Comparison of Poloniex vs Bitbuy [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Poloniex vs Bitbuy comparison!

Your expert: Alejandro Borja

Poloniex

Your expert: Xavier Tarrasó

Bitbuy

Main points

Fees

≤0,25%

Earns

Customer service

4/5

0.20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

3.7 – Reasonable fees but slightly higher for fiat transactions.

Level

≤0,25%

0.20%

Brief explanation

Poloniex maintains a straightforward and competitive fee structure that benefits a wide range of traders. The exchange primarily operates on a maker-taker fee model, with fees varying depending on the user’s 30-day trading volume. Generally, maker fees start at 0.145% and can go as low as 0.00%, while taker fees start at 0.155% and decrease to 0.10% for high-volume traders. This tiered approach incentivizes frequent trading and offers cost-effective options for active users. Additionally, there are no fees for cryptocurrency deposits, although withdrawal fees vary by cryptocurrency and are adjusted based on network conditions to ensure transactions are processed swiftly.

Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.

Poloniex

Security methods: Poloniex employs robust security protocols including cold storage for funds, two-factor authentication, and encryption, ensuring a secure trading environment for its users.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Customer service: Poloniex offers comprehensive customer support with a detailed FAQ section, a ticketing system, and a chatbot to help users resolve issues quickly and effectively. This ensures that users receive the assistance they need in a timely manner.
Transparency: Poloniex provides transparent trading practices and clear fee structures, making it easy for users to understand exactly what they are paying and why. This level of transparency builds trust among users and is a significant factor in choosing Poloniex as a trading platform.

Bitbuy

Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Polo Digital Assets, Ltd.

First Ledger Corporation

Regulation

Not regulated

Regulated by FINTRAC en Canadá

Year founded

2014

2016

Founder

Tristan D’Agosta

Adam Goldman

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Poloniex	FEATURES	Bitbuy
Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.	Minimum Trade	The minimum trade amount is reasonably low, making it accessible for beginners.
Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.	Trading and Transaction Fees	Fees are relatively high compared to competitors, which could deter frequent traders.
Offers a broad range of cryptocurrencies, although not as extensive as some larger exchanges.	Number of Cryptocurrencies	Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Provides a wide variety of trading pairs, allowing for versatile trading strategies but could expand to include more rare or emerging tokens.	Crypto-to-Crypto Trading Pairs	Limited to major cryptocurrencies, lacking diversity in trading pairs.
While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.	Website Transparency	The website provides clear, easily accessible information on fees, policies, and trading options.
Poloniex does not offer an exchange card for in-store purchases.	Credit/Debit Card	Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Offers secure storage options, but lacks some advanced features like insured custodial services.	Storage Offering	Provides secure cold storage options, ensuring safety for digital assets.
Offers some staking options, but the rewards and variety are not as competitive as other leading exchanges.	Staking and Rewards	Offers some staking options and rewards, though not as extensive as some other platforms.
Both the mobile app and desktop platform are user-friendly and reliable, though some users may find them less feature-rich compared to those of top competitors.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed.
Customer service is available, but response times and the quality of support have room for improvement.	Customer Service	Excellent customer service with quick response times and helpful support staff.
Deposits and withdrawals are handled efficiently, though primarily limited to cryptocurrencies which might limit accessibility for some users.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though some limitations apply to methods and currencies.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, staking, Poloniex Earn, Poloniex API

OTC trading, express trade option, institutional services, cold storage solutions

Anonymity

Yes

Key points

Available cryptocurrencies

100+

15+

User-friendliness

Poloniex provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.

Value for money

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Canada

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.

Base currencies available

USD, USDT, BTC

CAD, BTC

Account

Trading

Poloniex offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has faced some security and regulatory challenges in the past.

Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.

Deposit and withdrawal

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.

Account opening process

Poloniex provides a seamless account opening process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.

KYC required?

Yes

Customer Service

Poloniex provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Bitbuy offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a drawback for some users.

Security

Poloniex offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.

Which of these exchanges is for you?

Alejandro Borja

As a seasoned expert on our website and an enthusiastic follower of cryptocurrency trends, I’ve consistently found Poloniex to be a solid choice for those venturing into the world of crypto trading. Its user-friendly interface and competitive trading fees make it especially appealing to newcomers and experienced traders alike. Whether you’re looking to dip your toes into crypto or expand your trading portfolio, Poloniex offers a reliable and efficient platform to meet your needs. I highly recommend giving it a try for a straightforward and cost-effective trading experience.

Xavier Tarrasó

As an expert on our website, I highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Poloniex vs Bitbuy [ 2024 ]

Poloniex

Bitbuy

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Poloniex

Bitbuy

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Poloniex and Bitbuy