Very easy to use platform with e-transfers and customer support has always been responsive for the few times I've needed them. As other cryptocurrencies are also available, Bitbuy allows professional traders to make more strategic decisions when it comes to making purchases. To set itself apart from other Canadian crypto exchanges, Bitbuy focuses on providing fast sign-ups, easy trades and quality customer service.As the exchange plans to expand to the global stage, now may be a good time for Canadians to take a look at what Bitbuy has to offer. Another excellent feature of Bitbuy is that withdrawing cryptocurrencies doesn’t involve payment of any sort of fees. The website doesn’t have a lot of clutter, which makes it more streamlined, especially for those who are new into crypto investment. Formerly known as Instabit in 2013 and rebranded Bitbuy in 2016, it has expanded its operations with more digital currency offerings including Eos and Ripple. Bitbuy Referral Program. Goldman had said that once people became familiar with blockchain and Bitcoins, their next step was to learn how to buy them and InstaBT was created to help them in doing so. New comments cannot be posted and votes cannot be cast, Press J to jump to the feed. Your referral also gets a $20 welcome bonus. Fund your account using Interac e-Transfer or bank wire. It’s still pretty comfortable for the Canadian. Bitbuy only operates in the Great White North, so the only comparison between this exchange and Coinbase that would make any sense would be … Solid Canadian exchange (live order book) with long standing reputation. Instant verification: Opening a Bitbuy account takes minutes and registration is a particularly simple process. Anyhow, they offer another option which is uploading a picture of valid ID (Canadian Driver's Licence, Passport, etc..) and I'm hesitant of doing so. The features in the mobile version are the same as you would see in web-based browsers and they run very smoothly. For both you and your referral to qualify for the $20 bonus, they must make an initial deposit of $250 CAD or more. I've been using Bitbuy for a long time and never had an issue. INDUSTRY LEADING SECURITY: 95% cold storage policy and 2FA enabled … If you know any users that want to also take advantage of the first 30 days of 0% trading fees then it makes sense to refer users to sign-up for a Bitbuy account and have them sign-up for the Bitbuy Pro promotion. Bitbuy is known to be a user-oriented platform that makes buying top cryptocurrencies easy, fast, and convenient. It is clear that the exchange is on a growing path as evident by the website redesigns and executive hires made this year. 1POKVVATX. Input your account information and then click the “Verification” link back in the “Account” menu to upload your documents. You’ll be redirecte… We prefer just going through the standard registration process – we would rather not let facebook know we are using a bitcoin exchange, for the obvious reasons. Things have been intense for Robinhood for the past few months as it […], Sheila Warren, an expert with the World Economic Forum has warned that there would be drama on Bitcoins regulation. Operating the platform is immensely easy for new traders and they can begin trading right away. TL;DR Do you consider Bitbuy a safe and reliable platform? Regarding Trulioo's validation: I just got an email by Bitbuy Support saying that the only immigration status that Trulioo validates (if you're not a citizen of course) is PERMANENT RESIDENT...otherwise it seems like you'll have to go through the manual verification process by submitting these four: Newton and shakepay seem to be the go-to onboarding platforms in Canada. To give you some context, I'm not Canadian but I've been living in Canada for 3 years now, did my masters here and I work in high tech, and I hold a work permit. Their aim was to provide Canadians a simple way of buying Bitcoins, which could then be traded on other platforms. From Michael Saylor’s offering […], Despite the rapid boom of Bitcoin, pegged to be the foremost and most valuable cryptocurrency in the Blockchain space, the digital assets have not being spared from criticisms. Bitbuy is one example of this phenomenon, as it’s been around since 2016 and is one of the most trusted exchanges in Canada. Required fields are marked *, √ Crypto Comeback Pro is Not a Scam According to FINTRAC, the Canadian regulator, Bitbuy cannot be qualified as a money services business (MSB) under the current laws and regulations, which could indicate that it is unregulated. Massachusetts regulators move towards revoking the online brokerage company’s dealership as sources claim the firm targets, inexperienced traders. If there is nothing there, please follow up with us by contacting verifications@bitbuy.ca. Individuals need to submit a photo of their government-issued photo ID, a selfie of themselves holding the ID, and a picture of a proof of residence. Find Out If It Is Licensed and Regulated or Not! I’ll close the thread then :). Ademar Gonzalez and Adam Goldman originally named their Bitcoin exchange InstaBT when they established it in 2013. gets passed through our third-party identity verification service, which will confirm your identity and verify your account instantly. A range of crypto services especially for businesses is offered by First Ledger Company, Bitbuy’s corporate parent. The user interface is well designed with beginner and pro features however you