Bitbuy Crypto Exchange Review: Is It the Best Choice for Canadian Investors in 2026?

Bitbuy Crypto Exchange Review: Is It the Best Choice for Canadian Investors in 2026?

If you're in Canada and want to buy Bitcoin or Ethereum without jumping through hoops, Bitbuy is one of the first names that comes up. But is it really the best option? With Binance and Bybit gone from the Canadian market since 2023, Bitbuy stepped into a space left wide open - and it’s still here in 2026, registered with the Canadian Securities Administrators (CSA) as a Restricted Dealer. That’s rare. Most exchanges operating in Canada aren’t. So what does that actually mean for you? And is Bitbuy worth your time, or are you just paying extra for safety?

Let’s cut through the noise. This isn’t a marketing page. This is what you’ll actually experience using Bitbuy - the good, the frustrating, and the things no one tells you until you’re stuck waiting for your money to move.

What Makes Bitbuy Different in Canada?

Bitbuy isn’t trying to be Coinbase or Kraken. It doesn’t offer 200+ coins. It doesn’t have advanced derivatives or margin trading. Instead, it does one thing really well: it lets Canadians buy and sell crypto using Canadian dollars - no currency conversion, no hidden fees, no guessing how much you’ll lose to exchange rates.

Since 2013, Bitbuy has operated under Canadian financial regulations. That’s longer than most exchanges have been around. After being bought by WonderFi Technologies Inc. in 2022, it got better infrastructure, stronger security, and access to deeper liquidity. But the core idea stayed the same: make crypto simple and legal for everyday Canadians.

That’s why it’s one of only eight CSA-registered exchanges in the country. The others? Coinbase, Kraken, Crypto.com, Wealthsimple, NDAX, Newton, and VirgoCX. Bitbuy’s registration isn’t just a badge - it means they’re audited, monitored, and held to real financial standards. Most exchanges you’ve heard of outside Canada? They’re not. That matters if you care about your money being safe, not just locked up in a digital wallet with no backup plan.

Two Platforms. One Goal: Simplicity for Beginners, Power for Pros

Bitbuy doesn’t force you to learn trading jargon on day one. It gives you two separate platforms, and you pick which one fits your style.

Express Trade is for people who just want to buy Bitcoin or Ethereum and call it a day. You pick the coin, enter the amount in CAD, hit buy, and done. No charts, no order books, no confusing buttons. It’s like using a digital vending machine for crypto. Perfect for first-timers, parents buying for kids, or anyone who doesn’t want to spend an hour learning how to place a limit order.

Pro Trade is where things get real. This is a full exchange interface with candlestick charts, order books, stop-losses, trailing stops, and limit orders. It’s what serious traders use. The matching engine is fast, and it’s built to handle real-time trading without lag. You can even connect via REST API if you’re coding your own bot - though the documentation is thin, and you’ll need to figure out a lot on your own.

Most users start with Express and upgrade to Pro after a few months. That’s by design. Bitbuy knows most people don’t need advanced tools - and if they do, they’ll find them when they’re ready.

Security: It’s Never Been Hacked. Here’s Why.

In crypto, getting hacked isn’t a question of if - it’s a question of when. Bitbuy is one of the few exchanges that can say: it’s never been hacked since 2013.

How? Three big reasons:

• Multi-cloud server setup - Their infrastructure is spread across multiple top-tier cloud providers, so a single outage or breach won’t take them down.
• BitGo insurance - All digital assets are covered under a $100M+ insurance policy through BitGo, a trusted custodian used by institutional investors.
• Proof-of-solvency - They regularly publish audits showing they hold enough crypto to cover all user balances. No shady reserve games here.

On top of that, two-factor authentication (2FA) is mandatory. No way around it. And your personal data? Processed through third-party identity verification services, so Bitbuy doesn’t even store your ID documents. That’s rare.

Compare that to exchanges that boast big user numbers but have had multiple breaches. Bitbuy’s track record isn’t luck. It’s discipline.

Fees: Cheaper Than Coinbase, But Still Not Cheap

Here’s where people get mad. Bitbuy’s fees aren’t the lowest in Canada - but they’re not the highest either.

On Express Trade, you pay a spread of around 1.5% to 2.5% per trade. That’s built into the price you see. It’s not a separate fee - it’s just how the platform makes money. That’s higher than Kraken’s 0.5% spot fee, but way better than Coinbase’s 3.99% simple buy/sell fee.

On Pro Trade, you pay 0.2% maker and 0.3% taker fees. That’s standard for most exchanges. If you trade frequently, you can reduce it further by using their loyalty program, which lowers fees based on your trading volume over 30 days.

