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.
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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for 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. Eligible fiat balances are covered by CIPF.
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 Wealthsimple Crypto and Crypto.com employ strong security frameworks. Wealthsimple holds client crypto with Gemini Trust under insurance, mandates 2FA and biometric login, and carries CIPF coverage on fiat balances as Canada's only CIRO-registered crypto investment dealer. Crypto.com mandates multi-factor authentication, holds SOC 2 and ISO/IEC 27001:2013 certifications, and carries substantial insurance on custodied assets.
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.
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.
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.
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 Wealthsimple Crypto and Crypto.com are registered with FINTRAC and operate under Canadian securities regulation. Wealthsimple holds the higher tier as a full CIRO investment dealer, while Crypto.com holds restricted dealer status and is working toward the same standard.
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.
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.
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 generally well regarded. One useful perk: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software, saving time at year end.
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.
Wealthsimple's support quality and integrated tax reporting give it the edge here. Crypto.com's 24/7 chat availability is a plus for users outside of business hours, but response quality on complex issues lags behind.
Conclusion
Both Wealthsimple Crypto and Crypto.com are strong, well-regulated options for Canadians, and the right choice depends on what you need.
Wealthsimple Crypto is the stronger pick for Canadians who want to manage everything in one place: crypto alongside stocks, TFSA and RRSP in a single app under Canada's strongest regulatory framework. As the country's only CIRO-registered crypto investment dealer, it offers CIPF coverage on fiat balances, free Interac deposits and withdrawals, staking, swaps, limit orders and now cash purchases at Canada Post. The main trade-off is the 2% Core-tier fee — if you are trading frequently, platforms like NDAX or Kraken Pro are more cost-effective for volume.
Crypto.com is the stronger pick if you want a broader feature set: more coins, Visa card cashback, staking across a wider range of assets, and a platform built for both beginners and active traders. 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.
We recommend choosing Wealthsimple Crypto for most Canadians due to its unmatched regulatory standing, CIPF coverage and all-in-one Canadian investing experience. By using our referral link, you support us in conducting independent analysis of crypto trading options for Canadians.
If neither Wealthsimple Crypto nor Crypto.com meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
