Crypto.com is an exchange based in Singapore that offers 250+ cryptocurrencies and Crypto Visa cards for people who want to spend their digital currencies in-store. They also provide staking services and have an NFT marketplace where users can buy/sell NFTs. But compared to Bitbuy (a Canadian crypto exchange) its trading fees are high, and its customer support is poor. Crypto.com also has bad reviews on Trustpilot, with users saying they couldn't withdraw their digital assets, and that the mobile app is hard to use.
On the flip side, Bitbuy is a highly-rated Canadian crypto exchange that offers a transparent fee structure with low trading fees, great 24/7 customer support and trading tools for both beginners and experienced traders. This is why I recommend Bitbuy over Crypto.com for all Canadian traders.
Bitbuy Vs. Crypto.com: Which Crypto Exchange Is Better?
Bitbuy is a Canada-based crypto exchange platform that offers 25 cryptocurrencies but is also known for its transparency and great customer service. It offers two trading methods—Express Trade and Pro Trade. With Express Trade, you can quickly buy/sell cryptocurrencies with the click of a button; with Pro Trade, you can access advanced trading tools.
Bitbuy is a Canadian-made crypto exchange, so it's designed specifically for the Canadian financial market and is regulated under FINTRAC as a Money Service Business. OSC (Ontario Securities Commission) and CSA (Canadian Securities Administrators) have also approved Bitbuy and allowed it to operate in every province of Canada.
On Crypto.com, you'll get 250+ digital currencies and various staking options. Like Bitbuy, it offers free deposits and allows you to make payments using multiple international payment methods, including Interac e-Transfer and wire transfer. But, its user interface has many bugs, and many users have reported withdrawal issues. They might look impressive, but their customer support is sub-par, and it can take weeks to solve minor problems. Their mobile app is not beginner-friendly and is hard to navigate, which can be annoying. These are a few reasons why I recommend Bitbuy over Crypto.com to all Canadian crypto traders, both new and experienced ones.
Alternatively, you can also look at VirgoCX or CoinSmart, which are two of Canada's best crypto exchanges both for their high security, their low fees and excellent functionality.
Crypto.com Vs. Bitbuy: Pros And Cons
Pros Of Bitbuy
- Low trading fees
- Free deposits
- Express Trade and Pro Trade modes
- Advanced trading tools
- Offers an Over the Counter desk (OTC)
- Excellent customer support
- Beginner-friendly interface
- Approved by the OSC and the CSA and regulated under FINTRAC
- Offers a referral program
Pros Of Crypto.com
- 250+ cryptocurrencies
- Crypto staking
- Crypto visa card
- NFT marketplace
- Send crypto for free to other Crypto.com accounts
- 2FA and KYC
Cons Of Bitbuy
- $50 minimum deposit
- Fewer cryptocurrencies available
- Deposits can take a few minutes
- Supports only CAD
- 1.5% withdrawal fee
Cons Of Crypto.com
- Poor customer support
- Hard-to-use interface
- The mobile app has too many glitches and bugs
- Lack of educational articles
- Users report withdrawal issues
- Low staking APY
- High trading fees
Bitbuy Vs. Crypto.com: Pricing
In Canada, Bitbuy has the lowest trading fees out of all the crypto exchanges. It only charges a trading commission of 0%-1.50%, while Crypto.com has 0.4% maker and taker fees. Bitbuy is highly transparent about its fee structure so everyone can know how much they will pay for their services. On the other hand, Crypto.com has a complicated fee structure that can make it easy to underestimate trading costs.
To get a fee discount on Crypto.com, you must buy CRO tokens and keep them in your account. You'll be charged a trading fee depending on the amount of CRO tokens you have in your account. The worst part is that if the price of CRO tokens goes down, your investment will also go down, resulting in a considerable loss. On Bitbuy, if you want a fee discount, you only have to increase your trading amount; that's it. The more you trade on the Bitbuy platform, the less trading commission you have to pay, which is excellent for serious investors.
| Pricing | Bitbuy | Crypto.com |
| Trading Fees | 0%-1.50% (depending on your tier level) | 0.4% |
| Deposit Fee | Free | Free |
| Withdrawal Fees | 1.5% | Variable |
| Minimum Withdrawal | $50 | $500 |
| Credit/Debit Card | Yes | Yes |
| Wire Transfer | Yes | Yes |
| Interac e-Transfer | Yes | Yes |
| Supports CAD | Yes | Yes |
Depending on your trading volume, either option can be the cheaper choice. For low volumes, you'll benefit from Crypto.com's low 0.4% trading fee. But for higher trading volumes, once you reach Bitbuy's highest tier, you'll be able to trade commission-free. This is in stark contrast with other exchanges like Shakepay and Newton which are expensive no matter how much you trade.
