[Exchanges](https://revain.org/exchanges/) › Bitbuy

# Bitbuy: licences, security, fees and reviews

Centralized exchange

## In short

- **Legal entity**: Coinsquare Capital Markets Ltd.
- **Fees**: Spot maker / taker: Pro Trade 0.50% maker / 0.50% taker standard rate; 0% maker / 0.10% taker at Tier 4 ($5m+ volume) (as of 31 October 2026)
- **Risks and caveats**: Crypto assets are not covered by CIPF; only the cash portion is.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2016
- **Country of registration**: Canada
- **Operator**: Coinsquare Capital Markets Ltd. (Toronto, Canada); Bitbuy is its trade name
- **Official site**: [bitbuy.ca/en-ca](https://bitbuy.ca/en-ca)

Key facts checked on 31 October 2026 against official sources and regulator registers.

## What is Bitbuy

Bitbuy is a Canadian crypto trading platform established in 2016. It is a trade name of Coinsquare Capital Markets Ltd., a CIRO-regulated investment dealer in the WonderFi group, which Robinhood acquired on 1 June 2026. It offers Express Trade, Pro Trade, staking and OTC (Private Wealth).

## Good to know

- Bitbuy is a trade name: the legal counterparty is Coinsquare Capital Markets Ltd. [↗](https://bitbuy.ca/en-ca)
- Robinhood completed its acquisition of WonderFi, the owner of Bitbuy, on 1 June 2026; Robinhood says Bitbuy and Coinsquare will become part of the Robinhood brand. [↗](https://newsroom.aboutrobinhood.com/robinhood-enters-canada-completes-acquisition-wonderfi/)
- CIPF covers only the cash portion of an account, not crypto assets. [↗](https://bitbuy.ca/en-ca/legal/ccml-caa)
- Express Trade has no trading fee; the cost is built into the quoted spread. [↗](https://bitbuy.ca/en-ca/fees)
- Staking commission is taken from rewards, e.g. 25% for ETH and 28% for SOL (as of 31 October 2026). [↗](https://bitbuy.ca/en-ca/fees)

## Services

| Parameter | Details |
|---|---|
| Spot trading | Express Trade (spread-based quotes) and Pro Trade (order book, maker/taker fees). |
| Staking / Earn | Staking of ETH, SOL, ADA, DOT and other assets; commission deducted from rewards. |
| Fiat deposits | CAD by Interac e-Transfer (free) and wire. |
| Custody / wallet | Crypto held in trust at Coinbase Custody Trust Company and BitGo Trust Company, among other custodians. |
| OTC | Private Wealth (OTC) desk. |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| Canada | Coinsquare Capital Markets Limited | Crypto Asset Trading Platform authorized to do business with Canadians; CSA decision of 11 October 2024 (CSA list) | [Canadian Securities Administrators (CSA)](https://www.securities-administrators.ca/crypto-platforms-regulation-and-enforcement-actions/crypto-platforms-authorized-to-do-business-with-canadians/) |
| Canada | Coinsquare Capital Markets Ltd. | Member of CIRO; registered with the OSC and CSA as a crypto asset trading platform (company statement) | [Canadian Investment Regulatory Organization (CIRO); Ontario Securities Commission](https://bitbuy.ca/en-ca/security) |
| Canada | Coinsquare Capital Markets Ltd. | Registered with FINTRAC as a money services business (company statement; MSB number not published) | [FINTRAC](https://bitbuy.ca/en-ca) |

## Proof of reserves as of 13 November 2023

Method: Annual proof of reserves and platform due-diligence report by a third party; cold-storage share published per token. Blockchain Intelligence Group [↗](https://bitbuy.ca/en-ca/proof-of-reserves)

## Security and audits

- Bitbuy states that crypto is backed 1:1 and that over 90% is held in insured cold storage with a qualified custodian (BitGo).
- The 2023 report states 97.59% of client funds were in cold storage (timestamps 13 November 2023).
- Two-factor authentication; servers with ISO, SOC and FIPS 140-2 compliant cloud providers.

