Security Compliance
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.
Bitvo's exit was orderly and its record clean. It was a CSA-registered restricted dealer that operated on a full reserve basis, meaning it never lent customer funds, and held client assets with third-party custodians BitGo, with over 80% in cold storage. No customer funds were lost in the wind-down, and its refusal to close the FTX deal after the collapse protected its clients from being dragged into the largest fraud in crypto history.
Both Crypto.com and Bitvo prioritize the security of their platforms. Crypto.com holds 100% of customer funds in cold storage and employs multi-factor authentication for all transactions. The platform also runs a bug bounty program to identify and rectify vulnerabilities. On the other hand, Bitvo holds between 95% to 100% of assets in cold storage, operates a multi-layered firewall infrastructure, and screens cryptocurrencies listed on its platform. It is apparent that both exchanges offer robust security measures. However, Crypto.com's extra initiative with the bug bounty program gives it a slight edge.
Regulatory Compliance
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.
Bitvo was registered with FINTRAC and as a restricted dealer with Canadian securities regulators, and that registration shaped its ending: rather than collapsing, its client accounts were transferred to another registered platform under regulatory oversight. Its successor chain: Bitvo clients to Bitbuy (November 2023), Bitbuy's parent WonderFi to Robinhood (2025). Former Bitvo customers with account questions should contact Bitbuy support.
Crypto.com upholds Canadian regulations, marking its prominence as the first international crypto exchange to ink a pre-registration commitment with the Ontario Securities Commission (OSC). This underscores their dedication to delivering safe and lawful services to Canadian customers. Conversely, Bitvo is recognized as a registered Money Service Business in Canada, thoroughly adhering to the rules and regulations of FINTRAC.
Customer support
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.
There is no Bitvo support team anymore. Former customers should reach out to Bitbuy, which assumed servicing of migrated accounts. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
Crypto.com's customer service, while a little slow, manages to resolve issues within 24 hours. Unfortunately, they lack an educational resource or knowledge center. In contrast, Bitvo guarantees 24/7 customer support, including live chat, email, and phone support options. They also offer a customer satisfaction guarantee that promises to credit users if there are delays in registration, deposits, or withdrawals.
Conclusion
While both Crypto.com and Bitvo offer valuable features for their users, Crypto.com edges out as the winner due to its broad spectrum of services, robust security, and commitment to regulatory compliance. It offers a comprehensive crypto experience including staking, lending, and a broad variety of cryptocurrencies. Improvements could be made in the realm of customer service, but overall, Crypto.com is a versatile platform for Canadians interested in crypto trading.
We recommend choosing Crypto.com over Bitvo for your cryptocurrency trading needs. By opting for Crypto.com through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Crypto.com nor Bitvo 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.
