Bitbuy is one of Canada's most established cryptocurrency exchanges, having launched in 2016. It has survived multiple crypto market cycles and earned a reputation as a reliable, regulated Canadian platform. In 2022, Bitbuy was acquired by WonderFi Technologies, a Canadian publicly traded crypto company. This review covers Bitbuy's fees, features, security, and who it is best suited for in 2025.
Bitbuy offers two distinct trading experiences:
Express Trade is designed for beginners. You see a simple buy/sell screen with the current price and the amount you want to trade. The fee is embedded in the spread — typically around 0.50%. This is the fastest way to buy crypto on Bitbuy but not the most cost-efficient.
Pro Trade is a full order book interface with limit orders, real-time charts, and market depth. Fees are 0.10% maker and 0.20% taker, making it significantly cheaper than Express Trade for regular traders. Pro Trade is available to all verified Bitbuy accounts.
Bitbuy's Pro Trade fees (0.10%/0.20%) are among the most competitive of any Canadian exchange. Interac e-Transfer deposits are free. Credit/debit card deposits carry a higher fee (~2.5%). CAD bank wire withdrawals are free for amounts over $100 and have a small fee below that threshold.
Bitbuy supports Bitcoin, Ethereum, and over 20 other cryptocurrencies including Litecoin, Bitcoin Cash, Ripple, Stellar, Chainlink, Polkadot, Cardano, Dogecoin, Solana, and more. While selection is not as extensive as global exchanges, it covers the most popular assets held by Canadian retail investors.
Bitbuy uses a cold storage model, storing the majority of customer funds offline in hardware security modules. Two-factor authentication (2FA) is mandatory for withdrawals. The platform has maintained a clean security record since its founding.
As a subsidiary of publicly traded WonderFi, Bitbuy benefits from institutional-grade compliance and oversight, including regular audits and transparent governance.
Bitbuy is registered with FINTRAC as a Money Services Business and operates under a pre-registration undertaking with the Ontario Securities Commission. This makes it one of the most thoroughly regulated crypto platforms available to Canadians.
Bitbuy conducts KYC verification for all accounts: government-issued ID and proof of address are required. Verification typically takes 1-2 business days.
For large trades (typically $100 CAD or more), Bitbuy offers an OTC (over-the-counter) desk that provides personalized pricing and minimizes market impact. This is useful for high-net-worth investors making significant crypto purchases.
Bitbuy provides full transaction history exports in CSV format. These can be imported into tax software like Koinly, CoinLedger, or CryptoTaxCalculator to produce CRA-compliant reports. Bitbuy also sends annual transaction summaries to help users prepare their tax returns.
Bitbuy offers email and live chat support during Canadian business hours. It also has a comprehensive help center. As one of the larger Canadian exchanges, Bitbuy generally has faster response times than smaller competitors.
Yes. Bitbuy is one of the safest Canadian crypto exchanges due to its long operating history, FINTRAC registration, OSC regulatory oversight, and cold storage security model. Being part of the publicly traded WonderFi group adds a further layer of transparency and accountability.
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