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Bull Bitcoin vs Crypto.com: What Works Better For Canadians in 2024?

Oleg Galeev

Last updated September 20, 2024

In this comparison, we explore the unique offerings of Bull Bitcoin and Crypto.com, two distinct platforms within the cryptocurrency exchange landscape in Canada. Bull Bitcoin provides a specialized service focused solely on Bitcoin, including the option to pay bills with BTC, whereas Crypto.com offers a broad range of crypto services, from trading to staking, all within a comprehensive app experience.

Description

Bull Bitcoin is a unique Canadian Bitcoin trading platform with ability to pay bills with bitcoin (cellphone, electricity even taxes to CRA) and that allows you to take self-custody immediately.

Crypto.com is a crypto exchange that is gaining popularity in Canada. It offers its own coin (CRO), staking, lending, NFTs, and pre-paid Visa crypto cards offering cashback. Crypto.com offers everything in one place and is suitable for Canadians looking for an easy way to buy crypto.

Coins

BTC only

150+

Fees

Bull Bitcoin sends the BTC directly to your wallet so you avoid typical withdrawal and network fees that exchanges often have which is a money saver. Bull Bitcoin does not charge fees for buying bitcoin either. Instead, you’ll get exactly what their “We sell” price is. When paying via debit or cash at Canada Post, you’ll pay a 2% fee.

Free deposits
Variable Withdrawal fees
Send crypto to other crypto.com users for free
0.04 to 0.4% maker/taker fees

Pros

Immediate self-custody of assets
Send funds via e-Transfer or wire
Pay anonymously with cash
No withdrawal fees or wait times
Recurring buys directly from your bank account
Pay bills with bitcoin

Wide range of coins available
Suitable for beginners and pro traders
Interac e-Transfer available
Deposits take up to one day to process
Visa cards
Staking
NFT marketplace
20+ fiat currencies supported
Free deposits

Cons

Only bitcoin available

No crypto education articles
Poor customer service

Account Limits

$10,000,000.00 CAD deposit / day via wire trasnfer
$10,000.00 CAD deposit / day via Interac E-transfer
$1,000.00 CAD deposit / day via Cash or Debit at Canada Post
Buy & Sell transfer are almost unlimited ( $1,000,000.00 CAD a day)

Low

App

Methods to buy

When buying cryptocurrency with Bull Bitcoin, you can deposit Canadian dollars via an Interac e-Transfer, wire transfer or cash or debit at Canada Post. With the first two options, you will have to KYC and verify your Bull Bitcoin account.

Interac e-Transfer

Security

Full custody of your bitcoin.

100% coins held in cold storage
Ledger Vault partnership
Multi-factor authentication
Mandatory whitelisting of withdrawal addresses

Mobile and Desktop Trading

Bull Bitcoin prioritizes simplicity and direct transactions, offering a straightforward web-based platform without a dedicated mobile app. It is designed for users to easily buy Bitcoin and pay bills directly, catering primarily to desktop users.

Crypto.com, on the other hand, provides a robust mobile app rated 4.6 stars on the Apple App Store and 4.4 stars on Google Play, alongside a Pro desktop exchange for advanced trading. The app is all-inclusive, allowing for trading, staking, and even applying for a crypto Visa card, making it highly versatile for users on the go.

Bull Bitcoin

Bull Bitcoin has a simple website since all of the transactions happen via your bank. There aren’t many features to get you confused, however, we think their website could be designed a little better.

Major Screen

Buying Bitcoin via Bull Bitcoin

Transaction screen on the mobile app

Bull Bitcoin app screenshot

Crypto.com

In the crypto.com app, users can buy and sell crypto easily. You can also directly stake or lend your crypto, apply for a crypto.com card, track favourite coins, withdraw to external wallets and more. The app is an all-in-one trading platform that’s user-friendly and suitable for beginners.

The app has a 4.3-star rating from 56,000 reviews on the Apple App Store and a 3.9-star rating from 200,000 reviews on Google Play.

If you’re looking for more advanced tools, you can use crypto.com’s desktop exchange. The exchange offers more charting and order types but the interface can be confusing for beginners. The crypto.com app has everything you need, so you’d only use the Exchange for slightly lower fees or advanced order types.

Advanced Desktop Trade

List of coins

Crypto.com app interface

Crypto.com app interface while trading

Security Compliance

Bull Bitcoin is completely safe since you always take full custody of your bitcoin, you do not need to worry about hackers stealing your funds on the platform. However, there is still a level of trust needed because you do not buy the bitcoin yourself and must wait for it to be sent to your crypto wallet.

Crypto.com is highly secure crypto exchange. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more.

Crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft.

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication - such as FaceID - to

Both platforms take security seriously but approach it differently. Bull Bitcoin ensures security by enabling users to take immediate custody of their Bitcoin, minimizing the risk associated with exchange custody. Crypto.com extends its security measures by holding 100% of users' funds in cold storage and requiring multi-factor authentication for all transactions, showcasing an extensive commitment to safeguarding assets.

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.

Crypto.com is fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

Bull Bitcoin is registered with FINTRAC as a Money Services Business, adhering to KYC procedures and Canadian regulations. Crypto.com has taken steps to comply with the Ontario Securities Commission (OSC) regulations, marking a significant move towards full compliance with Canadian laws. Both platforms demonstrate a commitment to operating within the legal framework set by Canadian federal organizations.

Customer support

Since it is a small company, it may take some time for them to get back to you. Their opening hours are from 9 AM to 8 PM Mon-Fri with sporadic ability on weekends.The platform has a 4.9-star rating on Trustpilot with almost 200 reviews, so it’s clear that customers are extremely satisfied with the service.

The customer support for crypto.com is quite slow. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down.

Bull Bitcoin offers customer support mainly via email, with a high Trustpilot rating indicating user satisfaction. Crypto.com provides various support channels but has received criticism for slower response times, despite its attempt to offer comprehensive customer service.

Conclusion

While both Bull Bitcoin and Crypto.com offer valuable services tailored to their audiences, Bull Bitcoin emerges as the preferred choice for those specifically focused on Bitcoin transactions in Canada. Its streamlined, direct approach to buying and using Bitcoin, combined with strong security measures and commitment to Canadian compliance, makes it exceptionally user-friendly for Bitcoin enthusiasts. Crypto.com's wide range of services and global reach are commendable, but for users seeking a straightforward, Bitcoin-centric experience, Bull Bitcoin stands out.

Bull Bitcoin is the most cost-effective platform for trading Bitcoin in Canada, offering a unique feature that allows users to pay bills, including phone, electricity, and even taxes to the Canada Revenue Agency (CRA).

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.