Security Compliance
NDAX keeps roughly 95% of digital assets in cold storage using Ledger Vault, a big name in crypto security, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up, a policy we like since most exchanges leave it optional. Changing account details like your email or phone number requires submitting a selfie with a handwritten note, an old-school but effective defence against account takeover. As a CIRO member, NDAX also keeps client CAD balances in segregated accounts, though crypto assets themselves aren't covered by deposit insurance.
Beaver Bitcoin is non-custodial, which puts it in the same safety category as Bull Bitcoin and Bitcoin Well rather than traditional exchanges. Because coins are delivered to your wallet immediately, the platform never accumulates customer funds that hackers could target, and there's no scenario where your bitcoin gets stuck behind a frozen withdrawal queue. The trade-off is on you: you must set up and secure your own Bitcoin wallet before your first purchase, so pick a good one and back up your seed phrase properly.
NDAX keeps roughly 95% of digital assets in cold storage via BitGo Trust and Tetra Trust, two institutional-grade custodians approved as part of NDAX's CIRO membership, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up. Changing account details like your email or phone number requires submitting a selfie with a handwritten note — an effective defence against account takeover. As a CIRO member, NDAX keeps client CAD balances in segregated accounts protected under CIPF in the event of insolvency. Crypto assets themselves are not covered by CIPF.
Beaver Bitcoin is non-custodial by design. Bitcoin is sent directly to your wallet, so the platform never holds your funds. The main trust factor is that Beaver successfully routes the BTC to your address, which it does as a standard on-chain transaction you can verify on the public blockchain. FINTRAC registration with full KYC adds regulatory accountability.
Beaver Bitcoin minimises risk by never holding your funds — everything goes straight to your own wallet. NDAX shines in institutional custodial security: 95% of assets in cold storage via BitGo Trust and Tetra Trust, mandatory 2FA, address whitelisting, and CIPF coverage on client fiat. Both approaches are valid depending on whether you prefer non-custody or regulated institutional protection.
Regulatory Compliance
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
Beaver Bitcoin is registered as a Money Services Business with FINTRAC and applies full KYC to every customer, keeping it compliant with Canadian regulations. As a bitcoin-only, non-custodial platform, it operates in the same regulatory lane as Bull Bitcoin rather than the securities-registered dealer path taken by custodial exchanges.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
Beaver Bitcoin is registered with FINTRAC as a Money Services Business and complies with Canadian AML and KYC requirements. Full identity verification is required before purchasing.
Both platforms are registered with FINTRAC as MSBs. NDAX goes further as a full CIRO investment dealer with CIPF coverage on client fiat. Beaver Bitcoin is a FINTRAC-registered MSB, appropriate for a non-custodial Bitcoin-only service.
Customer support
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
Beaver's support is one of its standout features for a company its size. Reviews consistently praise the fast, human responses, and the team personally replies to feedback on Trustpilot, where the platform holds a strongly positive rating. Support runs through their help centre and email. The one recurring complaint worth noting in fairness: a small number of users report account closures during compliance reviews, which is a reality of any KYC platform but stings more when it's your DCA pipeline.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
Beaver Bitcoin offers support via a website contact form. Being a small team, response times may be slower, but the platform is so minimal that most users rarely need help.
NDAX's multi-channel support — live chat, email and phone until midnight on weekdays — is the clear winner. Beaver Bitcoin's contact form is adequate for a platform where the main use case is sending an Interac e-Transfer and watching BTC arrive in your wallet.
Conclusion
Both NDAX and Beaver Bitcoin are solid Canadian platforms, but they serve very different goals.
Choose Beaver Bitcoin if you want Bitcoin only, the simplest possible interface, immediate self-custody on every purchase, and a flat transparent 1.5% fee with no exchange account to manage.
Choose NDAX if you want 60+ coins, the lowest flat fee in Canada at 0.2%, staking on 12+ coins with CIRO approval, CIPF protection on your fiat balance, a 4.7-star iOS app, and phone support until midnight on weekdays.
Winner: NDAX — lower fees, larger coin selection, CIRO/CIPF regulatory protection, and a far more versatile platform for Canadians who want more than Bitcoin.
We recommend choosing NDAX over Beaver Bitcoin for your cryptocurrency trading needs. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither NDAX nor Beaver Bitcoin meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
