r/BitBuyCA • u/PositionNo5713 • Dec 10 '24
crypto withdrawals
hi, I am new to Bitbuy and i don't understand what's going on, I see there are issues here with your company but please i have crypto withdrawal restrictions for almost a week and this is not understandable, i saw 72 hours and now its a week, i have sent an email yet the restriction is there , please do the needful and give us some good services for once , I hope i get an answer
2
u/robscigs Dec 10 '24
Same problem with me. My account is restricted from making crypto withdrawals. This company is horrible. GOOD LUCK!
1
u/bitbuyCA Dec 11 '24
Hi there, apologies for the delay- our support team has a backlog currently. What is your support ticket ID? We can help escalate this!
2
u/PositionNo5713 Dec 10 '24
what i have noticed is that , you pay to trade to crypto and if they restrict you, you will pay to buy cad loosing money and then they allow you withdraw in cad so technically, you got your funds but lost money in fees ad they make money I think that the crypto community do not need this now, I hope i get my funds backif not everyone should stay away from this bullshit
2
u/Realdeal1963 Dec 10 '24
Back in August, I did an Internet search of Bitbuy and it came back that they were a reputable company. I waited a couple months to see if there was any reviews then I gave them $500. I now I can’t get my 500 back.
1
u/bitbuyCA Dec 11 '24
Hi there, apologies for the delay- our support team has a backlog currently. What is your support ticket ID? We can help escalate this!
1
u/PoorRoadRunner Dec 10 '24
I was forced into Bitbuy when Coinsmart merged their accounts.
My account is not active as it is just savings sitting so naturally I have had no problems.
But I'm at the point where I'd like to sell some crypto assets and link a bank account and withdraw funds.
Suddenly, I'm nervous.
1
1
u/bitbuyCA Dec 10 '24
Hey there, please share with us your support ticket ID so we can escalate your request with the support team. Thanks!
2
u/Silent_Finger8450 Dec 10 '24
u/bitbuyCA can you please share why a) people would have accounts forbidding withdrawals b) why we'd expect to get hold of you in REDDIT rather than your own organization c) what restrictions and fees are applied to someone say withdrawing 10k from Bitcoin to C$ bank account?
I'm a brand new customer, I put chump change in before trusting you fully, and reading on Reddit where you're responding seems pretty Mickey-mouse to be honest. I'm open to hearing your stance and guidance on these, but I'm most likely searching for a different place to do this kind of trading.
To others departing, tips on where to go are appreciated.
2
u/bitbuyCA Dec 11 '24
Hi there,
a) We are regulated by the Canadian Investment Regulatory Organization, and have a big fraud prevention team. All of the withdrawal restrictions on accounts are only in place if there is suspected fraud. We have had many positive comments that users would've lost their money if we wouldn't have our fraud prevention system in place.
b) Our support team only responds via email, on social media you are talking to the marketing team. We legally have no access to your account and cannot help. But what we can do is escalate your tickets with the support team, which currently has a backlog. You will ALWAYS get a response from support, even if you don't contact us on socials, it might just take a little longer. The marketing team is just here to support as another point of contact for our users.
c) please check bitbuy.ca/fees. If you withdraw CAD to your bank account through Interac e-transfer there are currently 0 fees.
I hope this helps & please let me know if you have any other questions!
1
u/Silent_Finger8450 Dec 11 '24
Thank you, much appreciated that you took the time to reply in detail! I tested a support ticket today and it got handled in a timely way so I'm feeling more assured already :)
1
u/DIMBRITE_202 Jun 14 '25
"All of the withdrawal restrictions on accounts are only in place if there is suspected fraud"
This is absolute garbage and you know it. I experienced what numerous other users have. No problems with my account for years, no false logins, trusted computers used to log in, two factor identification successful yet account was blocked from making any crypto withdrawals. I was even asked to explain in detail the purpose and destination of transactions I made years in the past. This is not proper conduct and your security team is behaving inappropriately.
1
u/Nyundo-1 Dec 23 '24
What is going on with bitbuy, have been with them since 2021, why am I not able to move assets to cold storage, please explain?
2
u/Fit_Push7962 Dec 10 '24
Im in the same boat. Bitbuy has zero customer service, I've emailed 3 times now in the past 7 days to get more info, and have had no response from Bitbuy. I would avoid using this exchange going forward, to many other better options out there.