s fees break down:

Although Bitbuy doesn’t offer zero-fee trading, its transparent rates are still competitive — especially considering the added security and compliance.

Bitbuy Canada Pros and Cons

Pros

• Registered and regulated in Canada

• Beginner and advanced trading interfaces

• Cold storage for 95% of funds

• Quick verification and funding

• Top-tier customer support

• Mobile app for trading anywhere

Cons

• Limited selection of altcoins

• Higher deposit/withdrawal fees compared to some global exchanges

• No staking or DeFi integration

Bitbuy vs Other Canadian Exchanges

Bitbuy vs Newton

• Bitbuy is more secure and regulated, ideal for serious traders.

• Newton offers more altcoins and lower fees but less robust customer support.

Bitbuy vs Shakepay

• Shakepay is great for beginners but has limited features and no advanced trading tools.

• Bitbuy offers both Express and Pro Trade interfaces for all levels of users.

Bitbuy vs Wealthsimple Crypto

• Wealthsimple is investment-focused with no crypto withdrawals to external wallets.

• Bitbuy allows full ownership and external transfers.

Who Should Use Bitbuy Canada?

Bitbuy is ideal for:

• Canadians looking for a safe, regulated crypto platform

• Beginners who want a simple interface

• Advanced users who want Pro Trade features

• Investors needing OTC services for large transactions

• Those who value strong customer support and compliance

If you fall into any of the above categories, Bitbuy Canada is worth serious consideration.

Security Measures on Bitbuy

When reviewing any crypto exchange, security is critical. Bitbuy uses the following security protocols:

• Two-Factor Authentication (2FA): All user accounts are protected with 2FA.

• Cold Wallet Storage: Over 95% of digital assets are stored offline.

• Third-Party Audits: Regular platform audits by external firms.

• Insurance: Bitbuy partners with BitGo for insured crypto custody.

• Regulatory Oversight: Compliance with Canadian regulators ensures accountability and transparency.

These features position Bitbuy as one of the most secure crypto exchanges in Canada.

Frequently Asked Questions (FAQs)

Is Bitbuy safe to use in Canada?

Yes. Bitbuy is a registered crypto marketplace with FINTRAC and OSC. It uses cold storage and 2FA, making it highly secure.

Does Bitbuy charge high fees?

Bitbuy’s trading fees are competitive (0.1%–0.2%). However, CAD deposit/withdrawal fees (1.5%) are slightly higher than some rivals.

How long does verification take?

Most users complete verification in under 10 minutes thanks to Bitbuy’s automated system.

Can I withdraw crypto to an external wallet?

Yes. Bitbuy allows full withdrawal and deposit functionality for crypto assets — unlike some limited Canadian platforms.

Is Bitbuy good for beginners?

Absolutely. The Express Trade interface is designed specifically for beginners and simplifies the buying/selling process.

Does Bitbuy have a mobile app?

Yes, the Bitbuy app is available for iOS and Android with full trading and portfolio features.

What coins can I buy on Bitbuy?

You can buy major coins like BTC, ETH, LTC, LINK, MATIC, UNI, AAVE, and more.

How does Bitbuy compare to Coinbase or Binance?

Bitbuy has fewer coins and lacks global reach but offers superior compliance for Canadian users. It’s also far more trusted locally.

Conclusion

In this Bitbuy Canada review, it’s clear that the platform offers a strong combination of security, regulatory oversight, and ease of use. While it may not have thousands of coins or DeFi tools like some global platforms, Bitbuy is purpose-built for Canadian traders who value safety, transparency, and support.
Its simple interface, Pro Trade option, secure storage, and regulatory status make it a great fit for everyone from newcomers to seasoned investors. Despite slightly higher fees for funding and withdrawal, the peace of mind Bitbuy provides is well worth the cost for many users.
If you’re in Canada and looking for a trustworthy platform to enter or expand your crypto journey, Bitbuy is undoubtedly one of the top contenders.

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