Bitbuy Review 2025: Best Crypto Exchange In Canada?

Last updated: 11/06/2025 15:01

Due to the growing popularity and wider adoption of cryptocurrencies around the world, including in Canada, an increasing number of crypto exchanges have emerged in order to capitalize on this trend. In the Canadian crypto scene, choosing the right exchange is crucial, whether you are buying your first Bitcoin or executing more advanced trades. However, with so many crypto exchanges offering similar benefits and features, investors, especially novices, may find it difficult to choose the right one.

Bitbuy is one of the few exclusive cryptocurrency exchanges that caters only to Canadians. In this article, we will take a close look at the Bitbuy cryptocurrency exchange. By the end of the article, ‘Bitbuy Review 2025,’ you will have a clear idea of its pros and cons, platform features, supported coins, user experience, security, fees, and customer service.

Table of Contents

What is Bitbuy: A Brief Overview
Pros & Cons of Bitbuy: A Brief Summary
Cryptocurrencies Available on Bitbuy
Bitbuy Fees
Bitbuy Security
Bitbuy Ease of Use
Bitbuy Customer Service
Bitbuy Exchange Features and Advantages
Is Bitbuy Legit and Safe?
How to Trade Crypto on Bitbuy?
Best Bitbuy Alternative
Final Thought
FAQs About Bitbuy

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What is Bitbuy: A Brief Overview

Bitbuy


Name	Bitbuy
Launched	04/2019
Website	https://bitbuy.ca/
Blog	https://bitbuy.ca/en/resources
Twitter	https://twitter.com/bitbuy
Maker Fees	0
Taker Fees	0
Perpetual Trading volume(24h)	$ 0
Perpetual Trading Pairs	0
Spot Trading volume(24h)	$ 0
Spot Trading Pairs	0
Fiat Supported
Update Time	2025-11-28 07:28:35

Bitbuy is a Toronto-based cryptocurrency exchange, founded originally as InstaBT in 2013 and re-branded to Bitbuy in 2016 under founder Adam Goldman. With the goal of simplifying the crypto trading process for Canadians while maintaining a high level of security and compliance, Bitbuy has become one of Canada’s leading exchanges, with thousands of active users and significant daily trading volumes.

The platform is designed exclusively for Canadian users, offering Canadian dollar (CAD) deposits and withdrawals with local funding methods (e-Transfer, wire) and a focus on compliance with Canadian regulators (e.g., registered with FINTRAC as a Money Services Business). Bitbuy offers two main trading modes: “Express Trade” for beginners (simplified buy/sell) and “Pro Trade” for more advanced users (limit orders, order book, deeper tools).

Compared to its competitors, Bitbuy is well-regarded for its user-friendly interface and strong regulatory backing. Despite facing competition from global exchanges, Bitbuy remains a top choice for Canadian traders looking for a safe and reliable platform. For Canadians seeking regulated, local support and native bank funding, Bitbuy provides a smooth and secure experience.

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Pros & Cons of Bitbuy: A Brief Summary

While we liked the user-friendliness of the platform and its compliance with the law, there are a number of areas of the Bitbuy exchange that we think could be improved. If you don’t have time to read the full review, here is a brief summary to help you get to know the exchange.

Pros

Cons

Strong regulatory credentials: Canada’s first registered crypto marketplace (OSC & CSA approved)
User-friendly interface suitable for beginners, plus a mobile app rated well in Canadian app stores.
No deposit fees for many common funding methods (e.g., Interac e-Transfer).
Free withdrawals via Interac e-Transfer (in many cases).
Robust security: Bitbuy operates a policy of 95% cold storage of coins and requires two-factor authentication to be set up with each customer account.

Smaller crypto selction: only 50+ tradeable coins
Fees/spreads may be higher than ultra-low-cost global exchanges (especially on the beginner “Express” mode).
Only Canadian fiat (CAD) supported—if you want USD or other currencies, you’ll need to use another platform.
Some user complaints are around customer service responsiveness and support channels (e.g., limited live chat).
Advanced trading features (margin, futures) are limited or absent compared to global crypto derivatives platforms.

