The chat option is run by an automated bot that helps find solutions based to frequently asked questions from the support page. There is a Bitbuy support page that features answers to frequently asked questions. While we receive compensation when you click links to partners, they do not influence our content. Hi Julissa, thanks for reaching out and connecting with us about this. It looks like we were very responsive in regards to your support tickets (turnaround time of less than 6 hours). It looks like this matter has been successfully completed and we thank you for your patience.
If you answer that you have zero risk tolerance and not much income, it’s possible Bitbuy will not let you open an account. After you have had your account verified you will need to complete a risk profile. If you’re interested in privacy, you won’t get it with Bitbuy. Finally, you’ll need to upload a financial document such as a bank statement and a utility bill such as an internet bill. Enter your name, date of birth and occupation, then hit next.
Bitbuy should be closed down
It is protected by two-factor authentication and runs multiple encrypted and distributed backups daily. Typically, your identity is automatically verified with the machine learning algorithm, and you can start using your account instantly. However, if your identity is not verified, you will have to submit a few documents. If their customer team doesn’t get back to you within a day, you can reach out to them on social media channels. However, in my experience, the best way to contact them is through email.
Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys – Cointelegraph
Ontario crypto exchanges impose $30K CAD annual limit on altcoin buys.
Posted: Thu, 18 Aug 2022 07:00:00 GMT [source]
I placed two reviews about Bitbuy already, and for fun I just keep coming back here to see more 1 star reviews and I’m smiling. All my friends already closed their Bitbuy accounts because of how they treated me by closing my account for no reason at all. I am surprised they are still allowed to operate this shady business here in Canada.Good luck to the remaining customers. If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada. There are several other Canadian crypto exchanges to choose from and I recommend CoinSmart as a good alternative to Bitbuy. These questions ask you about your net worth, income, and projected income for the next year.
Trading Platform
We use dedicated people and clever technology to safeguard our platform. You can view your orders, select a limit or market order when purchasing, and view all market orders from other users. Make sure to enter all of the information including the security question and answer. Next, you will see all of the information you need to make the transfer.
- Once done, enter all the required personal information and set up the two-factor authentication.
- For this service, NDAX charges customers 20% of the staking rewards.
- The best feature discussed in our Bitbuy review is its efficient fiat integration.
- The platform offers several different service levels, each catering to another segment of the crypto market.
- NDAX is another popular crypto exchange registered with FINTRAC and supporting over 30 of the most notable coins.
Nevertheless, if you’re only looking to use a secure and trusted Canadian exchange the you can’t go wrong with Bitbuy. Visit their official website for more information and claim free $20. Bitbuy has a comprehensive support page on its website where you can find answers and guides to common questions such as verification and making deposits. You can also submit a request using an online form or contact them at [email protected]. I reached out using the support email with a general question and received a personalized response instantly.
Email this Business
Bitbuy charges a withdrawal fee of 1.00% on bank or wire transfers. A wire or bank transfer is the cheapest method to fund your account and pay a lower deposit fee. This may take up to 3 business days for your amount to display in your wallet.
They target traders interested in making large transactions in some of the most popular and trusted digital currencies. It offers a high level of security, a quick verification process, and an easy-to-understand interface. The company is also registered as an MSB and is regulated by FINTRAC, making it reliable. After setting up your account, you can easily deposit money via cryptocurrencies, wire transfer, or e-transfer.
Customer Support
Bitbuy’s verifications and compliance team has a requirement to venture into the dark web to verify customers’ presence and, if necessary, business in the dark web. With Bybit you can also create and manage up to 20 subaccounts, with no additional fees. Bybit login options allow you to log in to your profile using your main account or subaccount.
Please follow the steps below to make a withdrawal from Bitbuy. For the Bitbuy withdrawal fees, please check out our Bitbuy fees section, above. It offers many of the same features as the full desktop version. WonderFi’s acquisition has provided Bitbuy with additional resources to continue building on its current products for its customers.
Bitbuy Canada Features At a Glance
Read our review below and find out how you can get a $20 sign up bonus when you trade $250 or more and use a Bitbuy referral. We also have a summary of other sign up offers you might be interested in. The first one has already been mentioned in passing, but it required some more spotlight. The spreads may not be too terrible, but when you try to withdraw your money out of Bitbuy, you can be charged heavily for seemingly no reason. Not all fees are written explicitly, so you can lose 15% of your money on average.
As a result, the order’s remainder is filled at a higher market price, which means the trade ends up costing more than anticipated. As such, it acts as a vital onramp to the crypto ecosystem regardless of which wallet is in use. Bitbuy is registered with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) as an MSB. Bitbuy in cold storage are insured by BitGo Trust Company.
“BitBuy’s Lack of Support and Slow Response Time Led to Legal Intervention”
A two-factor authentication process follows this, and you’re done. It may take up a few days to receive funds, depending upon your withdrawal method. This section of the Bitbuy review https://forex-reviews.org/bitfinex/ will discuss how to get started with this trading platform. With Bitbuy, you can get started by clicking on the Get Started option on the top-right corner of your screen.
Binance is a global cryptocurrency trading platform specifically designed for advanced traders. It acts as an excellent alternative to Bitbuy, as it offers over 65 cryptocurrencies on its platform. Binance has relatively low trading fees and is known for high-speed trade execution. This platform is one of Canada’s most secure and trusted crypto exchanges. All their servers are secured across multiple world-class cloud providers and disaster recovery locations. Bitbuy also utilizes industry-leading security standards to keep your account safe, including 2-factor authentication and a 95% cold storage policy.