Note: Neither platform is available to Canadians. CoinSmart merged into the WonderFi group in July 2023 and its client accounts were migrated to Bitbuy in September 2023. Bitbuy is now owned by Robinhood following the June 2026 WonderFi acquisition. Gate (formerly Gate.io, rebranded to Gate.com in May 2025) has restricted all Canadian accounts since April 2022. This comparison is preserved for historical reference only.
In this comparison, we examine CoinSmart and Gate.io, two popular cryptocurrency exchanges with different offerings. CoinSmart was a Canadian-focused exchange known for its user-friendliness and regulatory compliance. Gate (now Gate.com) is one of the world’s largest exchanges by altcoin variety. Neither is available to Canadians in 2026.
CoinSmart Vs Gate.io: Which Is Better For Canadians?
Neither is an option for Canadians today. CoinSmart stopped operating separately after WonderFi moved all its client accounts to Bitbuy, announced in September 2023. Gate.io is an offshore exchange that is not registered in Canada and lists Canada as a restricted location in its user agreement. I recommend Coinbase instead (9.8/10, #1 on my list): open a Coinbase account.
How Do CoinSmart And Gate.io 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.
CoinSmart Vs Gate.io: Master Spec Table
CoinSmart
Gate.io
Winner
Company
Simply Digital Technologies Inc. (carrying on business as CoinSmart), Toronto, launched 2018. Accounts moved to Bitbuy; WonderFi announced the transaction 2023-09-08. Founders: Not published.
Launched 2013, rebranded from Gate.io to Gate.com in May 2025. Legal entity for Canada: none. Founder, HQ and funding not verified on a primary page.
Depends
Regulation
FINTRAC MSB M18755033 Ceased 2024-09-10. CSA Expired Decisions: original 2021-10-21, amended 2021-12-21. Not on the banned list.
Not on CSA authorized or banned list (2026-10-02). FINTRAC M20329002 (Gate Technology Corp.) expired 2023-05-31. No CIRO. No CIPF for crypto.
Tie
Assets
Modest list: BTC, ETH, LTC, ADA, DOGE, SOL, SHIB.
2,053 base assets across 2,202 spot pairs (public API, 2026-10-02), none open to Canadians.
Depends
Price
0.20% single-trade fee.
Spot base fee 0.2% per pair in the public API (2026-10-02). Irrelevant to Canadians.
Depends
CAD In
Free over $2,000; 1% fee on smaller Interac deposits. CAD, USD and EUR (SEPA) accepted.
No CAD funding. Canada is a restricted location, so Canadians cannot fund an account.
Depends
CAD Out
1% fiat withdrawal fee.
No CAD withdrawal to a Canadian bank is published.
Depends
Crypto In And Out
No longer available to Canadians
Not applicable to Canadians. No new account can be opened from Canada.
Depends
Custody
BitGo custody, legacy arrangement.
Custodial exchange. Whatever Canadian-held balances remain are not covered by CIPF or any Canadian regulator.
Depends
Verification (KYC)
No longer available to Canadians
Not applicable to Canadians. Account creation is barred for Canada under the terms.
Depends
Account Types
No longer available to Canadians
Not published
Depends
Provinces
No longer available to Canadians
0 of 13. The restriction names all of Canada, not a single province.
Depends
Extra Products
No longer available to Canadians
Not applicable to Canadians.
Depends
Tax Tools
No longer available to Canadians
Not verified
Depends
App
Apps no longer maintained; addresses redirect to Bitbuy.
Not applicable. Gate says it has no Canadian service;
What Are The Key Differences Between CoinSmart And Gate.io?
CoinSmart Vs Gate.io: Side By Side
CoinSmart
Gate.io
Description
CoinSmart was a Toronto-based crypto exchange, launched in 2018, known for same-day CAD, USD and EUR deposits and a beginner-friendly design with advanced trading built in. It joined the WonderFi group in 2023 and its client accounts were moved to sister platform Bitbuy; coinsmart.com now shows the Bitbuy site, which says it is part of Robinhood.
Launched in 2013, Gate (formerly Gate.io, rebranded and moved to Gate.com in May 2025) is one of the largest cryptocurrency exchanges in the world. However, Canada is on the list of restricted locations in the Gate user agreement, alongside 30+ other jurisdictions. Gate has not served Canadians since earlier reports of Canadian accounts moving to withdrawal-only around April 2022, so we would not recommend trying to use it.
Coins
A modest selection including Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Solana and Shiba Inu.
Past tense: 2,053 base assets across 2,202 tradable spot pairs (public API, 2026-10-02), none of them open to Canadians. USDT was never part of a Canadian offer.