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Cryptocurrencies Available on Bitbuy

Bitbuy supports over 50 assets, including a selection of major and mid-cap cryptocurrencies. These include typical coins such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Solana (SOL), and Cardano (ADA), among many others.

While this selection is adequate for most users, it is not as extensive as that of specialized global altcoin exchanges, which list hundreds or even thousands of tokens. Those interested in buying the most popular coins will find Bitbuy has more than enough to offer. However, if you’re looking for a platform with more possibilities, there are other options to consider.

Bitbuy also offers fiat-to-crypto and crypto-to-crypto trading pairs in its ‘Pro Trade’ mode, providing a more advanced experience for users looking to trade assets rather than simply buying with CAD. While Bitbuy’s focus on CAD pairs is ideal for Canadian users, the selection may feel limited for advanced traders accustomed to global exchanges with hundreds of pairs.

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Bitbuy Fees

Fees are a critical component of any exchange decision, and Bitbuy’s fee structure merits close review.

When depositing or withdrawing Canadian dollars, users will pay between 0.50% and 1.50%, depending on whether they are making a Bank Wire or Interac e-Transfer deposit or withdrawal. However, this issue only arises when depositing fiat currency. When it comes to digital cryptocurrency deposit and withdrawal fees, they’re completely free.

Deposit & withdrawal fees

Transaction type	Fee
Deposit funds	Crypto: 0% (network fees apply) Interac e-Transfer: 0% Wire transfer: 0%
Withdraw funds	Crypto: varies Interac e-Transfer: 0% Bank deposit: 1.5% Wire transfer: 1.5%

Moving on to trading fees, these tend to differ for market makers and takers. Bitbuy uses a maker-taker fee structure for spot market trading. Instant purchases incur an additional fee. Note that Bitbuy also charges a spread, which may not be displayed when making a purchase. In most cases, maker fees tend to be lower than taker fees. Some exchanges even offer a negative-fee model for market makers. This is also known as a rebate.

Feature	Fee Type	Fee Amount
Bitbuy Trade	Spread	0.5% to 1.85% (up to 3.85% during adverse market conditions)
Bitbuy Pro	Maker & Taker Fees	0.50% Maker and Taker Fees
OTC	Spread	0.5% to 1.85% (up to 3.85% during adverse market conditions)
Staking	Staking Fee	Up to 30% on staking rewards

The standard trading fee is usually around 0.25%. With the ‘Bitbuy PRO’ version, the maker fee is 0.10% and the taker fee is 0.20%. Using the ‘Express Trade’ feature incurs a fee of 0.20% for each instant trade. These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits.

Bitbuy Security

Although there are a variety of factors to consider when choosing a cryptocurrency exchange platform, one is considered the most important. That’s security.

User-side security: Every Bitbuy user must confirm their identity, meaning the platform can ensure there are no fake accounts or scammers. This protects users from impersonation and scams. Users must also submit more information than is required by most other exchanges to create an account, and KYC information is securely stored.

Past hack record: Bitbuy has been operating since 2016 and has never been hacked.

Regulation: Bitbuy is registered as a money services business (MSB) with FINTRAC and is a member dealer of the Canadian Investment Regulatory Organization (CIRO), as well as a restricted dealer of the Ontario Securities Commission (OSC).

Insurance: 90% of all crypto assets are held in cold storage for safekeeping. Bitbuy has a comprehensive insurance policy with BitGo, a licensed digital asset custodian. Cash assets on Bitbuy are insured up to $1 million per account.

Security audits: Bitbuy regularly conducts third-party financial audits, monthly security audits, and transaction reporting audits. The exchange’s servers are protected by cloud providers that are ISO, SOC and FIPS 140-2 compliant. All users must set up two-factor authentication (2FA) before executing trades.

