Bitbuy vs Coinbase: Which crypto platform is better?
We compare Bitbuy vs Coinbase side-by-side to find out which platform is the best choice for most people.
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.
Bitbuy and Coinbase are two popular crypto trading platforms in Canada. Both are easy to use, support dozens of cryptocurrencies, and are regulated by Canadian authorities.
But which platform is better? Let’s compare Bitbuy vs Coinbase head-to-head to see which exchange comes out on top.
Bitbuy vs Coinbase: Supported coins and tokens
Bitbuy and Coinbase both support dozens of major coins and tokens. So if you want to trade Bitcoin, Ethereum, XRP, Solana, USDC and other major cryptocurrencies, both platforms have got you covered.
But Bitbuy only supports over 65 coins and tokens. Meanwhile, you can trade more than 200 cryptos on Coinbase, including some of the best cryptocurrencies to buy right now.
It’s worth checking each platform’s list of supported assets before signing up to make sure the cryptos you want to trade are available.
Who’s the winner?
Coinbase supports a much larger number of cryptos than Bitbuy, so it takes the win here.
Bitbuy vs Coinbase: Fees
| Fee type | Bitbuy | Coinbase |
|---|---|---|
| Minimum deposit | $50 | $1 |
| Trading fees |
|
|
| Staking fees | Up to 30% of staking rewards | Up to 35% of staking rewards |
| Deposit fees | None | Usually $0, but a $30 fee applies to wire transfers of less than $10,000 |
| Withdrawal fees | Crypto: varies Interac e-Transfer: 0% Bank deposit: 1.5% Wire transfer: 1.5% | Fees vary depending on payment method |
| Get started |
Who’s the winner?
Bitbuy for its transparent fee structure.
Bitbuy vs Coinbase: Canadian regulatory bodies
Bitbuy is a trading name of Coinsquare Capital Markets, which is a member of the Canadian Investment Regulatory Organization (CIRO) and registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). It is also registered as an Investment Dealer with the Ontario Securities Commission and listed by the Canadian Securities Administrators (CSA) as a crypto platform authorized to do business with Canadians.
Coinbase Canada is registered as a Restricted Dealer in all provinces and territories of Canada. It is also registered with FINTRAC as an MSB and listed by the CSA as a crypto platform authorized to do business with Canadians.
Who’s the winner?
Bitbuy. Both platforms are legit and properly regulated in Canada, but Bitbuy’s Investment Dealer status sees it take the win in this category.
Bitbuy vs Coinbase: Payment methods
There are three ways to deposit funds into your Bitbuy account: Interac e-Transfer, wire transfer and crypto deposit. Meanwhile, Coinbase accepts e-Transfers, electronic funds transfers, debit/credit card payments, wire transfers, PayPal, Samsung Pay and crypto deposits.
Who’s the winner?
Coinbase accepts a wider range of payment methods.
Bitbuy vs Coinbase: Trading tools
Bitbuy and Coinbase both offer express trading platforms for new investors looking for a quick and easy way to start trading crypto. Both platforms also offer separate platforms with a host of tools for advanced traders.
Bitbuy Pro Trade provides access to TradingView charts, real-time order books, market and limit orders, and APIs. Customizable charts are also available for technical analysis.
Coinbase Advanced is Coinbase’s free platform for experienced traders. Its features include real-time order books across 552 markets, TradingView charts, technical indicators, API access, and plenty of options for customization.
Who’s the winner?
It’s a close call, butCoinbase’s selection of advanced features, technical analysis tools and user-friendly interface are hard to beat.
Bitbuy vs Coinbase: Security features
Bitbuy and Coinbase are both legit and secure crypto platforms, and each has several measures in place to help ensure the security of your funds.
Bitbuy says over 90% of its customers’ crypto coins and tokens are held offline in insured cold storage, with all customer assets on Bitbuy backed 1:1. Regular audits help strengthen platform security, while two-factor authentication, closed-source core code and the use of a full-node architecture help ensure the safety of your assets.
As a major global exchange, Coinbase implements a host of security measures to safeguard customer accounts and funds. Approximately 98% of customer assets are held in cold storage, while data encryption, two-factor authentication, and multi-approval Coinbase Vault withdrawals add extra protection. It also runs a Bug Bounty program to help detect any weaknesses in its security systems.
Who’s the winner?
It’s a tie. Both platforms offer robust security features and are regulated in Canada.
How do the mobile apps for Bitbuy vs Coinbase compare?
