Both CoinSmart and Bitbuy stand among the best crypto exchanges in Canada that offer basic and advanced web interfaces and mobile crypto trading apps to cater to both newbies and pro traders.
Both are FINTRAC-registered money service businesses in Canada. They allow Canadians to trade several cryptocurrencies with a simple, transparent, flat-fee structure.
In this CoinSmart vs. Bitbuy comparison, I discuss their top features, supported cryptocurrencies, trading fees, pros and cons, and more.
Bitbuy Overview
Bitbuy is one of the best crypto exchanges in Canada. It allows Canadians to buy about 40 cryptocurrencies easily and quickly, with transparent and competitive trading fees.
The Toronto-based exchange was launched in 2016 and offers basic and advanced trading interfaces for both beginners and experienced traders.
Bitbuy Crypto Exchange
Get a $50 bonus if your initial deposit exceeds $250
Trade approx. 40 coins
Great for new & advanced traders
0% to 2% trading fee
Bitbuy Top Features
- Supports multiple cryptocurrencies
- Supports crypto staking
- Instant account verification and faster deposits via Interac e-Transfer
- Bitbuy Express, where beginners can trade with a single click
- Bitbuy Pro with advanced charting tools and order types for seasoned traders
- Up to 1.50% trading fee; crypto withdrawal fees vary; free deposits
- Over-The-Counter desk to execute high-volume trades
- Bitbuy app for iOS and Android to trade on the go
- A FINTRAC-registered MSB that’s approved by the Ontario Securities Commission (OSC)
- Top security with 2FA and 99% cold storage of digital assets
Bitbuy Pros & Cons
Pros: The Bitbuy platform offers an easy-to-use basic and advanced interface and is great for beginners and experienced traders. It also offers instant account verification and a simple, transparent fee structure.
Cons: The downside is that Bitbuy is only available in Canada.
Is Bitbuy Safe?
Yes, Bitbuy is a safe and legitimate crypto exchange. It’s a FINTRAC-registered MSB approved by the OSC as the first crypto marketplace in Canada.
Bitbuy login uses 2FA, and 99% of digital assets are held offline in cold storage.
What is CoinSmart
CoinSmart is one of the best crypto exchanges in Canada that allows crypto investors in Canada and beyond to trade 16+ cryptocurrencies. It is now a part of Bitbuy.
The Toronto-based exchange, founded in 2018, is reputed for instant account verification, its same-day deposit guarantee, and its simple, transparent fee structure.
CoinSmart offers a basic interface where beginners can buy crypto with a single click and advanced crypto trading tools and OTC services to cater to experienced, high-volume traders.
It only takes a few minutes to create a CoinSmart account and get verified, with faster funding options so that you can start trading immediately.
CoinSmart Crypto Exchange (now Bitbuy)
Top crypto exchange in Canada (now Bitbuy)
Great for new & advanced traders
Competitive trading fees
Get a $50 bonus when you deposit $250
CoinSmart Top Features
- Supports several cryptocurrencies
- Instant account verification and faster funding methods
- Multiple ways to fund your CoinSmart wallet and buy crypto, including Interac e-Transfer, wire transfers, debit/credit cards, E-Transfer, SEPA, and crypto deposits
- Same-day deposit guarantee on all transfer methods
- OTC crypto services to fill high-volume trades via CoinSmart Premium
- CoinSmart app to trade and monitor your wallet on the go
- Top security with 2FA and 95% cold storage of digital assets
- Basic and advanced trading interfaces and tools to accommodate all traders
- 24/7 customer service via live chat, phone, and email
CoinSmart Pros & Cons
Pros: CoinSmart offers instant account verification, faster funding methods, and a simple, transparent, and competitive flat fee structure.
Cons: Credit card purchases incur a fee of up to 6%, and fiat withdrawals may take up to 5 business days. You may also incur deposit/withdrawal fees of 1%-1.5% based on the transfer method.
Is CoinSmart Safe?
Yes, CoinSmart is a safe and legit crypto exchange and a FINTRAC-registered Money Service Business based in Toronto.
CoinSmart login uses 2FA, and your coins are held offline with Bitgo and Fireblocks, top custodians of digital assets.
CoinSmart vs Bitbuy: Supported Cryptocurrencies
CoinSmart supports 16 cryptocurrencies. Below is the CoinSmart crypto list:
- Bitcoin
- Ethereum
- Litecoin
- Bitcoin Cash
- Stellar
- EOS
- USD Coin
- Cardano
- Dogecoin
- Polkadot
- Shiba Inu
- Chainlink
- Uniswap
- Solana
- Polygon
- Avalanche
Bitbuy supports ~ 40 cryptocurrencies, including:
CoinSmart vs Bitbuy: Trading Fees
Both CoinSmart and Bitbuy offer simple, transparent fee structures.
CoinSmart fees stand at 0.2%. You’ll also incur CoinSmart deposit/withdrawal fees of 0%-1.5% based on the transfer method used and the amount.
Bitbuy trading fees are up to 1.5%, depending on your trading volume.
Crypto deposits are free on both platforms, but you’ll incur crypto withdrawal fees that vary by coin.
CoinSmart vs Bitbuy: Best For
CoinSmart and Bitbuy offer basic and advanced crypto trading features and work well for both beginners and pros.
CoinSmart is available in about 15 countries, making it a great choice for crypto investors in Canada and beyond.
Bitbuy is only available in Canada.
CoinSmart vs Bitbuy: Table Breakdown
| Feature | CoinSmart | Bitbuy |
| Supported coin/fiat | 16 coins (now part of Bitbuy) | 40 coins; Only CAD as fiat |
| Funding methods | Interac e-Transfer, Bank Wire, credit/debit cards, E-Transfer, crypto deposits | Interac e-Transfer, Bank Wire, crypto deposits. |
| Trading fees | 0.2% | Up to 1.5% |
| Deposit/withdrawal fees | 0%-1.5% | Variable |
| Instant account verification | Yes | Yes |
| Availability | Canada and beyond | Only in Canada |
| Trading platforms and tools | Basic and advanced Web and mobile crypto trading apps | Basic and advanced web and mobile crypto trading apps |
| Sign up bonus | Bitbuy $50 bonus with $250 initial deposit |
Related:
- Shakepay Vs Binance
- How To Buy Monero (XMR)
- Coinbase Alternatives In Canada
- CoinSmart vs Wealthsimple Crypto
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.
