Security Compliance
To secure your Uphold account, you can enable two-factor authentication.
Uphold trading platform utilizes cold storage for your safety.
CoinField is one of the safest crypto exchanges in Canada. It has never been hacked. While CoinField may receive bad reviews for their slow customer service, CoinField is certainly a safe and compliant exchange. With CoinField you can have peace of mind knowing you are dealing with an exchange that prides itself on its security and privacy. The exchange utilizes cold storage, secret vaults, multisignature wallets, encryption and isolated servers. Users can enable two-factor authentication on their accounts for extra protection, and users must confirm all withdrawals via email. Signing in on a new device or with a new IP address also triggers a verification email.
Both exchanges emphasize security. Uphold uses two-factor authentication (2FA) and biometric recognition on mobile devices, and stores user assets in secure offline storage. Coinfield also employs 2FA and email confirmations for withdrawals. It boasts of never having been hacked, and it uses cold storage, secret vaults, multisignature wallets, encryption, and isolated servers for enhanced security.
Regulatory Compliance
Uphold is fully regulated in the USA. They are compliant with the Office of Foreign Assets Control (OFAC) and record keeping regulations with the Bank Secrecy Act (BSA). It's Canadian-friendly as well.
Coinfield used to be a FINTRAC-regulated crypto exchange in Canada but recently their registration status was ceased. It's hard to tell at this point how compliant it is but many Canadians still use it.
Uphold is registered with the FINTRAC.
Coinfield is an EU-based exchange but it operates in Canada, adhering to local regulations and guidelines.
Customer support
Uphold has good reviews about their customer service teams. They offer help centres on their website and within the app.
You can contact Uphold’s customer support via their online ticketing system on their website.
CoinField allows users to submit support tickets either online or via email. It does not offer phone support. Customer support is available on weekdays and weekends, but CoinField does not have the fastest customer support – in some cases it can take days for an answer. You can, however, also get in touch via Twitter if you need urgent support.
Unfortunately, CoinField has a poor 2.2-star rating on Trustpilot with 62% bad reviews.
A lot of customers say that they have been waiting weeks to receive their crypto withdrawals.
Uphold offers support via email and a comprehensive FAQ section, with a reputation for responding promptly. Coinfield, in contrast, has been criticized for slower response times, despite offering support via email, online tickets, and Twitter. Both platforms could benefit from offering phone support for urgent issues.
Conclusion
As of July 15th, 2023, Coinfield's website stopped operating properly for Canadians. Also, their registration status of MSB has been ceased by FINTRAC. As a result, we would recommend avoiding this crypto exchange at the moment. Feel free to check alternatives e.g. Bitget or BitBuy. The comparison below is outdated, but we have retained it in the event that the crypto exchange resumes proper operations in Canada. More information here. The comparison below is outdated and kept for educational purposes. Apparently, if you pick between Uphold and Coinfield, go ahead with Uphold.
While both Coinfield and Uphold are strong contenders in the cryptocurrency exchange arena, the title goes to Uphold. Uphold offers a wider selection of cryptocurrencies, metals, and national currencies. Its higher mobile app ratings, strong security measures, and prompt customer service make it an appealing choice for Canadian crypto enthusiasts. Coinfield does have its unique features and is undoubtedly a strong competitor, but it falls short in a few critical areas, including a limited selection of popular cryptocurrencies and slower customer service response times.
We recommend choosing Uphold over Coinfield for your cryptocurrency trading needs. By opting for Uphold through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Uphold nor Coinfield 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.