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Bitbuy Ease of Use

When evaluating a cryptocurrency exchange, ease of use is an important factor to consider. Bitbuy offers a reliable and responsive trading platform with a user-friendly interface that allows users to navigate and execute trades smoothly and efficiently.

Bitbuy has two trading platforms available at its exchange: The Express Trade platform is quick and simple, while the Pro Trade platform is more advanced.

The Express Trade platform offers a quick and simple way to buy crypto. It is perhaps best suited to beginner traders looking for the most efficient way to acquire crypto.

Express Trade Account

More advanced traders will probably prefer to trade on Bitbuy’s more advanced trading platform. This is more like a typical exchange, with customer order books matched by an exchange ‘matching engine’.

There are also a host of other features packed into this advanced trading platform. For example, users have far more charting functionality than on the Express Trade platform.

Bitbuy Pro

Furthermore, Bitbuy offers a wide range of educational resources providing informative, accessible, and practical guidance to help traders of all experience levels.

What is more, when it comes to usability, Bitbuy makes it even easier by providing users with automated sign-up and onboarding processes. Moreover, they have a new “username” feature for an even smoother experience, especially when it comes to logging in.

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Bitbuy Customer Service

Customer service is often a key factor in differentiating between exchanges, especially when issues arise, such as problems with withdrawals, verification delays or trading anomalies. Many cryptocurrency exchanges have a reputation for poor customer support. Users often have to wait days for responses to their queries or for their accounts to be verified.

The main support options offered by Bitbuy include:

Ticket form submission via the official website
Self-service help centre for FAQs.

In Bitbuy reviews, users have shared mixed experiences regarding the support team’s responsiveness.Some users report good support responsiveness and smooth resolution of standard issues. For example, reviews on the Apple App Store mention that ‘customer service seems excellent – very responsive and quick’. However, some users were disappointed that Bitbuy removed the option to contact customer support via telephone or online chat.

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Bitbuy Exchange Features and Advantages

Beyond the basics, Bitbuy offers several features that enhance its appeal:

Instant account verification: Bitbuy requires personal information like your name, address, date of birth, and other details for their third-party identity verification service to verify your account instantly.
Rest API: A Rest API allows developers to automate trades in conjunction with Bitbuy’s exchange.
Variety of order types: These order types allow a customer to perform the types of trades they want at set prices for cryptocurrencies.
Referral Program: For every person who signs up and makes a $250 deposit with a user’s referral code, both will receive $20.
Low latency matching engine: Bitbuy’s infrastructure provides quick and easy transactions to occur without interruption.
Reputation & regulatory local presence: For Canadians, the fact that Bitbuy is fully local (CAD funding, Canadian registration) is a meaningful advantage over some global platforms that may have fractional Canadian support or fiat-limitations.
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Is Bitbuy Legit and Safe?

Bitbuy operates legitimately within Canada’s regulatory framework. It is registered with the relevant authorities and provides CAD deposit and withdrawal services. It also maintains transparency around key features such as security and funding. With a strong focus on security and transparency, Bitbuy is continuing to establish itself as one of the safest Canadian cryptocurrency exchanges.

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How to Trade Crypto on Bitbuy?

Start trading on Bitbuy is easy and strigtforward. Here is a step-by-step guide:

Step 1: Sign-up for a Bitbuy account: Provide email, create password, complete KYC (upload ID, proof of address).

Step 2: Fund your account: Use Interac e-Transfer or wire transfer to deposit CAD into your Bitbuy fiat wallet. In many cases, deposits via e-Transfer are free and fast.

Step 3: Choose trading mode:

Express Trade: simple buy/sell with CAD
Pro Trade: switch to advanced view for limit orders, crypto-to-crypto pairs.

Step 4: Place trade: Select asset (e.g., BTC, ETH), specify amount or CAD value, review fees/spread, confirm.

