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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen.
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 remain subject to the same CIRO requirements. Crypto assets aren't covered by CIPF, so long-term holdings belong in your own wallet.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen. Eligible fiat balances are covered by CIPF.
Both Bitbuy and Wealthsimple Crypto are secure and well-regarded exchanges. Both require KYC, mandate two-factor authentication and hold the majority of client crypto in insured cold storage. Wealthsimple's Gemini Trust custody, Coincover recovery partnership and CIPF coverage on fiat give it a slight institutional edge. Bitbuy's CIRO-mandated quarterly proof-of-reserves and decade-long clean security record are genuine strengths in their own right.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
Both Bitbuy and Wealthsimple Crypto are registered with FINTRAC and operate under Canadian securities regulation. Wealthsimple holds the higher tier as a full CIRO investment dealer with CIPF coverage on fiat, while Bitbuy operates as a CIRO-supervised 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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is generally well regarded. One useful perk: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software, saving time at year end.
Wealthsimple's 24/7 live chat is a clear advantage over Bitbuy's email-only model. For users who need real-time help — especially during the Robinhood migration period — this matters.
Conclusion
Both Bitbuy and Wealthsimple Crypto are strong, well-regulated Canadian platforms, and the right choice depends on what you need.
Wealthsimple Crypto is the stronger pick if you want the broadest regulated Canadian crypto experience in one app. With 140+ coins, staking on ETH/SOL/ADA/DOT, crypto-to-crypto swaps, limit orders, free Interac deposits and withdrawals, Canada Post cash purchases and CIPF coverage on fiat — all alongside your TFSA, RRSP and stocks — it is hard to match for all-in-one Canadian investing. The 2% Core-tier fee is the main trade-off for active traders.
Bitbuy is the stronger pick if you want a platform with a long Canadian track record, CIRO-supervised quarterly audits, and the backing of a Nasdaq-listed company. The Pro Trade platform offers lower maker/taker fees than Wealthsimple's Core tier for active traders, and staking on nine coins adds a meaningful passive income option. The near-term trade-off is migration uncertainty — new fees, a new interface and new terms are coming under the Robinhood platform, so read those communications carefully before accepting any changes.
We recommend Wealthsimple Crypto for most Canadians due to its unmatched regulatory standing, CIPF coverage, broader coin range and 24/7 live chat. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Bitbuy nor Wealthsimple Crypto meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
