BitTrust
BitTrust Inc. is a Canadian non-custodial cryptocurrency and foreign currency exchange founded in 2018, operating four physical retail locations across Ontario (Toronto, Mississauga, Thornhill, Hamilton) and serving individual consumers and high-volume OTC clients with in-person exchange services.
- Company typePrivate
- Founded2018
- HeadquartersToronto, Canada
- Headcount—
- GTM typeB2C
- OfferingServices
What BitTrust does
BitTrust Inc. is a privately held Canadian corporation founded in 2018 and headquartered in Mississauga, Ontario. The company operates as a non-custodial cryptocurrency and foreign currency exchange serving individual consumers and high-volume OTC clients in Ontario, with four physical retail locations in Toronto, Mississauga, Thornhill, and Hamilton. BitTrust does not operate an online trading platform or provide custodial wallet services; all transactions are completed in-person with staff support.
The Company's core product set consists of three services: a Crypto Exchange enabling the buying and selling of major digital assets (Bitcoin, Ethereum, USDT, SOL, XRP, ADA, and others) with live market pricing; a Currency Exchange offering competitive rates on foreign currencies including USD, EUR, GBP, CNY, AED, SAR, and several South Asian and Latin American currencies; and an OTC Crypto Desk for transactions over $10,000 that offers preferred pricing, privacy, and same-day settlement. BitTrust monetizes primarily through transaction-based take rates of 3-5% on buys and 1.5-2% on sells, plus competitive spreads on foreign currency transactions. Payment methods scale with verification tier, from cash and debit at the basic level to e-transfer, wire transfers, and large cash transactions at enhanced/OTC levels.
BitTrust generates demand through a mix of local SEO, a cryptocurrency content blog, an active presence on Instagram, TikTok, YouTube, and WhatsApp, and a referral program offering up to 20% commission on referred transactions. The Company holds a FINTRAC Money Services Business registration (MSB Number M21441278), which enables legal fiat-to-crypto operations in Canada and constitutes its primary regulatory moat. No institutional funding, leadership changes, partnerships, or M&A activity are disclosed in the source materials.
BitTrust firmographics
Firmographics- Name
- BitTrust
- Legal name
- BitTrust Inc.
- Website
- https://bittrust.ca
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Short description
- BitTrust Inc. is a Canadian non-custodial cryptocurrency and foreign currency exchange founded in 2018, operating four physical retail locations across Ontario (Toronto, Mississauga, Thornhill, Hamilton) and serving individual consumers and high-volume OTC clients with in-person exchange services.
- Ownership category
- akta.pro rank
BitTrust industry classification
Industry- Product category
- Cryptocurrency Exchange Services
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)
Keywords
Where BitTrust is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices5 records
Markets served
BitTrust business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Cryptocurrency Exchange Transaction Fees: BitTrust charges transaction fees as a percentage of the crypto exchange amount. Buy rates range from 3-5% depending on transaction size, with larger transactions receiving better rates. Sell rates are 1.5-2% depending on volume.
- Foreign Currency Exchange Spread: Revenue generated through competitive exchange rate spreads on foreign currency transactions including USD, EUR, GBP, and other supported currencies.
- OTC Crypto Services: Over-the-counter services for large transactions over $10,000 with preferred pricing, personalized support, and same-day settlement. Generates revenue through transaction fees and favorable rate spreads on high-volume trades.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Basic tier for smaller transactions under $999 |
| Transaction based/ take rate | Pay-as-you-go | Standard tier for transactions $1,000-$9,999 |
| Transaction based/ take rate | Pay-as-you-go | Preferred/OTC tier for transactions $10,000+ |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
BitTrust product offering
Product offeringCore offering
BitTrust is a Canadian money services business that enables customers to buy and sell major cryptocurrencies (Bitcoin, Ethereum, USDT, and others) and exchange foreign currencies (USD, EUR, GBP, CNY, etc.) in-person at four retail locations across Ontario. The company operates on a non-custodial basis, executing transactions face-to-face with staff support and does not maintain an online trading platform or hold customer funds in custody.
Product overview
BitTrust operates as a Canadian crypto and currency exchange with four physical branch locations in Ontario (Toronto, Mississauga, Thornhill, and Hamilton), providing in-person exchange services rather than an online platform. The product portfolio consists of three core services: Crypto Exchange for buying and selling major cryptocurrencies (BTC, ETH, USDT, SOL, XRP, ADA, and others); Currency Exchange for exchanging foreign currencies (USD, EUR, GBP, CNY, and multiple other international currencies); and an OTC Crypto Desk for large-volume transactions over $10,000 with preferred pricing and dedicated support. The company also offers a Referral Program allowing customers to earn commission on referred transactions. BitTrust operates on a non-custodial basis and does not provide custodial wallet services or hold customer funds outside transaction execution.
