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.
NDAX keeps roughly 95% of digital assets in cold storage using Ledger Vault, a big name in crypto security, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up, a policy we like since most exchanges leave it optional. Changing account details like your email or phone number requires submitting a selfie with a handwritten note, an old-school but effective defence against account takeover. As a CIRO member, NDAX also keeps client CAD balances in segregated accounts, though crypto assets themselves aren't covered by deposit insurance.
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.
NDAX keeps roughly 95% of digital assets in cold storage via BitGo Trust and Tetra Trust, two institutional-grade custodians approved as part of NDAX's CIRO membership, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up. Changing account details like your email or phone number requires submitting a selfie with a handwritten note — an effective defence against account takeover. As a CIRO member, NDAX keeps client CAD balances in segregated accounts protected under CIPF in the event of insolvency. Crypto assets themselves are not covered by CIPF.
CoinSmart had an orderly, regulator-supervised wind-down with no customer fund losses. NDAX keeps 95% of assets in cold storage via BitGo Trust and Tetra Trust, enforces mandatory 2FA and selfie-verification for account changes, and carries CIPF coverage on CAD balances as a CIRO investment dealer. Only NDAX is relevant for Canadian users here.
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.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
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.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
CoinSmart was FINTRAC-registered and OSC-authorized; its successor chain ends with Bitbuy/Robinhood as of June 2026. NDAX is registered with FINTRAC and operates as a full CIRO investment dealer with CIPF coverage on fiat — the highest regulatory tier in Canada, not merely "registered with FINTRAC as an MSB."
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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
There is no CoinSmart support team anymore; former users should contact Bitbuy support 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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
NDAX's multi-channel support — live chat, email and phone until midnight on weekdays — is the only relevant option for Canadians. Former CoinSmart users route through Bitbuy/Robinhood support.
Conclusion
CoinSmart is no longer an independent exchange. It merged into WonderFi in July 2023 and its client accounts moved to Bitbuy in September 2023. Bitbuy is now owned by Robinhood following the June 2026 WonderFi acquisition. If you were a CoinSmart user, log into Bitbuy with your old CoinSmart email to access your account and history. Never send crypto to an old CoinSmart deposit address. If anyone offers to recover your CoinSmart funds for a fee, it is a scam.
NDAX is the clear choice for Canadians. As a full CIRO investment dealer since December 2024, it holds the highest regulatory tier available to a Canadian crypto platform, with CIPF coverage on fiat balances up to $1 million. A fixed 0.2% trading fee with no spread markup, staking on 12+ coins with CIRO approval, free Interac deposits, phone support until midnight on weekdays, and a 4.7-star iOS app make it one of the strongest all-round options in Canada.
We recommend choosing NDAX over CoinSmart for your cryptocurrency trading needs. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that NDAX doesn't meet your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
