Warning: Neither platform is available to Canadians. Uphold exited Canada on June 11, 2025, and Canadian accounts were wound down with a withdrawal deadline of September 8, 2025. CoinField is not a legitimate operating exchange anywhere, it collapsed in 2023, left customer withdrawal requests unfulfilled, and in 2025 Ontario's Capital Markets Tribunal permanently banned it and ordered over $3 million in combined penalties, disgorgement and costs. Scam impostor sites now operate under the CoinField name. If you were a CoinField customer with unmet withdrawals, report your experience to the OSC. This comparison is preserved for historical reference only.
In this comparison, we examine Uphold and CoinField, two cryptocurrency exchanges that once served the Canadian market. Uphold was a multi-asset platform offering 200+ cryptocurrencies, precious metals and national currencies, before exiting Canada in June 2025. CoinField is permanently banned from Ontario’s capital markets, not a legitimate operating exchange anywhere. Neither is available to Canadians in 2026.
Uphold Vs Coinfield: Which Is Better For Canadians?
Neither is an option for Canadians today. Uphold stopped supporting accounts for Canadian residents on June 11, 2025 and says it hopes to return. Coinfield shut down in 2023, and in January 2025 Ontario's Capital Markets Tribunal permanently banned its operators and ordered a CAD 2.4 million penalty. I recommend Coinbase instead (9.8/10, #1 on my list): open a Coinbase account.
How Do Uphold And Coinfield 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.
Uphold Vs Coinfield: Master Spec Table
Uphold
Coinfield
Winner
Company
Uphold Operating Canada Ltd. (FINTRAC). Uphold Worldwide Ltd. filed a pre-registration undertaking 2023-03-27 and withdrew it 2025-05-29. HQ, founder, funding: Not published.
Manticore Labs OU (Estonia, operating as Coinfield) and Manticore Labs Inc. Platform began 2018. Founders and funding: Not published.
Depends
Regulation
FINTRAC MSB M21639172 Expired 2026-01-27. CSA undertaking withdrawn 2025-05-29. Not on the CSA authorized or banned list.
FINTRAC: Manticore Labs OU M22092923 Revoked 2023-11-10; M20735914 Ceased 2021-10-27; CFX Labs Corp. M18747690 Ceased 2019-10-15. Permanent Ontario market ban 2025-01-30. Not on CSA banned page.
Tie
Assets
200+ coins plus metals and national currencies, not accessible from Canada.
About 20 coins offered, including BTC, ETH, XRP, XLM and USDT.
Depends
Price
Spread, historically about 1.8% on crypto for Canadian users, more on metals.
Maker 0.15%, taker 0.25%, plus 2% Interac deposit and 2.5% Interac withdrawal fees.
Depends
CAD In
No longer available to Canadians. Deposits ended.
Interac e-Transfer deposits cost 2%.
Depends
CAD Out
Interac only, CAD 10,000 per transaction, CAD 100,000 per day, for balances left after the deadline.
Interac withdrawals cost 2.5%. The platform shut down without meeting all customer withdrawal requests.
Depends
Crypto In And Out
No longer available to Canadians
No longer available to Canadians
Depends
Custody
Roughly 90% in cold storage with reserve information published, per old row. Remaining Canadian crypto was converted to CAD after 2025-09-08.
Claimed cold storage and multi-signature. The tribunal found assets were insufficient to meet withdrawals. At least 1,275 Ontario clients held about CAD 2.5M at end of 2022.
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
No longer available to Canadians
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
iOS about 4.6; Google Play Not verified. Login and CAD withdrawal only for Canadians.
What Are The Key Differences Between Uphold And Coinfield?
Uphold Vs Coinfield: Side By Side
Uphold
Coinfield
Description
Uphold is a multi-asset platform offering 200+ cryptocurrencies, precious metals and national currencies, with its signature Anything to Anything trading. As of 2025-06-11 it stopped supporting Canadian accounts due to changes in its operating environment, and says it is working on plans to return in the future.
CoinField was an Estonia-based cryptocurrency exchange, operated by Manticore Labs OU, that served Canadians from 2018 until its collapse. It shut down in 2023 without meeting all customer withdrawal requests, and in January 2025 Ontario's Capital Markets Tribunal permanently banned its operators from Ontario's capital markets and ordered a penalty of about CAD 2.4 million for unregistered trading and misleading investors.
Coins
200+ cryptocurrencies, not accessible from Canada.
