✅ Winner: Binance
*For Ontario residents, Binance is currently unavailable so Bitbuy wins by default.
Binance beat Bitbuy when it comes to fees, coins and features. Bitbuy won when it comes to CAD deposit and withdrawals and being an easier platform for beginners. Overall, we give the win to Binance.
Binance had a 1.60% total purchase fee when using CAD (versus 1.99% on Bitbuy), 400+ coins (versus 25), a 0.00% spread on Bitcoin (versus 0.41%) and 30+ features (versus 5-10).
We recommend funding your Binance account with crypto because then you will get the lowest spreads and trading fees in the industry (and dramatically lower the 1.60% total purchase fee). We recommend Newton or VirgoCX to do that.
To compare these platforms, we broke them down into 5 main categories: Fees, Features, Deposit & Withdrawals, Security and Ease of Use. Then, we collected over 50 features and 100 data points using live accounts to decide the winner.
RankFi tracks dozens of crypto products. Lean more about our methodology here.
Header |  Binance |  Bitbuy |
|---|---|---|
BEST OVERALL | ✅ Winner | Cell |
FEES | ✅ Winner | Cell |
COINS & FEATURES | ✅ Winner | Cell |
CAD DEPOSIT & WITHDRAWALS | Cell | ✅ Winner |
SECURITY | ✅ Both platforms considered safe | |
EASE OF USE | Cell | ✅ Winner |
BONUS | 10% off trading fees forever + up to $100 free | Get $40 free when you deposit $250 |
OPEN ACCOUNT | ||
Fees*All prices tested Mar 2, 2022 and are subject to change | Binance | Bitbuy |
|---|---|---|
Cell | ✅ Winner | Cell |
Total BTC Purchase Fee | 1.60% | 1.99% |
Total BTC Selling Fee | N/A (can't cash out CAD) | 1.72% |
Trading Fee | 0.10% or less | 1.50% |
Trading Fee Discounts | ✅ Yes | ✅ Yes |
BTC Spread | 0.00% | 0.41% |
BTC Buy Price* | $55,607 CAD | $55,936 CAD |
BTC Sell Price* | $55,607 CAD | $55,708 CAD |
Reference Price Difference | Buy: -0.30% Sell: -0.30% | Buy: +0.29% Sell: -0.12% |
Reference Price (Google)* | $55,774 CAD | $55,774 CAD |
CAD Deposit Fee | 1.80% (credit card) | Free |
CAD Withdraw Fee | Can't cash out CAD | 1.50% |
Crypto Deposits | Free | Free |
BTC Withdrawal Fee | 0.0005 BTC (SegWit) | 0.00035 BTC |
ETH Withdrawal Fee | 0.00625 ETH (ERC 20) | 0.007 ETH |
USDT Withdrawal Fee | 35 USDT (ERC 20) | USDT not supported |
Features | Binance | Bitbuy |
|---|---|---|
Cell | ✅ Winner | Cell |
# of Features | 30+ | 5-10 |
Coins | 400+ | 25 |
Mobile App | ✅ Yes | ✅ Yes |
Instant Buy (beginners) | ✅ Yes | ✅ Yes |
Advanced Trading | ✅ Yes | ✅ Yes |
Staking | ✅ Yes | 🚫 No |
Lending/Borrowing | ✅ Yes | 🚫 No |
Other Rewards? | ✅ Yes | 🚫 No |
Margin | ✅ Yes | 🚫 No |
Futures | ✅ Yes | 🚫 No |
OTC | ✅ Yes | ✅ Yes |
Native Token | ✅ Yes (BNB) | 🚫 No |
Affiliate Program | ✅ Yes | ✅ Yes |
24/7 Support | ✅ Yes | 🚫 No |
Deposit Methods | Binance | Bitbuy |
|---|---|---|
Cell | Cell | ✅ Winner |
Buy With CAD? | ✅ Yes | ✅ Yes |
Hold CAD In Your Account? | 🚫 No | ✅ Yes |
Interac e-Transfer | 🚫 No | ✅ Yes - Free - Near instant |
Wire Transfer | 🚫 No | ✅ Yes - Free - min $10k deposit - 3-5 days |
Direct Bank Transfer | 🚫 No | 🚫 No |
Credit/Debit | ✅ Yes - 1.80% fee - Instant | 🚫 No |
Other | P2P Exchange | N/A |
Withdrawal Methods | Binance | Bitbuy |
|---|---|---|
Cell | Cell | ✅ Winner |
Cash Out CAD? | 🚫 No | ✅ Yes |
Interac e-Transfer | 🚫 No | ✅ Yes - 1.50% fee - Near instant |
Wire Transfer | 🚫 No | ✅ Yes - 1.50% fee - min $20k withdrawal - 3-5 days |
Direct Bank Transfer | 🚫 No | 🚫 No |
Other | P2P Exchange | N/A |
Security | Binance | Bitbuy |
|---|---|---|
Winner | ✅ Both platforms considered safe | |
Year Founded | 2017 | 2016 |
Headquarters | 🌎 Remote Company | 🇨🇦 Toronto, Canada |
Uses Cold Storage | ✅ Yes | ✅ Yes |
FINTRAC Regulated | ✅ Yes | ✅ Yes |
Insurance Policy | ✅ Yes | ✅ Yes |
Any Hacks or Incidents? | ✅ Yes: 2019 | 🚫 No |
2FA | ✅ Yes | ✅ Yes |
Address Whitelisting | ✅ Yes | 🚫 No |
View Login History | ✅ Yes | ✅ Yes |
Crypto Withdrawals Allowed | ✅ Yes | ✅ Yes |
KYC | ✅ Yes | ✅ Yes |
Publicly Traded | 🚫 No | ✅ Yes: WNDR |
Sign Up | Binance | Bitbuy |
|---|---|---|
Bonus | 10% Off Trading Fees Forever & Up To $100 Free | Get $40 Free When You Deposit $250 |
Referral Link |
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