Bitbuy alternative for USDT, a token it does not support
Bitbuy does not support USDT at all. As a Bitbuy alternative, Unigox takes USDT sent on Tron, Solana, TON or an EVM chain and a buyer pays your bank for it. For bitcoin, staking or OTC trades, stay with Bitbuy.
When to stay with Bitbuy
You stake coins for rewards
Bitbuy stakes nine coins, Ethereum, Solana and Cosmos among them. It keeps 25% to 30% of the rewards as commission, and the rates it posts are already net of that. On Unigox you trade stablecoins only, and nothing is staked.
You trade $20,000 or more at a time
Bitbuy Alpha, its OTC desk, quotes trades from $50,000 in bitcoin or ether and from $20,000 in other coins. It settles in CAD or USD, gives you an account manager and cuts the fees on wires.
You hold USDC on Ethereum
Bitbuy takes USDC on the ERC-20 network and buys it from you for Canadian dollars at its own quote, with the spread in the price and no trading fee. On Unigox the buyer sets the rate, with the Unigox fee inside, so compare both on the same day.
Bitbuy and Unigox when the money arrives as USDT
| Topic | Bitbuy | Unigox |
|---|---|---|
| What it is | A Canadian crypto platform, part of Robinhood. Express Trade buys and sells coins for Canadian dollars at a quoted price. Its operator, Coinsquare Capital Markets Ltd., also runs Coinsquare, with separate accounts. | A marketplace that trades stablecoins only: P2P merchants and payment businesses pay local money for them, and sell them where a currency allows. |
| USDT | Not supported. Bitbuy's help centre names USDT among the ERC-20 tokens it does not take. It cannot promise to recover such a deposit, and a recovery that works costs the greater of $100 or 5% of the funds. | Accepted, and kept as USDT in your Unigox Wallet; nothing is converted until you start a sale. You can move USDT or USDC between Unigox and an outside wallet before or after a trade. |
| Networks | Every ERC-20 token, USDC included, comes in on Ethereum only. Deposits on BEP2 or BEP-20 are not supported, and Bitbuy says it cannot recover them. | TON, Tron, Solana or an EVM chain the sell form lists. Pick the network first, and the form gives the deposit address for it. |
| Money to your bank | Only after a sale for CAD:
| Whoever buys your USDT, a P2P merchant or a payment business, pays the bank account you entered. During a trade the crypto sits in an on-chain escrow that Unigox can release only to the buyer or the seller. |
| Fees | Express Trade charges no trading fee; a spread sits in each quote instead. Pro trade costs 0.50% for makers and takers, or 0% and 0.10% in the $5 million+ tier. Crypto comes in free. CAD goes out free by e-Transfer and for 1.5% by EFT or wire. | One rate for your amount, set by the buyer, with the Unigox fee already in it and shown before you accept. |
| Regulation | Bitbuy is a trade name of Coinsquare Capital Markets Ltd., a CIRO dealer member. It is registered with the OSC and the CSA as a crypto asset trading platform and with FINTRAC as a money services business. CIPF covers cash balances, not crypto. | Unigox works through two companies: UNIGOX NETWORK CORP. in Canada handles the local-money side and is registered with FINTRAC as a money services business and with the Bank of Canada as a payment service provider; UNIGOX NETWORK CORP. in Panama handles the crypto side, including wallets and escrow. |
UnigoxThree steps from Bitbuy to a USDT sale on Unigox
Verify your ID before the first sale
Sign up and verify your identity. Unigox asks for it before the first trade, whatever its size.
Send USDT to Unigox, not to Bitbuy
Copy your Unigox deposit address on a network the sell form lists and use it wherever your USDT is paid or held. Do not use your Bitbuy Ethereum address: Bitbuy does not support USDT.
Accept a rate and name the bank to pay
Choose the currency, enter your bank account and accept the rate. On a P2P sale the USDT stays in escrow until you confirm the payment reached you.
Bitbuy, USDT and switching: questions
What is a Bitbuy alternative for USDT?
Unigox, if you hold USDT or are paid in it. Bitbuy does not support the token, so it cannot sell it for you. On Unigox you send USDT in on Tron, TON, Solana or an EVM chain and sell it to a buyer who pays your bank. For bitcoin, ether, staking or desk trades, Bitbuy is still the better fit.
Bitbuy fees: what do trades and withdrawals cost?
Express Trade has no trading fee; Bitbuy prices a spread into each quote. Pro trade costs 0.50% per side, or 0% for makers and 0.10% for takers in the $5 million+ tier. Crypto deposits are free. Crypto withdrawals are free on some coins; on others a fee set by network conditions shows before you confirm. Canadian dollars go out free by e-Transfer, up to $2,000 once a day, or for 1.5% by EFT or wire.
Who runs Bitbuy, and is it regulated?
Bitbuy is a trade name of Coinsquare Capital Markets Ltd. (CCML), part of WonderFi, which Robinhood now owns. CCML is a CIRO dealer member, registered with the OSC and the CSA as a crypto asset trading platform and with FINTRAC as a money services business. If CCML became insolvent, CIPF would cover cash balances, generally up to $1 million across general accounts, but not crypto.
Would moving from Bitbuy to Coinsquare help with USDT?
No. The same dealer, Coinsquare Capital Markets, runs both, and Coinsquare's help centre also lists USDT as a token it does not support. Bitbuy says accounts on the two stay separate, but neither takes USDT.
Read the Coinsquare comparisonPrice your USDT in the sell form
Enter your amount in the sell form. It shows the rate a buyer offers, with the Unigox fee in it, before you accept. If you also hold USDC on Ethereum, check Bitbuy's Express Trade quote for it on the same day.
Bitbuy and other names and logos are trademarks of their respective owners. Unigox is not affiliated with, endorsed or sponsored by them. Information about other companies comes from public sources, mainly the companies' own websites, and each company can change its products and fees at any time.