Security Compliance
Bull Bitcoin is one of the safest options in Canada because you always take full custody of your bitcoin, so you don't need to worry about hackers stealing funds sitting on the platform. There is still a small level of trust needed because you don't buy the bitcoin yourself and must wait a moment for it to be sent to your crypto wallet, but delivery is near instant, especially over Lightning.
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.
Bull Bitcoin is one of the safest options in Canada because you always take full custody of your bitcoin, so you don't need to worry about hackers stealing funds sitting on the platform. There is still a small level of trust needed because you don't buy the bitcoin yourself and must wait a moment for it to be sent to your crypto wallet, but delivery is near instant, especially over Lightning.
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 Bull Bitcoin's security is relevant here.
Bull Bitcoin protects users through immediate self-custody — your coins never sit on the platform. ByBit suffered the largest crypto hack in history in February 2025 but covered all losses within 72 hours. Since ByBit is not available to Canadians, only Bull Bitcoin's security is relevant here.
Regulatory Compliance
Bull Bitcoin is registered with FINTRAC as a Money Services Business and there is a full KYC procedure, meaning Bull Bitcoin is fully compliant with Canadian regulations. In July 2026, the company also obtained a MiCA licence through France's AMF, one of the strictest regulators in the EU, which says a lot about how seriously they take compliance.
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.
Bull Bitcoin is registered with FINTRAC as a Money Services Business with full KYC, making it fully compliant with Canadian regulations. In June 2026, Bull Bitcoin also obtained a MiCA licence through France's AMF — one of the strictest regulators in the EU.
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.
Bull Bitcoin is registered with FINTRAC and fully authorized to serve Canadians, with a June 2026 MiCA licence from France's AMF. ByBit exited Canada in 2023 and is not registered with Canadian securities regulators.
Customer support
Bull Bitcoin's support is one of its strongest points, and customers consistently praise how fast and knowledgeable the team is. The platform holds a 4.9 to 5-star rating on Trustpilot with over 320 reviews, so it's clear that customers are extremely satisfied with the service.
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.
Bull Bitcoin's support is one of its strongest points, and customers consistently praise how fast and knowledgeable the team is. The platform holds a 4.9 to 5-star rating on Trustpilot with over 320 reviews.
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.
Bull Bitcoin's near-perfect Trustpilot rating makes it the clear support winner for Canadians. ByBit's support is irrelevant to Canadian users since the platform doesn't serve them.
Conclusion
From a Canadian perspective, this comparison has a clear answer. ByBit exited Canada in September 2023 and Canada remains on its restricted jurisdictions list, with no indication it intends to register with Canadian regulators.
Bull Bitcoin is the clear choice for Canadians. Immediate self-custody on every purchase, bill payments for phone/electricity/CRA taxes, Lightning support, Canada Post cash access at thousands of locations, and the BULL Wallet mobile app launched in October 2025 make it the most capable Bitcoin-only platform in Canada. The FINTRAC MSB registration and June 2026 MiCA licence from France's AMF make it one of the more compliant Bitcoin-only platforms in the world.
We recommend choosing Bull Bitcoin over ByBit for your cryptocurrency trading needs. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that Bull Bitcoin doesn't meet your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
