Security Compliance
Bitbuy remains one of the safest crypto exchanges for Canadians. Client assets are segregated and held predominantly in insured cold storage with custodian BitGo, protected by mandatory two-factor authentication, and verified through quarterly proof-of-reserves reporting required under CIRO oversight. Bitbuy has operated since 2016 without a hack. The Robinhood acquisition doesn't change these protections, since Robinhood stepped into Canada's existing regulatory structure rather than around it. As always, crypto itself isn't covered by CIPF, so long-term holdings belong in your own wallet.
Coinbase keeps around 98% of customer crypto in cold storage with multi-signature wallets, making theft extremely difficult even if systems are compromised, and backs custodied assets with substantial crime insurance. It undergoes SOC 1 and SOC 2 audits and, as a public company, publishes quarterly audited financials, a level of transparency almost no competitor matches. Note that Coinbase also offers the separate, non-custodial Coinbase Wallet app for self-custody, which is distinct from holding coins on the exchange.
Bitbuy remains one of the safest crypto exchanges for Canadians. Client assets are segregated and held predominantly in insured cold storage with custodian BitGo, protected by mandatory two-factor authentication, and verified through quarterly proof-of-reserves reporting required under CIRO oversight. Bitbuy has operated since 2016 without a hack. The Robinhood acquisition, completed June 1, 2026, doesn't change these protections — Robinhood stepped into Canada's existing regulatory structure rather than around it. Crypto assets aren't covered by CIPF, so long-term holdings belong in your own wallet.
Coinbase keeps around 98% of customer crypto in cold storage with multi-signature wallets, making theft extremely difficult even if systems are compromised, and backs custodied assets with substantial crime insurance covering hundreds of millions. It undergoes SOC 1 and SOC 2 Type II audits and, as a public company, publishes quarterly audited financials — a level of transparency almost no crypto exchange competitor matches. Coinbase has never suffered a major exchange-level hack. Note that Coinbase also offers the separate, non-custodial Coinbase Wallet app for self-custody, which is distinct from holding coins on the exchange.
Both Bitbuy and Coinbase are highly secure exchanges. Both mandate two-factor authentication, hold the vast majority of customer crypto in cold storage, and are subject to regular third-party audits. Coinbase's SOC 2 certification and public-company audit trail give it a slight formal edge; Bitbuy's CIRO-mandated quarterly proof-of-reserves gives it a strong Canadian institutional anchor.
Regulatory Compliance
Bitbuy's regulatory pedigree is among the best in Canada: it was the country's first registered crypto marketplace back in 2021, is registered with FINTRAC, and operates under CIRO oversight through the WonderFi group's registered dealer. In June 2026, Robinhood completed its C$250 million acquisition of WonderFi after CIRO approved the transfer of control, making Bitbuy part of a Nasdaq-listed company while keeping all Canadian registrations in place. The old IIROC Crypto-Asset Working Group reference is obsolete, as IIROC merged into CIRO in 2023.
Coinbase went from unregistered convenience to the most credentialed international platform in Canada: it signed an Enhanced Pre-Registration Undertaking in March 2023, formally launched with Interac rails in August 2023, and became a CSA-registered Restricted Dealer in April 2024, the first international exchange to achieve this. It's registered with FINTRAC as an MSB and authorized in Quebec by the AMF. Canadians can use the platform fully, with the standard restricted dealer caveats: certain altcoin purchase limits and no CIPF coverage on crypto.
Bitbuy's regulatory pedigree is among the best in Canada. It was the country's first registered crypto marketplace in 2021, is registered with FINTRAC, and operates under CIRO oversight through the WonderFi/Robinhood group's registered dealer structure. On June 1, 2026, Robinhood completed its C$250 million acquisition of WonderFi after CIRO approved the transfer of control of Coinsquare Capital Markets on May 20, 2026, bringing Bitbuy under Robinhood's international operations while keeping all Canadian registrations intact.
Coinbase went from unregistered to the most credentialed international platform in Canada: it signed an Enhanced Pre-Registration Undertaking with the CSA in March 2023, formally launched with free Interac rails in August 2023, and became a CSA-registered Restricted Dealer in April 2024 — the first international exchange to achieve this. It's registered with FINTRAC as an MSB and authorized in Quebec by the AMF. Canadians can use the full platform, with the standard restricted dealer caveats: certain altcoin purchase limits and no CIPF coverage on crypto.
Both Bitbuy and Coinbase are registered with FINTRAC and operate under Canadian securities regulation. Both are authorized to serve Canadians in every province and territory, with Bitbuy operating under CIRO oversight through the Robinhood/WonderFi group, and Coinbase operating as a CSA-registered Restricted Dealer working toward full CIRO investment dealer registration.
Customer support
Bitbuy has FAQs and a knowledge centre on its website, with support handled through email tickets. There's no live chat or phone line, and replies can take a while for complex issues, which is a genuine weakness compared to competitors like NDAX or Netcoins that offer real-time channels. Bitbuy account holders should also watch their inbox for Robinhood migration communications and review new terms carefully before accepting them.
Coinbase offers 24/7 support with live chat, a comprehensive help centre and an extensive learning hub. Support quality remains its weak spot: reaching a human who understands Canadian banking specifics can take patience, and our own test took four days to get a real person. For routine issues the automated help works fine, but complex account problems can drag.
Bitbuy has FAQs and a knowledge centre on its website, with support handled through email tickets. There's no live chat or phone line, and replies can take a while for complex issues — a genuine weakness compared to competitors like NDAX or Netcoins that offer real-time channels. Bitbuy account holders should watch their inbox closely for Robinhood migration communications and review any new terms carefully before accepting them.
Coinbase offers 24/7 support with live chat, a comprehensive help centre and an extensive learning hub. Support quality remains its weak spot: reaching a human who understands Canadian banking specifics can take patience, and our own test took four days to get a real person. For routine issues the automated help works fine, but complex account problems can drag. The Coinbase learn centre is genuinely excellent for beginners.
Coinbase's 24/7 live chat is a clear advantage over Bitbuy's email-only model for users who need real-time help. For complex or account-specific issues, however, both platforms have room to improve.
Conclusion
Both Bitbuy and Coinbase are strong, well-regulated options for Canadians, and the right choice depends on what you need.
Bitbuy is the stronger pick for Canadians who want a platform built specifically for the Canadian market, with a decade-long track record, CIRO-supervised custody with BitGo, free Interac deposits and an OTC desk. The Robinhood acquisition brings financial backing and a long-term product roadmap. The near-term trade-off is migration uncertainty — new fees, a new interface and new terms are coming, and users should read those communications carefully before accepting any changes.
Coinbase is the stronger pick for Canadians who want the world's most recognized crypto brand, a polished beginner interface, 200+ coins and the transparency of a publicly traded S&P 500 company. Free Interac deposits have been available since August 2023. Advanced Trade's fees are competitive for volume traders. The main caveats are high simple-interface fees (always use Advanced Trade), inconsistent support, and the strict Interac name-matching requirement that trips up some users.
We recommend Bitbuy for Canadians who want a locally focused, deeply regulated platform, and Coinbase for those who want the world's most recognized exchange with a polished beginner experience. By using our referral links, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Bitbuy nor Coinbase meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
