Security Compliance
CoinField marketed itself as a highly secure exchange using cold storage, multi-signature wallets and encryption. The regulatory record tells a different story: the OSC found the platform did not have sufficient crypto assets in custody to satisfy investor withdrawal requests and misled both investors and the regulator about why withdrawals were delayed. Whatever its technical security, customer funds were not safe. This is a textbook example of why we recommend holding your own coins in your own crypto wallet rather than leaving them on any exchange.
Crypto.com is a highly secure exchange by industry standards: cold storage custody, two-factor authentication, encrypted user data, mandatory withdrawal address whitelisting with email confirmation, and substantial insurance coverage on custodied assets. For balance, it did suffer a hack in January 2022, when roughly $34 million was taken from around 483 accounts, but Crypto.com fully reimbursed affected users and overhauled its security in response, and there have been no comparable incidents since. As always, we recommend moving long-term holdings to your own crypto wallet.
Crypto.com appears to have an edge when it comes to security, as it stores 100% of its customer funds in cold storage, uses multi-factor authentication, and consults leading cybersecurity firms. Coinfield also emphasizes security, offering 2FA, SSL encryption, and segregated accounts, but it doesn't specify the percentage of funds kept in cold storage.
Regulatory Compliance
CoinField's FINTRAC registration was ceased, and the company was never registered with Canadian securities regulators. In August 2024, Ontario's Capital Markets Tribunal found it violated securities law through unregistered trading, illegal distribution and misleading investors, and in 2025 it was permanently banned from Ontario's capital markets with over $3 million in combined penalties, disgorgement and costs. CoinField did not participate in the proceedings.
Crypto.com is among the most regulated crypto platforms available to Canadians. It was the first platform to sign a Pre-registration Undertaking with the CSA and OSC in August 2022, and in May 2025 it received restricted dealer registration in every province and territory, making it only the second major global exchange after Coinbase to reach this status. It's now working toward full investment dealer registration and CIRO membership. It's also registered with FINTRAC, and globally holds a MiCA license in the EU, US money transmitter licenses, and licenses in Singapore, the UK and Dubai.
Both exchanges are compliant with Canadian regulations. Crypto.com has signed a pre-registration undertaking with the Ontario Securities Commission, making it the first global crypto exchange to comply with OSC regulations. Coinfield is a registered business in Canada, operates under FINTRAC as an MSB, and is audited annually by a third-party firm, making it a secure platform for Canadian users.
Customer support
There is no customer support because there is no company left to contact. Former customers with unfulfilled withdrawals were harmed when the platform collapsed, and the tribunal noted the total harm to investors remains uncertain. If you were affected, you can report your experience to the OSC. If anyone contacts you claiming to recover your lost CoinField funds for a fee, that is a recovery scam, a common second-wave fraud targeting victims of collapsed exchanges.
Crypto.com's customer support remains its weakest area: users love the app, security and coin range, but support is chat and ticket-based and can be slow for complex issues. On the education front, the platform now offers Crypto.com University with courses and articles for beginners, so our earlier criticism about missing educational resources no longer applies.
Coinfield offers a comprehensive support center with live chat, a self-help portal, and email assistance. On the other hand, Crypto.com's customer service is said to be slower, though it still offers email support and a comprehensive crypto education section on their platform.
Conclusion
As of July 15th, 2023, Coinfield's website stopped operating properly for Canadians. Also, their registration status of MSB has been ceased by FINTRAC. As a result, we would recommend avoiding this crypto exchange at the moment. Feel free to check alternatives e.g. Bitget or BitBuy. The comparison below is outdated, but we have retained it in the event that the crypto exchange resumes proper operations in Canada. More information here. The comparison below is outdated and kept for educational purposes. Apparently, if you pick between Crypto.com and Coinfield, go ahead with Crypto.com.
Both Coinfield and Crypto.com are competitive in their offerings, security, and compliance. However, considering the broader selection of cryptocurrencies, superior customer support, and a slight edge in app ratings, Coinfield could be the preferable choice for some users. However, those who value a more feature-rich platform, with offerings like staking and a crypto Visa card, may find Crypto.com more appealing.
We recommend choosing Coinfield over Crypto.com for your cryptocurrency trading needs. By opting for Coinfield through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Coinfield nor Crypto.com meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