Bitbuy and Coinbase’s mobile apps are both free to download from the App Store and Google Play. Both apps offer similar features, allowing you to:
- Deposit and withdraw funds
- Buy, sell and stake crypto
- Send cryptocurrency
- Track the performance of your portfolio
- Check crypto prices and set price alerts
Both apps are intuitive and easy to use, but Coinbase’s interface is as streamlined and user-friendly as they come. The Bitbuy and Coinbase apps have also received plenty of positive feedback from customers.
| Bitbuy | Coinbase | |
|---|---|---|
| Apple App Store rating | 4.5/5 based on 7,300+ reviews | 4.6/5 based on 64,000 reviews |
| Google Play rating | 4.1/5 based on 2,300+ reviews | 4.4/5 based on 921,000+ reviews |
Who’s the winner?
Coinbase. Both apps are user-friendly and have generally positive feedback, but the much larger number of positive reviews for Coinbase sees it take the victory.
Other features we like about Bitbuy vs Coinbase
Staking
Bitbuy and Coinbase both allow you to stake a variety of crypto coins and tokens to earn rewards. Bitbuy Staking is available for Ethereum, Polkadot, Polygon, Solana, Cardano, NEAR Protocol, Cosmos, Injective and Selectia. Meanwhile, Coinbase offers staking across 19 different crypto networks, so it offers slightly more choice than Bitbuy.
OTC trading
Bitbuy offers over-the-counter (OTC) trading for high-volume investors through Bitbuy Alpha. This OTC trading desk can facilitate trades of at least $50k for BTC and ETH, and $20k for any other coin, and each client gets their own personal account manager.
Coinbase Prime is Coinbase’s full-service brokerage platform for institutional clients. It supports the trading of over 260 crypto assets and custodian services for more than 420 cryptocurrencies.
Customer support
Bitbuy offers an online help centre with answers to a wide range of frequently asked questions and problems. If you can’t find the answer you’re looking for, you’ll need to submit a support request. Coinbase also has a detailed online help centre as well as a virtual assistant to help you find a solution to your account problem.
What does Reddit think of the Bitbuy vs Coinbase debate?
Bitbuy and Coinbase both receive generally positive feedback on Reddit. These platforms earn praise for being legit and reliable crypto exchanges that offer an easy way to start trading. Users typically report a simple process to sign up, make deposits and buy crypto.
However, some users criticize the platforms for high fees, especially Coinbase, while others complain about delayed withdrawals and frozen accounts on Bitbuy.
Who’s the final winner?
Bitbuy and Coinbase both have their strengths.
Bitbuy’s appeal is simple: It’s a Canadian platform with lower fees than Coinbase, and it makes it easy to buy crypto with Canadian dollars.
Where Coinbase shines is in its support for a much wider range of coins and tokens, and in the fact that its website and app are both very user-friendly for new crypto investors.
If you want lower fees, Bitbuy is the winner.
If you want lower fees, Bitbuy is the winner.
But if you want easy access to a wider range of cryptocurrencies, Coinbase is a better choice.
Alternatives to Bitbuy and Coinbase
Still not sure whether Bitbuy or Coinbase is the right platform for you? There are plenty of other legit crypto exchanges worth checking out.
Kraken
Founded in 2011, Kraken is one of the oldest and best-known crypto exchanges in the world. It offers crypto trading in over 190 countries, offering features to suit beginners as well as experienced traders.
Create a Kraken account and you can trade over 630 assets. This includes major coins and tokens like Bitcoin, Ethereum and Solana, along with a host of other popular and more obscure altcoins.You can trade online or via a user-friendly mobile app. Staking is supported too, while live chat customer support is available 24/7.
Paybis
Paybis is a major global crypto exchange available in over 180 countries around the world. It lets you buy over 80 cryptos with Canadian dollars and sell fewer than 10 popular cryptos.
Founded in 2014, Paybis is designed to make it easy for newcomers to break into the world of crypto. Fast debit and credit card purchases are supported, while crypto swaps are also available.
Once you sign up for a Paybis account, you can trade online or via a highly rated mobile app, and 24/7 online support is available if needed.
VirgoCX
VirgoCX is a Canadian crypto exchange headquartered in Toronto. Designed to offer easy crypto trading, this platform provides access to over 90 cryptocurrencies.
VirgoCX allows you to create an account and buy crypto in a matter of minutes. Instant funding is available via e-Transfer, and the platform offers free cash deposits and withdrawals.VirgoCX is also a non-custodial platform, so you’re responsible for managing your crypto private keys in your own external wallet.
Wealthsimple
Wealthsimple started out as a robo-advisor but now offers a host of banking and investment services to Canadians. These include a crypto trading platform, which allows you to trade over 140 popular cryptos.
Wealthsimple aims to offer a user-friendly trading experience for Canadian investors. Its intuitive app makes it quick and easy for crypto newbies to get started, while crypto staking is supported too.
This regulated platform also supports multiple deposit methods for added convenience. Best of all, you can also use the Wealthsimple app to trade stocks, ETFs and more.
Frequently asked questions about Bitbuy vs Coinbase
Sources
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. 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.
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