Bitbuy vs VirgoCX

Bitbuy vs VirgoCX

Daniel Chan

November 18, 2021

Cryptocurrency

If you have some research on crypto exchanges, I'm sure you have heard of Bitbuy and VirgoCX. They are two of the best Canadian crypto trading platforms so how do you choose which one to sign up with? In this article, I look at various factors of these two exchanges so you can see how they stack up and which is better for you. VirgoCX and Bitbuy are both very similar platforms and are both great choices, but I think VirgoCX just inches ahead in this head-to-head comparison.

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Fiat Currencies

CAD

CAD, USD

Number of Coins

9

23

Buy/Sell Fees

0.2%

0%

Deposit Methods

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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, USD

Number of Coins

9

23

Buy/Sell Fees

0.2%

0%

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
  • Zero trading fees and deposit fees
  • Crypto withdrawal fees are waived or reduced depending on the coin
  • 24/7 Live Chat and email customer support
  • 23 different cryptocurrencies supported
  • Intuitive user interface
Cons
  • Relatively new exchange

Bitbuy vs VirgoCX Fees

Let's compare the various fees that Bitbuy and VirgoCX charges.

Deposit Fees

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

VirgoCX 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%.

VirgoCX does not charge any trading fees, and their spreads are competitive.

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.

VirgoCX charges 0.5% to withdraw your CAD.

Winner - VirgoCX

VirgoCX wins when it comes to fees. There are no deposit fees or trading fees, and just 0.5% withdrawal fee. In comparison, Bitbuy charges deposit fees, 0.2% trading fee, and withdrawal fees that are higher than VirgoCX. 

Bitbuy vs VirgoCX Deposit Methods

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

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

Winner - Tie

Bitbuy and VirgoCX both accept the same methods of depositing: Interac e-Transfer, Wire Transfer and Cryptocurrency.

Bitbuy vs VirgoCX Features 

Bitbuy and VirgoCX are two of the most popular cryptocurrency exchanges for Canadians and offer many features that their users love. I'm not going to cover the entire range of features in this comparison article, but I will mention some key points that make them stand out. If you are interested in learning about the full range of features of either of these exchanges, check out my reviews: Bitbuy review and VirgoCX review.

Bitbuy is the perfect choice for beginners because they have an extremely simple Express Trade feature that anyone can figure out how to use. As you can see in the screenshot below, it is easy to buy or sell one of the 9 coins available on the exchange. The trade will be filled instantly, you don't need to wait for an order to be filled on the market.

For more experienced traders, Bitbuy has a more advanced method of trading called Pro Trade. This is a market where you can place market or limit orders and trade with other Canadian crypto investors. In Pro Trade, there are detailed charts from TradingView for traders to use.

Bitbuy is widely-known as the most trusted and secure Canadian exchange, and this is demonstrated with their partnership with BitGo Trust Company to store their cryptocurrency 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.

VirgoCX pays attention to their customers, with 24/7 Live Chat and email options if you are in need of assistance at any time. This is very valuable to new cryptocurrency users, who may find themselves with a lot of questions early on. 

VirgoCX has a Quick Trade feature that allows users to easily buy and sell Bitcoin, Ether and USDT. For the other 20 coins, you need to use the Advanced Trade feature where you can trade on the market by placing limit or market orders.

VirgoCX has an Over-The-Counter (OTC) trade desk available for trades over $30 000, catering to institutional investors. There are dedicated OTC account managers that provide personalized service, and users can access deep liquidity pools without price slippage.

Winner - VirgoCX

VirgoCX wins in terms of features, with the Live Chat support being a key difference that sets it apart from Bitbuy. Having a real customer support agent to talk to when you are a beginner is really valuable.

Bitbuy vs VirgoCX Security

Bitbuy is proudly the most secure and trusted crypto exchange in Canada. They have 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 uses 2FA (two-factor authentication) and biometric login security features, and the majority of Bitbuy's digital assets are stored offline with crypto custodian BitGo Trust Company, with comprehensive insurance cover.  

You can trust that your cryptocurrency is safe with VirgoCX with 2FA and SSL protocols, as well as protection by Ledger Vault. VirgoCX's banking and payment partner is trusted and reliable, allowing secure transfer of your CAD to and from the platform. VirgoCX is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to ensure the safety of user accounts and secure financial transactions.

Winner - VirgoCX

Bitbuy and VirgoCX are two very safe platforms, but Bitbuy wins this category since it is the most trusted and secure exchange in Canada. It has never been hacked since it was founded in 2013.

Verdict - VirgoCX

Bitbuy and VirgoCX are two very well-known crypto exchanges in Canada, and you can't go wrong with either of them. However, if you ask for my recommendation, I would suggest VirgoCX because it has free deposits and zero trading fees, and only 0.5% withdrawal fee. They offer 23 coins (more than double of Bitbuy), and have Live Chat customer support to top it off.

Some crypto traders might want a wider range of coins than 23, so if you are serious about trading, you may want to check out Binance (see review here) which is an international crypto trading platform with over 300+ coins. If you want to compare some other options, you can read our article about the top crypto exchanges for Canadians here.

Overall Winner - VirgoCX

VirgoCX wins the contest because it has fee-free deposits and 0% commission trades, with only a small 0.5% withdrawal fee. VirgoCX has more coins on offer and Live Chat support.

Still Researching?

If you are still undecided, you can read my Bitbuy review (here) or VirgoCX review (here). You can also take a look at my article about the best crypto exchanges for Canadians (here). I have also created a table comparing some key aspects of the top crypto exchanges which you can see 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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