Bitbuy's Commitment to Insurance & Regulation

Bitbuy offers Canadians a fully integrated solution for buying, selling, and trading crypto assets, with all trades taking place on its regulated marketplace. This is a historical moment for Canadians looking to invest in crypto assets easily and safely in a regulated environment.

Our mission has always been the same – to provide our clients the best global prices, the deepest liquidity, and the most crypto asset products in Canada with a convenient, dependable, and secure platform. That’s why we take pride in being an industry leader when it comes to regulatory adherence.

1. Bitbuy is one of the few registered platforms by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA) – Canada’s most senior regulatory entities.
2. With all the claims out there, a lot of platforms are NOT regulated. Make sure that you are dealing with a regulated Canadian platform. The OSC has a published page which is a list of all registered crypto-asset trading platforms in Ontario. As well, the OSC updates its Investor Alerts page regularly with entities operating in Ontario or servicing Ontario clients that do not have registration, which includes unregistered exchanges and some that are fraudulent. For ease of mind, you can review our entire approval document on the OSC website.
3. Being regulated and registered means that we adhere to the highest standard possible when it comes to protecting our clients capital. Regulation requires us to have an insurance protection plan in place, and transparent reporting obligations to the regulators.

Like all Canadian licensed securities brokers and dealers, we have a Financial Insurance Bond (FIB) over all fiat deposits. Under our licenses, Fiat funds are held at a regulated Canadian Financial Institution and these Financial Institutions must also have a Financial Insurance Bond (FIB). Due to regulation, we are also mandated to have 100% coverage for our hot wallets. Our coverage is with Coincover. You can check out our Bitbuy Coincover certificate here.

As for custody, we follow best practices by not holding the majority of our digital assets on our platform. Our digital assets are held with a licensed custodian; Bitgo. In addition to Bitgo insurance, we have also purchased a crime policy that provides additional coverage over our cold storage wallets, above and beyond Bitgo’s coverage, further ensuring our commitment to security and safeguards to our clients capital . Recognizing capital safety is a point of hesitation for many Canadians looking to invest in crypto assets.  This is why we are changing the narrative at Bitbuy.  With all the considerations mentioned in mind, you should only deal with a regulated platform.

‍