Bitbuy vs bitFlyer USA

How Bitbuy vs bitFlyer USA compare on our ratings, exchange specs, funding, pros and cons.

Bitbuy4.0/5
VS
Feature
Ratings
Our score4.0/53.4/5
User ratingNo reviews yetNo reviews yet
Fees3.54.0
Security & trust4.53.5
Asset selection3.53.0
Ease of use4.03.5
Support4.03.0
Specs
MarketsSpot, OTCSpot, OTC
Maker feeNot disclosed0.1%
Taker feeNot disclosed0.1%
Coins listed45Not disclosed
Fiat deposit methodsBank transferNot disclosed
KYC required Yes Yes
Accepts US customers No Yes
Proof of reservesNot disclosed No
Staking / earn YesNot disclosed
Mobile app Yes Yes
Licenses & registrationsOSC Marketplace & Restricted Dealer, CSA Marketplace & Restricted Dealer, CIRO Member Dealer, FINTRAC MSBNew York BitLicense, FinCEN MSB, US Money Transmitter Licenses (49 states)
Security featuresCold Storage, Custodial Insurance, CIPF Protection100% cold storage, Multi-signature custody, 2FA
Futures & perpetuals No No
Copy trading No No
P2P market No No
Earn / savings products YesNot disclosed
User protection fund YesNot disclosed
Referral program YesNot disclosed
Company
Founded20162017
HeadquartersCanadaUnited States
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • Operates under CIRO member dealer status registered with the OSC and CSA
  • Cash balances covered up to $1M CAD per account by CIPF
  • Digital assets stored 1:1 in cold storage with insured custodians
  • Instant CAD deposits and withdrawals supported through Interac e-Transfer
  • Holds a New York BitLicense and regulatory licenses in 49 states
  • 0.10% entry spot fee on the Lightning book
  • Lightning terminal offers advanced orders like icebergs and trailing stops
  • Multi-signature cold storage for digital asset deposits
Cons
  • Services are restricted entirely to residents of Canada
  • Mandatory identity verification (KYC) required before any trading
  • No derivatives, perpetuals, or margin trading available
  • Fined $1.2M by NYDFS in May 2023 for cybersecurity deficiencies
  • No public real-time cryptographic proof of reserves
  • Unavailable to residents of Hawaii
  • Mandatory KYC identity verification for all accounts
Best forCanadian retail crypto buyers, Canadian high-net-worth OTC traders, Businesses holding crypto balance sheetsUS traders requiring licensed exchanges, Active algorithmic spot traders, New York crypto investors

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