Guide
What To Consider: When Opening A Business Account With Bitbuy 
Article Author: Ziad El-Shourbagy
Ziad El-Shourbagy
All Topics

As the Bitcoin ecosystem matures, its momentum and success are driven by a myriad of projects and increasingly complex market movements. In the midst of these variables on its novel road ahead, Bitcoin is consistent in its digital scarcity, signalling to businesses and investors that it has all the right characteristics to become a diversifying asset in their portfolios.

 

Introducing: What To Consider Segment Series 

As a leader in the Canadian digital asset space, we will provide a deeper insight on what corporations need to consider when integrating cryptocurrency in their organization. We will be expanding the “What To Consider” segment to tackle the following topics, so stay tuned!

  • What to consider: Adding Bitcoin as an investment on your balance sheet.
  • What to consider: Adding Bitcoin as a form of payment for your business.
  • What to consider: Adding Bitcoin as a salary payout option to your employees.
  • What to consider: Taxation & accounting Q&A on adding Bitcoin to your corporate treasury.

Why Bitbuy?

Bitbuy has implemented industry-leading security and is a leader in Canadian Regulatory Adherence and Compliance. In addition to being a Virtual Asset Service Provider and registered MSB with FINTRAC, Bitbuy’s leadership team participates in IIROC Crypto-Asset Working Group. Bitbuy has also exceeded its Cold Storage Self-Mandate by completing its third annual proof of reserves and platform due diligence report by Blockchain Intelligence Group. The report found that Bitbuy  meets  and  exceeds  its own  mandate  requiring  95% of  customer funds to be held in cold wallet storage. The percentages of customer funds held in  cold  wallet  storage  for  Bitcoin,  Litecoin,  and  Ethereum are  above  98%. Bitbuy requires two-factor authentication on all transactions, one of the many safeguards that reflect our approach to security.

Bitbuy’s Corporate Capabilities

Rest assured, when dealing with Bitbuy you are getting the best-in-class trading capabilities: 

 

  1. Execution Strategy: Trading strategies to secure the best pricing and minimize market impact.
  2. Deep Liquidity: Our OTC desk has access to most major global exchanges where crypto is traded.
  3. Institutional-Grade Custody: Bitbuy uses best-in-class protocols for bitcoin custody and now works with industry-leading custodian BitGo, the world’s first qualified custodian purpose-built for storing digital assets.
  4. Concierge Service: Everyday coverage and dedicated account managers for white glove support.
  5. Counterparty Risk: Bitbuy acts as your agent to secure the best price and reduce counterparty risk.

 

Bitbuy’s Awards & Recognition

Bitbuy has been recognized and certified by the following organizations: 

 

  • 2018 Canadian FinTech & AI Awards
  • 2018 Notable Life Awards Startup Winner
  • 2020 Canada’s Top New Growth Companies – #54
  • 2021 Great Place to Work® Certified™

 

The Numbers

  • >$3.5 Billion Traded With Bitbuy
  • >350,0000 Registered Users on Bitbuy
  • >1,000 Corporate Clients
  • 7-days a Week Service With a Dedicated Account Manager 

 

How to Get Started With Bitbuy Corporate to Open a Business Account 

  1. In order to get set up with a business account, simply go to the sign-up page and select “Business Account”
  2. The next step is to go through personal KYC verification before you can begin business onboarding.
  3. You will then need to upload our business disclosure form along with the following documents (Articles of Incorporation, Business Proof of Address) and (Shareholder Register, List of Directors, if applicable) 
  4. Once approved, you will be encouraged to fund your account. E-transfers have a max capacity of $10k per transfer, Bank Wire transfers allow for amounts over $20k. Once the funds are deposited to the Business account, Bitbuy’s OTC (Over-the-Counter) Trading Desk is hands-down the best option for trades over $50k CAD or crypto equivalent.
  5. That’s it! Your assigned Account Manager will be your dedicated contact and guide you through every step of the way for a tailored onboarding and client experience. 

 

Contact us at [email protected] to learn more.