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.
CoinField marketed itself as a highly secure exchange using cold storage, multi-signature wallets and encryption. The regulatory record tells a different story: the OSC found the platform did not have sufficient crypto assets in custody to satisfy investor withdrawal requests and misled both investors and the regulator about why withdrawals were delayed. Whatever its technical security, customer funds were not safe. This is a textbook example of why we recommend holding your own coins in your own crypto wallet rather than leaving them on any exchange.
Security remains a paramount concern for cryptocurrency enthusiasts. While both Bitget and Coinfield have robust security measures in place, Bitget has a slight advantage with its advanced encryption protocols and two-factor authentication. Coinfield, although not trailing far behind, focuses on ensuring user data protection with its unique data storage mechanisms.
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.
CoinField's FINTRAC registration was ceased, and the company was never registered with Canadian securities regulators. In August 2024, Ontario's Capital Markets Tribunal found it violated securities law through unregistered trading, illegal distribution and misleading investors, and in 2025 it was permanently banned from Ontario's capital markets with over $3 million in combined penalties, disgorgement and costs. CoinField did not participate in the proceedings.
Canada, like many other nations, has federal agencies that monitor the operations of cryptocurrency exchanges for compliance. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is responsible for overseeing these platforms, ensuring they adhere to Canadian laws. While both Bitget and Coinfield operate in Canada, Coinfield stands out as it's based in the country and has a more in-depth understanding and alignment with the Canadian regulations. Bitget, although international, ensures it is compliant with all FINTRAC requirements.
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.
There is no customer support because there is no company left to contact. Former customers with unfulfilled withdrawals were harmed when the platform collapsed, and the tribunal noted the total harm to investors remains uncertain. If you were affected, you can report your experience to the OSC. If anyone contacts you claiming to recover your lost CoinField funds for a fee, that is a recovery scam, a common second-wave fraud targeting victims of collapsed exchanges.
Support can often be the breaking point for many users when choosing an exchange. Both Bitget and Coinfield prioritize their users by offering 24/7 support, ensuring any issues are promptly addressed. Bitget has a more extensive network of support agents, making their response time slightly faster than Coinfield. Coinfield, however, compensates with its detailed FAQ section and informative blog posts that preemptively address many users' concerns.
Conclusion
As of July 15th, 2023, Coinfield's website stopped operating properly for Canadians. Also, their registration status of MSB has been ceased by FINTRAC. As a result, we would recommend avoiding this crypto exchange at the moment. Feel free to check alternatives e.g. Bitget or BitBuy. The comparison below is outdated, but we have retained it in the event that the crypto exchange resumes proper operations in Canada. More information here. The comparison below is outdated and kept for educational purposes. Apparently, if you pick between Bitget and Coinfield, go ahead with Bitget.
Both Bitget and Coinfield are strong contenders in the world of cryptocurrency trading. They cater to their user base with their unique selling propositions, making the choice between them challenging. However, Bitget inches ahead with its advanced security features, faster client support, and international appeal, making it our top pick for 2024.
We recommend choosing Bitget over Coinfield 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 Coinfield 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.
