Security Compliance
Bitget uses two-factor authentication, sends alerts for logins and withdrawals, and offers an anti-phishing code to verify genuine emails. It maintains a protection fund of over $300 million to compensate users for losses where they're not at fault, and publishes monthly Proof of Reserves. Worth knowing: Bitget has had at least one security incident in its history and has been criticized for limited transparency around it.
ByBit's security record now carries a major asterisk. In February 2025, attackers linked to North Korea's Lazarus Group exploited ByBit's multi-signature wallet transfer process and stole roughly $1.5 billion in Ethereum, the largest crypto theft ever recorded. To ByBit's credit, no customers lost funds: the exchange covered all losses from its own liquidity and replenished reserves within about 72 hours, a crisis response widely considered the best the industry has seen. Still, the breach shows that even cold storage and multisig setups can be defeated. Users can secure their accounts with two-factor authentication via Google Authenticator. ByBit also previously ran into trouble in Canada specifically, paying a roughly $2.5 million penalty to the Ontario Securities Commission in 2022 for operating without registration.
Bitget uses two-factor authentication, sends alerts for logins and withdrawals, and offers an anti-phishing code to verify genuine emails. It maintains a protection fund of over $300 million to compensate users for losses where they're not at fault — this is a company-run fund, not third-party insurance. It publishes monthly Proof of Reserves. Since Bitget is not accessible from Canada, its security arrangements are academic for Canadian readers.
ByBit's security record now carries a major asterisk. In February 2025, attackers linked to North Korea's Lazarus Group exploited ByBit's multi-signature wallet transfer process and stole roughly $1.5 billion in Ethereum, the largest crypto theft ever recorded. To ByBit's credit, no customers lost funds: the exchange covered all losses from its own liquidity and replenished reserves within about 72 hours, a crisis response widely considered the best the industry has seen. Still, the breach shows that even cold storage and multisig setups can be defeated. Since ByBit is not available to Canadians, only its legacy fund recovery situation is relevant here.
Bitget has a company-run $300M+ protection fund and monthly Proof of Reserves. ByBit suffered the largest crypto hack in history in February 2025 but covered all customer losses within 72 hours and now publishes Proof of Reserves. Neither platform is relevant to Canadian users going forward.
Regulatory Compliance
Bitget is not registered with Canadian securities regulators and, as of 2026, Canada sits on its list of restricted jurisdictions. The Alberta Securities Commission had already warned investors that Bitget was not registered in the province before the broader restriction took effect. Canadians should avoid workarounds like VPNs, which breach Bitget's terms and put funds at risk of being frozen.
ByBit exited the Canadian market in 2023 due to Canadian regulations and Canada remains on its restricted jurisdictions list. Notably, ByBit has since obtained licenses elsewhere, including a MiCA license serving the EEA through ByBit EU and a UK relaunch in late 2025, but it has shown no intention of registering with Canadian regulators.
Bitget is not registered with Canadian securities regulators and, as of 2026, Canada sits on its list of restricted jurisdictions. The Alberta Securities Commission had already warned investors that Bitget was not registered in the province before the broader restriction took effect. Canadians should avoid workarounds like VPNs, which breach Bitget's terms and put funds at risk of being frozen.
ByBit exited the Canadian market in 2023 due to Canadian regulations and Canada remains on its restricted jurisdictions list. Notably, ByBit has since obtained licences elsewhere, including a MiCA licence serving the EEA through ByBit EU and a UK relaunch in late 2025, but it has shown no intention of registering with Canadian regulators. It also paid a roughly $2.5 million penalty to the Ontario Securities Commission in 2022 for operating without registration.
Neither Bitget nor ByBit is registered with Canadian securities regulators or authorized to serve Canadian retail crypto investors. Bitget was never registered and restricted Canada following regulatory pressure in 2026. ByBit exited Canada in September 2023 following its $2.5M OSC penalty and has not returned.
Customer support
Reviewers frequently describe Bitget's customer support as slow or unhelpful, particularly for complex issues involving futures or copy trading. That matters less now for Canadian readers, since the platform is closed to them, but anyone with a legacy account trying to withdraw remaining funds should be prepared for a slow support process.
ByBit has a helpful support centre on its website with numerous guides about crypto and how to use the exchange, plus ticket-based and chat support. For Canadians this is academic, since the platform is off-limits entirely.
Reviewers frequently describe Bitget's customer support as slow or unhelpful, particularly for complex issues involving futures or copy trading. That matters less now for Canadian readers, since the platform is closed to them, but anyone with a legacy account trying to withdraw remaining funds should be prepared for friction.
ByBit has a helpful support centre on its website with numerous guides about crypto and how to use the exchange, plus ticket-based and chat support. For Canadians this is academic, since the platform is off-limits entirely. Former Canadian users with legacy balances can still contact support, but expect friction.
Neither platform's ongoing support is relevant to Canadians. Both are relevant only for the specific scenario of recovering legacy funds, and both present friction in that process.
Conclusion
From a Canadian perspective, there is nothing to choose between Bitget and ByBit — neither is available. Bitget restricted Canadian users in early 2026 and was never registered with Canadian securities regulators. ByBit exited Canada in September 2023 and has shown no plans to return.
If you have legacy funds on Bitget, contact support and request withdrawal to an external wallet — be prepared for friction. If you have legacy funds on ByBit, their support centre still handles withdrawal requests for former Canadian users.
For Canadians looking for well-regulated alternatives with a broad coin selection and advanced trading features, we recommend Kraken (200+ coins, nationally registered restricted dealer since April 2025, with Pro trading fees that compete globally), Crypto.com (400+ coins, restricted dealer since May 2025), or NDAX (60+ coins, CIRO investment dealer with a flat 0.2% fee). See our full list of the best crypto exchanges in Canada for more options.
