Security Compliance
Bull Bitcoin is completely safe since you always take full custody of your bitcoin, you do not need to worry about hackers stealing your funds on the platform. However, there is still a level of trust needed because you do not buy the bitcoin yourself and must wait for it to be sent to your crypto wallet.
NDAX keeps its digital assets in cold storage using Ledger Vault, although they do not state the percentage. Ledger is a big name in the cryptocurrency space, known for making secure hardware wallets.
When signing up to NDAX, you are forced to enable two-factor authentication. Most crypto exchanges will leave this optional, but we think everybody should do it, so we like this mandatory policy.
Additionally, when you wish to change your details such as your email, address, phone number etc, NDAX requires you to submit a selfie with a handwritten note outlining the request.
Bull Bitcoin prioritizes security by allowing immediate self-custody of Bitcoin, reducing the risk of exchange hacks. It implements standard security measures and complies with Canadian regulations, ensuring a secure trading environment.
NDAX employs robust security measures, including cold storage for digital assets and mandatory two-factor authentication. It also provides transparency in the protection of fiat funds, positioning itself as a highly secure option for traders.
Regulatory Compliance
Bull Bitcoin is registered with FINTRAC as a Money Services Business and there is a full KYC procedure meaning Bull Bitcoin is fully compliant with Canadian regulations.
NDAX is registered as a Money Service Business with FINTRAC and AMF, NDAX is fully compliant with Canadian regulations.
Both Bull Bitcoin and NDAX are registered with FINTRAC as Money Services Businesses, adhering to Canadian regulatory standards. This registration ensures that they comply with laws and regulations, maintaining a high level of trust and safety for users.
Customer support
Since it is a small company, it may take some time for them to get back to you. Their opening hours are from 9 AM to 8 PM Mon-Fri with sporadic ability on weekends.The platform has a 4.9-star rating on Trustpilot with almost 200 reviews, so it’s clear that customers are extremely satisfied with the service.
NDAX provides a knowledge centre on its website. Articles here answer some of the most common questions. They also have a live chat function, which is handy when you need a quick answer. You can also email them for support. Confusingly, NDAX lists its phone number on its contact page, which is rare for a crypto exchange to do. We weren’t sure if this meant they had phone support, so we reached out via email to ask. They got back to us a very impressive 20 minutes later to let us know that they only have email support. So that’s that. Still, that’s the fastest response we’ve seen.
Bull Bitcoin offers support primarily via email, boasting a high Trustpilot rating which indicates a strong customer satisfaction level. Despite its smaller size, the feedback suggests that users appreciate the quality of support received.
NDAX provides a comprehensive support system, including a knowledge center, live chat, and email support. Despite some negative reviews on Trustpilot, NDAX's swift email response times indicate a commitment to effective customer service.
Conclusion
While both Bull Bitcoin and NDAX offer commendable services within the Canadian crypto market, Bull Bitcoin stands out as the winner for users focused on Bitcoin trading and seeking a straightforward, secure way to manage transactions. Its unique bill payment feature and the emphasis on self-custody of assets offer a distinct advantage, appealing to those prioritizing direct control over their Bitcoin. NDAX, with its broader cryptocurrency offerings and advanced trading features, remains an excellent option for traders looking for variety. However, Bull Bitcoin's simplicity, security, and specific focus make it particularly attractive for Bitcoin enthusiasts.
Bull Bitcoin is the most cost-effective platform for trading Bitcoin in Canada, offering a unique feature that allows users to pay bills, including phone, electricity, and even taxes to the Canada Revenue Agency (CRA).
