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Bull Bitcoin vs CoinSmart: What Works Better For Canadians in 2025?

Oleg Galeev

Last updated July 16, 2026

Note: CoinSmart no longer exists as an independent exchange. It merged into the WonderFi group in July 2023, and its client accounts were migrated to sister platform Bitbuy later that year. Visiting CoinSmart today redirects you to Bitbuy, which has been owned by Robinhood since June 2026. Former CoinSmart users can log into Bitbuy with their old CoinSmart email. This comparison is preserved for historical reference, and our current recommendation for Canadians follows at the end.

Bull Bitcoin and CoinSmart represented two distinct approaches to cryptocurrency trading in Canada. Bull Bitcoin focused on Bitcoin self-custody, bill payments and Lightning. CoinSmart broadened the horizon with a variety of cryptocurrencies, educational resources, an OTC desk and multi-currency deposits — before its orderly wind-down in 2023.

Description

Bull Bitcoin is a unique Canadian Bitcoin trading platform with the ability to pay bills with bitcoin (cellphone, electricity, even taxes to the CRA) and that sends every purchase straight to self-custody, it never holds your coins. Founded in 2013, it now also operates in Europe, Mexico, Costa Rica, Argentina and Colombia.

CoinSmart was a Toronto-based Canadian crypto exchange, launched in 2018, known for same-day CAD, USD and EUR deposits and a beginner-friendly design with advanced trading built in. CoinSmart no longer exists as an independent exchange: it merged into the WonderFi group in July 2023, and its client accounts were migrated to sister platform Bitbuy later that year. Visiting CoinSmart today redirects you to Bitbuy, which has been owned by Robinhood since June 2026.

Coins

BTC only

No longer applicable. Before the shutdown, CoinSmart offered a modest selection including Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Solana and Shiba Inu.

Fees

Bull Bitcoin sends the BTC directly to your wallet, so you avoid the typical withdrawal and network fees that exchanges often charge, which is a money saver. There are no separate trading, deposit or withdrawal fees either. Instead, the cost is built into their "We sell" price as a spread, typically around 1.5% to 2% over the market rate depending on the currency, and that spread is all-inclusive. When paying via debit or cash at Canada Post, you'll pay a flat $3.95 CAD fee per transaction.

No longer applicable. Historically: 0.20% single-trade fees, free deposits over $2,000, a 1% fee on smaller Interac deposits, and 1% fiat withdrawal fees.

Pros

Immediate self-custody of assets
Send funds via e-Transfer, wire or bill payment from your bank
Cash and debit funding at thousands of Canada Post locations
No withdrawal fees or wait times
Recurring buys directly from your bank account
Pay bills with bitcoin
Lightning Network support for instant, cheap payouts

None currently, since the platform is closed. In its day, CoinSmart's strengths were low trading fees, same-day verification, multi-currency deposits (CAD, USD, EUR via SEPA), and its crypto-to-crypto trading without intermediate pairs.

Cons

Only bitcoin available
All funding methods now require full identity verification, including Canada Post
e-Transfer withdrawals capped at $10,000 CAD when selling

Ceased operating independently in 2023, with all accounts migrated to Bitbuy
The 1% fiat withdrawal fee was always a sore point

Account Limits

No maximum on deposits via wire transfer (wires over $10,000 CAD can get accelerated approval through Bull Bitcoin Prime)
No maximum on deposits via Interac e-Transfer (your bank's own Interac sending limit still applies, usually $10,000 to $25,000 CAD per day)
$100.00 CAD minimum / $7,500.00 CAD maximum per transaction via Cash or Debit at Canada Post
Up to $100,000.00 CAD per transaction via bill payment funding from your online banking
Buying and selling is effectively unlimited for verified accounts, and high-volume clients can use Bull Bitcoin Prime
Note: e-Transfer withdrawals when selling are capped at $10,000.00 CAD

No longer applicable.

App

Methods to buy

When buying bitcoin with Bull Bitcoin, you can deposit Canadian dollars via an Interac e-Transfer, wire transfer, bill payment from your online banking, or cash or debit at Canada Post. All methods require a verified Bull Bitcoin account. Since April 2024, even Canada Post in-person deposits require the clerk to check your government-issued ID, so the old anonymous cash route no longer exists.

There is no way to buy crypto through CoinSmart. Former users can log into Bitbuy with their old CoinSmart email, resetting their password on first login and using their existing Google Authenticator codes for 2FA. Important: deposit wallet addresses changed in the migration, so never send crypto to an old CoinSmart address; if you already have, contact Bitbuy support with the transaction hash. For current options, see our best crypto exchanges in Canada.

