Quick-Take: Why Bitbuy is better than Coinsquare
Bitbuy is a regulated exchange with enhanced security features, while Coinsquare does not have official licensing. Bitbuy also offers lower fees for trading, deposits and withdrawals, and supports a wider range of digital assets. Overall, Bitbuy is the better choice for Canadian cryptocurrency investors.
Bitbuy vs Coinsquare: Fees
Bitbuy's trading fees are 0.2% for both maker and taker orders. For orders worth more than $200,000 CAD, the fee is only 0.1%. Additional to this, there is no fee for depositing or withdrawing on their platform.
Coinsquare charges a flat fee of 0.2% per trade. Deposits made via bank wire transfer are free, while withdrawals cost $5 CAD.
Security and Licensing Compared
Bitbuy is a licensed cryptocurrency exchange under the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Bitbuy has also implemented multiple security measures, including 2-factor authentication and a host of other safety features. Bitbuy is a subsidiary of Paycase Financial, which is registered with FINTRAC as a money services business.
Coinsquare is also a registered FINTRAC business and is licensed to operate as a cryptocurrency exchange in Canada. Coinsquare has implemented multiple security features, including 2-factor authentication.
Bitbuy currently supports 15 cryptocurrencies on their platform, they include Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Coinsquare currently supports 10 cryptocurrencies and they include Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, Monero, and Ethereum Classic.
Bitbuy vs Coinsquare: Deposit Methods
Bitbuy allows users to deposit funds via bank transfer, Interac e-Transfer and debit/credit cards.
Coinsquare allows users to deposit funds via bank transfer or Interac e-Transfer.
Bitbuy vs Coinsquare: Customer Support
Bitbuy offers customer support via email and a ticketing system. Bitbuy also has a frequently asked questions (FAQ) section on its website.
Coinsquare offers customer support via email, telephone, and a ticketing system.
Bitbuy vs Coinsquare: Final Verdict
Bitbuy is the clear winner in this Bitbuy vs Coinsquare comparison. Bitbuy's trading fees are lower, it has a more comprehensive selection of supported assets, and its customer support is superior.
Bitbuy is also a licensed cryptocurrency exchange, while Coinsquare is not. We recommend Bitbuy for Canadian cryptocurrency traders looking for a reliable and affordable trading platform.
For a comprehensive review of Bitbuy, please visit our Bitbuy Canada Review page.