I spoke to the team over at Bitbuy and they told me about what's going on a Bitbuy and what makes this exchange unique in 🇨🇦. Be sure to check out my Bitbuy review video below where I do a thorough walkthrough of the platform and features, fund my account and make a live trade. (You might be surprised at how low the fees are, as I was in the video.)
First up, Bitbuy is the ONLY crypto exchange in Canada that has 100% fully insured crypto holdings. Yep. Any Bitcoin you have on the platform is insured by Knox Insurance based out of Montreal… automatically. And at no extra charge!
That is freaking awesome!
Not only that but Bitbuy has a few other benefits going for it.
Get a bonus when you deposit $250 on the platform. Note: you don't need to trade all $250, but it's a great ROI to make that deposit!
Bitbuy Vs Shakepay Vs Newton:
How does that work when Newton and Shakepay both claim to have zero-commission trading? It's the spread. The spread at Bitbuy is SIGNIFICANTLY lower than both of those popular exchanges.
Bitbuy values transparency, and they show the actual fee paid in your transaction reports, which is great for writing off those fees at tax time. I really like that they are no trying to pretend there are no fees, and instead are focused on providing liquidity and low fees as a reputable exchange should.
Bitbuy has a username vs email-based system which is nice, and they have exceptional security. I think this is one of the most secure cryptocurrency exchanges in Canada.
Bitbuy has been independently audited and has verified that they have exceeded their internal mandate of 95% of the funds in cold-storage. (This means your 💰 is safe when you have it on their exchange.) You can read the summary of the audit here or read the full report here.
Bitbuy has a very simple interface. I would rank it as the next in ease after Shakepay. This is ideal for most investors, but they also have a full advanced trading platform that has the order book, customizable charts and all that stuff for the ButBuy Pro Trade features.
Lastly, they have a nice variety of altcoins, some of them less common, which allows a 🇨🇦 investor to dig into some very cool crypto projects without the trouble of going to an external exchange like Kraken or Bittrex.
Bitbuy has 2 new altcoins dropping this month, AAVE and LINK, and the Bitbuy team promised more on the way.
All in all, I loved the experience with Bitbuy and I was surprised by how low the fees were.
Bitbuy Review & Tutorial With Live Purchase
I love checking stats on my app. So having a good app is important to me as an investor.
Bitbuy has a newly designed iOS and Android app. These make it easy to place trades quickly if you are on the go. I was impressed with the number of positive reviews of the App in the App Store, and part of the video I go into the app.
Recently the Bitbuy team shared a wordcloud that described the work environment over at Bitbuy in Toronto. I thought I would share it so you get a different sense – and internal perspective of Bitbuy.
Bitbuy also has an API. The API can connect to trading software if you are doing a certain volume, or to read-only for free. You can request this from the team. The API connects to tracking platforms like Koinly and CoinStats (who have an awesome lifetime deal right now!)
Bitbuy Video Timestamps:
00:00 Bitbuy Review
1:19 Bitbuy Security Features
2:21 Fully Insured BTC
3:35 Proof of Audit Report
7:05 Main Features
9:57 Bitbuy Apps for iOS and Android
10:17 Altcoins supported
11:43 Express Trade
13:37 Transaction History
14:27 Pro Trade Features & Tutorial
18:43 Bitbuy fees
21:37 Bitbuy Review & Summary
I really enjoyed the experience of buying crypto from the Bitbuy App. They really are a good exchange to use. The Express Trades are very simple to execute, while you can look at the order book and see advanced charting data. This makes it easy to develop as a trader and crypto investor.
I LOVE the fact that the fees are not only super-low, but the spreads are low, and the fees are transparent, not hidden. I feel that Bitbuy respects it's customers by being transparent on this issue.
Lastly, I'm excited for the future of Bitbuy. They already have a nice selection of coins, and they are committed to slowly adding more coins as requested by their growing customer base, which is about 40,000 users right now.
Lastly, any Bitcoin you have on the exchange is 100% insured at no extra cost. This is a nice little perk, especially for people who are a little scared of BTC's volatility but are starting to understand that this is an asset class you can't afford not to invest in.
Want to get started with Bitbuy?
Any questions, feel free to ask in the comments.
Hey, I'm Andrew. I moved to Lisbon, Portugal from Canada. Follow my journey here.
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