CoinSmart Vs Bitbuy: Which Is Better For Canadians In 2026?

How Do CoinSmart And Bitbuy Compare, Fact By Fact?

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.

What Are The Key Differences Between CoinSmart And Bitbuy?

How Do You Fund And Cash Out CoinSmart And Bitbuy In Canada?

All funding ended. Accounts moved to Bitbuy. Funding for the live platform is now on Robinhood. Bitbuy-specific limits are Not published.

What Do CoinSmart And Bitbuy Offer Beyond Buying And Selling?

Bitbuy Only

• Staking: Staking on nine coins including ETH, SOL, ADA and DOT, with a combined 39% cut of rewards (30% Bitbuy plus 9% custodian).
• OTC desk and Private Wealth: Offered for large trades.

What Happens To Your Money If CoinSmart Or Bitbuy Fails?

CoinSmart: This was a merger, not a collapse. CoinSmart's accounts went to Bitbuy, which has since moved to Coinsquare Capital Markets Ltd. and then Robinhood. Log in through Bitbuy with your old CoinSmart email, and never send crypto to an old CoinSmart deposit address, because the addresses changed. If you prefer not to follow the move to Robinhood, withdraw to your own wallet.

Bitbuy: Existing Bitbuy users should watch for Robinhood migration emails and read the new terms and fees before accepting. Accounts are held by Coinsquare Capital Markets Ltd., a CIRO-regulated dealer, and the registry says the CSA entry for Bitbuy Technologies Inc. is expired. If you do not want to move, withdraw your crypto to a wallet you control. CIPF covers cash but never crypto.

How Are CoinSmart And Bitbuy Treated For Tax In Canada?

CoinSmart: Trades on CoinSmart were dispositions for CRA purposes. Pull your CoinSmart history from your migrated Bitbuy account. Export formats: Not published.

Bitbuy: Selling or swapping crypto on Bitbuy was a disposition for CRA purposes. Export your full transaction history before your account is migrated or closed. 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, CoinSmart Or Bitbuy?

Choose CoinSmart 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 Bitbuy 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.
• You hold a Bitbuy account and want to compare it with what Robinhood is offering before you accept the migration.

What Happened To CoinSmart?

CoinSmart, run by Simply Digital Technologies Inc., stopped operating as a separate exchange after WonderFi moved its client accounts to Bitbuy. WonderFi announced the deal on September 8, 2023, and I could not verify the exact completion date. Its two CSA decisions, the original of October 21, 2021 and an amended one of December 21, 2021, now sit under the CSA's expired decisions.

FINTRAC lists the CoinSmart registration as ceased on September 10, 2024. Today coinsmart.com serves the Bitbuy site with a banner saying Bitbuy is now part of Robinhood. That chain matters: CoinSmart accounts went to Bitbuy, Bitbuy later moved under Coinsquare Capital Markets Ltd., and Robinhood closed its WonderFi purchase on June 1, 2026.

So CoinSmart did not collapse. It was folded into a larger group, and the group is now being folded into Robinhood. Bitbuy has a help article for migrated CoinSmart accounts if you ever need to trace one.

For more detail, see my CoinSmart page. I do not link to CoinSmart for sign-ups, because it is not an option for Canadians.

What Happened To Bitbuy?

Bitbuy accounts were moved to Coinsquare Capital Markets Ltd. in May 2024. The Bitbuy help centre says that transition was required because Bitbuy's CSA relief was time-limited and the business had to move under CIRO oversight. Bitbuy Technologies Inc. now sits under the CSA's expired decisions, and the live CSA entry belongs to Coinsquare Capital Markets Limited, with a decision dated October 11, 2024.

Then Robinhood closed its purchase of WonderFi, Bitbuy's parent, on June 1, 2026. The Bitbuy site now tells users it is part of Robinhood, and customers are being invited to move to the Robinhood app. FINTRAC lists Bitbuy Technologies Inc. as ceased on February 20, 2025.

Bitbuy still exists as a brand and app for now, but it is on its way into Robinhood, and I do not rank it or send new accounts there.

For more detail, see my Bitbuy page. I do not link to Bitbuy for sign-ups, because it is not an option for Canadians.

What Should CoinSmart And Bitbuy Users Use Instead?

Neither platform here is an option, so this match-up comes down to what to use instead. For CoinSmart, my notes point to NDAX: registered Canadian platform with CAD funding and a broad coin list. For Bitbuy, my notes point to Coinbase: registered Restricted Dealer in all provinces with free Interac e-Transfer funding, the closest mainstream beginner pick in the ranking.

What Should You Do If You Still Have Something With CoinSmart Or Bitbuy?

CoinSmart: If you held a CoinSmart account, it was migrated to Bitbuy, and Bitbuy's help centre has an article on what to do with a migrated account. Bitbuy itself is now part of Robinhood and is inviting customers to the Robinhood app, so check what you hold there and decide whether you want to stay. Whatever you decide, do not send crypto to an old CoinSmart deposit address.

Bitbuy: If you already have a Bitbuy account, you are being steered toward the Robinhood app, so read the migration notices before you move or sell anything. For a new account, pick a platform that is not mid-migration.

A simple rule applies after any platform change: keep your own records of every purchase, because the CRA treats crypto as a commodity and you need the history for your tax return.