Behind the scenes, a lot of blockchain and crypto projects continue to flourish and grow, one of them is Bitbuy. The year 2018 bear market has reduced the fun in the blockchain industry. This has also made it easy to miss positive developments.
In all fairness, many blockchain and crypto projects continue to boom and grow during the market downturn. Presently, we will focus on a fiat to crypto exchange based in Canada, Bitbuy.
Experience In Digital Currency
The crypto sphere still has a lot of potentials, despite the height attained by Bitcoin. Bitbuy started in 2013 as InstaBT. It is one of the oldest platforms around. Although, it is only trading on a simplified platform. However, it’s purpose has always been the same.
It offered a smooth and cheap entry point into crypto for investors in Canada. Although, trading crypto to crypto can be done for low fees. But, for many exchanges, the step from fiat to crypto and vice versa is inevitable. It’s also more expensive. This is partly because banks and payment processors consider crypto of high risk.
Also, because of the difficulty to large international exchanges to break into markets such as Canada. This is due to their domestic banking and regulatory environments. This leads to a lot of new investors in crypto. They end up paying as much as 5-8% on their first purchases.
Importantly, Bitbuy offers as low as 0.50% fees for wire transfers. It also offers between 0.50% – 0.75% for trades between fiat and the main coins used to move funds between exchanges. Presently, they offer Bitcoin, Ethereum, Litecoin and Bitcoin Cash. They also have plans to add XRP in the near term.
To withdraw coins also requires low-cost. The low-cost combined with their applaudable customer service makes Bitbuy a smart choice. This applies to new and experienced Canadian investors.
Bitbuy is a primary product of First Ledger Corporation. They also offer OTC trading and retail merchant solutions, alongside consulting. Their success in their different arms is as a result of a strong community of users and reputation.
They have low fees and requisite experience. However, they need the name recognition. Currently, they are among the top 5 exchange in Canada. However, they aim at becoming the biggest and most reliable exchange in the country.