Bitbuy is one of the safest crypto exchanges for Canadians. The Blockchain Intelligence Group has completed its third annual proof of reserves and due diligence report confirming that Bitbuy exceeds its mandate requiring 95% of customer funds to be held in cold storage. Bitbuy keeps 98% of Bitcoin, Litecoin, and Ethereum funds in cold storage, which is one of the highest percentages we’ve seen.
As a public company Bitcoin Well has a duty to be transparent with its investors and adhere to all Canadian regulations. Additionally, since you always take full custody of your bitcoin, you do not need to worry too much about the security measures of the platform, since you hold your bitcoin yourself.
Bitbuy sets a high bar with 97% of its assets in cold storage—surpassing the industry standard. Their dedication to transparency is evidenced by their open disclosure of surpassing cold storage policies in the recent Proof of Reserves Audit. In addition to multi-factor authentication, Bitbuy boasts a 1:1 Bitcoin insurance policy and is duly regulated by FINTRAC.
Emphasizing digital security, Bitcoin Well integrates advanced measures including multi-factor authentication and cold storage solutions. The platform's devotion to safeguarding users' data and funds is unwavering, ensuring a secure trading environment.
Bitbuy is an industry leader in Canadian regulatory adherence and compliance. In addition to being a Virtual Asset Service Provider and registered Money Service Business with FINTRAC, Bitbuy’s leadership team is a member of the IIROC Crypto-Asset Working Group, which helps to set high-quality regulatory standards and strengthen Canadian markets.
Bitcoin Well is registered with FINTRAC and fully legal in Canada.
As a Canadian-centric platform, Bitbuy is fully regulated as a Money Service Business by FINTRAC, ensuring transactions are compliant with national regulations.
Bitcoin Well operates within the legal parameters set by Canadian authorities, providing a platform where users can trade confidently, abiding by the nation's regulatory standards.
Binance has FAQs and a knowledge centre on their website. They make it easy to submit a support ticket but the reply might take a while.
Bitcoin Well aims to provide great customer service and although it only has five reviews on Trustpilot, it has a 4.1-star rating, which is good. If you need support, you can browse the many help sections on their website, open a support ticket online, or even call or text their team. Most crypto exchanges do not offer a support phone number so this is a big plus.
Bitbuy offers a thorough support page, aiding users with common concerns. Their email support system provides quick (although sometimes automated) responses, aiding in user queries. Reviews indicate most users find Bitbuy’s support satisfactory.
Recognizing the essence of customer service, Bitcoin Well provides top-tier assistance. Their support team, acclaimed for its expertise and swift response times, caters to a myriad of user inquiries, from transaction issues to general crypto questions.
While both Bitbuy
and Bitcoin Well
stand out as reputable crypto exchanges in Canada, catering to different user preferences, Bitbuy seems to edge out slightly due to its broader cryptocurrency portfolio and transparent security measures. Despite Bitcoin Well’s robust platform and impeccable support system, Bitbuy’s exclusive features like the 1:1 Bitcoin insurance policy and a vast array of coin offerings make it a more versatile option for Canadians in 2024.
We recommend choosing Bitbuy over Bitcoin Well for your cryptocurrency trading needs. By opting for Bitbuy through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Bitbuy nor Bitcoin Well meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.