Bitbuy.ca digital currency trading platform review

Buy, sell and trade bitcoin, Bitcoin Cash, Ether and Litecoin on this Canadian-owned and operated cryptocurrency exchange.

Founded in Toronto, Bitbuy.ca is a Canadian owned and operated digital currency trading platform. Aside from finding traders competitive on-the-spot deals for buying, selling and trading cryptocurrency from around the world, the exchange also provides solutions for businesses to accept bitcoin and Ether as payment and offers guaranteed two hour funding when customers use Express Interac e-Transfer as a payment method (during specified business hours).

We’ve included everything you need to know about using this platform to buy, sell and receive bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH) and Litecoin (LTC). Read on to decide if Bitbuy.ca is the right cryptocurrency exchange for your needs.

What is Bitbuy.ca?

Bitbuy.ca

$20 bonus when you create a new account

Get a $20 bonus when you buy or sell at least CAD$100 in digital currency. T&Cs apply.

Last verified 18 Sep 2018

Get deal

Bitbuy.ca is a discount cryptocurrency broker offering customers immediate access to bitcoin, Bitcoin Cash, Ether and Litecoin marketplaces around the world. Using trading algorithms, the platform scours the Internet for the lowest market prices and connects traders directly to what it establishes as the most cost-effective deals worldwide. Additionally, the service offers Canadian traders access to advanced Canadian dollar quoting, chart visualizations and quick CAD withdrawal requests. In September 2018, Bitbuy.ca also had a redesign of its platform, which offers a single screen interface on both mobile and desktop views — allowing you to buy, sell, withdraw and deposit cryptocurrency all from the same view.

Here is the typical process to buy, sell or receive bitcoin, Bitcoin Cash, Ether or Litecoin through Bitbuy.ca:

• Fund your account with Canadian dollars through bank wire, Express Interac e-Transfer, Interac Online, Interac e-Transfer or Flexepin voucher
• Search the global marketplace for BTC, BCH, LTC or ETH
• Select the crypto you’re after and purchase it using fiat currency or cryptocurrency, depending on what you’ve deposited into your account
• Move your coins to your bitcoin, Ether or Litecoin wallet

Aside from serving as a cryptocurrency exchange, Bitbuy.ca is in the process of creating its own Bitbuy.ca wallet. It also offers solutions to businesses and merchants, allowing them to accept bitcoin and Ether as payment, and specializes in creating software that is used in the financial sector.

Bitbuy.ca recently added an Express Interac e-Transfer feature, allowing users to fund their account with Canadian dollars in just two hours. This service is available Monday to Friday from 8am until 8pm and is one of the fastest ways to add funds to your account and begin buying cryptocurrency on the global marketplace.

Which cryptocurrencies can I buy and sell?

At the time of writing in September 2018, Bitbuy.ca offers the following cryptocurrencies:

• Bitcoin
• Bitcoin Cash
• Ether
• Litecoin

Go to site Bitbuy.ca's website

Available countries

Bitbuy.ca is a Canadian company, with headquarters located in Toronto, Ontario.

Its services can be used by Canadian traders across the country.

Which payment methods are accepted?

Bitbuy.ca accepts the following payment methods:

• Bank wire
• Interac online
• Interac e-Transfer
• Flexepin vouchers
• Express Interac e-Transfer

Method	Funding time	Verification Required?
Bank wire	1-2 days	Yes
Interac online	Instant	Yes
Interac e-Transfer	24 hours	Yes
Flexepin Vouchers	Instant	No
Express Interac e-Transfer	2 hours	Yes

How much will it cost me to use Bitbuy.ca?

Bitbuy.ca offer some of the lowest fees in Canada.

Note that you can withdraw your cryptocurrency free of charge.

	Fee amount
Buying fee	0.75%
Selling fee	0.50%

Bitbuy.ca limits

Method	Minimum daily limit	Maximum daily limit	Fee
Flexepin voucher	$50	$500	2%
Interac online	$100	$2,000	2%
Interac e-Transfer	$100	$3,000	1.75%
Bank wire	$5,000	$500,000	0.50%
Express Interac e-Transfer	$500	$10,000	3.5%

How fast will my funds be available?

First-time purchases will be held for one to three business days for security reasons.

If you are a verified member and have made more than three transactions on Bitbuy.ca, your funds will be available in real time.

How do I become a verified member?

Becoming a verified member entitles you to use any of the payment methods offered to fund your Bitbuy.ca account.

To become a verified member, sign in and click the “Account” menu and then “Member Profile”. Input your account information and then click the “Verification” link back in the “Account” menu to upload your documents.

You must provide the following documents:

• A copy of your passport or driver’s licence must be uploaded in colour
• A copy of a bank statement or utility bill showing your name and proof of address
• A photo of yourself holding your government-issued ID
• If you have a business account, you must provide additional documents proving authority to act on behalf of a corporation.

Verification generally takes between one to three business days.

Go to site Bitbuy.ca's website

Is it safe to use Bitbuy.ca?

Bitbuy.ca is a division of First Ledger Corp, which is a Toronto based blockchain and digital currency company. In the “About Us” section on the Bitbuy.ca website, there is no further information regarding the founders of the exchange; however, the site does mention that it complies with all Canadian laws.

Bitbuy.ca uses Secure Socket Layer (SSL) technology to protect users. In addition, two-factor authentication provides additional security. While you can move your cryptocurrency into your own wallet, Bitbuy.ca operates with a 95% cold storage reserve for all digital currencies held on the site and executes daily encrypted and distributed backups to avoid any implications or attacks.

Customer support

To lodge a support request or ask a question, you can use the “Submit a request” button within the support section of Bitbuy.ca’s site. Bitbuy.ca also offer live chat support and quick response times via telephone and email.

Bitbuy.ca also has an address listed on its website, with an office located in downtown Toronto, Ontario.

Pros and cons

Next steps

If you’ve compared your options and are ready to get started with Bitbuy.ca, sign up for a free account by providing your email address and creating a password.

To become a verified member and begin trading, you’ll need to provide the required identification documents. As a fully verified member, you’ll be able to fund your account with Canadian dollars and begin browsing Bitbuy.ca’s cryptocurrency marketplace.

Go to site Bitbuy.ca's website

FAQs

• Does Bitbuy.ca offer its own wallet?

  Bitbuy.ca is currently working to create a wallet that will allow for on-demand and secure access to your cryptocoins.

• What business products does Bitbuy.ca offer?

  Aside from being a cryptocurrency broker, Bitbuy also creates financial services software. The company has developed bitcoin and alternative payment systems, including an Ethereum payment system, that allows businesses to accept bitcoin and Ether as payment. It claims to be one of the first companies to enable businesses to accept Ether as payment.

  Its product features custom POS (point-of-sale) terminal integration, where customers can pay for goods and services using cryptocurrency. These POS systems are located both online and in brick-and-mortar companies.

• Where can I purchase Flexepin vouchers?

  Flexepin vouchers can be purchased from Canadian Tire Gas stations across the country. Ask at the counter for a Flexepin voucher and follow the steps to load money onto the card. You can top up and reuse your Flexepin card as needed.

• What wallets can I use to store my coins?

  Since Bitbuy.ca deals with bitcoin, Bitcoin Cash, Ether and Litecoin, you can use any supported BTC, BCH, ETH or LTC wallet. There are plenty of wallets out there that support these coins.