Bitbuy vs Coinberry

Bitbuy vs Coinberry

Daniel Chan

November 18, 2021

Cryptocurrency

Bitbuy and Coinberry are two of the top cryptocurrency exchanges in Canada so which one is better for you to use, and how can you make up your mind? With this article, I have compared several aspects of Bitbuy and Coinberry so you can decide which is for you. My recommendation is Bitbuy with more trading options, clear trading fees, lower spread and ability to transfer cryptocurrency.

Cell

Fiat Currencies

CAD

CAD

Number of Coins

9

18

Buy/Sell Fees

0.2%

Included in spread

Deposit Methods

Cell
Cell

Interac e-Transfer

Bank Transfer (ACH)

Wire Transfer

PayPal

Credit Card

Debit Card

Bank Draft

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

FINTRAC registered

Offline cold storage

Website

Cell

Fiat Currencies

CAD

CAD

Number of Coins

9

18

Buy/Sell Fees

0.2%

Included in spread

Deposit Methods

Cell
Cell

Interac e-Transfer

Bank Transfer (ACH)

Wire Transfer

PayPal

Credit Card

Debit Card

Bank Draft

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

FINTRAC registered

Offline cold storage

Website

Pros
  • User-friendly Express Trade feature
  • Pro Trade gives access to advanced charts and tools
  • Extremely secure crypto exchange with BTC insurance
  • Low trading fees of only 0.2% for Express Trade and 0.1%/0.2% Maker/Taker fees for Pro Trade
Cons
  • Only offers 9 different cryptocurrencies
Pros
  • Easy set-up process, so you can buy within minutes
  • No deposit and withdrawal fees
  • 18 different cryptocurrencies supported
  • Intuitive user interface
Cons
  • No market trades available, only quick buy/sell
  • Cannot withdraw crypto from exchange (besides BTC, ETH, LTC)

Bitbuy vs Coinberry Fees

Let's take a look at the fees that Bitbuy and Coinberry charges.

Deposit Fees

Depositing CAD into Bitbuy will incur a 1.50% fee with Interac e-Transfer, and 0.5% fee using Wire transfer.

Coinberry does not charge any fees for deposits.

Trading Fees

On Bitbuy if you use Express Trade (the easiest way to buy and sell cryptocurrency), the fee is 0.2%.

If you use Pro Trade (trading on the market), the maker fee is 0.1% and the taker fee is 0.2%.

Coinberry does not charge any commission on trades, but their fees are included in the spread. Before your order is confirmed, Coinberry will show the estimated fee (included in the price) that goes to the exchange.

Withdrawal Fees

Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer, and 1.0% fee using Wire transfer.

Coinberry doesn't charge any fees to withdraw your CAD.

Winner - Tie

Bitbuy charges a deposit and withdrawal fee, but Coinberry has a much wider spread to incorporate their fees. Bitbuy charges only 0.2% on trades with a tighter spread. This one is a tie because it depends on whether you like to deposit and withdraw a lot, or whether trading is more important.

Bitbuy vs Coinberry Deposit Methods

Bitbuy accepts deposits via Interac e-Transfer, Wire Transfer and Cryptocurrency.

Coinberry accepts deposits via Interac e-Transfer, Wire Transfer, Credit card, Debit card and Cryptocurrency.

Winner - Coinberry

Coinberry accepts all the deposit methods that Bitbuy does, plus credit and debit cards, making it the winner in this category.

Bitbuy vs Coinberry Features 

Bitbuy and Coinberry are two of the best crypto exchanges in Canada and they have many features worth mentioning. However, I won't talk about them all here - if you wanted to find out more, read my Bitbuy review (here) and my Coinberry review (here). In this comparison I will outline briefly some of the main features that separate Bitbuy and Coinberry from their competitors.

Bitbuy has an intuitive and easy-to-use platform that is very simple for beginners to navigate. The Express Trade function is straightforward and you can buy or sell any of Bitbuy's 9 popular cryptocurrencies instantly, without dealing with market orders.

Bitbuy has another way to trade (Pro Trade) which is better suited to those that have more experience in crypto trading. There are advanced charts by TradingView, and access to limit and market orders.

Bitbuy is known as the most trusted and secure exchange in Canada, and part of the reason is that they have partnered with BitGo Trust Company for cold storage of their crypto assets offline. BitGo Trust Company is the world’s first qualified custodian, purpose-built for storing digital assets. All cryptocurrency assets held in custody with BitGo are covered by a comprehensive insurance policy, meaning that all cryptocurrency held in your Bitbuy account would be covered under the same policy.

