Bitbuy Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Most popular cryptocurrencies, no fiats for trading, high security, low entry threshold, optimal commissions, a referral program with a one-time bonus
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- TradingView
- Most popular cryptocurrencies, no fiats for trading, high security, low entry threshold, optimal commissions, a referral program with a one-time bonus
Our Evaluation of Bitbuy
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bitbuy is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.33 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitbuy clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
The Bitbuy cryptocurrency exchange offers a simple and functional TradingView in-browser terminal for trading crypto-crypto pairs. Clients of the exchange can make deposits in fiat, but they cannot be traded. The popularity of the platform is due to a wide selection of trading instruments, large trading volumes, and low fees. This is beneficial for both professionals and beginners, who also note the nonexistence of a minimum deposit, the intuitiveness of the interface, and the quality of the support service as advantages. Traders also highly appreciate the stability and safety of the platform and the referral program with significant bonuses ($20 per referral).
Brief Look at Bitbuy
Bitbuy, a Canadian cryptocurrency exchange, is widely recognized for its favorable trading conditions. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), BitcoinCash, EOS, AAVE, LINK, other cryptocurrencies, and tokenized coins are traded on the platform. There are no pairs with fiat funds. Two services are presented which are a quick exchange of crypto-to-crypto and a more robust exchange for advanced traders. There is a separate service for OTC and institutional trading. The platform has low fixed commissions such as 0.1%/0.2% for maker/taker. There is no minimum deposit. Deposits are possible in cryptocurrency and US dollars. The referral program is single-level with one-time payments; there is also an affiliate program for active bloggers. The crypto exchange does not offer investment solutions.
- most popular cryptocurrencies and coins are presented;
- high speed of exchange and trading operations;
- 95% of customer funds are kept cold;
- two-factor authentication and deep encryption;
- the company is registered with MSB FINTRAC;
- high-quality technical support;
- a TradingView in-browser terminal;
- a convenient mobile application;
- no minimum deposit for cryptocurrencies;
- no demo account;
- significant withdrawal limits
- fiats are not represented here;
- there are no investment solutions.
TU Expert Advice
Financial expert and analyst at Traders Union
First, Bitbuy developed software but then took a different direction. A specialized IT background has allowed it to create a cryptocurrency exchange with the highest level of protection, as evidenced by numerous tests. The Traders Union experts have not identified any technical vulnerabilities and the platform has never been hacked.
The company is headquartered in Toronto. It is validly registered with FINTRAC, the government register of financial services businesses. The crypto exchange operates transparently and within its regulations. There was no evidence of fraud, default on obligations, or unresolved conflicts. The technical support of the exchange is rated as one of the best in the segment.
The main features of the platform are low fixed commissions, a referral program with solid one-time bonuses, and an affiliate program for socially active clients. There are no options for exclusively passive earnings, and the exchange does not offer staking and other investment solutions typical for the segment. There are also no demo accounts or tutorials.
Due to the lack of a minimum deposit when depositing in cryptocurrency and fixed commissions, the Bitbuy exchange can be recommended for beginners. Experienced players are attracted by the availability of major cryptocurrencies and coins, large trading volumes, and competitive speed. The universal advantages are a high level of security, a typical trading terminal, no limits on cryptocurrency assets, and transparency. The only category of clients that the exchange will not suit is investors.
Bitbuy Summary
| 💻 Trading platform: | TradingView in browser |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank transfers, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | USD1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | Most popular cryptocurrencies, no fiats for trading, high security, low entry threshold, optimal commissions, a referral program with a one-time bonus |
| 🎁 Contests and bonuses: | No data |
The Bitbuy crypto exchange has simple registration and typical verification. The 2FA two-factor authentication protects users’ data and prevents access to the exchange by scammers and fakes. After verification, the client only needs to make a deposit and start trading. A minimum deposit has not been set for cryptocurrencies because the client independently determines his financial policy. He also does not have leverage because the exchange does not provide funds on credit. Therefore, a trader can only rely on his own assets. For any questions, customers can contact technical support through the ticket system on the website or by email. The company's Toronto office is open to the public. The table below shows the main trading conditions of the exchange.
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Commissions and fees
The exchange charges a fee for fiat deposits. The minimum top-up amount using fiats is $50 for wire transfers and $20,000 for bank transfers. Commissions of 1.5% and 0.5%, respectively. There are also limits and commissions for withdrawals. Bank transfers take 2-3 days, but electronic replenishments are instant.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | Up to 0.2% per order | Yes |
If the client deposits cryptocurrency or coins, there are no limits for such operations. There are also no deposit fees. The fees for withdrawing cryptocurrencies depend on the asset, and there are withdrawal limits. For example, a client cannot withdraw less than ₿0.001 from the platform, the commission will be ₿0.00025, regardless of the withdrawal amount. In general, the platform's commissions are lower than those of its competitors. For comparison, the table shows data for several exchanges.
| Broker | Average commission | Level |
|---|---|---|
|
$0.2 | |
|
$20 | |
|
$0.1 |
Investment Options
The Bitbuy crypto exchange does not offer passive income investment solutions. The company's clients have the opportunity to earn mainly by active crypto trading. An additional source of income can be its referral program. The individual affiliate program also provides economic bonuses and is targeted at well-known bloggers.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Bitbuy’s affiliate program:
Please note that the exchange distinguishes between the terms "affiliate program" and "referral program". The affiliate program is not designed to personally invite other users to the platform. It gives special trading conditions and bonuses to those clients who have popular blogs on social platforms and are ready to promote the exchange. There is a list of requirements for participation in this program, for each application the decision is made individually.
The referral program has no restrictions on participation. To earn from referrals, you only need to register and verify on the platform. Each client in the personal account has a personal referral code that can be placed on any network resources without restrictions. Each user who registers on the exchange using this code becomes a referral to its owner.
As soon as the referral deposits at least $250, they will automatically receive a one-time bonus of $20. Also, the owner of the code, the referral is registered by, will receive $20. In the future, the referral retains its status, but no longer brings any income to the client who invited him. The number of referrals is not limited. For referrals of the second and subsequent levels, the client does not receive bonuses.
User Satisfaction