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. KuCoin is permanently banned from Ontario's capital markets and listed as a banned platform nationwide by the CSA since June 2022. This comparison is preserved for historical reference only.
CoinSmart and KuCoin are two popular cryptocurrency exchanges with different offerings for Canadian users. CoinSmart offered a beginner-friendly interface with strong Canadian compliance; KuCoin had an extensive altcoin selection. Neither is available to Canadians in 2026.
CoinSmart Vs KuCoin: 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. KuCoin is on the CSA banned list after the Ontario Securities Commission ordered it permanently out of Ontario's markets in June 2022, and other provinces reciprocated. I recommend Coinbase instead (9.8/10, #1 on my list): open a Coinbase account.
How Do CoinSmart And KuCoin 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 KuCoin: Master Spec Table
CoinSmart
KuCoin
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.
Banned entities: Mek Global Limited (Seychelles) and PhoenixFin Pte. Ltd. (Singapore). No Canadian entity. Founders and funding: Not published.
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.
Maker/taker from about 0.1% / 0.1%, VIP tiers, 20% off with KCS. Not for Canadians.
Depends
CAD In
Free over $2,000; 1% fee on smaller Interac deposits. CAD, USD and EUR (SEPA) accepted.
No longer available to Canadians
Depends
CAD Out
1% fiat withdrawal fee.
No longer available to Canadians
Depends
Crypto In And Out
No longer available to Canadians
Free crypto deposits, variable withdrawal fees. Transfers from KuCoin to regulated Canadian exchanges may be blocked.
Depends
Custody
BitGo custody, legacy arrangement.
Hacked for $275M in 2020 (about $200M recovered). Not recognized in Canada; no recourse.
Depends
Verification (KYC)
No longer available to Canadians
No longer available to Canadians
Depends
Account Types
No longer available to Canadians
No longer available to Canadians
Depends
Provinces
No longer available to Canadians
Banned in Ontario and reciprocated elsewhere. KuCoin's terms (updated 2026-09-29) name Ontario and British Columbia as Restricted Locations, not all of Canada.
Depends
Extra Products
No longer available to Canadians
No longer available to Canadians
Depends
Tax Tools
No longer available to Canadians
No longer available to Canadians
Depends
App
Apps no longer maintained; addresses redirect to Bitbuy.
What Are The Key Differences Between CoinSmart And KuCoin?
CoinSmart Vs KuCoin: Side By Side
CoinSmart
KuCoin
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.
KuCoin is a Seychelles-based cryptocurrency exchange known for its huge altcoin selection, futures trading and trading bots, serving tens of millions of users worldwide. It is not available to Canadians: it is permanently banned from Ontario's capital markets, appears on the CSA's banned platform list, and its mandatory identity verification blocks Canadian sign-ups.
Coins
A modest selection including Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Solana and Shiba Inu.
700+ coins globally, not accessible from Canada.
Fees
0.20% single-trade fees, free deposits over $2,000, a 1% fee on smaller Interac deposits, and 1% fiat withdrawal fees.
Low maker/taker trading fees starting around 0.1% and 0.1%, decreasing with VIP level. Free crypto deposits, variable withdrawal fees. KCS holders got a 20% discount on trading fees.
Pros
Low trading fees
Same-day verification
Multi-currency deposits (CAD, USD, EUR via SEPA)
Crypto-to-crypto trading without intermediate pairs
Huge range of altcoins
Advanced order types, futures, lending and trading bots
Low fees
Licensed in some regions (MiCA in the EU via Austria, AUSTRAC in Australia)
None of this is available to Canadians
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
Permanently banned from Ontario's capital markets with about CAD 2 million in penalties, a ruling reciprocated across Canada
Mandatory KYC since July 2023 ended anonymous trading
Warning: using a VPN to get around the block violates KuCoin's terms, and KuCoin can freeze accounts and withhold funds from users dodging geo-blocks
Hacked for $275 million in 2020
Guilty plea in the US with about $297 million in penalties
Regulated Canadian exchanges have blocked incoming transfers from KuCoin
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.
$275 million was stolen in the 2020 hack attributed to North Korean hackers, with around $200 million later recovered. 2FA available, mandatory KYC and tightened compliance since 2023.
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 KuCoin. Verification requires ID from a supported country, and Canada is not one. Legacy users should withdraw, but transfers arriving directly at regulated Canadian exchanges from KuCoin may be blocked, so route through your own wallet first.
App
The platform is gone; its web addresses redirect to Bitbuy and its mobile apps are no longer maintained.
