Bitbuy Review

Bitbuy is one of Canada's longest-running cryptocurrency exchanges. Based in Toronto and operating under the Bitbuy name since 2016, it built its reputation as a regulation-first platform — and in June 2026 it formally became part of Robinhood, which completed its roughly C$250 million acquisition of Bitbuy's parent company, WonderFi.

What it is and how it works

Bitbuy is a crypto trading platform built squarely for Canadians. Today it operates as a trade name of Coinsquare Capital Markets Ltd. (CCML), a registered investment dealer overseen by CIRO — the Canadian Investment Regulatory Organization, the national body that supervises investment dealers. That structure reflects years of corporate reshuffling: WonderFi bought Bitbuy in March 2022, later acquired rival Coinsquare, and in 2024 consolidated both platforms onto CCML's dealer registration.

There are two ways to trade. Express Trade is a simple buy-and-sell interface where the quoted price includes a spread — a markup between what you pay and the underlying market price, which is how the platform earns money instead of charging a commission. Pro Trade gives access to a real order book — a live list of buy and sell orders matched against one another — with conventional percentage-based fees. Bitbuy lists roughly 60 cryptocurrencies and offers staking — locking up coins such as Ethereum or Solana to help operate their networks in exchange for rewards — on selected assets.

Regulation and security

Regulation is Bitbuy's strongest card. In December 2021 it became the first crypto trading platform in Canada to be registered as a marketplace by the Ontario Securities Commission, alongside restricted dealer status — a limited registration category created for crypto platforms. Its successor entity, CCML, went further, becoming a full CIRO investment dealer and a member of the Canadian Investor Protection Fund.

On custody, the majority of client crypto is held in cold storage — wallets kept offline, out of reach of internet-based attacks — through BitGo, a regulated third-party custodian that carries insurance on assets it holds. That insurance is not a government guarantee like CDIC coverage on bank deposits.

Fees and funding

Funding in Canadian dollars is simple. Interac e-Transfer deposits are free, with a $10 minimum and $15,000 maximum per transaction, and wire transfers handle larger amounts, with a $10,000 minimum. Interac withdrawals are free, while bank and wire withdrawals carry a 1.5% fee.

Trading costs depend on the interface. Express Trade spreads run from about 0.5% to 1.85% under Bitbuy's published fee schedule, and can widen in volatile markets. Pro Trade charges 0.50% for both maker and taker fees — the charges for adding liquidity to the order book versus taking it away — falling with 90-day volume to 0% maker and 0.10% taker at the top tier. Staking rewards carry a commission of roughly 25-30%.

Limitations worth knowing

Bitbuy's costs sit at the high end. A 0.50% starting fee on Pro Trade is well above what large global exchanges such as Kraken charge entry-level users, and spreads approaching 1.85% are expensive for routine purchases. Staking commissions are steep, and the 1.5% bank-withdrawal fee adds up.

There is also corporate uncertainty. Bitbuy and Coinsquare still run as separate brands on one regulated entity, and Robinhood — which closed its WonderFi purchase in early June 2026 — has signaled it will use the business as its launchpad into Canada. That could mean better technology and pricing over time, or the Bitbuy brand could eventually disappear. Finally, roughly 60 coins is modest next to global venues offering hundreds.

Pros

• Full CIRO investment-dealer registration, with Canadian Investor Protection Fund membership
• Real order-book trading through Pro Trade, not just instant buys
• Free, fast Interac e-Transfer deposits and withdrawals in Canadian dollars
• Cold storage with BitGo, an insured third-party custodian

Cons

• Express Trade spreads up to about 1.85%, high for everyday purchases
• Pro Trade's 0.50% starting fee is above larger global competitors
• 1.5% fee on bank and wire withdrawals; staking commissions of 25-30%
• Brand and product direction uncertain following the Robinhood takeover

Verdict

Bitbuy delivers what it promises: a fully registered, Canadian-dollar-native exchange with genuine order-book trading and conservative custody. What it does not deliver is competitive pricing — nearly every fee, from spreads to staking commissions, is beatable elsewhere. For Canadians who put regulatory standing and local banking rails first, it is a credible choice; cost-sensitive traders will likely look at global alternatives. 3.5/5

This review is for educational purposes only and is not financial advice.

Sources

• Bitbuy — Fee Schedule
• CIRO — Coinsquare Capital Markets Ltd.
• WonderFi — Robinhood Completes Acquisition of WonderFi
• Ontario Securities Commission — Bitbuy Technologies Inc.