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.
Shakepay holds the majority of users' funds in cold storage with insurance covering risks like theft or key loss, and client funds are held 1:1 with approved custodians. Operating since 2015, it has never been hacked. As a CIRO member, Shakepay's CAD balances carry Canadian Investor Protection Fund coverage up to $1 million, though crypto assets fall outside CIPF. Two-factor authentication, biometric login and email withdrawal confirmations round out account security.
Crypto.com is a highly secure exchange by industry standards: cold storage custody for the majority of assets, two-factor authentication, encrypted user data, mandatory withdrawal address whitelisting with email confirmation, and substantial third-party 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 all affected users and overhauled its security in response, with no comparable incidents since. As always, we recommend moving long-term holdings to your own crypto wallet.
Shakepay holds the majority of users' funds in cold storage with insurance covering risks like theft or key loss, and client funds are held 1:1 with approved custodians. Operating since 2015, it has never been hacked. As a CIRO member, Shakepay's CAD balances carry Canadian Investor Protection Fund coverage up to $1 million, though crypto assets fall outside CIPF. Full details of Shakepay's security and custody arrangements are published at shakepay.com/security and are subject to ongoing CIRO oversight. Two-factor authentication, biometric login and email withdrawal confirmations round out account security.
Both Crypto.com and Shakepay hold client crypto predominantly in cold storage, mandate two-factor authentication, and carry insurance on custodied assets. Shakepay adds CIPF coverage on CAD balances as a CIRO investment dealer — a protection Crypto.com does not yet offer as a restricted dealer. Crypto.com holds SOC 2 and ISO/IEC 27001:2013 certifications, giving it a formal third-party security audit trail.
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.
Shakepay is one of the most regulated crypto platforms in Canada. Beyond its FINTRAC Money Service Business registration, it became a CIRO-registered investment dealer in January 2025, the first Quebec-based crypto platform to reach that tier, and the first crypto-native member of Payments Canada in May 2025. Its bitcoin-backed lending product operates under a three-year exemptive relief from Quebec's AMF with passport coverage across all provinces. Montreal-based, it operates in every Canadian province and territory.
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 on May 8, 2025, it received restricted dealer registration in every province and territory in Canada — only the second major global exchange after Coinbase to reach this status. It's currently working toward full investment dealer registration and CIRO membership as the next step. It's also registered with FINTRAC, and globally holds a MiCA licence in the EU, US money transmitter licences, and licences in Singapore, the UK and Dubai.
Shakepay is one of the most regulated crypto platforms in Canada. Beyond its FINTRAC Money Service Business registration, it became a CIRO-registered investment dealer in January 2025, the first Quebec-based crypto platform to reach that tier, and the first crypto-native member of Payments Canada in May 2025. Its bitcoin-backed lending product operates under a three-year exemptive relief from Quebec's AMF with passport coverage across all provinces.
Crypto.com is registered with FINTRAC and holds restricted dealer status under Canadian securities regulation. Shakepay is registered with FINTRAC and operates as a full CIRO investment dealer with CIPF coverage on fiat — the higher regulatory tier of the two platforms compared here.
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.
Shakepay offers chat support, helpful FAQs and email support at [email protected], with tickets typically answered within hours, even on weekends. When we tested it, we received a reply in under 24 hours, and customer reviews consistently rank Shakepay's support among the friendliest in Canadian crypto.
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 earlier criticisms about missing educational resources no longer apply.
Shakepay offers chat support, helpful FAQs and email support, with tickets typically answered within hours, even on weekends. When we tested it, we received a reply in under 24 hours, and customer reviews consistently rank Shakepay's support among the friendliest in Canadian crypto.
Shakepay's support is faster, more personalized and better reviewed than Crypto.com's. For straightforward queries, Crypto.com's 24/7 chat is functional — but for anything complex, expect delays.
Conclusion
Both Crypto.com and Shakepay are strong, well-regulated options for Canadians, and the right choice depends on what you need.
Crypto.com is the stronger pick if you want more coins, Visa card cashback, staking across a wide range of assets, and a platform used by over 140 million people globally. Its restricted dealer registration across all Canadian provinces as of May 2025 puts it among the most compliant global exchanges operating here. The main trade-offs are slower customer support and a spread baked into app pricing.
Shakepay is the stronger pick for Canadians focused on BTC and ETH who want the simplest experience and the strongest Canadian regulatory protection. As a full CIRO investment dealer since January 2025, Shakepay holds a higher regulatory tier than Crypto.com, with CIPF coverage on CAD balances up to $1 million. Add free crypto withdrawals with network fees covered, ShakingSats, the Shakepay Card, interest on CAD and now bitcoin-backed loans, and it is a genuinely well-rounded platform for Bitcoin accumulators. The two-coin limitation is the only real constraint.
We recommend choosing Crypto.com for Canadians who want the broadest feature set and coin range, and Shakepay for those who want the strongest Canadian regulatory protection and the best BTC/ETH experience. By using our referral links, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Crypto.com nor Shakepay meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