## Security incidents

No security incident is recorded in the sources checked on 31 October 2026 (the company’s own channels and incident databases): [status.bitbuy.ca/history.rss](https://status.bitbuy.ca/history.rss), [bitbuy.ca/sitemap.xml](https://bitbuy.ca/sitemap.xml), [bitbuy.ca/en-ca/updates/bitbuys-commitment-to-se](https://bitbuy.ca/en-ca/updates/bitbuys-commitment-to-security-and-compliance), [hacked.slowmist.io](https://hacked.slowmist.io/), [defillama.com/hacks](https://defillama.com/hacks), [rekt.news/leaderboard](https://rekt.news/leaderboard)

## Fees

| Parameter | Details |
|---|---|
| Spot maker / taker | Pro Trade 0.50% maker / 0.50% taker standard rate; 0% maker / 0.10% taker at Tier 4 ($5m+ volume) (as of 31 October 2026) |
| Express trade | No trading fee; spread included in the quote (as of 31 October 2026) |
| Deposits | CAD Interac e-Transfer and wire deposits 0%; crypto deposits free (as of 31 October 2026) |
| Withdrawals | CAD Interac e-Transfer 0% (max $2,000, once per 24 hours); direct bank and wire 1.5% (as of 31 October 2026) |

## Who can use it

- Verification: Users must be of the age of majority where they live and provide accurate identity information.

## History

| Date | Event |
|---|---|
| 2016 | Bitbuy is established in Canada. |
| 2019 | Bitbuy publishes its first proof of reserves. |
| 13 November 2023 | Fourth annual proof-of-reserves report by Blockchain Intelligence Group (the latest on the site as of 31 October 2026). |
| 11 October 2024 | CSA decision for Coinsquare Capital Markets Limited as a crypto asset trading platform. |
| 1 June 2026 | Robinhood completes its acquisition of WonderFi, Bitbuy's parent. |

## Risks and caveats

- Crypto assets are not covered by CIPF; only the cash portion is.
- Blockchain transactions cannot be reversed once sent.
- Crypto is held in omnibus custodial accounts with third-party custodians.

## About the company

- **Legal entity**: Coinsquare Capital Markets Ltd.
- **Parent company**: WonderFi, owned by Robinhood Markets, Inc. since 1 June 2026
- **Founded**: 2016
- **Headquarters**: Toronto, Ontario, Canada (mailing address 304-371 Front St.)

## Official links

- Website: [bitbuy.ca/en-ca](https://bitbuy.ca/en-ca)
- Fees: [bitbuy.ca/en-ca/fees](https://bitbuy.ca/en-ca/fees)
- Proof of reserves: [bitbuy.ca/en-ca/proof-of-reserves](https://bitbuy.ca/en-ca/proof-of-reserves)
- Licences: [bitbuy.ca/en-ca/legal-and-regulatory-documents](https://bitbuy.ca/en-ca/legal-and-regulatory-documents)
- Terms of use: [bitbuy.ca/en-ca/legal/ccml-caa](https://bitbuy.ca/en-ca/legal/ccml-caa)
- Security: [bitbuy.ca/en-ca/security](https://bitbuy.ca/en-ca/security)

## Questions and answers

**Is Bitbuy regulated?**

Bitbuy is operated by Coinsquare Capital Markets Ltd., a CIRO member that appears on the CSA list of crypto asset trading platforms authorized to do business with Canadians (decision of 11 October 2024) and is registered with FINTRAC as a money services business.

**Does Bitbuy publish proof of reserves?**

Bitbuy says it publishes yearly reports, but the latest one on its site is dated 13 November 2023 (by Blockchain Intelligence Group, 97.59% of client funds in cold storage at that time); no newer report was found as of 31 October 2026.

**What are Bitbuy's fees?**

As of 31 October 2026 Express Trade has no trading fee but uses a spread; Pro Trade lists 0.50% maker and taker, and CAD Interac e-Transfers are free.

**Who owns Bitbuy?**

Bitbuy is a trade name of Coinsquare Capital Markets Ltd., part of WonderFi. Robinhood Markets, Inc. completed its acquisition of WonderFi on 1 June 2026 and says Bitbuy will become part of the Robinhood brand.

## Sources

- [Bitbuy - Home](https://bitbuy.ca/en-ca)
- [Bitbuy - Fees](https://bitbuy.ca/en-ca/fees)
- [Bitbuy - Proof of Reserves](https://bitbuy.ca/en-ca/proof-of-reserves)
- [Bitbuy - Security](https://bitbuy.ca/en-ca/security)
- [Coinsquare Capital Markets - Client Account Agreement](https://bitbuy.ca/en-ca/legal/ccml-caa)
- [Canadian Securities Administrators - Crypto platforms authorized to do business with Canadians](https://www.securities-administrators.ca/crypto-platforms-regulation-and-enforcement-actions/crypto-platforms-authorized-to-do-business-with-canadians/)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/bitbuy/