Bitbuy is one of Canada's top crypto exchanges, and for good reason: it supports 25+ cryptocurrencies, verifies accounts instantly, and provides extra security for your coins with its 99% cold storage policy. More than 400,000 Canadians trust and use Bitbuy, and we recommend it as an excellent choice for trading crypto.
By signing up using our Bitbuy referral link (no referral code required), you'll receive a $50 signup bonus after depositing $250 into your Bitbuy account.
For a better overall trading experience with significantly lower fees, I recommend opening an account with Kraken, my #1-ranked Canadian crypto exchange. Kraken has 250,000+ satisfied users, charges very low trading fees, and is offering a $10 signup bonus (no referral code required) from now until December 22, 2024.
What Is Bitbuy?
Bitbuy is a Toronto-based cryptocurrency exchange that's been growing extremely quickly since rebranding back in 2018. Bitbuy serves more than 400,000 Canadian users, making them one of the biggest and most trusted cryptocurrency exchanges in Canada. Bitbuy is also one of my top-rated crypto exchanges in Canada, alongside other exchanges like Kraken (our #1-rated crypto exchange in Canada) and VirgoCX.
Bitbuy offers tight spreads and fast, helpful customer support. Its desktop platform and mobile app are well-rated and easy to use, making Bitbuy a great choice for both beginners and advanced traders looking to buy and sell crypto in Canada.
To learn more about Bitbuy, here’s our full Bitbuy review.
How To Use A Bitbuy Referral Code
Bitbuy's referral program is designed to reward new users for joining their platform. By signing up using our Bitbuy referral link (no Bitbuy referral code required), you'll receive a $50 signup bonus after depositing $250 or more.
Immediately upon funding your account, you'll receive your bonus and get your own referral code, which you can use to refer friends. You'll receive an additional $20 for every friend you refer, and they'll receive a $20 signup bonus, too.
To get your $50 signup bonus:
- Visit Bitbuy's website using our Bitbuy referral link. Submit your email address to start the signup process.
- Fill in your basic information including name, mailing address, and date of birth.
- Verify your identity using your passport, driver’s license or ID card. After depositing $250 or more, you'll instantly receive the $50 referral bonus.
We outline the entire signup process in greater detail in the How To Sign Up With Bitbuy section below.
Strong Security
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Trading fees: 2% (High) |
★★★★ Rated 4.2/5 |
What Coins Does Bitbuy Offer?
Bitbuy currently offers 25+ cryptocurrencies:
| Bitcoin (BTC) | EOS (EOS) | Cardano (ADA) | Decentraland (MANA) | Curve DAO (CRV) |
| Bitcoin Cash (BCH) | Aave (AAVE) | Uniswap (UNI) | USD Coin (USDC) | Basic Attention Token (BAT) |
| Ethereum (ETH) | Chainlink (LINK) | SushiSwap (SUSHI) | ApeCoin (APE) | Compound (COMP) |
| Litecoin (LTC) | Dogecoin (DOGE) | Polygon (MATIC) | Terra (LUNA) | Fantom (FTM) |
| Stellar Lumens (XLM) | Polkadot (DOT) | Solana (SOL) | Maker DAO (MKR) | Axie Infinity Shards (AXS) |
Bitbuy Fees
Bitbuy's fees used to be competitive compared to other Canadian crypto exchanges, but that's no longer the case. Today, users need to pay 1.5% in trading fees for trading with Bitbuy, which is extremely high relative to the other exchanges we recommend. If you're a frequent trader—or investing more than $1,000—Bitbuy's fees are going to eat a significant portion of the funds you invest.
With Bitbuy, all cryptocurrency deposits are free, and crypto withdrawals are subject to these fees:
| Cryptocurrency | Fee |
| Bitcoin (BTC) | 0.00025 BTC |
| Ethereum (ETH) | 0.005 ETH |
| Litecoin (LTC) | 0.02 LTC |
| Bitcoin Cash (BCH) | 0.001 BCH |
| Stella (XLM) | 0.02 XLM |
| Ripple (XRP) | 0.02 XRP |
| EOS | 0.02 EOS |
| Aave (AAVE) | 0.03 AAVE |
| Chainlink (LINK) | 0.3 LINK |
Fiat currency deposits and withdrawals incur these fees to/from your bank account:
| Fiat transaction type | Fee |
| INTERAC e-Transfer Deposit | 0% |
| INTERAC e-Transfer Withdrawal | 1.50% |
| Bank Wire Transfer Deposit | 0% |
| Bank Wire Transfer Withdrawal | 1.00% |
| Credit Card Deposit | 6.50% |
This contrasts with other crypto exchanges which don't charge deposit or withdrawal fees at all. However, this isn't necessarily a dealbreaker since most crypto exchanges that don't charge these fees make up for it by charging high trading fees or spreads, making them more expensive exchanges overall, like Newton, Shakepay, and Wealthsimple Crypto.