Around 20 coins including Bitcoin, Ethereum, XRP, Stellar and USDT, but without popular assets like Cardano, Solana and Dogecoin.
Fees
Uphold priced trades with spreads, historically around 1.8% on crypto for Canadian users and higher on metals, and its fees always ran high compared with dedicated crypto exchanges.
CoinField charged a 2% Interac e-Transfer deposit fee, a 2.5% Interac withdrawal fee, and 0.15% maker and 0.25% taker fees, which were high compared to competitors.
Pros
Wide range of cryptocurrencies, including lesser-known assets
Multi-asset trading across crypto, metals and currencies
Anything to Anything swaps in seconds
Recurring buy and sell orders
None. The platform no longer exists, and there is no legitimate way to open a CoinField account.
Cons
Not available in Canada since 2025-06-11
High spreads compared to dedicated exchanges
Canadians who missed the 2025-09-08 withdrawal deadline had remaining crypto converted to CAD
Shut down in 2023 with customer withdrawal requests left unfulfilled
Found by Ontario's Capital Markets Tribunal to have engaged in unregistered trading, illegal distribution and misleading investors
Permanently banned in Ontario, with a CAD 2.4 million penalty plus disgorgement ordered in 2025
The tribunal found it lacked sufficient crypto assets in custody to satisfy withdrawals while telling customers otherwise
Scam websites impersonate the CoinField name
Security
2FA required before transferring funds, roughly 90% of digital assets in cold storage, compliance with OFAC and Bank Secrecy Act requirements, published reserve information and regular audits.
CoinField marketed itself as a secure exchange using cold storage, multi-signature wallets and encryption. The regulatory record says otherwise: customer funds were not safe. It is a textbook case for holding your own coins in your own wallet.
Methods To Buy
Canadians cannot buy on Uphold. The withdrawal deadline was 2025-09-08 and remaining crypto was converted to CAD, which accounts with balances can withdraw by Interac. Do not leave it sitting there, since unclaimed funds may eventually be surrendered under unclaimed property laws. Vault users can withdraw through the Vault Recovery Site while they hold their private keys; Uphold keeps its Vault key for only 12 months after account closure.
There is no way to buy crypto through CoinField. A website claiming to be CoinField and accepting deposits is a scam: the OSC warned about an impostor site using the name.
App
iOS app rated about 4.6. Google Play rating Not verified (our old rows disagree). For Canadians the app only serves to log in and withdraw CAD.
CoinField's website and apps went offline in 2023 and have not returned.
Account Limits
New Canadian accounts cannot be opened. Existing accounts are CAD-withdrawal-only via Interac, with limits of CAD 10,000 per transaction and CAD 100,000 per day.
No longer applicable.
How Do You Fund And Cash Out Uphold And Coinfield In Canada?
Uphold: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
Not published
Not published
CAD 10,000 per transaction, CAD 100,000 per day
Not published
Coinfield: CAD Deposits (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
2%
Not published
Not published
Not published
Coinfield: CAD Withdrawals (When It Operated)
Method
Fee
Minimum
Maximum
Speed
Interac e-Transfer
2.5%
Not published
Not published
Not published
Canadian crypto remaining after 2025-09-08 was converted to CAD. Withdraw by logging in. Unclaimed funds may eventually be surrendered under unclaimed property laws. Platform closed in 2023. Never send funds to a site using the CoinField name.
What Do Uphold And Coinfield Offer Beyond Buying And Selling?
Uphold Only
Anything to Anything: One-step swaps between crypto, metals and currencies. Not available to Canadians.
Vault: Self-held Vault accounts can be recovered through the Vault Recovery Site while you hold your private keys; Uphold keeps its Vault key 12 months after closure.
What Happens To Your Money If Uphold Or Coinfield Fails?
Uphold: Uphold's pre-registration undertaking was withdrawn and its Canadian MSB registration expired, so no Canadian regulator covers a leftover balance. Crypto left after 2025-09-08 was converted to CAD and can still be withdrawn by Interac; do not leave it there, because unclaimed funds may be surrendered under unclaimed property laws. Vault users must act within the 12-month key window. Uphold says it hopes to return, but no date exists.
Coinfield: Coinfield is the failure case: the platform shut in 2023 without meeting customer withdrawal requests, and the tribunal found it lacked the crypto assets to satisfy them. The sanctions are a permanent Ontario market ban, a CAD 2.4M penalty, CAD 537,034.46 disgorgement and CAD 89,538 costs. No CIPF or other scheme covers crypto, so affected customers should watch for official notices and ignore anyone offering paid recovery.
