Bitbuy Review: Fees, Safety And Robinhood Ownership

Bitbuy At A Glance

What Changed: Robinhood Owns Bitbuy

Robinhood announced its deal for WonderFi in May 2025 and closed it on June 1, 2026, about a year later than first expected, after approval from CIRO, Canada's investment industry regulator, according to The Block. Reports put the price at about US$180 million, or C$250 million. WonderFi's shares were delisted from the Toronto Stock Exchange in early June 2026.

Robinhood says WonderFi brought about 300,000 funded customers and that Bitbuy and Coinsquare will become part of the Robinhood brand. It's inviting Canadian users to its own app, which charges a flat 0.5% on crypto trades in Canadian dollars. Bitbuy's website says it's "now part of Robinhood" and links to both the Bitbuy app and the Robinhood app, but neither company has announced a deadline for Bitbuy customers to move. If you have a Bitbuy account, watch your email for transfer instructions rather than acting on texts or social media messages.

Bitbuy Fees

Bitbuy's fee page, last updated July 22, 2026, lists these charges:

On a C$1,000 Pro Trade at the standard tier, the fee is C$5. That's lower than Kraken Pro's 0.80% entry-tier taker fee and higher than the roughly 0.1% our collector measured on Crypto.com. Bitbuy doesn't publish its Express Trade spread, so check the Pro Trade price before using Express for a large buy.

The 1.5% fee on bank and wire withdrawals is steep: taking C$10,000 out by wire costs C$150. Interac e-Transfer withdrawals are free but capped at C$2,000 a day, so a large withdrawal takes several days or costs 1.5%.

Crypto Withdrawal Fees

Bitbuy charges no withdrawal fee on XRP, Litecoin, Stellar, Avalanche, Hedera, Algorand and a few other coins. Bitcoin, Ethereum, USDC, Dogecoin and most other tokens carry a variable network-based fee shown before you confirm. Some coins, including TIA, ARB and INJ, are trade-only and can't be withdrawn.

Where Bitbuy Is Available

Bitbuy serves Canadian residents only. It says it's registered with the Ontario Securities Commission and the Canadian Securities Administrators as a crypto asset trading platform, operates under Coinsquare Capital Markets Ltd., a member of the Canadian Investment Regulatory Organization (CIRO), and is registered with FINTRAC as a money services business.

Readers outside Canada can compare Kraken, Crypto.com and Coinbase, which all serve Canada and several other countries.

Is Bitbuy Safe?

Bitbuy has no hack or withdrawal freeze on our crypto hacks tracker and no penalties on our crypto fines and penalties tracker. As a registered Canadian platform, it must follow rules on holding customer assets that offshore exchanges don't. Bitbuy says it holds customer crypto 1-to-1 in cold storage with licensed custodians that carry a combined US$680 million in insurance. That's the custodians' policy, not insurance on your individual balance.

Robinhood is a US public company that files audited financial statements, and Bitbuy is now part of that group. That adds a large, regulated owner. Bitbuy says cash in your account is covered by the Canadian Investor Protection Fund up to C$1 million per account, but crypto isn't covered by CIPF or deposit insurance.

What Bitbuy Offers

• Express Trade: simple buying and selling with the cost built into the quote.
• Pro Trade: an order book with limit orders and lower fees for higher volumes.
• Staking: rewards on coins such as Ethereum, Solana and Cardano, with Bitbuy keeping a 25% to 30% commission. On Bitbuy's July 2026 page, net rates ranged from 1.2% on ADA to 13.43% on ATOM. Learn how staking works.
• Interac funding: fast Canadian-dollar deposits.

Pros And Cons

Pros

• Built for Canadians, with free Interac e-Transfer deposits
• Registered Canadian platform, now owned by Robinhood
• Free withdrawals on a dozen coins, including XRP and Litecoin
• No hack on our tracker

Cons

• Canada only
• 1.5% fee on bank and wire withdrawals
• Pro Trade's 0.50% standard fee is higher than the cheapest global exchanges
• Uncertain future as Robinhood brings Canadians into its own app

Who Bitbuy Is Best For

Bitbuy fits Canadians who want to fund in Canadian dollars with Interac and buy major coins on a registered domestic platform. Large traders may pay less elsewhere, and anyone opening a new account should know Robinhood may move customers to its own app.

Cult Of Money Exchange Score

Bitbuy doesn't have a Cult of Money Exchange Score yet. Our score weights measured cost at 25%, and our price collector doesn't read Bitbuy's prices, so we can't rate it on the same basis as the exchanges in our crypto exchange rankings. We'll add Bitbuy once we can measure it. See how we score exchanges.

Open a Bitbuy account (Canadian residents)

Bitbuy Alternatives In Canada

Costs were measured in US dollars.

What To Watch Out For

• Withdrawal costs: the 1.5% bank and wire withdrawal fee, and the C$2,000 daily Interac cap.
• Express pricing: the spread isn't published. Compare with Pro Trade.
• Migration messages: fake "Robinhood migration" texts and emails are an easy scam. Log in through the official app.
• Staking commission: Bitbuy keeps 25% to 30% of rewards.
• Taxes: the Canada Revenue Agency taxes crypto gains and staking income. Keep records of every trade.

FAQ

Who Owns Bitbuy?

Robinhood owns Bitbuy. It bought Bitbuy's parent company, WonderFi, and closed the deal on June 1, 2026. Bitbuy still operates under its own name.

What Are Bitbuy's Fees?

Express Trade has no separate trading fee, with a spread built into the price. Pro Trade charges 0.50% for makers and takers at the standard tier. Interac deposits and withdrawals are free, while bank and wire withdrawals cost 1.5%.

Is Bitbuy Safe?

Bitbuy has no hacks or penalties on our trackers and operates as a registered Canadian platform owned by a US public company. It keeps customer crypto in cold storage with licensed custodians, but crypto isn't covered by CIPF or deposit insurance, so keep long-term holdings in a wallet you control.

Is Bitbuy Available Outside Canada?

No. Bitbuy serves Canadian residents only.

Will Bitbuy Become Robinhood?

Robinhood says Bitbuy will become part of the Robinhood brand and is inviting Canadian customers to its own app, but it hasn't published a deadline for Bitbuy accounts. Watch for official emails from Bitbuy or Robinhood.