Security Compliance
Bitget uses two-factor authentication for security and emails you about logins or withdrawals. They offer an anti-phishing code for genuine emails and have a $300 million insurance for lost assets, which you can claim if not at fault.
Safety remains paramount in crypto trading. Coinsmart uses cold storage for its digital assets and mandates two-factor authentication for an added security layer. Bitget emphasizes a diversified approach, using a combination of cold and hot wallets, multi-signature wallets, and advanced DDoS protection. While both exchanges are diligent about security, Bitget seems to have a slight edge due to its multifaceted safety measures.
Regulatory Compliance
Coinsmart is fully compliant in Canada. Not only the exchange is registered with FINTRAC but they are also granted status by Ontario Securities Commission (OSC).
Not regulated by Canadian financial institutions.
For a crypto exchange to operate seamlessly in Canada, compliance with Canadian federal organizations is essential. Coinsmart, rooted in Canada, is fully compliant, registered with FINTRAC, and has been granted status by the Ontario Securities Commission (OSC). Bitget, on the other hand, collaborates with Canadian regulators to ensure alignment with regional standards. While both exchanges take compliance seriously, Coinsmart's clear standing with key Canadian organizations gives it an upper hand in the region.
Customer support
CoinSmart states that it has a 97% customer satisfaction rate and this claim is backed up by the 70% excellent customer reviews on Trustpilot. CoinSmart offers 24/7 support via email and online ticketing.
Reviewers say customer support is unhelpful but most of them are beginners. Bitget is not a crypto exchange for beginners and if you do not know how copy trading or futures trading works, then it is not a good idea to use them, as this customer points out.
Customer support is crucial in the dynamic world of cryptocurrency. Coinsmart offers a 24/7 support system that includes live chat and a ticketing system. Their reported 97% customer satisfaction rate speaks volumes about their efficiency. Bitget also provides comprehensive support, featuring live chat, a ticket system, and an extensive FAQ section. Both platforms are geared towards ensuring users find timely solutions, but Coinsmart's high satisfaction rate might hint at a more personalized approach.
Conclusion
Choosing between Coinsmart and Bitget hinges on individual preferences and requirements. Both platforms excel in their own right, offering efficient trading, robust security, and compliance measures. However, if one were to select a winner, Coinsmart would slightly edge out due to its strong compliance record in Canada, high customer satisfaction rate, and a comprehensive approach tailored for both beginners and experts.
We recommend choosing Coinsmart over Bitget for your cryptocurrency trading needs. By opting for Coinsmart through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
CoinSmart is now part of WonderFi and the platform is not accepting new signups. If you're looking for the best crypto experience in Canada, we recommend signing up to Bitbuy, another licensed Canadian cryptocurrency trading platform operated by the same parent company, WonderFi. With Bitbuy, you will get access to an improved experience on web and mobile, staking rewards, Private Wealth services, and an advanced trading interface. Sign up using our referral link and get free $50 when depositing $250 on your account!
If you find that neither Coinsmart nor Bitget meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
