Bitbuy Review: Is This Canadian Crypto Exchange Safe and Worth It?

When you're new to crypto in Canada, Bitbuy, a regulated cryptocurrency exchange based in Toronto that lets Canadians buy and sell digital assets with CAD. Also known as Canada's most trusted crypto platform, it's one of the few exchanges that works directly with Canadian banks and follows FINTRAC rules. That means you can deposit Canadian dollars via Interac e-Transfer or bank wire, trade Bitcoin, Ethereum, and other coins, and withdraw cash back—no offshore hassle.

But Bitbuy isn't perfect. Unlike global giants like Binance or Coinbase, it doesn't offer advanced trading tools like futures, margin, or staking. Its interface is clean and simple, which is great for beginners, but feels limiting if you're used to deeper charts or automated orders. The fee structure is straightforward: 0.2% to 0.5% per trade, with no hidden charges—but you pay higher spreads on small orders. If you're buying $100 of Bitcoin, you're not just paying the fee—you're paying extra because the price you see isn't the real market price. That's the trade-off for simplicity and regulation.

Security is where Bitbuy shines. It stores 95% of user funds in cold wallets, uses two-factor authentication by default, and has never been hacked. It also holds a Canadian MSB license, meaning it reports transactions and verifies identities. That’s rare for crypto platforms, and it’s why many Canadians trust it for long-term holdings. But don’t expect 24/7 live chat. Support responses can take 24–48 hours, and the help center is basic. If you’re stuck with a deposit delay or a failed withdrawal, patience is required.

There’s also the issue of limited coin selection. Bitbuy offers around 20 coins—enough for mainstream assets like Bitcoin, Ethereum, Dogecoin, and Solana—but nothing obscure. You won’t find niche DeFi tokens or meme coins here. That’s intentional. Bitbuy avoids risky projects to stay compliant. So if you’re chasing the next big airdrop or a low-cap gem, this isn’t the place. But if you want a safe, legal, and easy way to buy crypto with CAD and hold it without drama, it’s one of the best options in Canada.

People use Bitbuy for different reasons: some to get started, others to cash out after a price surge, or just to avoid the chaos of unregulated exchanges. What you’ll find in the posts below are real user experiences—some praising its simplicity, others frustrated by slow support or lack of features. There are comparisons with other Canadian platforms like Newton and Coinsquare. You’ll see how fees stack up, what happens when you try to withdraw large amounts, and whether the platform still holds up in 2025. No fluff. No marketing. Just what people actually ran into when they used it.