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.
To secure your Uphold account, you can enable two-factor authentication.
Uphold trading platform utilizes cold storage for your safety.
Bull Bitcoin prioritizes user security by enabling immediate self-custody of Bitcoin, reducing the risk associated with holding assets on an exchange. It is compliant with Canadian regulations, being registered with FINTRAC, and emphasizes transparency in its operations.
Uphold maintains a focus on regulatory compliance, registered as a Money Services Business in the United States, and adheres to various anti-money laundering (AML) and financial regulations. However, specific details about its security measures, such as cold storage and insurance coverage for digital assets, are not as prominently detailed.
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.
Uphold is fully regulated in the USA. They are compliant with the Office of Foreign Assets Control (OFAC) and record keeping regulations with the Bank Secrecy Act (BSA). It's Canadian-friendly as well.
Both Bull Bitcoin and Uphold operate within the regulatory frameworks applicable to their services in Canada. Bull Bitcoin's registration with FINTRAC and adherence to KYC procedures align it closely with Canadian federal oversight. Uphold, while primarily regulated under US laws, ensures compliance with international standards that affect Canadian users, including those set by OFAC and the BSA.
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.
Uphold has good reviews about their customer service teams. They offer help centres on their website and within the app.
You can contact Uphold’s customer support via their online ticketing system on their website.
Bull Bitcoin offers dedicated support through email, with responsive assistance during business hours. Its smaller scale and focus on the Canadian market mean personalized service but potentially longer response times during off-hours.
Uphold extends a broader range of support options, including an online ticketing system, FAQ, and educational resources. Reviews suggest that the support team is helpful and responsive, providing a reliable resource for users worldwide.
Conclusion
While both platforms offer unique advantages to Canadian crypto traders and investors, Bull Bitcoin emerges as the winner for those prioritizing direct Bitcoin transactions, self-custody, and utilizing Bitcoin for everyday payments. Its focus on Bitcoin, combined with robust security practices and adherence to Canadian regulatory standards, makes it an ideal choice for users seeking a dedicated Bitcoin trading experience. Uphold's broader asset offerings and trading capabilities present a compelling option for users seeking versatility, but Bull Bitcoin's specialization and service tailored to Canadian users' needs give it the edge in this comparison.
Uphold sets itself apart by offering an international debit card with cashback rewards and no foreign transaction fees, which is a big advantage for global traders. However, for Canadians, it's important to note that direct bank deposits and withdrawals aren't currently supported. Instead, Canadians can use credit or debit cards for trading, though credit card transactions come with a 3.99% fee. This limitation may make other exchanges more appealing for users who prefer traditional banking methods.
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).