Fees
0.20% single-trade fees, free deposits over $2,000, a 1% fee on smaller Interac deposits, and 1% fiat withdrawal fees.
Past tense: spot base fee 0.2% per pair per the public API (2026-10-02), lower with volume. Free crypto deposits. CAD was never supported.
Pros
Low trading fees
Same-day verification
Multi-currency deposits (CAD, USD, EUR via SEPA)
Crypto-to-crypto trading without intermediate pairs
Thousands of altcoins were available
Advanced trading features and tools
Not available to Canadians, so none of this is usable
Cons
Ceased operating independently in 2023, with all accounts migrated to Bitbuy
The 1% fiat withdrawal fee was always a sore point
Smaller coin selection than rivals
Not allowed in Canada, and no Canadian entity
Mandatory KYC means Canadians cannot sign up, and VPN workarounds risk frozen funds
CAD was never supported
Not beginner-friendly
Security
The wind-down was orderly and regulator-supervised, with no reported loss of customer funds. Its legacy custody arrangement with BitGo and its OSC registration made the handover possible.
that claim was not confirmed here. Gate's FINTRAC MSB registration M20329002 (Gate Technology Corp.) expired 2023-05-31.
Methods To Buy
There is no way to buy crypto through CoinSmart. Former users can log into Bitbuy with their old CoinSmart email, reset the password on first login and use existing Google Authenticator codes. Deposit wallet addresses changed in the migration, so never send crypto to an old CoinSmart address; if you did, contact Bitbuy support with the transaction hash.
Canadians cannot buy crypto on Gate. Account creation requires KYC, and restrictions are enforced based on the country on your ID, so even a VPN won't get you a working account, just one that can be frozen with your funds inside.
App
The platform is gone; its web addresses redirect to Bitbuy and its mobile apps are no longer maintained.
Not applicable to Canadians.
Account Limits
No longer applicable.
No longer applicable. n/a for Canadians, since accounts cannot be opened from Canada.
How Do You Fund And Cash Out CoinSmart And Gate.io In Canada?
CoinSmart: CAD Deposits (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
Free over CAD 2,000; 1% below
Not published
Not published
Not published
CoinSmart: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Fiat withdrawal
1%
Not published
Not published
Not published
All funding ended. Accounts moved to Bitbuy. No CAD funding exists. Canada is a Restricted Location in user agreement clause 2.5. Whether any legacy Canadian account can still withdraw crypto is not stated on an official Gate page, so contact Gate support.
What Do CoinSmart And Gate.io Offer Beyond Buying And Selling?
What Happens To Your Money If CoinSmart Or Gate.io 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.
Gate.io: Gate does not serve Canada, is not on the CSA list, holds no current FINTRAC registration and is not a CIRO member. CIPF never covers crypto. A Canadian with a balance left on Gate has no regulator to appeal to, and the user agreement tells users in restricted locations to stop using the services and lets Gate restrict or close accounts at its discretion. Opening an account through a VPN risks a freeze.
How Are CoinSmart And Gate.io 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.
Gate.io: Any earlier trades or sales on Gate are dispositions for CRA purposes. Keep or export your full trade and transfer history while you still have access, because a restricted account may be closed.
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 Gate.io?
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 Gate.io If
You want an altcoin-heavy exchange: Gate does not serve Canadians, so pick a registered Canadian platform with a deep coin list, such as Kraken.
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.
CoinSmart Status Record
Status
Merged, accounts moved to Bitbuy (announced September 8, 2023)
Operator
Simply Digital Technologies Inc.
CSA record
Original decision October 21, 2021 and amended decision December 21, 2021, both expired
FINTRAC
Registration ceased September 10, 2024
Where it points today
coinsmart.com shows the Bitbuy site, now part of Robinhood
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 Gate.io?
Gate.io is an offshore exchange that is not registered in Canada. Its user agreement lists Canada among its Restricted Locations, next to the United States, mainland China, Singapore, France and Germany. It is on neither the CSA authorized nor the banned list.
No CAD funding turned up, and because Canada is a restricted location, Canadians cannot use it under its own terms. Its public API shows more than 2,000 base assets, which is the usual pull for altcoin hunters, but a big menu is no use behind a closed door.
Gate.io Status Record
Status
Offshore, Canada is a restricted location
Registration
Not registered in Canada
CAD funding
None found
CSA lists
Neither authorized nor banned
For more detail, see my Gate.io page. I do not link to Gate.io for sign-ups, because it is not an option for Canadians.
