Bitbuy vs Coinberry: Features Compared
Bitbuy vs Coinberry, who wins? In this article, we compare these 2 leading crypto exchanges in Canada. We carried out extensive research on each platform considering user reviews and got first-hand experience with both exchanges.
Bitbuy vs. Coinberry: Verdict
Our pick in the Bitbuy vs Coinberry comparison is Bitbuy as the exchange caters to both beginner and advanced traders.
Bitbuy vs Coinberry: Unique Features
Unique Features of Bitbuy
The Bitbuy API is designed for Bitbuy’s trusted partners that wish to connect to Bitbuy’s 10+ markets that feature different crypto-to-crypto and CAD-to-crypto pairs. The API is suitable for cryptocurrency ATMs, institutions, developers, algorithmic traders, and other cryptocurrency-based businesses. The API grants them unlimited access to market data and cryptocurrency trading
Bitbuy Mobile App
Bitbuy cryptocurrency exchange users can buy, sell, deposit and withdraw crypto directly from their phones using the Bitbuy mobile app. The app is compatible with both iOS and Android operating systems. Bitbuy customers can access their wallets directly from the app. They can also view the prices for different digital assets directly from the app.
Bitbuy account holders are also able to track their transaction history like deposits, withdrawals, buys, and sells from the app. While users can view their profile and account information from the app, they cannot make any changes to their personal information from the app. They will need to log in to the Bitbuy web version to be able to effect any account changes.
Bitbuy Pro Trade
Bitbuy Pro Trade gives Bitbuy users access to professional tools and an advanced trading interface. This feature is designed for Bitbuy users that are experienced in trading and want to take advantage of advanced functionalities, crypto-to-crypto pairs, and low trading fees.
Bitbuy’s Pro Trade allows users to see live bids and asks as they happen, set their buying and selling prices, easily see their order status and history, and access trading view charts. Users also have access to market depth charts, break out screens and live market and trading statistics.
Unique Features of Coinberry
This is a Coinberry feature that enables Coinberry crypto exchange users to receive payments, donations, and tips in the form of cryptocurrencies from charities, merchants, individuals, and municipalities. Every Coinberry account has a unique Coinberry Pay link. Payments are made through this link. Crypto payments received via Coinberry Pay are automatically converted to Canadian dollars and transferred to the recipient’s bank account.
To receive payments, the user will need to go to the Coinberry Pay tab on his account dashboard and copy the unique link from the address. The user can then send the payment link to the payer. Once the payer access the payment link, the payer will be required to fill out a form before making the payment.
Users can also add the Coinberry Pay link to their websites. This will enable them to receive crypto payments from their customers.
This feature allows Coinberry account holders to implement a dollar-cost averaging investment strategy for their trades. This enables them to get constituent returns while building a hedge against price fluctuations.
With Autopilot, users can set automated crypto purchases daily, weekly, or monthly. All they need to do is to set an amount for a predetermined schedule and Coinberry will execute the order at the set time.
The purchase amount and frequency can be adjusted whenever the customer wishes to do so.
The major advantage of Autopilot is that it helps the customer avoid the emotional roller coaster associated with dealing with market fluctuations in the crypto world. With this feature, even beginners can trade without incurring much loss.
Bitbuy vs Coinberry: Crypto Availability
Cryptocurrencies Available on Bitbuy
Bitbuy supports 25 cryptocurrencies. This includes: BTC, ETH, USDC, ADA, DOGE, SOL, UNI, DOT, MATIC, LTC, BCH, MANA, SAND, APE, CRV, etc.
Cryptocurrencies Available on Coinberry
Coinberry users can buy, sell and trade over 35 cryptocurrencies in CAD. Cryptocurrencies available include BTC, DOGE, ETH, MKR, MANA, MATIC, LUNA, LTC, LINK, CRV, COMP, ATOM, BCH, BAT, etc.
Bitbuy vs Coinberry: Fees
Bitbuy does not charge users any fees for crypto deposits. But it charges a 1.5% withdrawal fee for Interac e-transfer and bank wire withdrawal options. For credit card transactions (buy and sell) Bitbuy allows its processor for the payment method, Simplex, to charge a standard 6.25% fee. Because Bitbuy caters to both beginners and advanced traders, it uses a tiered fee structure for each platform. Each tier’s fee is dependent on the user’s total trading volume in the last 90-day period and applies to the current month.
For the Express trade platform, which caters to beginners, Bitbuy charges 0% to 1.5% in trading fees. The Pro trade platform also charges users 0% to 1.5% trading fees for buys and sells as well.
Here’s its tiered trading fees structure for both platforms:
- Trading volume: $5m+
- Maker fee: 0%
- Taker fee: 0.10%
- Trading volume: $1m – $5m
- Maker fee: 0.15%
- Taker fee: 0.25%
- Trading volume: $250k – $1m
- Maker fee: 0.50%
- Taker fee: 0.75%
- Trading volume: < $250k
- Maker fee: 1.50%
- Taker fee: 1.50%
Coinberry does not charge fees (0%) for CAD deposits and withdrawals. However, it charges users who wish to withdraw crypto, dynamically. This is dependent on the network activity at the time. These fees are shown on the screen on the order preview page.
