Security Compliance
Bitbuy remains one of the safest crypto exchanges for Canadians. Client assets are segregated and held predominantly in insured cold storage with custodian BitGo, protected by mandatory two-factor authentication, and verified through quarterly proof-of-reserves reporting required under CIRO oversight. Bitbuy has operated since 2016 without a hack. The Robinhood acquisition doesn't change these protections, since Robinhood stepped into Canada's existing regulatory structure rather than around it. As always, crypto itself isn't covered by CIPF, so long-term holdings belong in your own wallet.
Beaver Bitcoin is non-custodial, which puts it in the same safety category as Bull Bitcoin and Bitcoin Well rather than traditional exchanges. Because coins are delivered to your wallet immediately, the platform never accumulates customer funds that hackers could target, and there's no scenario where your bitcoin gets stuck behind a frozen withdrawal queue. The trade-off is on you: you must set up and secure your own Bitcoin wallet before your first purchase, so pick a good one and back up your seed phrase properly.
Bitbuy remains one of the safest crypto exchanges for Canadians. Client assets are segregated and held predominantly in insured cold storage with custodian BitGo, protected by mandatory two-factor authentication, and verified through quarterly proof-of-reserves reporting required under CIRO oversight. Bitbuy has operated since 2016 without a hack. The Robinhood acquisition doesn't change these protections, since Robinhood stepped into Canada's existing regulatory structure rather than around it. As always, crypto itself isn't covered by CIPF, so long-term holdings belong in your own wallet.
Beaver Bitcoin is non-custodial by design — bitcoin is sent directly to your wallet, so the platform never holds your funds. However, it is a small, newer company (since 2021) with less transparency around internal operations compared to Bitbuy.
Bitbuy has stronger institutional-grade security through CIRO oversight, BitGo custody and quarterly proof-of-reserves. Beaver Bitcoin minimises risk by never holding your coins. Both approaches are valid; which matters more depends on whether you prefer regulatory protection or pure non-custody.
Regulatory Compliance
Bitbuy's regulatory pedigree is among the best in Canada: it was the country's first registered crypto marketplace back in 2021, is registered with FINTRAC, and operates under CIRO oversight through the WonderFi group's registered dealer. In June 2026, Robinhood completed its C$250 million acquisition of WonderFi after CIRO approved the transfer of control, making Bitbuy part of a Nasdaq-listed company while keeping all Canadian registrations in place. The old IIROC Crypto-Asset Working Group reference is obsolete, as IIROC merged into CIRO in 2023.
Beaver Bitcoin is registered as a Money Services Business with FINTRAC and applies full KYC to every customer, keeping it compliant with Canadian regulations. As a bitcoin-only, non-custodial platform, it operates in the same regulatory lane as Bull Bitcoin rather than the securities-registered dealer path taken by custodial exchanges.
Bitbuy's regulatory pedigree is among the best in Canada: it was the country's first registered crypto marketplace back in 2021, is registered with FINTRAC, and operates under CIRO oversight through the WonderFi group's registered dealer. In June 2026, Robinhood completed its C$250 million acquisition of WonderFi after CIRO approved the transfer of control, making Bitbuy part of a Nasdaq-listed company while keeping all Canadian registrations in place.
Both platforms are registered with FINTRAC as Money Services Businesses under the PCMLTFA and require full KYC verification.
Bitbuy goes further: it operates under CIRO oversight — the same tier as bank-owned brokerages — with segregated client assets and quarterly proof-of-reserves. Beaver Bitcoin is FINTRAC-registered with full KYC, appropriate for a Bitcoin-only non-custodial service.
Customer support
Bitbuy has FAQs and a knowledge centre on its website, with support handled through email tickets. There's no live chat or phone line, and replies can take a while for complex issues, which is a genuine weakness compared to competitors like NDAX or Netcoins that offer real-time channels. Bitbuy account holders should also watch their inbox for Robinhood migration communications and review new terms carefully before accepting them.
Beaver's support is one of its standout features for a company its size. Reviews consistently praise the fast, human responses, and the team personally replies to feedback on Trustpilot, where the platform holds a strongly positive rating. Support runs through their help centre and email. The one recurring complaint worth noting in fairness: a small number of users report account closures during compliance reviews, which is a reality of any KYC platform but stings more when it's your DCA pipeline.
Bitbuy has FAQs and a knowledge centre on its website, with support handled through email tickets. There is no live chat or phone line, and replies can take a while for complex issues, which is a genuine weakness compared to competitors like NDAX or Netcoins that offer real-time channels. Bitbuy account holders should also watch their inbox for Robinhood migration communications and review new terms carefully before accepting them.
Beaver Bitcoin offers support via a website contact form. The small team may be slower to respond, but the platform is so minimal that support needs are usually low.
Bitbuy's email support with its detailed help centre is more comprehensive. Beaver Bitcoin's contact form is adequate for a platform where most users only ever need to buy Bitcoin with a recurring e-Transfer.
Conclusion
Both exchanges are good, but they serve different goals. Beaver Bitcoin is best for beginners and long-term holders who want the simplest, most transparent way to buy Bitcoin and hold it themselves. Bitbuy, however, is the overall winner thanks to its stronger regulatory standing, broader coin selection, staking on nine coins, CIRO oversight, and decade-long track record.
Choose Beaver Bitcoin if you want Bitcoin only, the simplest possible interface, a flat transparent 1.5% fee, and immediate self-custody without managing an exchange account.
Choose Bitbuy if you want 60+ coins, staking, Express and Pro trading interfaces, CIRO oversight with quarterly proof-of-reserves, and the backing of a Nasdaq-listed company.
Winner: Bitbuy — a more versatile and secure platform for Canadians looking beyond just Bitcoin.
We recommend choosing Bitbuy over Beaver Bitcoin 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 neither Bitbuy nor Beaver Bitcoin meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