Bitbuy Vs. Crypto.com: Detailed Breakdown
Regulatory Compliance
Both these crypto exchanges are regulated under FINTRAC and approved by OSC and CSA. Bitbuy and Crypto.com have to perform regular financial and security audits to prevent fraudulent activities and maintain regulatory status. They are allowed to operate in every province of Canada.
Security
Bitbuy and Crypto.com have regular security measures like 2FA and KYC and keep over 95% of their digital assets in cold storage. But, Bitbuy's cold storage policy has been confirmed by The Blockchain Intelligence Group in their third annual proof of reserves and due diligence report. They stated that Bitbuy keeps more digital assets in cold storage than the mandatory requirement, making it one of Canada's most secure crypto exchanges. There is no proof confirming the Crypto.com cold storage policy. However, on their platform, they have stated that they keep 100% of their customer's funds in cold storage, and only the company's funds are held in hot wallets.
Customer Support
These two crypto exchanges offer live chat and email support. However, many users of Crypto.com have mentioned that their customer service is slow. This is why it has a poor 2.1-star rating on Trustpilot with over 600 bad reviews. They also don't have any educational articles on their website, which is why users don't know how to solve minor issues.
Bitbuy, on the other hand, has exceptional customer service with a guaranteed 24-hour problem-solving rate. For minor problems, you can check out their helpful documents. But for major issues, you can get connected with their customer support team instantly, and they will troubleshoot your problems. Excellent customer support is one of the reasons why I recommend Bitbuy to both new and experienced traders.
Desktop And Mobile Interface
Bitbuy has an easy-to-use interface because of its Express Trade and Pro Trade. They have made separate trading modes for beginners and experienced traders so they don't get confused navigating the platform. On Bitbuy, everything is made easier so the users can have an exceptional trading experience. Although the desktop interface might look a bit out-of-date, the usability is fantastic.
Express Trade is explicitly made for beginners that only want to trade cryptocurrencies without getting into any modern tools. You can buy/sell digital currencies with your chosen payment method or the deposited money. For newbies with no experience in trading, Express Trade is the best trading mode to start with.
Pro Trade is geared towards serious traders who wish to access advanced trading tools to make strategies. In this trading mode, you'll get live charting where traders can see volume and order book data. You can also place advanced order types and take your trading to the next level.
If you want to experience a smooth and bug-free interface, then Bitbuy's mobile app is the way to go. Wealthsimple Crypto is also known for its user-friendly interface, but it falls short in almost every other aspect compared to Bitbuy.
Similar to the desktop platform, the mobile app also has Express Trade and Pro Trade. From making deposits to accessing live charting, you can do everything on the mobile app. The colours are a bit outdated, but the app works like a charm.
On the Crypto.com desktop platform, there are more options compared to Bitbuy. You can not only buy/sell cryptocurrencies and access live charting, but also stake digital currencies (earning interest) and apply for a crypto.com visa card. It has light and dark modes so users can easily navigate the platform. Crypto.com has an attractive interface, but it can confuse beginners as there are no separate trading modes like on the Bitbuy platform.
Like the desktop platform, the mobile app of Crypto.com is highly engaging and filled with various features. You can trade cryptocurrencies, see live prices, place limit orders, make deposits/withdrawals, and check out your crypto wallets from a single mobile app. But there is a problem, due to a single trading mode, it can be a bit confusing for beginners.
Similarities Between Crypto.com And Bitbuy
- Advanced Trading Tools: Both Bitbuy and Crypto.com have advanced trading tools like live charting, through which users can access live prices and place advanced order types.
- Cold Storage: Bitbuy claims to store more than 95% of its digital assets in cold storage, while Crypto.com has stated that it holds 100% of its users' assets in offline wallets. The Blockchain Intelligence Group has confirmed Bitbuy's cold storage policy, but there is no confirmation of the Crypto.com storage policy.
- Customer Support: These two crypto exchanges offer live chat and email support. Bitbuy also provides an online ticketing system and helpful documents to resolve issues faster.
