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Bitbuy Review – Is it Legit? (July 2024)

Well-Regulated and Popular Crypto Exchange Focused on Canadian Traders

Reviewed By |

Overall Rating



Fees: 0.2%

Best For: Well-Regulated Trading

Warning: Trading in cryptocurrency is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

Bitbuy is a Canadian cryptocurrency exchange that is proudly focused on serving Canadian traders. The exchange was established in 2016 and has grown to become a popular and trusted marketplace for Canadian crypto-traders with now more than 350,000 users. 

In this Bitbuy review, we will take an in-depth look at all key areas of the exchange including the security measures in place, assets available to trade, and the fees associated with using Bitbuy. This should provide detailed insight and help you make the most informed choice of where to trade.


  • FINTRAC registered and OSC regulated
  • Trading platforms for novice and advanced users
  • Flat rate trading fees
  • Canadian Dollar fiat deposits supported


  • High minimum deposit for bank wires
  • Limited asset selection



Having been around for several years, Bitbuy has developed a strong reputation for being a trustworthy and transparent operation. Their credibility has been enhanced on a number of fronts including being the first exchange in Canada to conduct proof of reserve audits which they began in 2019 and have carried out each year since.

The exchange is also registered as an MSB under FINTRAC the Canadian financial regulator. In December 2021 the exchange became the first cryptocurrency marketplace in Canada to be registered by the Ontario Securities Commission. They are also currently the only Canadian platform listed on Coinmarketcap. 

When it comes to security while trading with Bitbuy, they are also conscious of creating a secure environment. Device and 2FA Authentication via Google Authenticator and Authy are in place for those trading through the platform. This is in addition to the cold storage of assets provided. More than 99% of crypto on the exchange is held in cold storage. Of this 99%, an average of 98.12% as of the most recent audit, is held as proof of reserve.

Bitbuy also has a comprehensive insurance policy in place from BitGo for coverage in the event of any loss and works with top Canadian banks to accept Canadian Dollar fiat deposits.

Investment Products


The range of cryptocurrencies available to trade at Bitbuy is relatively limited when compared to some other major names in the industry, but you can still expect to find all of the most popular assets alongside some other cryptocurrencies as they get added to the platform. 

All of the following cryptocurrencies can be traded in pairs with the Canadian Dollar: 

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), EOS (EOS), Aave (AAVE), Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), SushiSwap (SUSHI), Chainlink (LINK), Solana (SOL), Polygon (MATIC), and Uniswap (UNI). 

Even though this is quite a limited selection, the exchange often makes additions to their assets selection based on the relevant cryptocurrencies available in the market. They also provide good liquidity with a growing number of traders having traded more than $4 billion in cryptocurrency through the platform to date. Additional trading pairs, more than 20 in total, are available through the Bitbuy ProTrade service.

Commissions & Fees


Bitbuy fees are competitive in line with the rest of the industry with an easy-to-understand structure in place across the board for traders. This fee structure varies depending on how you trade with the exchange. If you are using their Express Trade function then a flat fee of 0.2% on buying and selling applies to all cryptocurrencies. 

If you are a Bitbuy ProTrade user or using an API client to trade, then there is a 0.1% maker fee along with a 0.2% taker fee. This again is the same fee on all available markets. For liquidity providers, the maker and taker fees are also 0.1% and 0.2% respectively if you have accumulated under $1.5m CAD in total maker fees paid in the previous 12 month period. If you exceed $1.5m CAD, there is no maker fee and a 0.1% taker fee.

On deposits and withdrawals, there is a $50 minimum deposit with Interac e-Transfer and a $10,000 maximum in a 24-hour period. A fee of 1.5% applies to these deposits. The minimum bank wire deposit is $20,000 with a $500,000 maximum and a fee of 0.5%. The same minimum and maximum limits apply to withdrawals with a 1.5% fee on Interac e-Transfer withdrawals and a 1% fee on withdrawal via bank wire.

Trading Platforms


There are several trading platform options available at Bitbuy. These allow you to choose the best option based on your experience level and trading needs. The most user-friendly and streamlined trading platform is Express Trade. This is available in your web browser, or on mobile and offers a simple way to quickly buy and sell crypto with few complications. 

For more advanced users, there is ProTrade. Again this platform is available in your browser and you will have access to more charting data and order types for a highly-customizable experience. 

For trades of more than $50,000, you can utilize the Bitbuy OTC trading desk. Here you will have your own dedicated account manager and OTC desk trader to assist and support you where needed. There is a corporate option if you wish to trade under a company account, and the Bitbuy API is available for those looking to automate trading and make repeat purchases.

Customer Support


A number of support functions through which the Bitbuy team are available and you can answer questions are provided for through the company homepage. These include a contact page where you can reach the company by email, a well-resourced FAQ section with the answer to many of the most commonly asked questions, and a support ticket-based system if you cannot find an answer. 

You can also reach out to the customer service team through one of their many social media channels for a fast and professional response.



In all, Bitbuy is a very secure, well-respected location for trading cryptocurrency. This is particularly true for Canadian traders and is shown in the number of users that the company has. They continue to pursue innovation on the trading side, as well as quality regulation and a safe trading environment which is of great importance. 

With 350,000 traders already using the exchange and a popular selection of assets available to trade through several trading platform options, Bitbuy presents a very appealing proposition for those at all experience levels.

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