How to Buy Bitcoin on Bitbuy and Send it To Your Wallet

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How To Buy Bitcoin Bitbuy Send to Wallet

Signup to Bitbuy and verify your account.

Toronto-based Bitbuy is a registered Money Service Business (MSB) in Canada under FINTRAC since 2016.

Canada’s first 1:1 insured Bitcoin offering platform. Bitbuy is the world’s first platform to find a way to keep the full value of its bitcoin cold storage holdings insured. This is done in partnership with Montreal-based Bitcoin security firm Knox.

Bitbuy has not experienced any hacks and remains a highly safe, secure, and trusted cryptocurrency exchange.

Fund Your Bitbuy Account

You can deposit funds on the Account page or the Holdings page.

Click > Deposit CAD

Deposit Funds Bitbuy
Deposit Funds Bitbuy

Choose how you want to fund your Bitbuy account.

INTERAC e-Transfer is the fastest, lowest fee, and easiest way. You can also fund your Bitbuy account with Wire Transfer or Credit Card.

e transfer to Bitbuy

Bitbuy will show you the security question and answer to send an e-transfer to them to buy Bitcoin.

Login to your online banking platform and send an e-Transfer.

deposit funds Interac etransfer Bitbuy

Funds deposited to Bitbuy via e-transfer should be near instant in your Bitbuy account.

Trade $CAD for Crytpo on Bitbuy

Bitbuy offers an Express Trade and a Pro Trade option to buy, sell or trade crypto.

Express Trade Bitbuy
Bitbuy Pro Trade

On the Express Trade page.

Select if you want to Buy or Sell.

Choose the crypto from the dropdown menu.

Click > Use All or enter the dollar amount.

Click > Buy Bitcoin.

You can now see the balance of your Bitcoin and altcoins on the Account page or the Holding page.

Withdraw Bitcoin from Bitbuy to Your Wallet

Go to > Holdings

Click > Withdraw

Withdraw Bitcoin From Bitbuy

Wallet

Open up your wallet. Select the corresponding digital asset.

Copy > Receive address. Bitcoin in my case.

Receive Bitcoin from Shakepay

Make a mental note of the first and last 4 digits of the address to confirm you paste the correct address.

send bitcoin

Scan the QR code and send me some Bitcoin. 😉

Send Bitcoin from Bitbuy to Your Wallet

Click > Use Available Balance or enter your desired amount.

Paste > Receive the wallet address that you copied from your wallet.

coin withdraw

Click > Continue > Send.

And in a few minutes, your crypto assets should appear in your wallet.

Is Bitbuy a Wallet

No. Bitbuy is a crypto exchange. A wallet generates 12 or 24 word seed phrase. This is how you custody of your digital assets.

Leaving your cryptocurrency on exchanges is risky. It is always best to send your crypto to a wallet you control.

Wallet Seed Phrase Security Tips

  • Write on paper and store your 12-word secret phrase offline in a secured location.
  • Never share or input your secret phrase online, in your notes app, direct/private messages, or on any website.

Read the guide for beginners: How to Buy Bitcoin in Canada Tutorial →

BitBuy Summary

Bitbuy Fees

  • Interac e-Transfer Deposit: $0
  • Wire Transfer Deposit: $0
  • Interac e-Transfer Withdrawals: 1.5%
  • Wire Transfer Withdrawals: 1.5%
  • Spread: 0% – 1.5%
  • Crypto withdrawal: 0.00025 BTC (~$10)

Check Fees and Prices

Funding & Withdrawal Options

  • Interac E-Transfer
  • Wire Transfer
  • Credit Card

Cryptocurrencies: 25+

Bitbuy Pros

  • Regulated and transparent
  • Express trade
  • Pro trade

Bitbuy Cons

  • Lots of KYC questions
  • Low liquidity
  • High deposit fees
  • No stop-loss orders

Get $20 Bitbuy Sign Up Bonus →