- Crypto Wallet: You'll get your own private crypto wallet as soon as you make an account on these two crypto exchanges.
- 2FA and KYC: Standard security measures like 2FA and KYC are present in Bitbuy and Crypto.com.
- Audit: Bitbuy and Crypto.com perform regular security and financial audits to prevent cyber-attacks.
- Regulatory Compliance: These two exchanges are regulated under FINTRAC as Money Service Businesses and approved by the OSC.
- Mobile App: You'll get an engaging mobile app supporting various advanced features from both these exchanges. However, Bitbuy's mobile app is more beginner-friendly and bug-free.
- Free Deposits: You can deposit your investment on both these crypto exchanges for free.
- Various Payment Methods: Bitbuy and Crypto.com support many international payment methods, including Interac e-Transfer and wire transfers. Bitbuy also lets you buy crypto with credit cards, something many others don’t offer.
- Insurance: Bitbuy is backed 1:1 with a Knox insurance policy, while Crypto.com is insured for $360 million against damage or theft.
Differences Between Bitbuy And Crypto.com
- User Experience: Bitbuy's user interface is beginner-friendly, both desktop and mobile. Crypto.com is engaging and has light and dark modes, but it is a bit laggy and not very easy to use.
- Number of Supported Cryptocurrencies: Bitbuy offers 25+ cryptocurrencies, while you get 250+ digital currencies on Crypto.com.
- Trading Fees: Compared to Crypto.com, Bitbuy is highly affordable. You'll pay a trading commission ranging from 0% to 1.50 on Bitbuy and a 0.4% trading fee on Crypto.com, which is high.
- Staking: You can stake your cryptocurrencies on Crypto.com and earn rewards. Bitbuy doesn't provide a staking feature yet.
- Crypto Visa Card: You can order a crypto.com visa card and use your digital currencies in real life.
- Customer Service: Bitbuy's customer service is much better compared to Crypto.com.
- Helpful Documents: Crypto.com doesn't have any helpful documents. On Bitbuy, you'll get valuable FAQs and articles to resolve minor issues or learn more about cryptocurrencies.
Who Wins: Crypto Or Bitbuy?
| Features | Bitbuy | Crypto.com |
| Top Feature | Low trading fees | Crypto visa card |
| Pro | Bitbuy AP and advanced trading tools | 250+ cryptocurrencies |
| Con | Platform looks a bit “out-of-date” | 0.4% trading fees |
| Regulatory Compliance | Regulated under FINTRAC | Regulated under FINTRAC |
| Insurance | Covered with Knox insurance policy | $360 million against damage or theft |
| Best For | All categories | Beginners |
| Interac e-Transfer | Yes | Yes |
| Audit | Regularly | Regularly |
| Customer Support | Excellent | Poor |
| Usability | Easy-to-use | Complicated |
| Signup Bonus | $20 | Up to $50 worth of CRO tokens |
| Secure Servers | Yes | Not mentioned |
| Cold Storage | 95% of digital assets are held in offline wallets (confirmed by The Blockchain Intelligence Group) | 100% of digital assets are held in offline wallets (no proof) |
Why Bitbuy Is Better Than Crypto.com
Due to low trading fees, excellent customer support, and bug-free interface, I consider Bitbuy to be one of the best crypto exchanges in Canada, which is why I recommend Bitbuy to all Canadian crypto traders (beginners and experienced ones).
Both these exchanges are regulated, insured, and perform regular audits. However, users have called Crypto.com out for its poor customer service, and there is no third-party confirmation or proof that its 100%-cold-storage policy is genuine.
Why You May Still Want To Choose Crypto.com Over Bitbuy
Crypto.com provides over 250 cryptocurrencies and staking services. You can also apply for a Crypto.com visa card to use your digital currencies anywhere in the world, so if you're interested in these services, then you can choose Crypto.com over Bitbuy. But I can only recommend it to beginners due to its high trading fees and laggy interface.
In Summary
After using both these crypto exchanges, I would say that Bitbuy is a better choice for both new and experienced traders. On Bitbuy, you'll get low trading fees, high security, and exceptional customer service.
FAQs
Is Bitbuy a good platform?
Yes, Bitbuy is a good platform, as it has low trading fees, excellent customer service, and a Knox insurance policy.
Can I store crypto on bitbuy?
Yes, you can store crypto on Bitbuy, as it gives you a private crypto wallet as soon as you sign up on the platform.
