Practical, secure, and regulation-aware guidance for Canadian businesses using Bitbuy to accept, hold, or move cryptocurrency.
Bitbuy provides tailored corporate accounts—marketed as "corporate solutions"—that let companies add crypto to their balance sheet, trade with larger block sizes, and access over-the-counter (OTC) liquidity and corporate onboarding support. :contentReference[oaicite:0]{index=0}
Businesses often pick local Canadian exchanges for regulatory clarity, faster fiat rails (Interac / bank wires), and corporate KYC/AML support when compared to overseas alternatives. Bitbuy emphasizes compliance with Canadian rules and specialized corporate onboarding. :contentReference[oaicite:1]{index=1}
Bitbuy enforces multi-factor authentication for account access and transaction confirmations; they also encourage authenticator apps (Authy, Microsoft Authenticator) for stronger protection than SMS-based 2FA. :contentReference[oaicite:2]{index=2}
1) Start the corporate application on Bitbuy’s corporate page or contact corporate@bitbuy.ca to speak to a dedicated account manager. 2) Supply corporate documents: articles of incorporation, director/beneficial owner IDs, corporate bank statements, and proof of address. 3) Complete enhanced KYC/AML screening (required under FINTRAC). 4) Once verified, discuss treasury sizing, custody, and OTC liquidity needs. :contentReference[oaicite:3]{index=3}
Corporate customers are often routed to OTC desks for large buys; Bitbuy’s corporate guidance notes that corporate treasury purchases typically start at material amounts (their guide references suggested paths including larger funding and OTC engagement). Bank transfers (Interac e-transfer for retail, wires for higher amounts) are supported as primary fiat rails. :contentReference[oaicite:4]{index=4}
Bitbuy often generates quoted prices using a spread (Express trades) and publishes its fee schedule publicly; corporate or OTC pricing will differ from retail express fees—large trades usually get bespoke pricing. For transparent retail pricing see their fees page. :contentReference[oaicite:5]{index=5}
This section walks through a realistic scenario: your small business wants to accept crypto payments, keep a portion on the balance sheet, and occasionally convert to CAD. The flow below focuses on security, compliance, and auditability—three non-negotiable pillars for corporate finance teams.
Create a corporate account and complete AML/KYC (corporate documents, beneficial ownership, proof of funds). Assign roles: primary signer, finance approver, and view-only auditors where possible. Do not share personal logins; use corporate credentials and legal signatories. Bitbuy offers corporate onboarding channels and account managers to walk teams through this process. :contentReference[oaicite:6]{index=6}
Every team member with transactional rights should enable an authenticator app. For critical signers, enable hardware security keys or require multiple approvers for large withdrawals. Bitbuy enforces two-step verification for accounts and transactions—this protects treasury operations from credential compromises. :contentReference[oaicite:7]{index=7}
When receiving crypto payments, use a controlled deposit address policy: generate unique deposit addresses per invoice or counterparty, and maintain an internal mapping (invoice → on-chain address → accounting entry). This improves reconciliation and helps auditors trace funds. After arrivals, funds can be left on-exchange (if using custodial solutions) or swept to cold custody depending on policy.
Decide a treasury policy: e.g., keep X% of revenue in crypto for business objectives, convert the rest to CAD. For large conversions use OTC to avoid price slippage; Bitbuy’s corporate channels support OTC trades and bespoke liquidity for larger orders. :contentReference[oaicite:8]{index=8}
Bringing crypto into corporate books requires clear policies and controls. This side of the page is a checklist you can adapt.
As an MSB under Canadian rules, Bitbuy follows FINTRAC compliance; businesses must provide verifiable documentation and respond to transaction monitoring requests. Keep transaction narratives, counterparty details, and invoices handy for audits. :contentReference[oaicite:9]{index=9}
Maintain clear ledgers: record the CAD value at the time of each transaction, track gains/losses on disposal, and prepare supporting documents for auditors and tax filings. Bitbuy provides transaction history exports to help with bookkeeping and tax reporting. :contentReference[oaicite:10]{index=10}
Q: Can I open a corporate account as an LLP or Trust?
A: Bitbuy’s corporate onboarding covers diverse entity types—expect to provide entity documentation and beneficial ownership details during KYC. Contact corporate support for entity-specific requirements. :contentReference[oaicite:11]{index=11}
Q: Are deposits insured?
A: Bitbuy details custody and insurance arrangements publicly; check the current custody & insurance disclosures on their site or with your account manager for specifics on insured coverage and proof-of-reserve practices. :contentReference[oaicite:12]{index=12}
Canadian businesses benefit from local fiat rails, FINTRAC-aligned processes, and a corporate onboarding team—useful when treasury teams require audited, regulated counterparties. :contentReference[oaicite:13]{index=13}
Retail spreads and express trades differ from OTC pricing. Large corporate flows should be discussed with Bitbuy’s corporate desk to negotiate appropriate execution and custody terms. :contentReference[oaicite:14]{index=14}