Coinberry charges a spread and fees from liquidity sources from trades. The combined fee is shown to users before order confirmation. This spread is between 0% to 2.5%. That said, the actual fees and spread can be higher or lower because of market fluctuations in cryptocurrency price from the time they quote the price to the time the order is executed. Also, what Coinberry discloses before order confirmation isn’t the actual fee but an estimation.
Bitbuy vs Coinberry: Payment Methods
Bitbuy Payment Methods
Bitbuy supports 4 payment methods:
- Deposit: Free
- Processing time: Near Instant
- Minimum: $50
- Maximum: $10,000 daily
- Deposit: Free
- Processing time: 3-5 business days
- Minimum: $10,000
- Maximum: Unlimited
- Deposit: Free
- Processing time:
- Network dependent
- Minimum: Not applicable
- Maximum: Unlimited
- Deposit: 6.25%
- Processing time: Instant
- Minimum: Not applicable
- Maximum: $1,000 without Simplex verification
Coinberry Payment Methods
Coinberry supports 2 payment methods: bank wire transfer and Interac e-transfer. Here’s what each payment method offers:
- Minimum: N/A
- Maximum: $10,000
- Processing Time: 6 hours
- Minimum: $10,000
- Maximum: $500,000
- Processing Time: 2-3 Business days
Bitbuy vs Coinberry: Security
Bitbuy is registered as a Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada. It is also the first Canadian registered marketplace for crypto assets and is federally approved as a Restricted Dealer. Bitbuy servers use ISO, SOC, and FIPS 140-2 compliant cloud providers. The platform uses Proof-of-Solvency. This provides transparent accounting of all exchange-traded digital assets. It also has an insurance policy provided by BitGo.
Bitbuy also has a privately maintained codebase which keeps all core components safe from prying eyes. It conducts monthly security audits and transaction reporting audits to ensure that customer funds are secure. It also conducts routine financial audits using trusted third parties. Users’ accounts are protected with two-factor authentication. Bitbuy also conducts a daily and weekly review of suspicious activities on users’ accounts.
Coinberry is registered with FINTRAC as a Money Service Business. It is also registered with the Ontario Securities Commission. It stores users crypto assets in cold storage. Coinberry’s cold storage is provided by Gemini Trust Company. Gemini Trust Company also provides biometric login features for the platform.
Users can secure their accounts by activating two-factor authentication.
Bitbuy vs Coinberry: Usability
Bitbuy offers 2 trading platforms Express and Pro. The Express trading platform is for basic and fast buy and sell orders. This is best suited for beginners who just need a platform to carry out quick trades easily. The Pro trade option offers advanced trading options such as market and limit orders, live order book, order status and history, live trading and market statistics, trading view charts, breakout screens, and market depth charts.
Coinberry like most crypto exchanges features the standard crypto exchange trading interface that allows users to buy crypto by clicking on a particular coin and executing the trade by adhering to the instructions that follow. However, the platform offers certain features like automated trades and price alerts.
Bitbuy vs Coinberry: Customer Service
Bitbuy Customer Service
Bitbuy offers 24/7/365 real human customer support via email. Customers can also submit requests via the support ticket in the support center. Bitbuy also has a support center that is well-equipped with answers and guides to different questions regarding the use of the platform.
Coinberry Customer Service
Coinberry offers customer support via email, phone, and the live support feature on the platform. It also has a help center and a learning portal where Coinberry users can learn all they need to know about using the platform and cryptocurrencies.
Conclusion: Final Verdict
The Bitbuy exchange caters to both beginners and experts and offers users a better trading experience than Coinberry. Also, while Coinberry wins in some instances like security and crypto availability, in general, Bitbuy comes on top as a better service.
After a careful comparison of both crypto exchanges, Bitbuy is the winner with a 4/5 rating.
Most frequent questions and answers
Yes, Bitbuy is the first crypto trading platform to be regulated in Canada as a marketplace. It is regulated by the Ontario Securities Commission, Canadian Securities Administrators, and FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).
Bitbuy Canadian crypto exchange hosts over 400,000 Canadian users and has been in existence since 2016. The platform is also regulated by all major relevant bodies in Canada. Plus, the platform has never been hacked and they operate a 95% cold storage policy.
Yes, Bitbuy’s wallet is available for mobile and web.
No, Coinberry only supports Interac e-transfer and wire transfer. Bank transfer, Credit and debit card transfers are not supported.
Coinbeerry stores 98% of its digital assets in cold storage. The cold storage is provided by Gemini Trust Company.
Bitbuy charges withdrawal fees for both Interac e-transfer and bank wire withdrawals.
Bitbuy recently delisted XRP as a supported cryptocurrency. So you cannot buy XRP on the exchange at the moment.
Bitbuy allows Interac e-transfer, bank transfer, cryptocurrencies, and credit cards.
Yes, you can buy Bitcoin Cash on Coinberry.
The parent organization of Bitbuy is First Ledger Corporation.
Bitbuy is one of the best Canadian crypto exchanges. It caters to both beginner and expert traders and offers the necessary tools to enable users to trade effectively. However, it only offers 20+ assets.
We always try to provide the most accurate information available, and make sure our team follow through.
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Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.