can't avoid the expensive deposit fees unless you fund your account with crypto. √ %84 Claimed Win rate However, as with all platforms/exchanges, never keep your crypto on there for an extended amount of time, and ALWAYS use 2FA whenever possible. They have stated that this could take between 1-3 business days to process. However, the important thing to note is that Bitbuy is geared towards conversion of Canadian dollars into cryptocurrencies, which it does rather well. Bitbuy is a digital currency platform that’s owned and operated in Canada. To create an account on BitBuy … Apart from their ‘Premium’ service and trading platform, Bitbuy is also working on introducing their own cryptocurrency wallet. There are four options at your disposal when you want to deposit money on Bitbuy. You will need to set up two-factor authentication with your Canadian telephone number. Canada’s Anti-Money Laundering (AML) and Know-Your-Customer (KYC) regulations are complied with by Bitbuy. Bitcoin is a digital currency that has been around for almost a decade now. Buying and selling also involve some trading fees, which are 0.75 percent and 0.5 percent respectively. This is the ‘one-time only’ KYC verification process to ensure that nobody is signing up using your lost ID or that users aren’t being scammed. Bitbuy makes it simple to buy, sell, and manage your cryptocurrency portfolio. One of the fastest way to buy bitcoin in Canada. Customers also have the option of depositing money through bank wire transfer, but a minimum of $5,000 have to be deposited if you are using this option. They may not have much of a selection, but what they have is intuitive, easy to use and executed without much toil. The major crypto exchanges are scanned by Bitbuy to find the best rate available so trades can be made in real time. Bitbuy dashboard makes it easy to manage and track your crypto; Go to site. Dollars can easily be traded for cryptocurrencies by beginners and there are plenty of support options they can explore if they need help or have any questions when using Bitbuy. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. Answers to general questions can be found by Bitbuy users in the knowledge base of the company. Toronto-based advisory firm by the name of Halpern & Co acquired Bitbuy and its parent company, First Ledger Corporation. It was created in 2009 by Satoshi Nakamoto, but the developer’s true identity has never been verified. Anyone who has become frustrated with the inconsistent and new exchanges that are being introduced regularly can make the switch to Bitbuy and enjoy a wonderful experience. Now it’s time to set up your two-factor authentication. This is about the standard waiting time for non-automated verifications. Safety features: Bitbuy uses SSL (Secure Socket Layer) technology to offer protection to its users. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. They also use KYC verification and 2-factor authentication for added security. The exchange has good support available through its live chat, or via phone & email. Eventually, over the years the company evolved into Bitbuy and the lineup of cryptocurrencies was expanded and over-the-counter services were introduced for high volume traders. Bitbuy verification time is 1-2 business days. Instead of being a one-stop-shop for all sorts of crypto-related services, it focuses on building trust by being user-friendly, regulatory compliant, and focused cryptocurrency exchange. Between Newton and Shakepay, Newton has slightly better fees but shakepay releases the funds right away whereas with Newton you will need to wait 4+ business days for the funds to clear before you can send the crypto off the platform. I wonder if Trulioo wasn't able to identify me due to this reason? Bitbuy Pro maker/taker fees are down from 0.16%/0.26% to 0.1%/0.2% and the Bitbuy Express trade sell fee is down from 0.75% to 0.5%. The narrow focus and small size of the crypto exchange platform seems to have worked in its favor. Been using it for 2+ years regularly. It took 23 days to grow from 30K->35K—the second fastest 5K split behind 25K-30K at 13 days. Thank you much for the clarification! It took some time for the world to embrace Bitcoin, but it eventually found its way in to the U.S. financial markets. Bitbuy has been quietly building a small but dedicated following from its home base in Toronto. When using this exchange, traders are not restricted to just purchasing Bitcoin. Get started today with our easy-to-follow guide to opening an account. There are four cryptocurrencies that are supported on Bitbuy, which include Bitcoin, Ethereum, Bitcoin cash and Litecoin. Even though Bitbuy is mostly designed for individuals, it does permit people to make trades on behalf of a business in Canada. You're referral code is just $20. The last time BitcoinCA subs were greater than BTC-CAD was Oct. 25th 2020 - 135 days ago. Bitbuy is not a terrible provider, far from it. The low fees combined with consistent and quick processing time for deposits and withdrawals, makes Bitbuy one of the best options available for buying cryptocurrencies in exchange for Canadian dollars. It has been created for customers who have a higher order volume and provides them with access to prioritized withdrawals, lower fees and exclusive promotional offers. Their aim is to simplify the trading of digital currencies due to which they offer this particular service. 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