How Are Uphold And Coinfield Treated For Tax In Canada?
Uphold: The forced conversion to CAD after 2025-09-08 was a disposition, and trades on Uphold were dispositions for CRA purposes. Export your full history while you can still log in. Export formats: Not published.
Coinfield: Trades on Coinfield were dispositions for CRA purposes. Keep your records, and speak to an accountant about any crypto you could not withdraw. 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, Uphold Or Coinfield?
Choose Uphold 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 Coinfield 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 Uphold?
Left Canada
Uphold stopped supporting accounts for Canadian residents on June 11, 2025, and it says it hopes to return. It never appeared on the CSA's list of authorized platforms. It had filed a Pre-Registration Undertaking with the CSA on March 27, 2023, and delivered a notice of withdrawal on May 29, 2025, a couple of weeks before it pulled the plug.
Its FINTRAC registration for the Canadian entity, UPHOLD OPERATING CANADA LTD., is listed as expired on January 27, 2026. So there is no regulated Uphold service for Canadians today, whatever the website says about a comeback.
What Should Uphold Users Do Now?
If you still have a balance, the clock has already run. The withdrawal deadline for Canadian users was September 8, 2025, and after that date any crypto still in an account was converted to CAD. Accounts with balances can now only withdraw CAD by Interac, with limits of CAD 10,000 per transaction and CAD 100,000 per day.
Log in, withdraw the CAD, and move on. Do not wait for a relaunch before acting on money that is already yours.
What Happened To Coinfield?
Closed
Coinfield was an unregistered, Estonia-based operator that served Canadians from 2018 and shut down in 2023. It failed to let Ontario users withdraw their money. At least 1,275 Ontario clients held about CAD 2.5 million on the platform at the end of 2022.
On January 30, 2025, Ontario's Capital Markets Tribunal issued its sanctions decision: a permanent ban from Ontario's markets, a CAD 2.4 million administrative penalty, CAD 537,034.46 in disgorgement and CAD 89,538 in costs. The platform is closed, and there is nothing to sign up for.
What Should Coinfield Users Do Now?
There is no live Coinfield service. Treat any website using the name that takes deposits as a scam. The whole episode is a clear example of why long-term holdings belong in a wallet you control, and why an exchange that is not registered in Canada carries risk you cannot see.
What Should Uphold And Coinfield Users Use Instead?
Wealthsimple Crypto: An Available Option
Registered mainstream Canadian platform with simple CAD funding for a casual multi-asset buyer. That is the nearest fit for Uphold users.
Wealthsimple Crypto: key facts
Item
Wealthsimple Crypto
Trading Cost
Flat 0.5% fee plus a spread on market orders (limit orders carry no spread); the fee schedule's example is 0.50% plus 1.00% spread, or 1.50%. With Active Trader status the spread is 0% and the fee runs 0.5% under CAD 10,000 of 30-day volume, down to 0.05% at the top tiers. CAD 1 surcharge on orders under CAD 100.
CAD Funding
Free Interac e-Transfer, up to CAD 10,000 each
Coins
170+
Registration
CIRO investment dealer member; CSA decision December 18, 2023 (amended December 22, 2025)
Sign-Up Offer
None confirmed
Wealthsimple takes free Interac e-Transfer deposits of up to CAD 10,000 each, or whatever your bank allows. Crypto withdrawal limits are up to CAD 10,000 a day and CAD 25,000 a week across all coins, according to a summary of the help centre. A CAD withdrawal fee was not found.
Wealthsimple Investments Inc. is a CIRO investment dealer member and sits on the CSA list (decision December 18, 2023, amended December 22, 2025). Wealthsimple says crypto is held in trust and that its custodial partners each carry over $75M of cold storage coverage. Cash is covered by CIPF, crypto is not.
Wealthsimple's iOS app is rated 4.62 across 129,832 Canadian ratings, a very large base, and Google Play shows 4.1 from 81K reviews.
Wealthsimple Crypto: Pros And Cons
Pros
With Active Trader status the spread drops to 0% and the fee can fall to 0.05%
Free Interac e-Transfer
CIRO investment dealer member
170+ coins
Sits next to your other Wealthsimple accounts
Cons
Without Active Trader status you pay 0.5% plus a spread on market orders
CAD 1 surcharge on orders under CAD 100
Crypto is not covered by CIPF
30% of staking rewards go to Wealthsimple on Core and Premium
Registered Canadian platform with CAD funding and a CIRO investment dealer membership. That is the nearest fit for Coinfield users.