That said, Bitbuy's trading fees are not really that competitive, though its deposit and withdrawal fees are around average for the industry. This makes Bitbuy not a great exchange for frequent traders, though it can be fine for investors who care more about user experience than getting the lowest fees.
How To Sign Up With Bitbuy
#1 Visit Bitbuy's website using our Bitbuy referral link. Click on the signup button.
#2 Enter your basic information, including your name and date of birth. If you're prompted for a Bitbuy promo code, enter YOREOYSTER. You'll also be asked the type of account you want (select “Individual”), your occupation, and to choose a password.
Note: If you don't see the promo codes field after signing up using our link, that's because our Bitbuy promo code has been applied automatically. Don't be alarmed—you can safely continue knowing that you'll receive the bonus.
#3 Click the verification link in the email sent to your email account. From there, Bitbuy will send you a text message, which you'll need to verify as well.
Then Bitbuy will ask you to verify your identity using your passport, driver’s license or another piece of government-issued ID. You'll also need to upload a selfie with that same piece of ID, so if you're signing up on your computer, it helps to have your phone handy for this part of the process.
Note: Most Bitbuy accounts are verified instantly, but if yours isn't, you may need to wait a few days for one of their team members to verify your account. Verification times are getting longer because Bitbuy has become so popular over the past number of months, so it's a good idea to start the process now.
#4 Once your account has been verified, you can deposit money into your account. You can do this via Interac e-transfer or wire transfer, but I recommend the Interac e-transfer because it happens instantly and your bank won't charge you any fees.
Note: Make sure to deposit $250 or more in your first deposit. Multiple deposits adding up to $250 do not count, so make sure to hit $250 with your first deposit.
#5 As soon as your deposit is processed, you'll receive your $50 bonus. It will show up in your account alongside the other funds you deposited, and you can use it to buy crypto right away.
CLAIM MY $50 BONUS
Offer ends December 22, 2024.Pros & Cons Of Bitbuy
Pros of Bitbuy
- Narrow spreads on trades (around 0.3% per trade)
- Instant account verification for many Bitbuy users
- 99% cold storage policy
- Helpful, thoughtful customer support team
- Supports 25+ different cryptocurrencies
- Well-rated mobile app (4.6/5 on the App Store)
- Fiat deposits are free
- Registered as a Money Service Business with FINTRAC
- $50 signup bonus using our link
Cons of Bitbuy
- High trading fees (1.5%)
- Fiat withdrawals cost 1.5%
- Crypto withdrawals cost $1 – $20 in mining fees
- Bitbuy only accepts Canadian dollars as fiat (no USD, EUR, etc.)
In Summary
Bitbuy is one of Canada's top crypto exchanges, and for good reason: it supports 25+ cryptocurrencies, verifies accounts instantly, and provides extra security for your coins with its 99% cold storage policy. More than 400,000 Canadians trust and use Bitbuy, and we recommend it as an excellent choice for trading crypto.
By using our Bitbuy referral link (no referral code required), you'll receive a $50 signup bonus after depositing $250 into your Bitbuy account.
For a better overall trading experience with significantly lower fees, I recommend opening an account with Kraken, my #1-ranked Canadian crypto exchange. Kraken has 250,000+ satisfied users, charges very low trading fees, and is offering a $10 signup bonus (no referral code required) from now until December 22, 2024.
Bitbuy FAQs
Is Bitbuy safe?
Yes, buying and selling crypto with Bitbuy is totally safe. They hold 99% of user assets in cold storage, offer 2-factor authentication on all user accounts, and engage outside auditors to look through their financial transactions and highlight any suspicious activity.
In mid-2021, Bitbuy underwent its third annual “Proof of Reserve and Security Audit” performed by Blockchain Intelligence Group. The results revealed that Bitbuy was exceeding its cold storage mandate, had a low transactional risk score and that trading with Bitbuy is a safe endeavour overall.
Is Bitbuy legal in Canada?
Yes, Bitbuy operates legally in Canada and is registered both as a marketplace and as an investment dealer. It's also a Money Service Business registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which means Bitbuy follows all Canadian regulations.
How do I get my referral code for Bitbuy?
To get your Bitbuy referral code, follow these steps:
- Create an account: Use our special referral link for a $50 signup bonus.
- Check your account settings: Your unique referral code will be in there. Ours is YOREOYSTER, but yours will be a string of numbers and letters.
- Share your link and start earning: Send your unique link to friends, post it on social media, or put it anywhere you want. The more people who sign up with your referral link, the more you'll earn.
How does the Bitbuy referral program work?
Bitbuy's referral program works like this:
- Follow the steps above to open your account.
- Verify your email address, phone number and government-issued ID.
- Deposit $250 or more to receive a $50 signup bonus.
- Get your own referral link from the Settings of your Bitbuy account.
- Share your link with friends and online to earn $20 per signup.