Deposits via Interac e-Transfer are free. Withdrawals to your bank account? Also free - but only if you’re pulling out $50 or more. Anything less? You’re charged a $5 fee. That’s a trap. Many users don’t realize this until they try to cash out $30 and get hit with a charge.

Staking? Bitbuy offers up to 11.57% APY on nine coins like ETH, SOL, and ADA. Auto-compounding. No lockups. Sounds great, right? But here’s the catch: they take 30% of your rewards, and BitGo takes another 9%. So you’re paying 39% in total fees just to earn interest. That’s brutal. If you’re staking $1,000 and earning $100 a year, you’re giving away $39 of it. You could earn more on Kraken or Coinbase with lower fees.

Coins Available: Limited, But Focused

Bitbuy supports 33 cryptocurrencies as of early 2026. That’s not a lot. Coinbase offers over 240. Kraken has more than 200. But Bitbuy doesn’t need to list every meme coin.

They focus on what matters: Bitcoin, Ethereum, Litecoin, Dogecoin, Cardano, Polkadot, Solana, Chainlink, Uniswap, and a few others. All the major ones you’d actually use. No Shiba Inu clones. No random tokens with no market cap. If you’re a Canadian who wants to hold the top 10 coins, Bitbuy covers you.

But if you’re chasing the next 100x altcoin, you’ll be frustrated. You can’t trade Avalanche, Polygon, or Arbitrum on Bitbuy. Not yet. That’s a real limitation for advanced traders.

Real User Problems: Withdrawals, Delays, and Support

Here’s the dark side you won’t find on Bitbuy’s website.

On Trustpilot, there are hundreds of angry reviews. One user wrote: “Put your money in. Can’t send crypto. You must cash out. They take profit. No compromise. Avoid.” Another said their $26 Interac withdrawal disappeared - even though Interac transfers are supposed to be free and instant.

Why? Three big complaints keep popping up:

• 3-day holding period - After you deposit CAD via Interac, you have to wait 3 business days before you can trade. No exceptions. Even if the money hits your account, it’s locked. This is for compliance, but it’s still annoying.
• $50 minimum withdrawal - You can’t cash out less than $50. If you only want to take out $40? Pay $5 fee. Or leave it there.
• Inconsistent customer support - Some users say their support team is “top notch.” Others say they were ignored for weeks. One person claimed their account was “deleted” after filing a complaint. That’s scary.

Bitbuy’s own review page is glowing. But those are curated. Real users on Reddit and Trustpilot are telling a different story. The platform seems to work great - until it doesn’t. And when it breaks, help is hard to find.

Who Is Bitbuy Really For?

Bitbuy isn’t for everyone. It’s not the cheapest. It’s not the most feature-rich. But it’s perfect for three types of people:

• Beginners in Canada - If you’ve never bought crypto before, Bitbuy’s Express Trade is the easiest, safest way to start.
• People who value security over options - If you’d rather lose out on 50 coins than risk losing your life savings to a hack, Bitbuy’s compliance and insurance are worth the trade-off.
• Long-term holders - Buy, hold, stake (even with high fees), and forget about it. Bitbuy won’t make you feel like you need to trade every day.

It’s not for:

• Day traders - Kraken or NDAX are better for active trading with tighter spreads and more tools.
• Altcoin hunters - If you’re chasing new tokens, Bitbuy won’t keep up.
• People who hate delays - The 3-day hold and $50 minimum will frustrate you if you need quick access to cash.

The Bottom Line: Safe, Simple, and Slightly Expensive

Bitbuy is the most trustworthy crypto exchange in Canada. That’s not an opinion - it’s a fact backed by regulation, insurance, and a 13-year track record with zero hacks.

But trust comes at a cost. Higher fees than some competitors. Limited coins. Withdrawal delays. Inconsistent support.

If you’re a Canadian who wants to buy Bitcoin and sleep well at night, Bitbuy is the best choice you’ve got. It’s not flashy. It’s not cheap. But it’s solid. And in crypto, that’s more valuable than you think.

For everyone else - the traders, the speculators, the altcoin addicts - look elsewhere. Bitbuy isn’t built for you. And that’s okay. Not every platform needs to be everything to everyone. Sometimes, being good at one thing is enough.

What to Do Next

If you’re new to crypto and live in Canada, start with Bitbuy’s Express Trade. Buy $50 worth of Bitcoin. See how the interface works. Wait three days for your deposit to clear. Then try sending it to your own wallet. See how fast it goes. Test the support if you have a question.

If you’re already using another exchange, compare your fees. Are you paying 3% on every trade? Bitbuy’s Express Trade might save you money. Are you staking on a platform with 15% fees? Bitbuy’s 39% is worse - look elsewhere.

Bitbuy won’t make you rich. But it might keep you safe. And in crypto, that’s half the battle.