NDAX: key facts
Item
NDAX
Trading Cost
Flat 0.20% on every buy and sell, with no volume tiers
CAD Funding
Free: Interac e-Transfer (0 to 30 minutes) and wire
Coins
77 base assets (public API)
Registration
CIRO investment dealer member (terms imposed December 19, 2024); CSA decision; FINTRAC MSB
Sign-Up Offer
None verified
NDAX takes free Interac e-Transfer deposits, usually processed within 0 to 30 minutes, and free wires in 0 to 1 business days. Cash-outs cost CAD 1.50 by Interac (up to CAD 10,000 per transaction) and CAD 4.99 by direct bank deposit.
Ndax Canada Inc. is a CIRO investment dealer member (terms imposed December 19, 2024), has a CSA decision of the same date and is a FINTRAC-registered MSB. NDAX describes cold and hot wallet storage with multi-signature authorization and MPC protection. No insurance dollar figure or proof of reserves appeared on the pages checked.
NDAX's apps rate 4.75 across 15,225 Canadian App Store ratings and 4.7 on Google Play from 5.85K reviews.
NDAX: Pros And Cons
Pros
Flat 0.20% fee, no tiers
Free Interac and wire deposits
CIRO investment dealer member
77 assets
Highly rated apps
Cons
Interac cash-out costs CAD 1.50 and EFT cash-out CAD 4.99
No insurance figure or proof of reserves published
What Changed For Uphold And Coinfield In October 2026?
: Wealthsimple updated its crypto fee schedule: 0.5% flat plus spread, Active Trader tiers down to 0%, and a CAD 1 surcharge on small orders.
: The CSA issued an amended decision for Wealthsimple Investments Inc.
: Withdrawal deadline for Canadian Uphold users; remaining crypto was converted to CAD afterwards.
: Uphold stopped supporting accounts for Canadian residents.
: Uphold delivered its notice of withdrawal from the CSA undertaking process.
: Ontario's Capital Markets Tribunal issued its sanctions decision against the Coinfield operators.
Frequently Asked Questions
Is Uphold Available In Canada In 2026?
No. Uphold stopped supporting Canadian residents on June 11, 2025, and says it hopes to return. It is not on the CSA's list of authorized platforms.
Can I Still Get My Money Out Of Uphold?
Accounts with balances can withdraw CAD by Interac, with limits of CAD 10,000 per transaction and CAD 100,000 per day. The deadline to move crypto was September 8, 2025, and anything left after that was converted to CAD.
Is Coinfield Safe To Use?
No. Coinfield shut down in 2023, and in January 2025 Ontario's Capital Markets Tribunal permanently banned its operators and ordered a CAD 2.4 million administrative penalty.
What Did The Tribunal Order Against Coinfield?
A permanent Ontario market ban, a CAD 2.4 million administrative penalty, CAD 537,034.46 in disgorgement and CAD 89,538 in costs, in a sanctions decision dated January 30, 2025.
What Should I Use Instead Of Uphold?
Registered mainstream Canadian platform with simple CAD funding for a casual multi-asset buyer. The registered options with verified data on this page are Wealthsimple Crypto, NDAX.
Do Uphold And Coinfield Have Limit Orders?
Uphold: Not applicable. Coinfield: Not published
Which Coins Can You Buy On Uphold And Coinfield?
Uphold: 200+ globally, none for Canadians Coinfield: About 20 coins, closed
Is The Spread The Fee On Uphold And Coinfield?
Uphold: No longer applicable. Coinfield: No longer applicable.
Does CIPF Cover My Crypto On Uphold Or Coinfield?
Uphold: CIPF never covers crypto, and this platform no longer serves Canadians. Coinfield: CIPF never covers crypto, and this platform no longer serves Canadians.
Are Uphold And Coinfield Available In Every Province?
Uphold: No longer available in any province. Coinfield: No longer available in any province.
Do Interac Deposits Work On Weekends On Uphold And Coinfield?
Uphold: No longer applicable. Coinfield: No longer applicable.
What Is The Minimum Buy On Uphold And Coinfield?
Uphold: No longer applicable. Coinfield: No longer applicable.
Can A Business Use Uphold Or Coinfield?
Uphold: No longer applicable. Coinfield: 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.