What Should CoinSmart And Gate.io 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 Gate.io, my notes point to Kraken: registered in Canada with a deep altcoin list, the practical replacement for a Gate-style altcoin menu.
3
Kraken: Best For Lower Fees As You Grow
9.2/10
Best for: Beginners who want to learn, then cheaper trading on Kraken Pro
CSA-registered
Fees Kraken Pro starts at 0.40% maker and 0.80% taker, falling to 0.30% and 0.60% from USD 2,500 of 30-day volume. Instant Buy carries a 1% fee plus a spread.
CAD Funding Free Interac e-Transfer deposits, minimum CAD 5, up to CAD 10,000 per transaction. An Interac e-Transfer withdrawal costs CAD 10.
Coins About 490 (derived from the public API, after removing coins Kraken's Canada list bars)
Safety Payward Canada Inc. is a Restricted Dealer registered with the OSC and every provincial regulator. Its CSA decision is dated April 1, 2025, and it holds a FINTRAC registration. It is not a CIRO member.
Best for: Low flat fees and cheap cash-outs to your bank
CSA-registered
Fees A flat 0.20% on every buy and sell, with no volume tiers and no maker or taker split.
CAD Funding Free Interac e-Transfer and wire deposits. Withdrawals cost CAD 1.50 by Interac e-Transfer (up to CAD 10,000 per transaction) or CAD 4.99 by EFT.
Coins 77 base assets (public API)
Safety Ndax Canada Inc. is an investment dealer with CIRO membership terms imposed on December 19, 2024, the same day as its CSA decision. It also holds a FINTRAC registration.
What Should You Do If You Still Have Something With CoinSmart Or Gate.io?
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.
Gate.io: Do not open a Gate.io account as a Canadian. The user agreement restricts Canada, and a restricted account can be shut down. If you already hold funds there, withdraw them.
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.
What Changed For CoinSmart And Gate.io In October 2026?
Robinhood closed its purchase of WonderFi, the parent of Bitbuy, where CoinSmart's client accounts had been moved.
FINTRAC shows CoinSmart's registration (Simply Digital Technologies Inc.) as ceased.
WonderFi announced that Bitbuy would acquire all CoinSmart client accounts.
Frequently Asked Questions
Is CoinSmart Still An Option For Canadians?
No. CoinSmart stopped operating separately after WonderFi moved all its client accounts to Bitbuy, announced in September 2023.
Is Gate.io Still An Option For Canadians?
No. Gate.io is an offshore exchange that is not registered in Canada and lists Canada as a restricted location in its user agreement.
What Should CoinSmart Users Use Instead?
My notes point to NDAX. Registered Canadian platform with CAD funding and a broad coin list. A flat 0.20% on every buy and sell, with no volume tiers and no maker or taker split.
What Should Gate.io Users Use Instead?
My notes point to Kraken. Registered in Canada with a deep altcoin list, the practical replacement for a Gate-style altcoin menu. Kraken Pro starts at 0.40% maker and 0.80% taker, falling to 0.30% and 0.60% from USD 2,500 of 30-day volume. Instant Buy carries a 1% fee plus a spread.
Which Is Better For Canadians, CoinSmart Or Gate.io?
Neither. CoinSmart no longer operates separately, and gate.io lists Canada as a restricted location. Use a registered platform such as NDAX, Kraken instead.
Do CoinSmart And Gate.io Have Limit Orders?
CoinSmart: Not published Gate.io: Not applicable, Canadians cannot use Gate.
Which Coins Can You Buy On CoinSmart And Gate.io?
CoinSmart: Modest list, closed Gate.io: 2,053 base assets, none open to Canadians
Is The Spread The Fee On CoinSmart And Gate.io?
CoinSmart: No longer applicable. Gate.io: Not applicable.
Does CIPF Cover My Crypto On CoinSmart Or Gate.io?
CoinSmart: CIPF never covers crypto, and this platform no longer serves Canadians. Gate.io: CIPF never covers crypto, and Gate is not a CIPF member.
Are CoinSmart And Gate.io Available In Every Province?
CoinSmart: No longer available in any province. Gate.io: None, Canada is a Restricted Location.
Do Interac Deposits Work On Weekends On CoinSmart And Gate.io?
CoinSmart: No longer applicable. Gate.io: No Interac e-Transfer, CAD was never supported.
What Is The Minimum Buy On CoinSmart And Gate.io?
CoinSmart: No longer applicable. Gate.io: Not applicable.
Can A Business Use CoinSmart Or Gate.io?
CoinSmart: No longer applicable. Gate.io: Not applicable, Canada is a Restricted Location.
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.
