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Bitbuy review

Buy and sell crypto with 400,000 other Canadians on Bitbuy, a Canadian-owned cryptocurrency platform.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Our take on Bitbuy

Bitbuy is a great introductory cryptocurrency exchange though it still offers a variety of features for experienced traders.

However, the exchange doesn’t offer as many cryptocurrencies or earning features as other Canadian exchanges to its over 400,000 users.

Because the exchange takes compliance seriously, it’s a highly secure and reliable option for all levels of traders.


Finder Rating


Bitbuy pros and cons


  • Very high level of security
  • Approachable and easy-to-navigate UI
  • Good customer support
  • Compliant with regulators


  • Limited availability of cryptocurrencies and features
  • Only available in Canada
  • Fees and minimums on withdrawals
  • Lacks earning protocols and tools
  • Advanced KYC information required for account creation

About Bitbuy – company history and background

Bitbuy is a Canadian cryptocurrency exchange that was founded in 2016 and is based out of Toronto, ON.

The exchange was originally founded by Adam Goldman as Instabit in 2013 before rebranding to Bitbuy in 2016.

Bitbuy was acquired by WonderFi in March 2022 but continues to offer its crypto-trading platform.

WonderFi’s acquisition has provided Bitbuy with additional resources to continue building on its current products for its customers.

To date, Bitbuy has operated as a Canadian cryptocurrency exchange, only catering to Canadian citizens or residents and only accepting Canadian dollars.

Bitbuy website

Listed Bitbuy crypto exchange assets

Bitbuy supports over 34 cryptocurrencies, but some notable assets are missing. Namely, Binance USD, BNB and Cosmos Hub, which are in the top 20 cryptos by market cap. In total, 10 of the top 20 cryptos are available on Bitbuy.

Popular assets on Bitbuy
Bitbuy supports
Avalanche (AVAX)
Bitbuy does not support
Binance USD (BUSD)
Bitbuy supports
Bitcoin (BTC)
Bitbuy does not support
Bitbuy supports
Cardano (ADA)
Bitbuy does not support
Cosmos Hub (ATOM)
Bitbuy does not support
Dai (DAI)
Bitbuy supports
Dogecoin (DOGE)
Bitbuy supports
Ethereum (ETH)
Bitbuy does not support
LEO Token (LEO)
Bitbuy does not support
Lido Staked Ether (stETH)
Bitbuy supports
Polkadot (DOT)
Bitbuy supports
Polygon (MATIC)
Bitbuy supports
Ripple (XRP)
Bitbuy does not support
Shiba Inu (SHIB)
Bitbuy supports
Solana (SOL)
Bitbuy does not support
Tether (USDT)
Bitbuy does not support
Bitbuy supports
Bitbuy does not support
Wrapped Bitcoin (WBTC)

Bitbuy fees

There are withdrawal and deposit fees associated with fiat currency, and varying withdrawal fees associated with cryptocurrencies.

Both fiat and cryptocurrency deposits and withdrawals have minimums which vary depending on the method.

Maker and taker fees vary based on trading volume.

Deposit methods
  • Cryptocurrency
  • Interac e-Transfer
  • Wire transfer

Bitbuy deposit and withdrawal fees

Transaction type Fee
Deposit funds Cryptocurrency: free; blockchain network fees apply
Interac e-transfer: free
Wire transfer: free
Withdraw funds Cryptocurrency: varies depending on digital asset; blockchain network fees apply
Interac e-transfer: 1.5%
Wire transfer: 1.5%

Bitbuy trading fees

Type Fee
Maker (Spread fee) 0.00-2%
Taker (Spread fee) 0.10-2%

Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

How to sign up on Bitbuy

  1. Get started
    To start the account creation process users can click on the 'Get started' tab in the top right of the home screen. From there they will need to register an email account and user name. Once they have completed that step, they will need to click the verification link in their email inbox.
  2. Create an account
    Once they have completed the email verification, users can begin account creation. This step begins by asking for the account type (personal/business), and some basic contact information. Users are then asked to submit a government-issued ID along with a live photo/video through a provided link.
  3. Verification
    Users will then have to proceed through an identity verification stage. This step operates as a security screening protocol and ensures the user creating the account is the person who will be accountable for it.
  4. Financial assessment
    This is a risk and financial assessment step that identifies what level of trading and access a user will have on the exchange. It requires users to submit an accurate assessment of both their and their spouse's income levels, assets, liabilities, and recent tax filings. This information is not shared but helps identify suspicious trading activity and is required for Bitbuy's continued regulatory compliance as a restricted dealer and money services business.
Create a Bitbuy account

About the Bitbuy app

The Bitbuy app is available for Android or iOS devices. It offers many of the same features as the full desktop version.

Is Bitbuy safe?

Bitbuy is a very reliable cryptocurrency exchange.

It is a compliance-driven exchange, so while users are required to submit more information than most other exchanges require during the account creation process, the exchange has never been hacked and their KYC information is securely stored.

Past hacks. Bitbuy has been operating since 2016 and has never been hacked.

Security audits. Bitbuy conducts routine financial audits, monthly security audits, and transaction reporting audits using trusted third parties. The exchange maintains a Chief Anti-Money Laundering Officer and conducts daily and weekly suspicious activity reviews. Bitbuy registered as a money services business (MSB) with FINTRAC and is federally approved as a restricted dealer for digital assets in Canada. Bitbuy’s security providers are ISO, SOC and FIPS 140-2 compliant and require all users to set up 2-factor authentication (2FA) before being allowed to execute trades.

Insurance. Bitbuy exceeds its cold-storage self-mandate of having 95% of all digital assets secured in cold storage. The exchange also has a comprehensive insurance policy run through digital asset security company BitGo.

Bitbuy customer support

There are a couple of ways users can contact Bitbuy’s customer service staff.

There is a Bitbuy support page that features answers to frequently asked questions.

Bitbuy also has a chat option that can be located in the bottom right-hand corner of the page.

The chat option is run by an automated bot that helps find solutions based to frequently asked questions from the support page.

If users wish to talk directly to a customer service representative, you can submit an email request through the form on the site. The response time varies but you will typically receive a response within 1-2 business days.

Google Play ratings50K+ downloads
Apple Store ratings4.6 stars; 6.5k ratings

How to reach Bitbuy customer support

  • Contact form
  • Email
  • Facebook page
  • Live chat (bot)

Alternatives to Bitbuy exchange

1 - 3 of 18
Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT


Certain trading features are limited or unavailable to residents of Ontario and Quebec.
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer


Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.
Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency, Debit card, Wire transfer, Apple Pay


Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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