Coinfield Vs Bitvo: Which Is Better For Canadians In 2026?

How Do Coinfield And Bitvo Compare, Fact By Fact?

Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.

What Are The Key Differences Between Coinfield And Bitvo?

How Do You Fund And Cash Out Coinfield And Bitvo In Canada?

Platform closed in 2023. Never send funds to a site using the CoinField name. All funding now ended. Accounts moved to Bitbuy.

What Do Coinfield And Bitvo Offer Beyond Buying And Selling?

Bitvo Only

• Bitvo Cash Card: A prepaid card product listed among Bitvo's strengths.
• Same Day Guarantee: A funding-speed promise Bitvo marketed.

What Happens To Your Money If Coinfield Or Bitvo Fails?

Coinfield: Coinfield is the failure case: the platform shut in 2023 without meeting customer withdrawal requests, and the tribunal found it lacked the crypto assets to satisfy them. The sanctions are a permanent Ontario market ban, a CAD 2.4M penalty, CAD 537,034.46 disgorgement and CAD 89,538 costs. No CIPF or other scheme covers crypto, so affected customers should watch for official notices and ignore anyone offering paid recovery.

Bitvo: This was a merger, not a collapse: Bitvo's client accounts moved to Bitbuy, which has since moved to Coinsquare Capital Markets Ltd. and now Robinhood, per the registry. Check that you are logged into your account with the current owner and withdraw to a wallet if you prefer. Do not send crypto to an old Bitvo address or trust a site using the Bitvo name.

How Are Coinfield And Bitvo Treated For Tax In Canada?

Coinfield: Trades on Coinfield were dispositions for CRA purposes. Keep your records, and speak to an accountant about any crypto you could not withdraw. Export formats: Not published.

Bitvo: Trades on Bitvo were dispositions for CRA purposes. Ask for or export your Bitvo history from your migrated Bitbuy account. Export formats: Not published.

Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.

Which Should You Choose, Coinfield Or Bitvo?

Choose Coinfield If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.

Choose Bitvo If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.

What Happened To Coinfield?

Coinfield shut down in 2023, and in January 2025 Ontario's Capital Markets Tribunal permanently banned its operators and ordered a CAD 2.4 million penalty. Coinfield was an unregistered, Estonia-based operator, and it failed to let Ontario users withdraw.

The sanctions also include CAD 537,034.46 in disgorgement and CAD 89,538 in costs, according to the tribunal and advisor.ca. The platform began in 2018, and at the end of 2022 it had at least 1,275 Ontario clients holding about CAD 2.5 million. Its FINTRAC registration was revoked on November 10, 2023.

What Happened To Bitvo?

Bitvo stopped operating on its own in November 2023, when Bitbuy bought all of its client accounts and the Bitvo.com domain. The acquisition closed on November 14 and 15, 2023. This was a merger, not a withdrawal from Canada.

WonderFi put the number of moved client accounts at 17,000+. Bitvo's FINTRAC registration shows as ceased on October 8, 2024, and bitvo.com no longer resolves. Bitbuy has since gone through its own changes: its accounts moved to Coinsquare Capital Markets Ltd. in May 2024, and after Robinhood closed its WonderFi purchase on June 1, 2026 the Bitbuy site says it is part of Robinhood.

What Should Coinfield And Bitvo Users Use Instead?

Neither side of this matchup is a usable choice for new Canadian buyers, so the real question is which registered platform replaces them. These are the picks from my status research.

For Coinfield users, the closest replacement is NDAX. NDAX is a registered Canadian platform, whereas Coinfield was an unregistered operator that failed to let Ontario users withdraw.

For Bitvo users, the closest replacement is NDAX. NDAX is an Alberta-based registered platform with CAD funding, the nearest like-for-like for an Alberta-origin exchange.

NDAX: Fees, Funding And Safety

NDAX charges a flat 0.20% on every buy and sell, with no volume tiers and no maker or taker split. That is one of the lowest published flat fees among Canadian platforms.

Interac e-Transfer and wire deposits are free. Withdrawals cost CAD 1.50 by Interac (up to CAD 10,000 per transaction) or CAD 4.99 by EFT. NDAX publishes no official Canadian count. Its public API lists 77 base assets.

Ndax Canada Inc. is on the CSA list (decision of December 19, 2024), is a CIRO dealer member and holds a FINTRAC money services business registration. It describes cold and hot wallet storage, multi-signature authorization and MPC protection. No insurance dollar figure or proof of reserves appeared on the pages I checked.

It suits a Canadian-built platform with low flat fees and a 4.75-star Canadian App Store rating (15,225 ratings).

Who Should Choose What In 2026?

• NDAX: a Canadian-built platform with low flat fees and a 4.75-star Canadian App Store rating (15,225 ratings).

If you are still deciding, my 60-second quiz narrows it down, and my full ranking shows all ten picks with scores.

How Can You Check Whether An Exchange Is Allowed In Canada?

Do it before you deposit a dollar, because the status of a platform can change in months. Four checks take about ten minutes.

1. Look for the platform on the CSA list of crypto platforms authorized to do business with Canadians.
2. Search the CSA banned crypto platforms list, which includes entities ordered out by the Ontario Securities Commission and reciprocated by other provinces.
3. Search the FINTRAC money services business registry for the legal entity, and read the status column, because "Expired", "Ceased" and "Revoked" all mean the registration is gone.
4. Read the platform's own terms for a list of restricted locations. If Canada, or your province, is named, you are not allowed to use it, and a registered regulator cannot help you if something goes wrong.

Registration is also not the same as insurance. Crypto held at any Canadian platform is not covered by CIPF, so a registered dealer lowers the risk but does not remove it.