Security

Full custody of your bitcoin.

CoinSmart's wind-down was orderly and regulator-supervised, with no reported loss of customer funds, the same clean pattern as Coinberry and Bitvo, and the opposite of CoinField. Its legacy custody arrangement with BitGo and its OSC registration are what made the seamless handover possible.

Mobile and Desktop Trading

Bull Bitcoin has a user-friendly web interface. The open-source BULL Wallet mobile app launched in October 2025 and is available for iOS and Android. CoinSmart's colourful, cartoon-styled platform is gone; its web addresses redirect to Bitbuy, and its mobile apps are no longer maintained.

Bull Bitcoin

Bull Bitcoin keeps things simple since all transactions happen via your bank, and every purchase goes straight to your own wallet. The BULL Wallet app (launched October 2025) adds a native mobile experience for managing your self-custody bitcoin, making the platform genuinely usable on the go for the first time.

CoinSmart

CoinSmart's colourful, cartoon-styled platform is gone. Its web addresses redirect to Bitbuy, and its mobile apps are no longer maintained. Former CoinSmart users who need their account history for tax purposes should log into Bitbuy and request historical transaction records from support.

Bull Bitcoin

Bull Bitcoin keeps things simple since all transactions happen via your bank, and every purchase goes straight to your own wallet. There aren't many features to get you confused, and the platform has improved a lot with the launch of their mobile app and open-source BULL Wallet.

Major Screen

Buying Bitcoin via Bull Bitcoin

Transaction screen on the mobile app

Bull Bitcoin app screenshot

Coinsmart

CoinSmart's colourful, cartoon-styled platform is gone; its web addresses redirect to Bitbuy, and its mobile apps are no longer maintained.

Coinsmart App

Coinsmart App trading screen

Coinsmart mobile app interface

Coinsmart mobile app interface while trading

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.

CoinSmart's wind-down was orderly and regulator-supervised, with no reported loss of customer funds — the same clean pattern as Coinberry and Bitvo, and the opposite of CoinField. Its legacy custody arrangement with BitGo and its OSC registration are what made the seamless handover possible.

Bull Bitcoin protects users through immediate self-custody — your coins never sit on the platform. CoinSmart had a clean security and compliance record during its operational life, and its orderly migration is a model for how regulated Canadian platforms should close.

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.

CoinSmart was registered with FINTRAC and was one of the first crypto platforms granted registration by the Ontario Securities Commission, a status that shaped its ending: rather than stranding users, its accounts were transferred to another registered platform under regulatory oversight. The full successor chain: CoinSmart into WonderFi (July 2023), client accounts to Bitbuy (September 2023), WonderFi to Robinhood (June 2026). Former CoinSmart users needing historical transaction records for taxes should log into Bitbuy and request their history from support.

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.

Both Bull Bitcoin and CoinSmart were registered with FINTRAC and fully compliant with Canadian regulations. CoinSmart's OSC registration enabled an orderly wind-down with no customer funds lost. Bull Bitcoin adds a June 2026 MiCA licence from France's AMF.

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.

There is no CoinSmart support team anymore; former users should contact Bitbuy support ([email protected]) referencing their old CoinSmart account. Two practical warnings: anyone offering to "recover" CoinSmart funds for a fee is running a recovery scam, and any active website using the CoinSmart name to solicit deposits is an impostor.

There is no CoinSmart support team anymore; former users should contact Bitbuy support referencing their old CoinSmart account. Two practical warnings: anyone offering to "recover" CoinSmart funds for a fee is running a recovery scam, and any active website using the CoinSmart name to solicit deposits is an impostor.

Bull Bitcoin's near-perfect Trustpilot rating speaks for itself. CoinSmart no longer has any support function — all queries now go through Bitbuy.

Conclusion

CoinSmart no longer exists as an independent exchange. Its client accounts were migrated to Bitbuy in 2023, and Bitbuy itself was acquired by Robinhood in June 2026. If you were a CoinSmart customer, your account is now part of the Robinhood/WonderFi group — log into Bitbuy with your old CoinSmart email for any outstanding account questions.

For Canadians looking for a Bitcoin platform today, Bull Bitcoin is an excellent option. 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. 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 Bull Bitcoin for Canadians looking for a Bitcoin-only self-custody platform. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you need more than Bitcoin, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.

Author

Oleg Galeev

Cryptocurrency Specialist

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.

Bull Bitcoin vs CoinSmart: What Works Better For Canadians in 2025?