Differentiator
Problem solved
Functional benefit
Products and services
- Crypto Exchange In-person cryptocurrency exchange service enabling customers to buy and sell major digital assets including Bitcoin, Ethereum, USDT, and other cryptocurrencies with secure transactions and live market pricing, supported by cash, e-transfer, and wire payment options.
- Currency Exchange Foreign currency exchange service providing competitive exchange rates for multiple international currencies including USD, EUR, GBP, CNY, AED, SAR, PKR, INR, PHP, MXN, and others for travel, business, and international transfers.
- OTC Crypto Desk Over-the-counter cryptocurrency trading service designed for high-volume transactions over $10,000, offering personalized rates (3% preferred buy / 1.5% preferred sell), private transactions, dedicated support, and same-day settlement.
- Referral Program Customer referral program allowing participants to earn up to 20% commission on rewards when referred customers complete eligible cryptocurrency transactions, subject to eligibility, verification, and program terms.
Quantifiable outcome
- Same-day transaction processing for most eligible transactions
- +1 more outcomes
Companies that use BitTrust
Customer profileSegments3 records
Ideal customer profiles3 records
BitTrust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
BitTrust partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
BitTrust competitors and assessment
Company assessmentRegional players
- Calforex: Canadian currency exchange retailer historically dominant in Western Canada. Comparable physical-store FX service competing for the same walk-in foreign currency customer.
- Travelex: Global foreign currency exchange provider with Canadian retail locations. Directly comparable physical-store FX service overlapping BitTrust's currency exchange business in major Canadian cities.
Direct peers
- NDAX (National Digital Asset Exchange): Canadian-registered crypto exchange serving retail and institutional clients with CAD on/off-ramps. Directly comparable as a FINTRAC-registered Canadian venue offering spot crypto trading.
- Localcoin: Canadian crypto exchange with physical retail locations and Bitcoin ATMs across Canada. Directly comparable in-person fiat-to-crypto on/off-ramp model serving similar GTA-area customer segments.
- Bitcoin Well: Publicly traded Canadian crypto exchange operating both online and through physical locations/ATMs. Comparable in offering non-custodial crypto buy/sell with retail touchpoints and FINTRAC registration.
- Netcoins: Canadian crypto trading platform with online and over-the-counter services. Directly comparable on FINTRAC-registered Canadian crypto exchange offering OTC desk for larger transactions.
Emerging players
- Shakepay: Canadian crypto app focused on Bitcoin and Ethereum purchases for retail users with strong digital UX. Comparable on target customer (Canadian retail crypto buyers) but competes via online-first delivery rather than physical.
- Bull Bitcoin: Canadian Bitcoin-only exchange and OTC desk focused on non-custodial, registered MSB operations. Comparable on regulatory positioning and Canadian BTC buy/sell service, overlapping GTA customer base.
Broad incumbents
- Binance: Global crypto exchange with the deepest liquidity and lowest retail fees. Competes with BitTrust on retail crypto buy/sell but is online-only and excluded from Canada under current regulatory action.
- Coinbase: Largest US-listed crypto exchange offering retail trading, staking, custody, and cards. Overlaps with BitTrust on fiat-to-crypto on/off-ramp for retail customers but with vastly broader product breadth.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
BitTrust social profiles
Digital presenceBitTrust compliance and trust
Trust signalCompliance1 record
BitTrust financial estimates
Financial estimateRevenue estimate
Valuation estimate
BitTrust leadership team
Management profileNumber of profiles
BitTrust funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BitTrust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about BitTrust
What does BitTrust do?
BitTrust is a Canadian money services business that enables customers to buy and sell major cryptocurrencies (Bitcoin, Ethereum, USDT, and others) and exchange foreign currencies (USD, EUR, GBP, CNY, etc.) in-person at four retail locations across Ontario. The company operates on a non-custodial basis, executing transactions face-to-face with staff support and does not maintain an online trading platform or hold customer funds in custody.
Is BitTrust a public or private company?
BitTrust is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was BitTrust founded?
BitTrust was founded in 2018.
Where is BitTrust based?
BitTrust is headquartered in Toronto, Canada, in the North America region.
How does BitTrust make money?
Three revenue lines are on record. Cryptocurrency Exchange Transaction Fees are the primary driver. The others are foreign Currency Exchange Spread and OTC Crypto Services.
Who are BitTrust's main competitors?
Regional players on record are Calforex and Travelex. Direct peers are NDAX (National Digital Asset Exchange), Localcoin, Bitcoin Well and Netcoins. Emerging players are Shakepay and Bull Bitcoin. Broad incumbents are Binance and Coinbase.
Does BitTrust have an API?
No public API is recorded for BitTrust.
What industry is BitTrust in?
BitTrust's product category is Cryptocurrency Exchange Services. Its primary akta.pro industry code is FSADAIAE, On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks. Its SIC code is 6200.