Frequently Asked Questions

Bitcoin is a peer-to-peer payment/currency platform based on blockchain technology. It operates with no central authority, no central bank or government. A process described as "mining" facilitates the operation and governance of all transactions, as well as the issuance of bitcoins or BTC. This process is acheieved collectivley through the aggreate computing power of the networks participants. Bitcoin is an open-source project with its design publicy available, no single entity owns or controls Bitcoin allowing anyone to participate.

Ethereum is a public blockchain-based distributed computing platform, featuring smart contract functionality. It provides a decentralized virtual machine, the Ethereum Virtual Machin (EVM), that can execute peer-to-peer contracts using tokens called ether. is a discount crypto-currency broker offering instant procurement options for all types of buyers. Using BitBuys proprietary trading algorithms, our platform scours the internet in real-time, in search of the lowest market price, all within a few clicks! Fundinf your account is easily completed using Interac Online, Interac e-Transfer, or using Flexepin vouchers. is wholly owned and operated by Monitex Inc. Monitex Inc. is a Canadian FinTech company located in Toronto, ON.

Bitbuy™, a division of Monitex Inc.
341 - 110 Cumberland Street
Toronto, Canada
M5R 3V5

Offered by hundreds of merchants for online payments, Interac Online allows you to pay for your purchases easily, directly from your bank account. Whether you’re ordering dinner, looking for a gift for a special someone, or treating yourself to that brand new pair of shoes you’ve been eyeing, Interac Online is an immediate, secure, and easy-to-use online payment method. All you need is access to online banking through a Participating Financial Institution. Payments made with Interac Online are conducted through the convenience of your existing online banking access, without requiring you to create any new user names, passwords or accounts.

Interac e-Transfer is a convenient way to send and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution, and you can send money to anyone with an email address or mobile phone number and a bank account in Canada — without sharing any personal financial information.

What financial institutions offer Interac e-Transfer?

You can use Interac e-Transfer at over 250 participating financial institutions:

A Flexepin Cash Top-Up Voucher is a prepaid voucher that lets you top-up your accounts to make secure, hassle-free online payments. Because Flexepin are prepaid, the risk of having your identity and banking information exposed online is eliminated. This makes it safer than conventional online payment methods. You can purchase Flexepin Cash Top-Up Vouchers at a variety of locations globally, in various currencies and pre-determined amounts.

Flexepin Store Finder


First time purchases will be held for 24-72 hours (1-3 Business Days). Upon 3 successful account fundings that have been qualified and subjected to our security hold, orders will be fulfilled in real-time.

There are several reasons why you might get a 'Transaction Failed' error after going through the funding process. Most likley, as this your first time funding with us, your bank will subject the funds to a hold. It may appear that your funds are "gone" or have been "taken" out of your account as your bank account balance will show.

When this occurs, your funds are being held by your bank for security purposes. It is best to contact your bank and verify they transaction with them to either A) release the funds to us, or B) have them cancel the transaction, at which point your funds will be "unheld" by your bank.

Many times customers contact us stating "Money gone, no bitcoin" or "You have stolen money...etc". To be clear, we do not and cannot, take funds out of your account. This is simply not how the Interac platform works. Another potential reason for a 'Transaction failed' might also be due to technical issues with the banks, the Interac network, and/or the gateway providers. In the rare case your transaction was not held, an allowed to go through please contact us through our support channel and we will assist with any issues related to held funds or failed transactions.

Interac e-Transfers are only accepted from verifed customers who submit all neccesary documents as per our verification policy. Simply submitting a deposit request and sending us an Interac e-Transfer does not constitue funding your account. Please do not send us e-Transfers unless your account is verified. Interac e-Transfers will not be accepted fron non verified accounts.

Please note: Most banks will charge a fee for canceling an e-Transfer. Bitbuy is not responsible for cancelation fees associated with e-Transfer we do not accept.

Industry standard ID and address verification is performed manually by our support staff. This process can take 1-3 business days.

Required Documents:

  • A clear copy of a Passport or Drivers license and must be uploaded in colour.
  • A clear copy of a bank statement AND utility bill showing your name and proof of address.
  • A clear photo of yourself holding the government issued ID that you submitted to us.
  • All business accounts must provide additional documents proving authority to act on behalf of a corporation.

Please contact support to have your account cancelled. supports all known Bitcoin wallets. We recommend Blockchain.Info as its trusted by more than 7 million users. Click here to learn more.

Please see our list below on funding times for more details:

  • Interac Online - Instant
  • Interac e-Transfer - 24hrs
  • Flexepin Voucher - Instant

To receive a Bitcoin transaction, there are really just two things you will require:

  • The amount of bitcoin or BTC
  • Your Bitcoin wallet address

A Bitcoin wallet address is a kind of account number, which is comprised of a unique 26-35 alphanumeric string looking like this:


This address can also be a QR code containing the address and payment amount, which can be scanned on a mobile device for quick use:

Coming soon, you'll be able to create your own unique wallet addresses from within your Bitbuy account for free. In the meantime we encourage you to checkout Blockchain.Info if you need a wallet solution.

We typically do not offer refunds as per our policy.

In the event you are unable to use our services after funding your account and cannot purchase bitcoin, the funds will be reversed back to the cardholder.

Obviously once bitcoin or ether has been ordered there are strictly no refunds.

In order to have your account verified, you must sign in, click the 'Account' menu and click 'Member Profile' to input your account information.

Once you have filled in your 'Member Profile', click the 'Account' menu and click 'Verification' to upload your documents.

Yes. All Interac funding options require verification.

Once you are signed in on the 'Home' page, you will see the 'Purchase Crypto' box on the right.

Simply check the Use all available balance checkbox and it with automatically complete the calculation to use your entire balance.

Unlike most operators in the space, there is a hard time putting a face on many companies offering products and services like ours. Our founders are no strangers to the Canadian Bitcoin industry, find out more on our About Us page.

On top of that, we utilize industry leading security protocols and operate within full compliance of Canadain law. Additionally, Bitbuy is owned and operated as a division of Monitex Inc. a federally registered Canadian corporation.

To sign up for a merchant account visit: