Note: Neither platform is available to Canadians. Bitvo wound down in November 2023 with client accounts migrated to Bitbuy, which is now owned by Robinhood following the June 2026 WonderFi acquisition. BitMEX has listed all of Canada as a restricted jurisdiction since late 2023. This comparison is preserved for historical reference. Our current recommendations for Canadians follow at the end.
In this comparison, we look at two prominent cryptocurrency exchanges, Bitvo and BitMEX. While both platforms once offered robust services, neither is available to Canadians in 2026. Bitvo wound down in November 2023 with an orderly migration of client accounts. BitMEX lists all of Canada as restricted.
Bitvo Vs BitMEX: Which Is Better For Canadians?
Neither is an option for Canadians today. Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain. BitMEX shut down its exchange on September 23, 2026, so no one, including Canadians, can trade there any more and only withdrawals remain. I recommend Coinbase instead (9.8/10, #1 on my list): open a Coinbase account.
Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.
Bitvo Vs BitMEX: Master Spec Table
Bitvo
BitMEX
Winner
Company
Bitvo Inc., Calgary, founded 2018. Bitbuy bought all client accounts (17,000+ per WonderFi) and the domain in November 2023. Founders and funding: Not published.
Operator: HDR Global Trading Limited (Seychelles). Founded, founders, funding: Not published. Ceased all exchange operations 2026-09-23.
Depends
Regulation
FINTRAC MSB M20580992 Ceased 2024-10-08. Bitvo Inc. is under CSA Expired Decisions.
Not registered in Canada. No FINTRAC, CSA or CIRO entry found as of 2026-10-02.
Tie
Assets
Small list: BTC, ETH, XRP, LTC, ADA, QCAD.
Perpetual and futures contracts only; no spot. Not available to Canadians.
Depends
Price
Zero trading commission, revenue from the spread (rate Not published). 1% withdrawal fee, $15 minimum.
Tiered maker/taker fees on derivatives, rates Not published. Closed.
Depends
CAD In
Free deposits; Interac e-Transfer about 30 minutes, no minimum deposit.
No longer available to Canadians
Depends
CAD Out
1% withdrawal fee with a $15 minimum.
No longer available to Canadians
Depends
Crypto In And Out
No longer available to Canadians
Crypto-only funding; website withdrawals stay open, API withdrawals ended 2026-09-28, monthly fee on balances, per CoinDesk.
Depends
Custody
Full reserve, never lent customer funds. BitGo custody, over 80% in cold storage.
All BTC in cold storage with multi-signature wallets, per BitMEX's old claims. Operator wound down trading; withdrawals only.
What Are The Key Differences Between Bitvo And BitMEX?
Bitvo Vs BitMEX: Side By Side
Bitvo
BitMEX
Description
Bitvo was a Calgary-based cryptocurrency exchange, founded in 2018, known for its Same Day Guarantee, zero trading fees and 24/7 phone support. In November 2023 its client accounts were acquired by Bitbuy and the Bitvo platform was wound down. It is also remembered as the exchange FTX almost bought, a deal terminated days after FTX's collapse in November 2022.
BitMEX was a veteran crypto derivatives exchange offering futures and perpetual contracts with up to 100x leverage. You could not deposit fiat, only crypto, and it was aimed at experienced traders. Canada was a restricted jurisdiction in BitMEX's terms before closing, and the exchange ceased all operations on 2026-09-23.
Coins
A small selection including Bitcoin, Ethereum, XRP, Litecoin, Cardano and QCAD, Canada's first mass-market stablecoin.
Perpetual and futures contracts on major cryptocurrencies including Bitcoin, Ethereum, Solana, XRP, Dogecoin, Cardano and Avalanche. None were accessible from Canada.
Fees
Free deposits, zero trading fees (revenue came from the spread), and a 1% withdrawal fee with a $15 minimum.
Free crypto deposits and free BTC withdrawals (network fees could apply on other assets). Low, tiered maker/taker fees on derivatives. Balances now face a monthly fee, per CoinDesk.
Pros
No trading fees
The Same Day Guarantee
The Bitvo Cash Card
Rare 24/7 phone support
Deep derivatives liquidity and one of the longest track records in crypto futures
Low, tiered maker/taker fees
Advanced order types
Handy leverage slider for adjusting risk per trade
Cons
Platform wound down in November 2023 with client accounts sold to Bitbuy
High spreads masked the "zero fee" pitch
The 1% withdrawal fee was a sore point
Small coin selection even at its peak
Closed on 2026-09-23
Canada was a restricted jurisdiction before closure
Not suitable for simply buying crypto, no fiat deposits
Only suitable for traders who understood contract trading
Checkered regulatory history in the US
Security
Bitvo operated on a full reserve basis, meaning it never lent customer funds, and held client assets with third-party custodian BitGo, with over 80% in cold storage. No customer funds were reported lost in the wind-down.
All BTC held in cold storage, multi-signature wallets, withdrawals audited by hand by BitMEX employees, 2FA. Never hacked in over a decade of operation, per our old row.
Methods To Buy
There was no way to buy through Bitvo after the migration. Former clients were moved to Bitbuy. A site claiming to be Bitvo and taking deposits is an impostor.
Canadians could not use BitMEX. Funding was crypto only (BTC, USDT and other supported assets), with no fiat rails.
App
Not published. The website and apps are no longer operational.
BitMEX had iOS and Android apps, inaccessible to Canadians and now closed.
Account Limits
No minimum deposit. Free 30-minute Interac e-Transfer deposits.
Not applicable. Full KYC was required before trading elsewhere.
How Do You Fund And Cash Out Bitvo And BitMEX In Canada?
Bitvo: CAD Deposits (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
Free
No minimum
Not published
about 30 minutes
Bitvo: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Fiat withdrawal
1%
CAD 15 fee minimum
Not published
Not published
BitMEX: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Crypto withdrawal via website
Not published
Not published
Not published
Not published
All funding now ended. Accounts moved to Bitbuy. BitMEX never accepted fiat.
What Do Bitvo And BitMEX Offer Beyond Buying And Selling?
Bitvo Only
Bitvo Cash Card: A prepaid card product listed among Bitvo's strengths.
Same Day Guarantee: A funding-speed promise Bitvo marketed.
BitMEX Only
Futures and perpetual contracts (closed): Up to 100x leverage on crypto derivatives. Trading ceased 2026-09-23.
What Happens To Your Money If Bitvo Or BitMEX Fails?
Bitvo: This was a merger, not a collapse: Bitvo's client accounts moved to Bitbuy, which has since moved to Coinsquare Capital Markets Ltd. and now Robinhood, per the registry. Check that you are logged into your account with the current owner and withdraw to a wallet if you prefer. Do not send crypto to an old Bitvo address or trust a site using the Bitvo name.
BitMEX: BitMEX says it closed by owner decision after a business review and that it is unrelated to legal or regulatory issues, per CoinDesk. If you still have a balance, withdraw through the website, since API withdrawals ended on 2026-09-28 and balances face a monthly fee. No Canadian regulator covers BitMEX, so there is no compensation scheme for crypto left behind.
How Are Bitvo And BitMEX Treated For Tax In Canada?
Bitvo: Trades on Bitvo were dispositions for CRA purposes. Ask for or export your Bitvo history from your migrated Bitbuy account. Export formats: Not published.
BitMEX: Derivative gains and losses on BitMEX were taxable for CRA purposes. Export your trade and wallet history now. Export formats: Not published.
Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.
Which Should You Choose, Bitvo Or BitMEX?
Choose Bitvo If
You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.
Choose BitMEX If
You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.
I have been trading crypto in Canada since 2016 and have tested 61 exchanges on my YouTube channel, so this comparison sticks to what each platform publishes and what Canadian regulators list. Neither platform in this comparison is a live choice for a Canadian opening a new account today. The useful part is why, and where to go instead.
What Happened To Bitvo?
Merged, not operating
Status: Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain.
This was a merger, not Bitvo leaving Canada. Bitvo was an Alberta-origin exchange, and WonderFi said more than 17,000 client accounts moved to Bitbuy in November 2023. The bitvo.com domain no longer resolves in DNS (checked October 2, 2026).
The chain did not stop there. Bitbuy moved its accounts to Coinsquare Capital Markets Ltd. in May 2024, and since Robinhood closed its WonderFi purchase on June 1, 2026, the Bitbuy site tells users it is now part of Robinhood. Bitvo Inc.'s CSA decision now sits under Expired Decisions, and its FINTRAC registration shows as Ceased on October 8, 2024.
If you still have questions about an old Bitvo account, the successor chain is Bitbuy, so that is where the history sits. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
What Happened To BitMEX?
Closed
Status: BitMEX shut down its exchange on September 23, 2026, so no one, including Canadians, can trade there any more and only withdrawals remain.
BitMEX's operator, HDR Global Trading Limited (Seychelles), ceased trading on September 23, 2026. BitMEX says the owner made the decision after a business review and that it is unrelated to legal or regulatory issues, according to CoinDesk.
Canada was already a restricted jurisdiction in BitMEX's terms before it closed, so Canadians were not a supported market even while it ran.
If you still hold a balance, CoinDesk reports that withdrawals through the website stay open, API withdrawals end on September 28, and balances face a monthly fee, so do not leave it sitting there.
What Should Bitvo And BitMEX Users Use Instead?
For Bitvo Users: NDAX
NDAX: Alberta-based registered Canadian platform with CAD funding, the nearest like-for-like for an Alberta-origin exchange.
NDAX at a glance
NDAX
Trading Cost
Flat 0.20% on every buy and sell, no tiers
CAD Funding
Interac e-Transfer and wire free
Coins
77 base assets (public API, not an official Canadian count)
Registration
CSA decision December 19, 2024; CIRO investment dealer member
: BitMEX ceased trading; only withdrawals remain open.
: Robinhood closed its WonderFi purchase; Bitbuy now tells users it is part of Robinhood.
: The CSA issued its Restricted Dealer decision for Payward Canada Inc. (Kraken), and Kraken announced free Interac e-Transfer deposits.
: NDAX Canada Inc. received its CSA decision and CIRO membership terms as an investment dealer.
: Bitbuy announced it had acquired Bitvo's client accounts and the Bitvo.com domain.
Frequently Asked Questions
Is Bitvo Still Available To Canadians?
Bitvo stopped operating on its own in November 2023 when Bitbuy bought all of its client accounts and the Bitvo.com domain.
What Should I Use Instead Of Bitvo?
Alberta-based registered Canadian platform with CAD funding, the nearest like-for-like for an Alberta-origin exchange.
NDAX: Flat 0.20% on every buy and sell, no tiers. Coins: 77 base assets (public API, not an official Canadian count).
Can I Still Recover My Funds From Bitvo?
If you still have questions about an old Bitvo account, the successor chain is Bitbuy, so that is where the history sits. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
Is BitMEX Still Available To Canadians?
BitMEX shut down its exchange on September 23, 2026, so no one, including Canadians, can trade there any more and only withdrawals remain.
What Should I Use Instead Of BitMEX?
Registered in Canada and still trading; BitMEX had already listed Canada as restricted before closing.
Kraken: Kraken Pro 0.40% maker / 0.80% taker at the base tier; Instant Buy 1% plus spread. Coins: About 490 (derived estimate).
Can I Still Recover My Funds From BitMEX?
If you still hold a balance, CoinDesk reports that withdrawals through the website stay open, API withdrawals end on September 28, and balances face a monthly fee, so do not leave it sitting there.
Do Bitvo And BitMEX Have Limit Orders?
Bitvo: Not published BitMEX: Yes globally, closed.
Which Coins Can You Buy On Bitvo And BitMEX?
Bitvo: Small list, closed BitMEX: Derivatives only, closed
Is The Spread The Fee On Bitvo And BitMEX?
Bitvo: No longer applicable. BitMEX: No longer applicable.
Does CIPF Cover My Crypto On Bitvo Or BitMEX?
Bitvo: CIPF never covers crypto, and this platform no longer serves Canadians. BitMEX: CIPF never covers crypto, and this platform no longer serves Canadians.
Are Bitvo And BitMEX Available In Every Province?
Bitvo: No longer available in any province. BitMEX: No longer available in any province.
Do Interac Deposits Work On Weekends On Bitvo And BitMEX?
Bitvo: No longer applicable. BitMEX: No longer applicable.
What Is The Minimum Buy On Bitvo And BitMEX?
Bitvo: No longer applicable. BitMEX: No longer applicable.
Can A Business Use Bitvo Or BitMEX?
Bitvo: No longer applicable. BitMEX: No longer applicable.
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
