Bitbuy Crypto Exchange Review: Is It the Best Choice for Canadian Investors in 2026?
Jan, 23 2026
Bitbuy Crypto Exchange Review: Is It the Best Choice for Canadian Investors in 2026?
If you're in Canada and thinking about buying Bitcoin or Ethereum, you’ve probably heard of Bitbuy a Canadian cryptocurrency exchange registered with the Canadian Securities Administrators (CSA) since 2013. It’s not the biggest name globally, but it’s one of the few platforms built specifically for Canadians - no currency conversion, no offshore headaches, and full regulatory oversight. But is it actually good? Or are the complaints about withdrawals and fees too serious to ignore?
By early 2026, Bitbuy still stands out as one of only eight CSA-registered crypto exchanges in Canada. That’s a big deal. After Binance and Bybit left Canada in 2023, the market got tighter. For everyday users who want safety over speed, Bitbuy became a go-to. But if you’re looking for 200+ coins or rock-bottom fees, you might be disappointed.
What Makes Bitbuy Different in Canada?
Most global exchanges make you convert CAD to USD first - then buy crypto. That means extra fees, messy exchange rates, and delays. Bitbuy skips all that. You can deposit Canadian dollars directly via Interac e-Transfer, bank wire, or debit card. Withdrawals back to your Canadian bank account? Also in CAD. No hidden conversion charges.
That alone makes it a top pick for Canadians who don’t want to juggle multiple currencies. Unlike Coinbase or Kraken, Bitbuy doesn’t pretend to serve the world. It’s laser-focused on Canada. That means it follows Canadian rules - and that’s a win if you care about legal protection.
Bitbuy is owned by WonderFi Technologies Inc. (TSX: WNDR), a publicly traded company. That’s not just corporate fluff - it means they’re audited, accountable, and under financial scrutiny. Most crypto exchanges aren’t. That’s why Bitbuy’s security record stands out: Bitbuy has never been hacked since its launch in 2013, according to CoinLedger’s 2025 report. That’s rare.
Two Platforms, Two Experiences
Bitbuy doesn’t force you into one style. It gives you two interfaces:
- Express Trade - For beginners. Think of it like buying coffee. Pick a coin, enter the amount, hit buy. Done. No charts, no order books. Just simple purchases of Bitcoin, Ethereum, Litecoin, Dogecoin, and 29 others.
- Pro Trade - For people who want control. This is a full exchange with candlestick charts, limit orders, stop-losses, trailing stops, and a real order book. You can even use the REST API if you’re into automated trading.
Most users start with Express Trade. It’s clean, fast, and works great on mobile. But if you’re trying to day trade or set up complex strategies, you’ll quickly hit limits. The Pro interface lacks advanced tools like margin trading, futures, or granular chart indicators that Kraken or Binance offer. It’s functional, not powerful.
Trading Fees: Cheap or Costly?
This is where Bitbuy gets messy.
On Express Trade, you pay up to 1.5% per trade. That’s higher than some apps like Shakepay or Newton. But it’s still lower than Coinbase’s Simple interface, which can charge up to 3.99%. So if you’re comparing to global giants, Bitbuy wins.
But here’s the catch: Bitbuy charges separate fees for deposits and withdrawals. Interac e-Transfers are free to deposit. But if you want to withdraw crypto, you need at least $50 worth. And if you withdraw CAD via Interac? You get charged $1.50 per transaction - even though it’s advertised as “free.” Some users report $26 disappearing from their Interac withdrawals with no explanation.
Pro traders pay a flat 0.2% maker/taker fee. That’s standard. But when you factor in the $1.50 withdrawal fee and the mandatory 3-day holding period on deposits, the total cost adds up. One YouTube reviewer called it “one of the more expensive platforms in Canada.” They’re not wrong - if you’re trading often, those fees bite.
Security: The One Thing They Nail
Bitbuy’s security setup is among the best in Canada.
- All digital assets are insured by BitGo a leading institutional crypto custodian, with coverage up to $150 million.
- Two-factor authentication (2FA) is mandatory. No exceptions.
- Private keys are stored in cold storage across multiple cloud providers.
- They publish proof-of-solvency reports quarterly.
- Regular third-party audits are conducted.
And again - no hacks. Ever. In an industry where exchanges like Mt. Gox, FTX, and Celsius collapsed due to poor security, that’s not just impressive. It’s a rarity. If safety is your top priority, Bitbuy delivers.
