Bitbuy Login
In the world of leading cryptocurrencies in the financial sector, more and more crypto traders and investors are continuously showing interest in crypto trading for generating a passive income.
Last updated
In the world of leading cryptocurrencies in the financial sector, more and more crypto traders and investors are continuously showing interest in crypto trading for generating a passive income.
Last updated
As mentioned earlier, Bitbuy is one of the safest exchanges in Canada. In the past seven years, this exchange has no history of getting hacked or being involved in any malpractices. Undergoing regular audits and being a recognized MSB (Money Service Business) by a federal agency like FINTRAC explains the credibility and reliability of this crypto exchange.
Below are some of the notable measures followed by Bitbuy Canada to offer utmost safety and security for their client funds.
Two-Factor Authentication – 2 FA is mandatory to perform any transaction or even log in to their account on the exchange.
Cold Storage Functionality – This is mandatory for any exchange which claims to be genuine and secure. Cold storage is the process of storing the funds in an offline wallet which is nowhere connected to the internet. Bitbuy claims that 95% of its client funds are stored in a cold wallet and is separated from the core network. Therefore, it is impossible for anyone to steal the funds from Bitbuy network.
KYC Verification – All the users registered on Bitbuy go through a verification process known as “KYC”, which usually is processed automatically and is mandatory in order to protect potential users that are being scammed.
Security Audits – Bitbuy regularly partners with the blockchain cybersecurity agencies such as Cipherblade or BIG (Blockchain Intelligence Group) to perform various audits including ‘proof of reserves.’
Proof of Solvency – The various security audits concluded that this exchange had passed the audits in all the categories including crypto to fiat solvency at a 1:1 ratio. This explains the transparency in the accounting of assets that are traded on this exchange.
Other critical security measures undertaken by Bitbuy includes the daily encryption activities and taking multiple backups. Also, every transaction that takes place on the exchange is passed through SSL for additional security.
Users of Bitbuy can choose from two different trading types which are Express and Pro.
‘Express Trade’ is for beginners whereas ‘Pro Trade‘ is for more advanced crypto traders. Anyone with a Bitbuy account gets to access both Express and Pro trading options. For Express trade option users, everything has been made really simple on the platform. The users of this option might be more beginner traders who are looking to buy crypto in just a few seconds.
The process is also seamless as all the user needs to do is to select the crypto asset, choose the quantity and click on buy or sell. Also, transactions are quick, but the fees can be slightly higher when compared to the Pro Trade option.
On the other end, Pro trade is for professional crypto traders who tend to analyze the market before buying or selling a crypto asset. For this purpose, this exchange has partnered with TradingView to offer industry-grade charting tools for technical analysts.
Pro-trade users also get to access advanced order types, and the interface would look like any other crypto exchange like Coinbase or Binance with order books, trade history windows etc. Also, the fee charged here is cheaper compared to the Express trading option. To have a look at the Bitbuy Pro demo page, click here.
