Bitbuy Login: Secure Crypto Access
In the world of leading cryptocurrencies in the financial sector, more and more crypto traders and investors are continuously showing interest in crypto trading for generating a passive income.
Last updated
In the world of leading cryptocurrencies in the financial sector, more and more crypto traders and investors are continuously showing interest in crypto trading for generating a passive income.
Last updated
Bitbuy is a regulated Canadian cryptocurrency exchange that offers a cost-effective, secure, and user-friendly platform for buying, selling, and trading digital assets. It is known to be a user-focused platform with solid customer support, that makes buying top cryptocurrencies easy, fast, and convenient.
Bitbuy has been around since 2013 but was originally called "InstaBT". It was founded by Adam Goldman and Ademar Gonzalez.
InstaBT was created as a way for Canadians to quickly and easily get their hands on Bitcoin. For those who can remember, 2013 was still a relatively new time in the crypto markets and exchanges to easily buy Bitcoin were few and far between.
As the exchange progressed, they decided to re-brand to Bitbuy and included a number of other cryptocurrencies on the platform. However, Bitbuy wanted to expand their offering dramatically and accepted an investment from a private equity firm in 2018.
After the investment, Gonzalez left Bitbuy and was replaced by Chris Ragobeer. They are also joined by Jordan Anderson as the VP of Sales and Marketing as well as Dean Skurka who heads up compliance.
The Bitbuy offices are located in Toronto, Canada. They are actually a subsidiary of the First Ledger Corporation which is a blockchain services company.
The primary operation of First Ledger Corporation is the Bitbuy exchange although they do offer other solutions. These include the likes of digital currency merchant solutions as well as blockchain consultation.
One of the most important requirements for regular cryptocurrency users is the fees that are charged by the exchange. These include fees that are charged when sending / withdrawing currency as well as the fees that one could be charged for merely buying and selling.
When it comes to exchange transaction fees, Bitbuy operates a simple flat scheme. They have two different rates for sell and buy orders on 'Express Trade'. When you are using this type of trade you will be charged 0.5%. According to feedback from BitBuy this fee will be reduced to 0.2% once they launch with their new user interface in the coming weeks.
These fees are currently slightly above average but they are made up for the lower fees that you will pay on withdrawals / deposits.
If you are trading on the "Pro Platform" (explained below) 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%.
Simple Explanation 👨🏫: Makers are those who provide liquidity on the books by placing limit orders. Takers remove that liquidity by placing market orders
Deposit Fees
If you were to fund your account in Cryptocurrencies, then you would not pay any incoming fees. However, if you were to send CAD to Bitbuy then you could incur the fees below:
So from the above it seems as if the most affordable method for you to fund your account is with a good old wire transfer. You are likely to get them on the exchange in about the same time as a standard Interac funding will take.
While you can opt for the express Interac transfer, we are of the view that it not really worth the fees that are charged. It merely requires you to carefully plan your deposits such that you are getting the most bang for your buck.
Withdrawal Fees
When it comes to withdrawal of cryptocurrencies, Bitbuy says that these are free. This is true but only on the exchange side. They are still likely to apply a network or miner fee to your transaction so you should keep that in mind.
If you were going to be withdrawing your funds in CAD then the following fees would apply.
