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Bitbuy vs Coinsquare

Bitbuy vs Coinsquare

Karen Tren
Fact Checked
June 17, 2022

Bitbuy is a Canadian-based cryptocurrency exchange established in 2015. Bitbuy has been frequently compared to Coinsquare, another popular Canadian cryptocurrency exchange.

In this Bitbuy vs Coinsquare comparison, we will pit the two exchanges against each other in terms of fees, security, supported assets, deposit methods, and customer support.

Table of Contents

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.


Supported Assets

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.

Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

Karen Tren
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