In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.
Bitbuy Digital Currency Exchange
4.0
★★★★★
Finder score
Fiat currencies
1
Supported assets
39
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

Our verdict

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

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.

Pros

  • Very high level of security.
  • Approachable and easy-to-navigate UI.
  • Good customer support.
  • Complies with the Financial Transactions and Reports Analysis Centre regulations in Canada. FINTRAC is the peak body for regulating cryptocurrency exchanges in Canada which requires Bitbuy to comply with laws and regulations that are intended to provide certain protections for users.
  • Trade with multiple fiat currencies. Bitbuy allows you to trade with CAD.

Cons

  • Fees and minimums on withdrawals.
  • Lacks earning protocols and tools.
  • Advanced KYC information required for account creation.
  • Only 39 cryptocurrencies supported. Bitbuy supports a smaller variety of assets than some of its competitors. This isn't necessarily a bad thing, but if you're looking for a large range of altcoins you may want to compare other platforms.
  • CAD deposits and withdrawals are not supported. Bitbuy does not support CAD trading accounts. You may still be able to purchase crypto using a credit or debit card via the platform's instant purchase feature, although foreign exchange fees might apply.

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name Bitbuy Digital Currency Exchange
Fiat Currencies CAD
Cryptocurrencies BTC,ETH,USDC,ADA,SOL,DOGE,XRP,DOT,MATIC,UNI & 29 more
Deposit Methods Cryptocurrency
Interac e-Transfer
Wire transfer
Trading Fee Maker (Spread fee): 0.00-2%
Taker (Spread fee): 0.10-2%
Deposit Fees Cryptocurrency: free; blockchain network fees apply
Interac e-transfer: free
Wire transfer: free
Withdrawal Fees Cryptocurrency: varies depending on digital asset; blockchain network fees apply
Interac e-transfer: 1.5%
Wire transfer: 1.5%

Ratings methodology - how we scored Bitbuy

Supported cryptocurrencies ★★★★★
Transferring money or assets ★★★★★
Fees and costs ★★★★★
Ease of use ★★★★★
Customer service ★★★★★
Features ★★★★★
Staking/earn ★★★★★
Trustworthiness/security ★★★★★

How we rate our crypto exchanges and platforms

Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.

Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

About Bitbuy — company 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.

Listed Bitbuy crypto exchange assets

Bitbuy supports over 39 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 13 of the top 20 cryptos are available on Bitbuy.

Popular assets on Bitbuy
supports
Bitcoin (BTC)
supports
Ethereum (ETH)
does not support
Tether (USDT)
does not support
BNB (BNB)
supports
Solana (SOL)
does not support
Lido Staked Ether (STETH)
supports
USDC (USDC)
supports
XRP (XRP)
supports
Dogecoin (DOGE)
does not support
Toncoin (TON)
supports
Cardano (ADA)
does not support
Shiba Inu (SHIB)
supports
Avalanche (AVAX)
does not support
Wrapped Bitcoin (WBTC)
does not support
TRON (TRX)
supports
Chainlink (LINK)
supports
Uniswap (UNI)
supports
Polkadot (DOT)
supports
Bitcoin Cash (BCH)
supports
NEAR Protocol (NEAR)

Bitbuy fees

Bitbuy Wire transfer, interac e-transfer and cryptocurrency deposits are free for folks in Canada.

Deposit & withdrawals 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 uses a maker taker fee structure for spot market trading. Instant purchases incur a separate fee.

Type Fee
Maker 0.00-2.00%
Taker 0.10-2.00%

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.

Bitbuy deposit methods

  • Cryptocurrency
  • Interac e-Transfer
  • Wire transfer

How to sign up on Bitbuy exchange

Before you can even get started trading on Bitbuy, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Bitbuy's commitment to certifications and compliance with regulations and insurers.

  1. Get started
    After selecting the Get Started button, fill in the create account form.
  2. Set up payment
    Before you can start trading, you have to add your bank account to your Bitbuy account. There are several options to choose from, so choose the option most compatible.
  3. Provide identification
    Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this.
  4. Start trading
    After all that is processed, you're ready to trade on Bitbuy.
Create Bitbuy account

Using 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 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.

Keeping your crypto secure

All centralized exchanges, including Bitbuy, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

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.

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
eToro Cryptocurrency Trading
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, Skrill

18

78

Disclaimer: Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply.
Go to site

Capital at risk

View details
Binance Cryptocurrency Exchange (Not available to US users)
Bank transfer, Cryptocurrency

1

369

Go to site

Capital at risk

View details
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, P2P

50

743

Go to site

Capital at risk

View details
Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, P2P

73

279

Disclaimer: Highly volatile investment product. Your capital is at risk.
Go to site

Capital at risk

View details
Gate.io Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card

8

1607

Go to site

Capital at risk

View details
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT

8

222

Go to site

Capital at risk

View details
OKX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)

35

338

Go to site

Capital at risk

View details
Uphold
Uphold
Bank transfer (ACH), Credit card, Debit card, Apple Pay, Google Pay

27

237

Capital at risk

View details
EXCLUSIVE
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller

42

357

Finder Exclusive: Get 25% discount on all commission for 1 transaction when using promocode Finder25. There is no time limit on the validity of the promo code.
US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Go to site

Capital at risk

View details
Finder Award
Bitstamp Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, SEPA, Faster Payments (FPS)

3

90

Capital at risk

View details
Coinmama Cryptocurrency Marketplace
Credit card, Fedwire, SEPA, Google Pay, SWIFT, Bank card

6

15

Capital at risk

View details
OFFER
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Cryptocurrency, Debit card, PayPal, Apple Pay, Google Pay, SWIFT

7

152

Go to site

Capital at risk

View details
Finder Award
Crypto.com App
Bank transfer, Credit card, Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay, SWIFT

31

384

Capital at risk

View details
loading

Are you visiting from outside the US?

Select an option to continue

Alternatives to Bitbuy

1 - 3 of 13
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Kraken
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay

7

210

Certain trading features are limited or unavailable to residents of Ontario and Quebec.
Go to site

Capital at risk

View details
Paybis Cryptocurrency Exchange
EXCLUSIVE
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Debit card, Neteller, Skrill, Apple Pay

60

87

Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
Go to site

Capital at risk

View details
OFFER
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer

1

39

Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.
Go to site

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
loading
Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Iain Finder

Writer

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use & Privacy Policy and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site