Bitbuy is committed to transparency and trust in our operations, and have released an annual Proof of Reserve and platform due-diligence report 5 years in a row.
Bitbuy is proud to be only Canadian cryptocurrency exchange to have this distinction.
Bitbuy adheres to the highest standards protecting your capital. Any cryptocurrency held in your Bitbuy account is custodied in hot or cold storage vaults, which you can convert into Canadian dollars at any time.
All custodied cryptocurrency assets are backed 1:1 at all times and over 90% are held in an insured cold storage vault. All cold storage cryptocurrency assets are held with our qualified and insured custodian.
A Proof of Reserves is an independent analysis conducted by an unaffiliated third party which seeks to ensure that a trading platform or custodian holds the assets it claims to on behalf of its clients.
We strongly believe Proof of Reserves are necessary for crypto platforms to build trust with customers, as cryptocurrency poses a unique set of risks. Customers should be confident the platform they are using have their funds on hand at all times, under any circumstances.
Bitbuy is proud to have been the first Canadian platform to publicly issue a Proof of Reserves in 2019, and we are proud to continue to release them yearly.
BitGo is the leader in digital asset security, custody, and liquidity, providing the operational backbone for more than 1500 institutional clients in over 50 countries - a list that includes many regulated entities and the world’s top cryptocurrency exchanges and platforms.
BitGo has robust insurance and consumer protections in place, for more information visit BitGo.com