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.
Coinbase keeps around 98% of customer crypto in cold storage with multi-signature wallets, making theft extremely difficult even if systems are compromised, and backs custodied assets with substantial crime insurance. It undergoes SOC 1 and SOC 2 audits and, as a public company, publishes quarterly audited financials, a level of transparency almost no competitor matches. Note that Coinbase also offers the separate, non-custodial Coinbase Wallet app for self-custody, which is distinct from holding coins on the exchange.
Crypto.com provides a secure trading environment, holding 100% of users' assets in cold storage. The platform is ISO-certified, ensuring rigorous security measures. Coinbase is also known for its strong safety measures, storing 98% of digital assets in offline cold storage. The platform employs two-factor authentication and encrypts wallets and private keys for additional security.
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.
Coinbase went from unregistered convenience to the most credentialed international platform in Canada: it signed an Enhanced Pre-Registration Undertaking in March 2023, formally launched with Interac rails in August 2023, and became a CSA-registered Restricted Dealer in April 2024, the first international exchange to achieve this. It's registered with FINTRAC as an MSB and authorized in Quebec by the AMF. Canadians can use the platform fully, with the standard restricted dealer caveats: certain altcoin purchase limits and no CIPF coverage on crypto.
Crypto.com aligns itself with Canadian regulations, having signed a pre-registration undertaking with the Ontario Securities Commission (OSC), demonstrating a commitment to providing secure and lawful services to Canadians. Coinbase, although US-based, complies with Canadian regulations as a registered Money Services Business with FinCEN. Therefore, both exchanges adhere to Canadian regulatory standards
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.
Coinbase offers 24/7 support with live chat, a comprehensive help centre and an extensive learning hub. Support quality remains its weak spot: reaching a human who understands Canadian banking specifics can take patience, and our own test took four days to get a real person. For routine issues the automated help works fine, but complex account problems can drag.
Crypto.com offers a responsive and comprehensive support system with 24/7 live chat and email services. Coinbase provides support via live chat, email, and recently introduced 24/7 phone support. However, it's worth noting that Coinbase has previously received some criticism regarding the effectiveness of their support response.
Conclusion
While both Crypto.com and Coinbase have robust platforms and considerable user bases, Crypto.com has a slight edge due to its comprehensive offerings, stringent security measures, and commitment to Canadian regulatory compliance. Coinbase, despite its user-friendly platform and rich educational resources, has faced criticism for its customer support and account limitations for Canadian users.
When comparing Coinbase to Crypto.com, it's worth noting that Coinbase One introduces several new features that make it more competitive. These include zero trading fees, boosted rewards, and priority customer support. Additionally, the platform has increased its focus on staking, allowing users to earn rewards, such as 5.10% APY on USDC. While Coinbase’s fees remain high outside of Coinbase One, these added benefits can make the platform more attractive for users looking to maximize earnings while minimizing transaction costs, especially compared to exchanges with lower fees but fewer reward opportunities.
When comparing Crypto.com to other exchanges, it's essential to note that Crypto.com stands out by offering over 350 cryptocurrencies, making it one of the most comprehensive platforms available. It also provides a Visa card with customizable cashback rates and different card types to suit user preferences. Additionally, Crypto.com’s robust DeFi services and competitive staking options, with regularly updated APY rates, make it a versatile choice for investors. Furthermore, its security certifications, such as SOC2 and ISO standards, further enhance its appeal by ensuring a high level of safety and trustworthiness.
We recommend choosing Crypto.com over Coinbase 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 Coinbase 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.
