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Bitget vs. Bitvo: What Works Better For Canadians in 2024

Oleg Galeev

Last updated May 25, 2024

WonderFi and Bitbuy, its parent company, took over all Bitvo client accounts in 2023. This means Bitvo is now part of Bitbuy and isn't taking new sign-ups. If you're interested, sign up at Bitbuy instead. By using our referral link to sign up and depositing $250 in your account, you can receive a bonus of $50. Please note that the comparison provided below is now outdated and is preserved solely for educational and historical reference.

Bitget and Bitvo, both prominent names in the cryptocurrency landscape, cater to the Canadian market with distinct offerings. While Bitget is known for its wide altcoin variety and advanced trading options, Bitvo boasts a more beginner-friendly interface.

Description

Bitget is a cryptocurrency exchange for skilled users that offers thousand of altcoins for Canadians (and people all over the world) to trade.

Bitvo is a cryptocurrency exchange that offers simple trading for Canadians. It's fully compliant in Canada and also has a crypto cash card that can be used for everyday purchases.

Coins

Over 1000 major coins and altcoins

You can purchase Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin and more.

Fees

Trading fees on Bitget are low at just 0.1%, but can be lower if you pay fees with their token BGB.

The only fee you will pay is a 1% withdrawal fee

Pros

  • Low trading fees
  • Hundreds of altcoins
  • Advanced features
  • Simple KYC process
  • No deposit fees
  • No trading fees
  • Low withdrawal fee
  • Beginner and advanced trading available
  • Bitvo Cash Card available
  • 24/7 customer support (including phone support)

Cons

  • No Interac e-Transfer
  • Confusing for beginners
  • No CAD deposits and withdrawals
  • 1% CAD withdrawal fee
  • Limited number of coins available
  • Only for Canadians
  • High spreads

Account Limits

No major limits

A few withdrawal limits & deposit limit that could be found here

Methods to buy

  • Credit or debit card
  • P2P platform
  • Interac® e-Transfer
  • Wire
  • Canada Post Load

Security

  • 2FA
  • Anti-phishing code
  • $300 million insurance for lost assets
  •  It holds 95% of assets in cold storage
  • 5% in hot storage
  • A multi-layered firewall infrastructure to protect the exchange

Mobile and Desktop Trading

Bitget's mobile app is relatively well-received, with a 4.5-star rating on the Apple App Store and a 4.2-star rating on Google Play, indicating user satisfaction. Their desktop platform offers advanced charting and order book data, essential for serious traders. Bitvo, on the other hand, has modest app ratings with a 2.9-star rating on iOS and no rating on Android. However, its desktop counterpart is praised for its sleek design and easy navigation, especially for beginners.

Bitget

The Bitget platform can be confusing for beginners since there is advanced charting and order book data. Bitget’s mobile app has a 4.4-star rating on the Apple App Store and a 4.6-star rating on Google Play

Trading crypto on Bitget from Canada

Bitget desktop view (trading screen)

Depositing money to Bitget

Bitget depositing screen

Bitget mobile app main screenshot

Bitget mobile app main screen

Bitget mobile app screenshot

Bitget mobile app (coins)

Bitvo

Bitvo’s mobile app does not have many ratings. Its iOS app has a three-star rating with 21 reviews and its Android app has a 3.1-star rating with 19 reviews. Some of the reviewers claim the apps are buggy and that the experience on their desktop exchange is better.

Bitvo desktop app main screen

Bitvo desktop app main screen

Bitvo desktop (trading view)

Bitvo desktop (trading view)

Bitvo mobile app

Bitvo mobile app

Bitvo app main screen

Bitvo app (main screen)

Security Compliance

Bitget uses two-factor authentication for security and emails you about logins or withdrawals. They offer an anti-phishing code for genuine emails and have a $300 million insurance for lost assets, which you can claim if not at fault.

It is standard practice to hold most digital assets in third-party cold storage and Bitvo is no exception. It holds 95% of assets in cold storage and 5% in hot storage.

Customers’ fiat funds are held in segregated bank accounts and they also have multi-layered firewall infrastructure to protect the exchange. They also have a third-party that screens any cryptocurrencies looking to be listed on Bitvo. They analyze the coin’s history as well as other factors and don’t list anything that doesn’t align with their policies. This scrutiny helps to protect their customers from investing in scam coins.

Bitget emphasizes security, offering two-factor authentication and email notifications for user activities. They also provide an emergency insurance coverage of $300 million, ensuring user assets are protected. Bitvo holds most of its digital assets in third-party cold storage, typically ranging between 95% to 100%. They also utilize a multi-layered firewall infrastructure and third-party scrutiny for any cryptocurrency listings, reducing the risk of scam coins.

Regulatory Compliance

Not regulated by Canadian financial institutions. 

Bitvo is registered with FINTRAC and is compliant with Canadian regulations.

Bitget's position on Canadian federal compliance isn't explicitly mentioned. In contrast, Bitvo stands as a registered Money Service Business in Canada, ensuring its alignment with FINTRAC regulations, a federal organization overseeing money services businesses and ensuring their compliance with Canadian law.

Customer support

Reviewers say customer support is unhelpful but most of them are beginners. Bitget is not a crypto exchange for beginners and if you do not know how copy trading or futures trading works, then it is not a good idea to use them, as this customer points out. 

Bitvo has 24/7 support including live chat, email, and phone support. Bitvo is the first cryptocurrency exchange we’ve reviewed that has a phone support option, so this is a big plus when you need urgent help.

Bitget's customer support has mixed reviews, with a 2.8-star rating on Trustpilot, some users citing it as unhelpful. Bitvo takes pride in its customer support, offering 24/7 availability through live chat, email, and even phone—a rarity among crypto exchanges.

Conclusion

Both Bitget and Bitvo offer commendable services for Canadians in the crypto realm. However, if we had to pick a winner, Bitget takes the edge. Its expansive altcoin offerings, advanced trading features, and competitive fee structure make it a favored choice, especially for those delving deeper into the crypto trading world.

We recommend choosing Bitget over Bitvo for your cryptocurrency trading needs. By opting for Bitget through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Bitget nor Bitvo meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.

Author

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.