Staking: High Returns, High Fees
Bitbuy lets you earn interest on nine cryptocurrencies: Ethereum (ETH), Solana (SOL), Cardano (ADA), Polkadot (DOT), Polygon (MATIC), Near (NEAR), Cosmos (ATOM), Injective (INJ), and Celestia (TIA).
APYs go as high as 11.57% on some coins. Auto-compounding? Yes. No lockup periods? Also yes. That’s better than most Canadian platforms.
But here’s the catch: Bitbuy takes up to 30% of your staking rewards, and BitGo charges another 9%. That’s 39% total. So if you earn $100 in rewards, you keep $61. That’s steep. Kraken and Coinbase take 10-15%. You’re paying nearly four times more to stake on Bitbuy.
Is it worth it? Only if you’re not trading often and want passive income without moving your coins off the platform.
User Experience: Love It or Hate It
There’s a massive split in user reviews.
On Bitbuy’s own website, users rave: “Best Bitcoin app in Canada,” “Way lower fees than Coinbase,” “Top-notch support.” These are real testimonials from Apple App Store and Google Play.
But on Trustpilot? 422 reviews as of May 2025. Average rating? Below 3 stars. People are angry. Common complaints:
- “Can’t send crypto out - you must cash out.”
- “$26 vanished from my Interac withdrawal.”
- “Took 5 days to process a $100 withdrawal.”
- “My account was deleted after I complained.”
There’s also a mandatory 3-day holding period on deposits before you can trade. That’s normal for regulated platforms, but it’s frustrating if you’re trying to act on a price dip.
Customer support is hit or miss. Some users say they got help within hours. Others say they were ghosted for weeks. There’s no live chat. Only email and ticket system. Response times vary wildly.
Who Is Bitbuy Really For?
Bitbuy isn’t for everyone. It’s not the cheapest. It doesn’t have the most coins. It’s not the fastest.
But it’s perfect for:
- Canadians who want a fully regulated, locally backed exchange.
- Beginners who want to buy Bitcoin or Ethereum without learning complex trading tools.
- People who prioritize security over low fees.
- Those who don’t need 200+ altcoins and are okay with a limited selection (33 coins total).
It’s NOT for:
- Day traders who need advanced charts and low fees.
- People who want to hold dozens of altcoins.
- Anyone who hates waiting 3 days to trade after depositing.
- Users who’ve had bad experiences with customer service in the past.
The Bottom Line: Safe, Simple, but Not Perfect
Bitbuy is the safest crypto exchange in Canada. That’s its biggest strength. It’s built for people who want to sleep well at night knowing their money is protected by Canadian law, not offshore shell companies.
But safety comes at a cost - in fees, in delays, and in limited choices. If you’re just starting out and want to buy Bitcoin and hold it long-term, Bitbuy is a solid pick. If you’re an active trader or want to explore DeFi and altcoins, you’ll outgrow it fast.
For most Canadian retail investors in 2026, Bitbuy remains one of the top two choices - alongside Coinbase Canada. The difference? Bitbuy feels like a local bank. Coinbase feels like a global giant. One is secure. The other is flexible. You pick based on what matters more: peace of mind, or freedom to trade.
Frequently Asked Questions
Is Bitbuy legal in Canada?
Yes. Bitbuy is registered as a Restricted Dealer with the Canadian Securities Administrators (CSA). It’s one of only eight licensed crypto exchanges operating legally in Canada. This means it follows strict Canadian financial regulations, including KYC, AML, and regular audits.
Can I withdraw crypto from Bitbuy?
Yes, but only after meeting the $50 minimum withdrawal threshold. You can send crypto to external wallets, but the process can take 1-3 business days. Some users report delays or issues with withdrawals being flagged for review. Always double-check the withdrawal address before confirming.
Does Bitbuy charge fees for deposits?
Depositing via Interac e-Transfer is free. Bank wire deposits have no fee either. However, credit/debit card deposits carry a 2.9% fee. Withdrawals of CAD via Interac cost $1.50 per transaction - even though they’re sometimes advertised as free.
How many cryptocurrencies does Bitbuy support?
As of January 2025, Bitbuy supports 33 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Cardano, and Solana. This is far fewer than global exchanges like Coinbase (240+), but enough for most Canadian retail investors who focus on major assets.
Is Bitbuy better than Coinbase for Canadians?
