Is Bitbuy safe? Our 2026 review

Bitbuy is a Canadian crypto platform with two ways to trade: a simple Express Trade screen and a Pro Trade screen with an order book. It runs under a company that sits in the most tightly supervised group of crypto platforms in the country.

Bitbuy’s registration

Bitbuy’s legal and regulatory page says “Bitbuy is a trade name of CIRO-regulated Coinsquare Capital Markets Ltd.” Its security page adds that Coinsquare is a member of the Canadian Investment Regulatory Organization, is registered with the Ontario Securities Commission and the Canadian Securities Administrators as a marketplace for crypto assets, and is registered with FINTRAC as a money services business. The site footer says Bitbuy is “A WonderFi Company.”

The regulators’ register lists “Coinsquare Capital Markets Ltd., also carrying on business as Bitbuy” as an investment dealer, covering both dealer and marketplace, with its latest decision dated 11 October 2024.

On ownership, a banner on Bitbuy’s homepage says “Bitbuy is now part of Robinhood,” while its footer still reads “A WonderFi Company.” The registered company hasn’t changed. Coinsquare, a separate brand with its own app, runs under the same registration: see our Coinsquare review. Robinhood’s own Canadian crypto app runs under it too: see is Robinhood available in Canada.

Bitbuy used to have its own registration, under Bitbuy Technologies Inc. The register shows that one expired after Coinsquare bought the business, with a last decision dated 30 May 2024. It also shows the registrations of Bitvo, Coinberry and CoinSmart expired after Bitbuy bought those businesses.

Investment dealer status is the higher of the two types of registration for crypto platforms in Canada. You can compare it with the other platforms on our registered list.

How Bitbuy holds your crypto

Bitbuy’s risk statement, last updated 26 August 2026, says client crypto is held “indirectly through a third-party custodian in cold wallet storage on an ongoing basis.” It names Coinbase Custody Trust Company, LLC and BitGo Trust Company, Inc. as custodians, and lists which coins each one holds. Bitbuy may also hold some of your crypto for a short time in its own hot wallet.

Bitbuy’s homepage says your crypto is “held 1 to 1” in cold storage with licensed custodians that have a combined US$680 million in insurance. The risk statement warns that insurance may not cover every loss, or may cover a loss only in part.

Coinsquare is a CIPF member, and Bitbuy says cash in your account is covered up to $1 million by CIPF. Crypto isn’t. The risk statement says your crypto “will not qualify for CIPF protection”, and that it isn’t covered by CDIC either.

Fees

Bitbuy’s fee page, last updated 22 July 2026, sets out two ways of paying for trades:

• Express Trade: no separate trading fee. Bitbuy’s fee page says it “generates trade quotes using a spread” without saying how big. The fee schedule in its legal pages, effective 1 October 2026, gives a range: a markup of “between 50 and 385 basis points”, or 0.5% to 3.85%, depending on order size, volatility and liquidity. It doesn’t name Express Trade separately or say what a given trade costs.

• Pro Trade: 0.50% for makers and 0.50% for takers.

If you stake crypto, Bitbuy keeps a percentage of the rewards as commission. For Ethereum, that’s 25%.

Deposits and withdrawals

The same fee page lists these options for Canadian dollars:

• Interac e-Transfer deposit: no fee, from $10 to $15,000, in up to 30 minutes.
• Wire deposit: no fee, from $10,000, in 0 to 2 business days.
• Interac e-Transfer withdrawal: no fee, from $20 to $2,000, within 24 hours. You can make one every 24 hours.
• Direct bank deposit withdrawal: 1.5%, from $20 to $100,000.
• Wire withdrawal: 1.5%, from $10,000.

Sending crypto in costs nothing. Sending it out depends on the coin. Some, such as XRP and Litecoin, carry no fee, while Bitcoin, Ethereum and others carry a fee Bitbuy sets “according to current network conditions and activity.” If you send crypto to the wrong address or network, Bitbuy says a recovery service may be able to get it back, for the greater of $100 or 5% of what’s recovered.

What you can buy

Not every coin on Bitbuy can move in or out. Its fee page lists 29 trade-only coins, including Sui and Toncoin, that “cannot be deposited to or withdrawn from your Bitbuy account.” You can only buy and sell those inside Bitbuy.

Bitbuy’s relationship disclosure says Coinsquare doesn’t extend margin or lend money or crypto to clients. It also says you may face yearly investment limits, depending on your income, net worth and province.

Frequently asked questions

Is Bitbuy legit?

Yes. Bitbuy is a trade name of Coinsquare Capital Markets Ltd., which is registered with Canada’s securities regulators as an investment dealer and is a member of CIRO. It’s also registered with FINTRAC, Canada’s anti-money-laundering agency.

Is my crypto insured on Bitbuy?

Bitbuy says its custodians carry a combined US$680 million in insurance. That’s a private arrangement, not a government scheme, and Bitbuy warns it may not cover every loss. Your crypto isn’t covered by CIPF or CDIC, and its price can still fall.

How much does Bitbuy charge?

Express Trade has no separate fee, but its prices include a spread that Bitbuy’s legal fee schedule puts at 0.5% to 3.85%. Pro Trade charges 0.50% per trade. Interac deposits and withdrawals carry no fee, while bank and wire withdrawals cost 1.5%. Our comparison of registered exchanges shows how other platforms price their trades.

Sources

Checked 8 November 2026.

• Bitbuy, homepage
• Bitbuy, fee schedule, effective 1 October 2026
• Bitbuy, fees
• Bitbuy, security
• Bitbuy, legal and regulatory documents
• Bitbuy, risk statement
• Bitbuy, relationship disclosure
• New Brunswick Financial and Consumer Services Commission, registered crypto asset trading platforms