Bitbuy Vs Coinfield: Which Is Better For Canadians In 2026?

How Do Bitbuy And Coinfield Compare, Fact By Fact?

Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.

What Are The Key Differences Between Bitbuy And Coinfield?

How Do You Fund And Cash Out Bitbuy And Coinfield In Canada?

Funding for the live platform is now on Robinhood. Bitbuy-specific limits are Not published. Platform closed in 2023. Never send funds to a site using the CoinField name.

What Do Bitbuy And Coinfield Offer Beyond Buying And Selling?

Bitbuy Only

• Staking: Staking on nine coins including ETH, SOL, ADA and DOT, with a combined 39% cut of rewards (30% Bitbuy plus 9% custodian).
• OTC desk and Private Wealth: Offered for large trades.

What Happens To Your Money If Bitbuy Or Coinfield Fails?

Bitbuy: Existing Bitbuy users should watch for Robinhood migration emails and read the new terms and fees before accepting. Accounts are held by Coinsquare Capital Markets Ltd., a CIRO-regulated dealer, and the registry says the CSA entry for Bitbuy Technologies Inc. is expired. If you do not want to move, withdraw your crypto to a wallet you control. CIPF covers cash but never crypto.

Coinfield: Coinfield is the failure case: the platform shut in 2023 without meeting customer withdrawal requests, and the tribunal found it lacked the crypto assets to satisfy them. The sanctions are a permanent Ontario market ban, a CAD 2.4M penalty, CAD 537,034.46 disgorgement and CAD 89,538 costs. No CIPF or other scheme covers crypto, so affected customers should watch for official notices and ignore anyone offering paid recovery.

How Are Bitbuy And Coinfield Treated For Tax In Canada?

Bitbuy: Selling or swapping crypto on Bitbuy was a disposition for CRA purposes. Export your full transaction history before your account is migrated or closed. Export formats: Not published.

Coinfield: Trades on Coinfield were dispositions for CRA purposes. Keep your records, and speak to an accountant about any crypto you could not withdraw. Export formats: Not published.

Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.

Which Should You Choose, Bitbuy Or Coinfield?

Choose Bitbuy If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.
• You hold a Bitbuy account and want to compare it with what Robinhood is offering before you accept the migration.

Choose Coinfield If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.

What Happened To Bitbuy?

Bitbuy is no longer a separate platform. Its accounts moved to Coinsquare Capital Markets Ltd. in May 2024, and since Robinhood closed its WonderFi purchase on June 1, 2026, the Bitbuy site tells users it is now part of Robinhood and invites customers to move to the Robinhood app.

Coinsquare Capital Markets Ltd. is the entity that operates the platform, and it appears on the CSA list with a decision dated October 11, 2024. Bitbuy Technologies Inc. sits under expired decisions on the CSA site, and its FINTRAC MSB registration shows as ceased on February 20, 2025. Bitbuy's help centre says the 2024 move was required because its CSA relief was time-limited and called for a move under CIRO oversight.

If you still hold coins there, watch for the migration invitation, open it only from the official Bitbuy or Robinhood channels, and read the new terms before you accept. I do not send new readers to Bitbuy, because the business is being folded into Robinhood. On the Robinhood side, a flat 0.5% on CAD trades was advertised for the first few months after launch, and the zero-fee promotion for Canada ended on September 30, 2026. Its fee schedule sets the fee at 0.5% through October 31, 2026 and 0.95% from November 1, 2026.

What Happened To Coinfield?

Coinfield shut down in 2023. In January 2025, Ontario's Capital Markets Tribunal permanently banned its operators and ordered a CAD 2.4 million administrative penalty.

The operator was Manticore Labs OU, an Estonian company trading as Coinfield. According to the tribunal and Advisor.ca, the sanctions also include CAD 537,034.46 in disgorgement and CAD 89,538 in costs. At least 1,275 Ontario clients held about CAD 2.5 million at the end of 2022. Coinfield was an unregistered operator that failed to let Ontario users withdraw.

Its FINTRAC registration was revoked on November 10, 2023.

What Should Bitbuy And Coinfield Users Use Instead?

Neither side of this pair is a place to open a new account. The registry points Bitbuy users to Coinbase and Coinfield users to NDAX, and both are CSA-registered in Canada.

Coinbase. Coinbase is the closest like-for-like for a Bitbuy user: a beginner app, free Interac e-Transfer and EFT funding, and a Restricted Dealer registration in every province and territory. It sits first in my ranking at 9.8 out of 10. Simple buys carry a Coinbase fee of up to 1.875% on top of the spread, and fiat balances are not covered by CIPF. Derivatives launched for eligible Canadian investors only, so there is no retail leverage.

Visit Coinbase Read My Coinbase Review

NDAX. NDAX is a CIRO Dealer Member since December 19, 2024, charges a flat 0.20% on every trade and takes Interac e-Transfer and wire for free. It is seventh in my ranking at 7.8. The public API lists 77 base assets, there is a 20% administration fee on staking and Auto Earn rewards, and the pages I could read show no insurance dollar figure.

Visit NDAX Read My NDAX Review