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.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never been hacked since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never suffered a platform hack since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held. Note that Kraken's client assets are not covered by CIPF, which every user must acknowledge at sign-up.
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.
Both Kraken and Crypto.com have strong security frameworks. Kraken's 13-year hack-free record and Proof of Reserves audits are among the best in the industry. Crypto.com's SOC 2 and ISO/IEC 27001:2013 certifications and substantial insurance coverage on custodied assets give it a formal audit advantage. Neither platform offers CIPF coverage on client assets.
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.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians can use the platform with confidence, with one caveat: as a restricted dealer, its client assets aren't covered by CIPF insurance.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally in every province and territory, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians in every province can now use the platform with confidence — the old Ontario-only service restriction that existed before April 2025 no longer applies.
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.
Both Kraken and Crypto.com are registered with FINTRAC and operate as registered restricted dealers under Canadian securities regulation, authorized to serve Canadians in every province and territory.
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.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
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.
Both platforms offer 24/7 chat, and both have received criticism for slow resolution of complex issues. Neither has a phone support line. Kraken's learning centre is deeper; Crypto.com University is more accessible for absolute beginners.
Conclusion
Both Kraken and Crypto.com are strong, well-regulated options for Canadians, and this is one of the closest comparisons in the global exchange category since both obtained restricted dealer registration within weeks of each other in 2025.
Kraken is the stronger pick for active traders and Canadians who want lower fees on volume. Kraken Pro's maker/taker fees are among the cheapest available in Canada, free Interac deposits avoid any FX conversion, CAD trading pairs keep things simple, and staking is available across a wide range of assets. The main caveats are high Instant Buy fees (use Kraken Pro instead) and the absence of CIPF coverage on client assets.
Crypto.com is the stronger pick for Canadians who want a broader all-in-one ecosystem — 400+ coins globally, Visa card cashback, staking, an all-in-one beginner-friendly app, and Crypto.com University for education. The main trade-offs are a spread baked into app pricing and slower customer support.
We recommend choosing Crypto.com for most Canadian beginners due to its polished all-in-one app and Visa card rewards, and Kraken for active traders who prioritize lower fees and pro-grade tools. By using our referral links, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Kraken nor Crypto.com meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