Coinberry has a feature called AutoPilot that lets users automatically make recurring purchases of crypto. This is a good way to reduct the effect of price volatility by averaging out the cost of buying crypto. You can choose how much crypto you want to buy, and the frequency to suit your requirements.

Coinberry users have access to Coinberry Pay which allows them to get paid in BTC into their Coinberry account. They can share a link to anyone or even add a Coinberry Pay button on their website so others can pay or donate in Bitcoin. Once the Bitcoin is received in the Coinberry account, it is automatically converted to Canadian Dollars.

Winner - Tie

This is another close contest, and it really depends on what your individual needs are. With Bitbuy, you can access market trades and place limit orders, whereas on Coinberry you can only buy crypto instantly from the exchange. However, with Coinberry you can set up recurring purchases, and accept BTC payments easily with Coinberry pay.

Bitbuy vs Coinberry Security

Bitbuy prides itself on being the most secure and trusted Canadian crypto exchange with servers secured across multiple world class cloud providers and disaster recovery locations. All their providers are ISO, SOC, and FIPS 140-2 compliant. Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is always secure. Bitbuy has 2FA (two-factor authentication) and biometric login security features, and the majority of Bitbuy's crypto assets are stored offline with BitGo Trust Company, with comprehensive insurance.

Coinberry is also extremely secure, with institutional-grade crypto protection to keep their users safe. Coinberry's crypto assets are protected by Gemini Trust Company LLC™, the most regulated, secure and compliant digital asset custodian in the world, with $200 million in insurance coverage. Coinberry doesn't only insure against external threats, but also internal threats; they are covered by insurance that protects against financial losses due to dishonest acts and unethical behavior from Coinberry employees.

Winner - Bitbuy

Bitbuy and Coinberry are both very safe platforms, but Bitbuy wins as it is the most trusted and secure exchange in Canada and hasn't been hacked since its establishment in 2013.

Verdict - Bitbuy

Bitbuy and Coinberry are two popular Canadian crypto exchanges, and which one you choose will ultimately come down to what you need as a user. In my opinion, Bitbuy is more suitable for the majority of Canadians because it caters to both beginners and more advanced traders. With its user-friendly interface, low trading fees, and as the most secure and trusted exchange in Canada, it is my #1 choice.

One criticism that I hear about Bitbuy is that it has a limited range of only 9 cryptocurrencies. Although this is true, Bitbuy's range covers many of the most popular coins, so check which cryptocurrencies you want to buy before signing up to any exchange. If you are after a greater choice of coins, Coinberry has 18, and if you want a huge choice, Binance (see review here) is an international exchange with over 300+ coins. For more options in Canada, read our article on the best crypto exchanges in Canada here.

Overall Winner - Bitbuy

Bitbuy is the winner of this comparison because of its beginner-friendly interface, low trading fees, market trading platform, as well as being the most secure and trusted exchange in Canada.

Still Researching?

If you want to learn more before choosing any cryptocurrency exchange, you can have a look at my Bitbuy review (here) or Coinberry review (here). You may also enjoy our article on the best crypto exchanges for Canadians, which you can read here. If you want a quick way to compare some key information about the top exchanges, see my table below.

Comparison Table of the Best Crypto Exchanges in Canada

Bitbuy
Binance
VirgoCX
Coinberry
NDAX
Crypto Exchange
Crypto Exchange
Bitbuy
Binance
VirgoCX
Coinberry
NDAX
Fiat Currencies
Fiat Currencies
CAD
CAD, USD, GBP, EUR, AUD, HKD, JPY & 35 more
CAD, USD
CAD
CAD, USD
Cryptocurrencies
Cryptocurrencies
BTC, BCH, ETH, LTC, XRP, XLM, EOS, AAVE, LINK
BTC, ETH, XRP, LTC, BCH, EOS, XMR, TRX, XLM, NEO & 300+ more
BTC, ETH, LTC, EOS, DOT, ADA & 17 more
BTC, ETH, BCH, LTC, XLM, ADA, DOGE, DOT & 10 more
BTC, ETH, LTC, XRP, EOS, DOGE, ADA & 12 more
Deposit Methods
Deposit Methods
Interac e-Transfer, Wire transfer, Cryptocurrency
Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Cryptocurrency
Interac e-Transfer, Wire transfer, Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Bank Draft, Cryptocurrency
Trading Fees
Trading Fees
Express Trade: 0.2%, Pro Trade: 0.1/0.2% Maker/Taker
0.1%
0%
Included in spread
0.2%

Marketplacefairness.org 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. 

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