Security Compliance
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.
Gate has invested heavily in security in recent years, publishing monthly Proof of Reserves with coverage around 125% and holding licenses in Malta (MiCA), Dubai, Japan and elsewhere. That said, its track record includes past security incidents, and none of its licensing footprint extends to Canada. Since KYC is mandatory and tied to your ID country, Canadians who slip through via VPN risk having accounts frozen with funds inside.
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. Note that Kraken's client assets are not covered by CIPF, which every user must acknowledge at sign-up.
Gate has invested heavily in security in recent years, publishing monthly Proof of Reserves with coverage around 125% and holding licenses in Malta (MiCA), Dubai, Japan and the US. That said, its track record includes past security incidents going back to its days as Bter, and none of its licensing footprint extends to Canada. Since KYC is mandatory and tied to your ID country, Canadians who try to slip through via VPN risk having accounts frozen with funds inside.
Both Kraken and Gate prioritize security through cold storage and two-factor authentication, and both have published Proof of Reserves. Kraken's 13-year hack-free record and regulated status in Canada give it the clear edge for Canadian users — and since Gate is not accessible from Canada, only Kraken's security arrangements are practically relevant.
Regulatory Compliance
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.
Gate is not a compliant crypto exchange in Canada. Canada sits on its restricted locations list, Canadian accounts were closed in April 2022, and while Gate has since obtained licenses in the EU, Dubai, Japan and even launched a US entity in 2025, it has shown no sign of registering with Canadian regulators.
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.
Gate is not a compliant crypto exchange in Canada. Canada sits on its restricted locations list, Canadian accounts were closed in April 2022, and while Gate has since obtained licenses in the EU (MiCA via Malta), Dubai, Japan and launched a US entity in 2025, it has shown no sign of registering with Canadian regulators. The rebrand from Gate.io to Gate.com in May 2025 changed nothing for Canadians.
Kraken is a registered restricted dealer in every Canadian province and territory and is registered with FINTRAC. Gate lists Canada as a disallowed country and has held no Canadian regulatory registration since closing Canadian accounts in April 2022. Only Kraken is authorized to serve Canadian retail investors.
Customer support
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.
Gate offers a help centre, blog and live chat for users in supported countries. Reviews remain mixed, with recurring complaints on Trustpilot about slow support and withdrawal difficulties. For Canadians this is academic, since the platform is off-limits entirely.
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.
Gate offers a help centre, blog and live chat for users in supported countries. Reviews remain mixed, with recurring complaints on Trustpilot about slow support and withdrawal difficulties. For Canadians this is academic, since the platform is off-limits entirely.
Kraken's 24/7 live chat is the clear winner here for any Canadian who needs real-time help. Gate's support is irrelevant to Canadians who cannot access the platform.
Conclusion
From a Canadian perspective, this comparison has only one answer. Gate has listed Canada as a restricted jurisdiction since April 2022 and is simply not available — the May 2025 rebrand to Gate.com changed nothing for Canadians, and KYC enforcement means even VPN workarounds result in accounts that can be frozen with funds inside.
Kraken is the clear choice for Canadians. Its restricted dealer registration across all provinces and territories as of April 2025 makes it one of the most compliant global exchanges operating in Canada today. The feature set is strong: 200+ coins with CAD pairs, free Interac deposits, pro-grade trading on Kraken Pro, staking, and 24/7 live chat. The main caveats are high Instant Buy fees (use Kraken Pro for volume), and the absence of CIPF coverage on client assets — so long-term holders should withdraw to their own wallet regularly.
We recommend choosing Kraken over Gate 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 Kraken doesn't meet your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