Step 5: Withdraw (optional): You can withdraw crypto to your personal wallet (paying network fees) or withdraw CAD back to your bank account. Note: bank/wire withdrawal may carry fees (~1.5 %).

Trading Tips: As always, check the latest platform details, withdrawal restrictions, and ensure you’re comfortable with fees before large trades.

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Best Bitbuy Alternative

Alternatives to Bitbuy are particularly appealing to traders who prioritise factors such as a broad selection of cryptocurrencies, and specific trading options like futures or margin trading. When looking for the best Bitbuy alternative, interested investors are recommended to consider BTCC, one of the world’s longest-serving crypto exchanges.

Founded in 2011, BTCC stands out as a trusted and well-respected exchange due to its unwavering commitment to security and transparency. Since its establishment in 2011, BTCC has boasted an impeccable security track record, with zero reported hacks or breaches. Holding licenses in the U.S., Canada, and Europe, BTCC provides a comprehensive suite of trading features within a secure and regulated platform.

With a mission of providing a trading platform that is fair and reliable in every sense, BTCC platform supports spot trading for over 360 cryptocurrencies, crypto futures trading with leverage up to 500x, crypto copy trading that allows users to follow experienced traders, demo trading accounts pre-loaded with $100,000 in virtual funds, and tokenized futures for stocks and commodities.

At present, BTCC offers service in more than 100 countries and regions with more than 9 million registered users.When looking for the best Bitbuy alternative, BTCC is undoubtedly worth considering.

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Final Thought

Bitbuy is one of the most recommended cryptocurrency exchanges in Canada. It is a centralised exchange that focuses on security and supports major cryptocurrencies. It offers a built-in wallet and mobile app, as well as other useful products and services that enhance the user experience.

For Canadian investors looking for a regulated, CAD-native cryptocurrency exchange in 2025, Bitbuy is among the top contenders. However, there are also a few drawbacks associated with this platform. Bitbuy offers relatively high fees, it can be used by Canadian citizens only, and there are still room for improvment in terms of customer support. Also, while it currently supports only 50+ cryptocurrencies, it’s definitely suitable for beginners but may not be as good for experienced traders.

In conclusion, as with any investment, users must conduct their own research and understand the risks before trading on Bitbuy platform. For those looking to enter the crypto market or expand their existing portfolios in Canada, BTCC is undoubtedly the best Bitbuy alternative.

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FAQs About Bitbuy

Is Bitbuy legit?

Yes, Bitbuy operates legitimately within Canada’s regulatory framework. It is registered with the relevant authorities and provides Canadian dollar deposit and withdrawal services.

Will Bitbuy be available in countries other than Canada?

No, Bitbuy only operates in Canada and has no plans to expand to other countries.

Does Bitbuy have a referral program?

Use a referral code when signing up with Bitbuy to earn $20 after spending $250. The referrer will also earn $20.

Is Bitbuy a good crypto exchange?

It is one of the safest exchanges in Canada, providing users with all the necessary tools to get started. With two-factor authentication for logging in and independent auditors to verify the amount of cryptocurrency Bitbuy holds, it is one of the few exchanges in the world with such high standards of transparency and security.

What is the best Bitbuy alternative?

When looking for the best alternative to Bitbuy, interested investors are recommended to consider BTCC , one of the world’s longest-serving crypto exchanges.

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BTCC Guide:

BTCC Exchange Review 2025

Understanding KYC In Crypto: How To Complete KYC On BTCC

Why Choose BTCC Futures: A Comprehensive Guide For All Traders

A Beginner’s Guide: What Is Copy Trading & How To Start Copy Trading On BTCC

How to Use BTCC Demo Trading: A Step-By-Step Guide For Beginners In 2025

What Is Spot Trading In Crypto & How To Start Crypto Spot Trading On BTCC: A Comprehensive Guide For 2025

BTCC Referral Code 2025: Inviting Friends To Sign Up On BTCC

Crypto Investing Guide:

BTCC vs. Bitbuy