The app works in supported countries but is inaccessible to Canadians.
Account Limits
No longer applicable.
Not applicable for Canadians. Elsewhere limits depend on KYC tier; unverified legacy accounts can only sell or withdraw.
How Do You Fund And Cash Out CoinSmart And KuCoin 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 funding for Canadians. Legacy users can only withdraw.
What Do CoinSmart And KuCoin Offer Beyond Buying And Selling?
KuCoin Only
Futures, lending and trading bots (historic): KuCoin offered futures, lending and bots globally. Not available to Canadians.
What Happens To Your Money If CoinSmart Or KuCoin 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.
KuCoin: KuCoin is banned by Canadian regulators, so there is no registered Canadian entity, no CIPF cover and no complaint route that gets your money back. If you hold funds, withdraw to a wallet you control before sending anywhere else, because transfers straight to Canadian exchanges may be blocked. Warning: using a VPN violates its terms and can freeze your account. It was also hacked for $275 million in 2020.
How Are CoinSmart And KuCoin 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.
KuCoin: Trades on KuCoin were dispositions for CRA purposes. Export your 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, CoinSmart Or KuCoin?
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 KuCoin 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.
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 KuCoin?
KuCoin is on the CSA banned list. On June 21, 2022 the Ontario Securities Commission ordered it permanently out of Ontario's markets, with a CAD 2,000,000 administrative penalty and CAD 96,550.35 in costs, and other provinces reciprocated. I found no KuCoin or Mek Global entry in the FINTRAC registry.
KuCoin's own Terms of Use, updated September 29, 2026, name Ontario and British Columbia among the Restricted Locations but do not name all of Canada. That detail does not make it safe. A platform banned by the regulators is not one I will point anyone to.
KuCoin Status Record
Status
Banned in Canada (CSA banned list)
Decision
Ontario Securities Commission, June 21, 2022, reciprocated in other provinces
Penalty
CAD 2,000,000 plus CAD 96,550.35 in costs
FINTRAC
No registry entry found
Its own terms
Name Ontario and British Columbia as Restricted Locations
For more detail, see my KuCoin page. I do not link to KuCoin for sign-ups, because it is not an option for Canadians.
What Should CoinSmart And KuCoin 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 KuCoin, my notes point to Kraken: registered Canadian dealer with wide coin choice, versus a platform Canadian regulators have banned.
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 KuCoin?
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.
KuCoin: If you still hold coins on KuCoin, the regulators' ban is about opening new business, so check KuCoin's own notices for withdrawal options and move what you hold to a platform registered here.
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 KuCoin 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.
The Ontario Securities Commission permanently banned KuCoin from Ontario's markets with a CAD 2,000,000 penalty.
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 KuCoin Still An Option For Canadians?
No. KuCoin is on the CSA banned list after the Ontario Securities Commission ordered it permanently out of Ontario's markets in June 2022, and other provinces reciprocated.
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 KuCoin Users Use Instead?
My notes point to Kraken. Registered Canadian dealer with wide coin choice, versus a platform Canadian regulators have banned. 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 KuCoin?
Neither. CoinSmart no longer operates separately, and kuCoin is on the CSA banned list. Use a registered platform such as NDAX, Kraken instead.
Do CoinSmart And KuCoin Have Limit Orders?
CoinSmart: Not published KuCoin: Yes globally, not for Canadians.
Which Coins Can You Buy On CoinSmart And KuCoin?
CoinSmart: Modest list, closed KuCoin: 700+ globally, none for Canadians
Is The Spread The Fee On CoinSmart And KuCoin?
CoinSmart: No longer applicable. KuCoin: No longer applicable.
Does CIPF Cover My Crypto On CoinSmart Or KuCoin?
CoinSmart: CIPF never covers crypto, and this platform no longer serves Canadians. KuCoin: CIPF never covers crypto, and this platform no longer serves Canadians.
Are CoinSmart And KuCoin Available In Every Province?
CoinSmart: No longer available in any province. KuCoin: Banned in Ontario and reciprocated across Canada.
Do Interac Deposits Work On Weekends On CoinSmart And KuCoin?
CoinSmart: No longer applicable. KuCoin: No longer applicable.
What Is The Minimum Buy On CoinSmart And KuCoin?
CoinSmart: No longer applicable. KuCoin: No longer applicable.
Can A Business Use CoinSmart Or KuCoin?
CoinSmart: No longer applicable. KuCoin: 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.
