Security Compliance
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen.
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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen.
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 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.
Wealthsimple Crypto holds client crypto in cold storage with Gemini Trust Company, backed by custodial insurance and a Coincover partnership, with KYC, 2FA and biometric login as standard. Bitvo had a clean security and compliance record during its operational life, with BitGo cold storage custody and an orderly wind-down with no customer fund losses. Only Wealthsimple Crypto is relevant for Canadian users going forward.
Regulatory Compliance
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
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 (June 2026, C$250M acquisition). Former Bitvo customers with account questions should contact Bitbuy/Robinhood support.
Wealthsimple Crypto is Canada's only CIRO-registered crypto investment dealer, with CIPF coverage on fiat balances and CSA authorization across all provinces. Bitvo was registered with FINTRAC and the CSA, enabling an orderly wind-down with no customer funds lost; its successor chain ends with Bitbuy/Robinhood.
Customer support
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
There is no Bitvo support team anymore. Former customers should reach out to Bitbuy/Robinhood, which assumed servicing of migrated accounts. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
Wealthsimple's 24/7 live chat and email support is the only relevant option for Canadians. Bitvo support now routes through Bitbuy/Robinhood. Neither platform offers phone support for crypto in Canada.
Conclusion
Bitvo no longer exists. Its client accounts were migrated to Bitbuy in November 2023, and Bitbuy itself was acquired by Robinhood in June 2026. If you were a Bitvo customer, your account is now part of the Robinhood/WonderFi group — contact Bitbuy/Robinhood support for any outstanding questions.
Wealthsimple Crypto is the clear choice for Canadians. As Canada's only CIRO-registered crypto investment dealer, it offers the strongest regulatory protection in the country, with CIPF coverage on fiat balances up to $1 million. The 140+ coin selection, integrated TFSA/RRSP access, staking, swaps, free recurring buys, and a 4.7-star app make it one of the most complete platforms for Canadians who want crypto alongside their broader investment portfolio. The 2% Core-tier fee is the main caveat for active traders; if cost is your primary concern, NDAX at 0.2% flat is a strong alternative.
We recommend choosing Wealthsimple Crypto over Bitvo for your cryptocurrency trading needs. By using our referral link, you get $50 and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that Wealthsimple Crypto doesn't meet your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
