The process is also seamless as all the user needs to do is to select the crypto asset, choose the quantity and click on buy or sell. Also, transactions are quick, but the fees can be slightly higher when compared to the Pro Trade option. Bitbuy’s customer service is one of the best in the cryptocurrency industry. The first notable element is a customer support phone line which is usually a scarcity. Adding to this, email support is quick and responsive, replying to queries in under 12 hours, even on a weekend. Although if you would like to make a larger transaction the Bitbuy OTC desk is happy to help you personally.

Those who are happy praise the customer support and the ease of use. For a market order, simply enter how much of the crypto you wish to purchase and click “buy”. Note, you will need to have sufficient funds in your account first.

Get real human support

Bitbuy’s “Pro” option offers an enhanced viewing experience composed of an elaborate dashboard and various widgets for the more advanced trader. This tool is more intuitive for day traders, and offers a wealth bitbuy canada review of customizable options to suit your needs. When you sign up for Bitbuy, your account is instantly verified, meaning you can fund your account and start trading cryptocurrencies almost immediately.

what is bitbuy

If you are trading on the “Pro Platform” you will be charged according to a maker / taker fee schedule. If you are a taker you will be charged 0.20% whereas if you are a maker you will be charged 0.10%. Serving over half a million Canadian readers annually, Tech Daily was born to fill the void many of us have experienced when seeking information about technology in Canada.

Bitbuy Referral Program

We will cover this in more detail below in thereferral section. It is great to see an exchange engage in such transparency and the ecosystem would do well if more exchanges followed suit. Note that Bitbuy is fully transparent regarding their fees, so you can always have a look at this page to verify the current fees.

They’re also not replying to me so I have no access to my funds. My initial issue was the reports generated by Bitbuy was all on 1 line. Thought I would resort to use my API key instead, hence the support needed. He helped me out by giving me the right reports I needed plus the additional information regarding the use of the API with all the security precautions to take. From asking them how to do it, to having it all done took less than 30 minutes.

The spreads aren’t exactly big, but Bitbuy isn’t exactly immune to slippage either – especially if you’re going to trade in less liquid currencies, like EOS. On the second though, don’t bother with calculating volatility for the specific coin market you’re working with. What you need is to understand how liquid it is, and it’s not exactly hard.

With the Bitbuy affiliate program, you’re rewarded for promoting the Bitbuy exchange and having new users sign up using your provided affiliate link. The affiliate program rewards increase based on the number of new users that sign up to the exchange. Users are rewarded on a monthly payout once their commissions reach a minimum of CAD$500. If users wish to talk directly to a customer service representative, they can submit an email request through the form provided. The response time varies but is typically within 1-2 business days.

Especially when compared to other popular crypto apps Bitbuy has WAY lower fees for Canadians. Five of them are popular coins with a lot of prospects for money-making. EOS and XML, for their part, seem to be side projects of Bitbuy.

Even if you have no experience with cryptocurrencies, you will be able to use Bitbuy’s intuitive platform. Bitbuy is a Canadian cryptocurrency exchange founded in Toronto in 2016. Essentially, it allows you to execute your trading strategy with more precision and control. Besides, the trades are cheaper there – but it might be too overwhelming for inexperienced users. Bitbuy is a well-established platform with a large baggage of experience in the industry.

what is bitbuy

There were of course a few things that we thought warranted improvement. However, given that Bitbuy are constantly looking for feedback, it is likely that these improvements could be in the pipeline. We are aware that Bitbuy is making quite a few changes to their platform and technology as a result of their VC funding. Hence, we will eagerly await to see if these points have been addressed. So, all in all, a nifty piece of technology which could help Bitbuy secure the lucrative high skilled trader niche. If you were referred by a friend and they did not give you a link then you can use their referral code.

Hi Julissa, thanks for reaching out and connecting with us about this. It looks like we were very responsive in regards to your support tickets . It looks like this matter has been successfully completed and we thank you for your patience.

Ready to step into crypto?

Over-the-counter trading involves transactions between a buyer and seller, not an automated market maker. In other words, when you OTC trade, you’re making a deal with a single person or individual company rather than relying on an exchange to execute the trade. For serious crypto traders, you can email to inquire about API access. Getting Bitbuy’s API lets you automate your trading, which is necessary if you’re an algorithmic trader or are building any sort of trading bot.

However, it states it guarantees prompt responses to questions, and judging by Trustpilot reviews, Bitbuy backs up this guarantee. You can contact Bitbuy’s customer support by emailing Bitbuy also has a support help desk with answers to common questions users have. The Bitbuy referral program pays you $40 if people you refer open an account and make a deposit of at least $250.

  • When it comes to exchange transaction fees, Bitbuy operates a simple flat scheme.
  • Once you verify your phone number, Bitbuy sends an email with a link for further account verification.
  • The company is a subsidiary unit of the First Ledger Corporation who renders solutions to the investors.
  • Below is the step-by-step procedure of the registration process.

Moreover, this feature doesn’t confuse the users with any additional and unrequired tools. After all, what good does it do you to be able to perform transactions with every cryptocurrency in existence if it’s just going to get stolen? If you want an exchange that focuses on security, CoinSmart might be the way to go, especially given the volatility of the crypto market. Customers can either send an email to the support team or chat with a live representative.

Free Bitcoin Crash Course

The fact you can set market and limit orders is what makes this feature so appealing, and even beginner investors should take advantage of this functionality. Money transfers from a parent account to a child account are instant and free. And that’s something that not many other payment tools offer right now.

A user is required to have a minimum of CAD$50,000 or equivalent BTC or ETH in their user account before they can access the OTC desk. The Bitbuy blog is a key resource for new and experienced traders alike. It’s a news and educational resource that regularly posts updates on the exchange and the cryptocurrency industry in general.

Slippage occurs when there isn’t enough cryptocurrency available at a specific market price. The Bitbuy “Pro Trade” integrates additional functionality that caters to more experienced crypto investors. When they wish to trade, they can move the BTC back to their Bitbuy wallet or trade it for another digital asset within the non-custodial wallet. With bitcoin, you can purchase a Satoshi or buy an entire coin. It is entirely up to you to decide how much Bitcoin to buy, sell, and trade, which is the benefit of being a decentralized system. The peer-to-peer decentralized digital token maintains a maximum supply of 21 million coins.

Bitbuy Quick Summary

This feature will be especially useful for retail traders with high volume and also institutional investors. Ease of Usage – From creating an account in just a few minutes to making bank deposits and quick withdrawals, user-friendliness is at the core of Bitbuy. Therefore, users with zero crypto knowledge also can easily use Bitbuy. The online reputation is strong across all boards, some regard it as the number one Canadian cryptocurrency exchange.

To lodge a support request or ask a question, you can use the “Submit a request” button within the support section of Bitbuy’s site. Bitbuy also offer live chat support and quick response times via telephone and email. Bitbuy also has an address listed on its website, with an office located in downtown Toronto, Ontario. Yes, Bitbuy is a legitimate cryptocurrency exchange founded in Toronto in 2016.