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.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never been hacked since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held.
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, and C$2.1 billion in Canadian client assets under custody remains subject to the same CIRO requirements. Crypto assets aren't covered by CIPF, so long-term holdings belong in your own wallet.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never been hacked since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held. Note that Kraken's client assets are not covered by CIPF, which every user must acknowledge at sign-up.
Both Bitbuy and Kraken prioritize security through cold storage for the majority of digital assets, two-factor authentication, and regular proof-of-reserves audits. Bitbuy's insured custody arrangement with BitGo and its CIRO-mandated quarterly audits give it a slight structural edge for Canadian retail investors.
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.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians can use the platform with confidence, with one caveat: as a restricted dealer, its client assets aren't covered by CIPF insurance.
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. Robinhood also holds a Nasdaq listing, adding another layer of public-company accountability.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally in every province and territory, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians in every province can use the platform with confidence — the old Ontario-only restriction that existed before April 2025 no longer applies.
Both Bitbuy and Kraken are registered with FINTRAC and operate under Canadian securities regulation. Both are fully legal to use for Canadians in every province and territory. Bitbuy operates under the higher tier as a CIRO-supervised registered dealer, while Kraken holds restricted dealer status and is working toward the same standard.
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.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
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 on 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.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
Kraken's 24/7 live chat is a clear advantage over Bitbuy's email-only model, especially for traders active across time zones or outside business hours.
Conclusion
Both Bitbuy and Kraken are strong, well-regulated options for Canadians, and the right choice depends on what you need.
Bitbuy is the stronger pick if you want a platform built specifically for the Canadian market, with a decade-long track record, CIRO-supervised custody and free Interac deposits. The Robinhood acquisition closed June 1, 2026 and brings financial backing and a future roadmap beyond crypto. The near-term trade-off is migration uncertainty — new fees, a new interface and new terms are coming, so read those communications carefully before accepting any changes. On staking, Bitbuy's 39% combined fee is the highest in Canada, so if staking yields matter, Kraken is the better option there.
Kraken is the stronger pick for Canadians who want more coins, pro-grade trading tools, staking at lower fees, and 24/7 live chat support. Funding with free Interac e-Transfer and trading on Kraken Pro is one of the most cost-effective ways to trade a wide range of assets in CAD. The main trade-off versus Bitbuy is the absence of CIPF coverage, so long-term holders especially should withdraw to their own wallet regularly.
We recommend choosing Bitbuy for Canadians who want a locally focused, deeply regulated platform with a long track record. By using our referral link, you support us in conducting independent analysis of crypto trading options for Canadians.
If neither Bitbuy nor Kraken meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
