Security Compliance
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.
Bitget uses two-factor authentication, sends alerts for logins and withdrawals, and offers an anti-phishing code to verify genuine emails. It maintains a protection fund of over $300 million to compensate users for losses where they're not at fault, and publishes monthly Proof of Reserves. Worth knowing: Bitget has had at least one security incident in its history and has been criticized for limited transparency around it.
Safety remains paramount in crypto trading. Coinsmart uses cold storage for its digital assets and mandates two-factor authentication for an added security layer. Bitget emphasizes a diversified approach, using a combination of cold and hot wallets, multi-signature wallets, and advanced DDoS protection. While both exchanges are diligent about security, Bitget seems to have a slight edge due to its multifaceted safety measures.
Regulatory 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.
Bitget is not registered with Canadian securities regulators and, as of 2026, Canada sits on its list of restricted jurisdictions. The Alberta Securities Commission had already warned investors that Bitget was not registered in the province before the broader restriction took effect. Canadians should avoid workarounds like VPNs, which breach Bitget's terms and put funds at risk of being frozen.
For a crypto exchange to operate seamlessly in Canada, compliance with Canadian federal organizations is essential. Coinsmart, rooted in Canada, is fully compliant, registered with FINTRAC, and has been granted status by the Ontario Securities Commission (OSC). Bitget, on the other hand, collaborates with Canadian regulators to ensure alignment with regional standards. While both exchanges take compliance seriously, Coinsmart's clear standing with key Canadian organizations gives it an upper hand in the region.
Customer support
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.
Reviewers frequently describe Bitget's customer support as slow or unhelpful, particularly for complex issues involving futures or copy trading. That matters less now for Canadian readers, since the platform is closed to them, but anyone with a legacy account trying to withdraw remaining funds should be prepared for a slow support process.
Customer support is crucial in the dynamic world of cryptocurrency. Coinsmart offers a 24/7 support system that includes live chat and a ticketing system. Their reported 97% customer satisfaction rate speaks volumes about their efficiency. Bitget also provides comprehensive support, featuring live chat, a ticket system, and an extensive FAQ section. Both platforms are geared towards ensuring users find timely solutions, but Coinsmart's high satisfaction rate might hint at a more personalized approach.
Conclusion
Choosing between Coinsmart and Bitget hinges on individual preferences and requirements. Both platforms excel in their own right, offering efficient trading, robust security, and compliance measures. However, if one were to select a winner, Coinsmart would slightly edge out due to its strong compliance record in Canada, high customer satisfaction rate, and a comprehensive approach tailored for both beginners and experts.
We recommend choosing Coinsmart over Bitget for your cryptocurrency trading needs. By opting for Coinsmart through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
CoinSmart is now part of WonderFi and the platform is not accepting new signups. If you're looking for the best crypto experience in Canada, we recommend signing up to Bitbuy, another licensed Canadian cryptocurrency trading platform operated by the same parent company, WonderFi. With Bitbuy, you will get access to an improved experience on web and mobile, staking rewards, Private Wealth services, and an advanced trading interface. Sign up using our referral link and get free $50 when depositing $250 on your account!
If you find that neither Coinsmart nor Bitget 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.