It depends. Bitbuy has lower trading fees than Coinbase’s Simple interface and no USD conversion fees. But Coinbase offers 240+ coins, faster customer support, and better mobile app performance. Bitbuy wins on regulatory safety and CAD integration. Coinbase wins on variety and speed. For beginners wanting safety, Bitbuy is better. For active traders wanting options, Coinbase is stronger.
Why do people say Bitbuy is a scam?
Some users accuse Bitbuy of being a scam because of withdrawal delays, hidden fees, and inconsistent customer service. Reports of $26 disappearing from Interac withdrawals and accounts being “deleted” after complaints have fueled these claims. However, Bitbuy is a legally registered exchange with strong security. The issue isn’t fraud - it’s poor user experience and unclear communication. Many complaints stem from misunderstanding platform rules, like the $50 minimum withdrawal or 3-day hold period.
Can I use Bitbuy on my phone?
Yes. Bitbuy has mobile apps for iOS and Android. The Express Trade interface is especially user-friendly on mobile, making it easy to buy crypto on the go. The Pro Trade app is functional but lacks the polish of apps like Kraken or Coinbase. It works, but it’s not as smooth.
Next Steps: What to Do Now
If you’re new to crypto and live in Canada, start with Bitbuy’s Express Trade. Deposit $50 via Interac. Buy $25 worth of Bitcoin. Hold it for a month. See how the app feels. Try withdrawing a small amount. Watch how long it takes. Test customer support with a simple question.
If you’re happy with the experience, slowly increase your investment. If you run into delays or confusion, consider switching to Newton or Shakepay for simpler buying - and use Bitbuy only for long-term holding.
If you’re an experienced trader, Bitbuy won’t satisfy your needs. Use it to buy your main coins (BTC, ETH), then transfer them to Kraken or Binance (if available) for advanced trading. Keep your long-term holdings on Bitbuy for security. Split your strategy - safety for storage, flexibility for trading.
Andy Simms
January 24, 2026 AT 05:43Don’t care about the fees if your money’s locked in a vault with insurance. You’re paying for peace of mind, not day trading tools.
Shamari Harrison
January 24, 2026 AT 06:49Also, their Pro interface is underrated. Not flashy, but it does what it needs to.
Nadia Silva
January 25, 2026 AT 20:24Stop comparing us to Coinbase. We don’t need your global chaos.
Roshmi Chatterjee
January 26, 2026 AT 23:16Still, the interface is clean. I’ll stick with it for now, but I’m keeping an eye on Newton too.
Deepu Verma
January 28, 2026 AT 10:47Yes, the staking fees are brutal. But if you’re not actively trading, just holding and earning, it’s still better than leaving it in a bank earning 0.5%. Pick your battles.
Abdulahi Oluwasegun Fagbayi
January 29, 2026 AT 12:43Also, no hacks. Ever. In crypto? That’s not a feature. That’s a miracle.
Anna Topping
January 30, 2026 AT 08:49It’s not a scam. It’s a cage. And some of us just want the door open.
Matthew Kelly
January 30, 2026 AT 09:44Wrote in about a $26 mystery deduction from an Interac withdrawal. Got a template reply 11 days later saying ‘please review our fee schedule.’
Woke up one day and my account was frozen. No warning. No email. Just ‘your activity triggered a review.’
Now I use Shakepay to buy, Bitbuy to hold. It’s the only way.
Barbara Rousseau-Osborn
January 30, 2026 AT 12:25And the ‘no hacks’ thing? That’s because they have 0% volume. Nobody wants to attack a platform where the biggest trade is $50 of Dogecoin.
Wake up. This isn’t innovation. It’s a cozy prison.
Arnaud Landry
January 31, 2026 AT 09:13Bitbuy? I don’t trust it. But I don’t fear it. It’s not evil. It’s just… bureaucratic. Like a Canadian post office that’s trying to be a bank.
And yes, I know the $26 withdrawal thing happened to me too. I called them. They said ‘system error.’ Never got it back. I wrote it off as the cost of being Canadian.
george haris
January 31, 2026 AT 22:24And the fact they’re audited? That’s more than I can say for 90% of the apps I’ve tried. Just accept the 3-day hold. It’s the price of playing by the rules.
Mark Estareja
February 1, 2026 AT 14:04And the ‘no hacks’ claim? That’s marketing. It’s not proof of security - it’s proof of low volume. No one wants to attack a platform with $20M in assets.
steven sun
February 3, 2026 AT 05:56but hey, at least your coins aint gone.