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.
NDAX keeps roughly 95% of digital assets in cold storage using Ledger Vault, a big name in crypto security, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up, a policy we like since most exchanges leave it optional. Changing account details like your email or phone number requires submitting a selfie with a handwritten note, an old-school but effective defence against account takeover. As a CIRO member, NDAX also keeps client CAD balances in segregated accounts, though crypto assets themselves aren't covered by deposit insurance.
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 remain subject to the same CIRO requirements. Crypto assets aren't covered by CIPF, so long-term holdings belong in your own wallet.
NDAX keeps roughly 95% of digital assets in cold storage via BitGo Trust and Tetra Trust, two institutional-grade custodians approved as part of NDAX's CIRO membership, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up. Changing account details like your email or phone number requires submitting a selfie with a handwritten note — an effective defence against account takeover. As a CIRO member, NDAX keeps client CAD balances in segregated accounts protected under CIPF in the event of insolvency. Crypto assets themselves are not covered by CIPF.
Both Bitbuy and NDAX are secure exchanges with insured cold storage, mandatory 2FA and CIRO-mandated quarterly audits. NDAX's CIPF coverage on CAD balances is a meaningful differentiator — Bitbuy's CIRO oversight doesn't automatically confer CIPF coverage in the same way for retail clients.
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.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
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.
NDAX is one of the most compliant platforms in Canada. It became a registered investment dealer and CIRO member on December 19, 2024, approved across all provinces and territories by the Canadian Securities Administrators. It is also registered with FINTRAC and the AMF, and has received CIRO approval to offer staking services, which very few Canadian platforms can claim.
Both Bitbuy and NDAX are registered with FINTRAC and operate under CIRO oversight. NDAX holds the higher tier as a full CIRO investment dealer with CIPF coverage on fiat, while Bitbuy operates under CIRO as a registered dealer through the Robinhood/WonderFi group.
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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take 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 — a genuine weakness compared to NDAX or Netcoins. Bitbuy account holders should watch their inbox closely for Robinhood migration communications and review any new terms carefully before accepting them.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds publicly to negative reviews, which speaks well of how seriously they take support.
NDAX's multi-channel support — phone, live chat and email until midnight on weekdays — is a clear advantage over Bitbuy's email-only model. For active traders or anyone navigating the Robinhood migration, NDAX's real-time channels are more reassuring.
Conclusion
Both Bitbuy and NDAX are strong, well-regulated Canadian options, and the right choice depends on what you need.
NDAX is the stronger pick for most Canadians right now. As a full CIRO investment dealer since December 2024, it holds the higher regulatory tier of the two, with CIPF coverage on fiat balances, a fixed 0.2% fee with no spread markup, staking on 12+ coins with CIRO approval, and genuinely excellent multi-channel support. The coin range is similar to Bitbuy's and everything trades directly in CAD. The 20% staking commission is worth knowing, but the fee structure is the most transparent of any Canadian exchange.
Bitbuy is the stronger pick if you value the Robinhood backing and the prospect of an eventually broader product roadmap — equities, options and other investments beyond crypto are likely coming. The clean decade-long security record, CIRO-supervised custody with BitGo, and OTC desk are real strengths. 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. The 39% staking cut is the highest in Canada and is worth factoring in if staking yields matter to you.
We recommend choosing NDAX for most Canadians due to its higher regulatory tier, CIPF coverage, flat transparent fees and stronger support. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Bitbuy nor NDAX meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
