Is Safe?

March 12, 2022
Blog is a reliable, safe, and secure cryptocurrency exchange operating in a wide range of countries. The exchange follows all relevant financial and risk-management standards in the countries it serves, and customers are unable to use's services unless they provide personal information.

With these factors in mind, as well as its support for over 100 cryptocurrencies, high-level security mechanisms, and lightning-quick price changes, is one of Canada's top crypto exchange platforms, and we strongly advise giving it a try.

What Is is a Singapore-based global cryptocurrency exchange that was founded in 2016. It's a trademark of Foris DAX Asia Pte. Ltd, a Singapore-based company that's a subsidiary of Foris DAX MT (Malta) Limited.

You can use this platform to buy, sell, and trade a wide range of cryptocurrencies using a fiat currency, with minimal transaction fees, and through a variety of payment methods, such as through bank transfer or credit or debit card. In addition, the firm provides a mobile app, a cryptocurrency Visa card, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace.

You can also stake your cryptocurrency, or keep it in a wallet for a certain length of time and earn up to 14.5% interest by using this platform. is a great choice for those wanting to acquire and store cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). charges fees of 0.40% unless you have a high trading volume or a large CRO currency holding, which will lower your fee rates. currently supports 100+ coins and offers advanced trading order types, and it also allows you to trade crypto futures on its platform.

However, if you're a Canadian looking for the best trading experience with the lowest fees, I recommend trying VirgoCX and CoinSmart instead.

Is Safe?

Yes, is a safe crypto trading platform to use.

For starters, the platform has established a “Defense in Depth” online culture, which means that the security measures and procedures put in place by the company are also applied to each aspect of the business. Because of this, the platform has had little to no problems with hacking.

Additionally, all of the user funds are kept in cold storage, in a completely offline setting. The platform uses Ledger Vault, which is an institution-grade custody solution that employs hardware security modules and multi-signature private keys to keep user funds as safe as possible.

The company's cold storage system is insured for around $500 million as well, and this includes direct and indirect claims against custodians, physical damage to cold storage units, and the potential of robbery.

The site also uses hardware security modules (HSM) and multi-signature keys to safeguard its hot wallets. These hot wallets contain a tiny fraction of the firm's total assets, allowing for regular withdrawals without jeopardizing the entirety of the userbase's wealth.

Customer deposits are secured in reputable custodian accounts located all around the world, which are protected by local laws and regulations. For instance, residents of the United States can benefit from the Federal Deposit Insurance Corporation (FDIC)'s insurance coverage on their money.

The platform also uses Amazon Web Services, which offers network firewalls, web app firewalls, controlled TLS encryption across all services, logging, monitoring, real-time analytics, automatic threat identification, analytics that are in real-time, and a variety of security mechanisms tailored for the world's leading banks.

Is Regulated? is a fully regulated cryptocurrency firm that adheres to all necessary financial and risk-management rules in the nations it serves. As a result, users are unable to utilize's services without providing personal information. To use, you must go through a fairly thorough identification procedure.

Is Supported In My Country?

The app is available in numerous countries. However, if cryptocurrency trading is not legal in your country, you will probably be unable to use the mobile app.

Here are some of the countries that currently supports:

Czech RepublicGreeceLithuaniaPortugalSwitzerland

What Are's Security Rules?

Data privacy evaluations are included in the company's fundamental architecture with All deposits on the platform are subject to compliance checks, and staff is on hand to keep track of all crypto payments.

Users can also store their crypto credit locally on the wallet, which is compatible with all user cryptocurrencies stored in cold storage through its collaboration with Ledger Vault. A range of hardware security modules and multi-signature technology is used by to secure the platform.

The following security measures are included: multi-factor authentication, specialized security protocols, protected cold storage, and much more.

Alternative Crypto Exchanges You Can Use is an extremely safe cryptocurrency exchange to use, but if for some reason you don't feel comfortable using it, or you're not located in a supported country, here are a few alternative exchanges that you can use:

1. Kraken – Best In Canada & Lowest Fees

Best In Canada

Total Fees: ~0.16%
Security: Best in class
Customer Support: Excellent

By far the lowest fees in Canada.


Rated 4.9/5

Based in the U.S. and regulated by FINTRAC in Canada, Kraken is undoubtedly the best crypto exchange in Canada. Founded in San Francisco back in 2011, Kraken outperforms the smaller Canadian crypto exchanges due to its significantly lower fees, better customer support, and superior overall trading experience.

For starters, Kraken's fees are far lower than any Canadian exchange, with most users paying 0.16% per transaction (fees decrease down to 0% if you trade high volumes). Kraken's spreads are also absurdly low, typically around $0.10 per Bitcoin, which is 0.0003%. Compare that with the other Canadian exchanges—which routinely charge up to 2% in commissions plus an additional 2% or more in spreads—and it's easy to see why Kraken is such a popular exchange.

Kraken also has better customer support than any other Canadian exchange, and is the only exchange in Canada offering telephone support (available in English, French and Spanish). It supports 100+ cryptocurrencies and has a world-class trading platform and mobile app that's powerful yet easy to use.

If that wasn't enough, Kraken's trading platform is far more professional and robust than its Canadian peers, offering features like NFT trading, staking and support for a wide range of fiat currencies including CAD, USD, EUR, and more.

Overall, Kraken is the best fit for most Canadian crypto investors because it has lower fees, better support and a better trading platform overall. If you're looking to start trading crypto in Canada, we strongly recommend Kraken.


  • Extremely low trading commissions (0.16%)
  • Extremely low spreads (0.0003%)
  • Trade 100+ cryptocurrencies
  • Stake 100+ cryptocurrencies
  • Simple, intuitive user interface
  • Kraken Crypto Watch allows you to keep track of the crypto market
  • NFT trading inside the Kraken app
  • 24/7 customer support via phone, email and live chat
  • Plenty of free educational resources available to users
  • 95% cold storage policy
  • Regulated by FINTRAC


  • Trading Fees: 0.16% (spot trades cost 0.26%)
  • Spreads: 0.0003%
  • Fiat Deposit Fee: 0%
  • Fiat Withdrawal Fee: $10 CAD

Best For

Canadian cryptocurrency investors looking to trade with the industry's lowest fees.

2. Bitbuy – $50 Signup Bonus

Strong Security

Trading fees: 2% (High)
Security: 99% cold storage
Signup bonus: $50

Higher fees, strong security.


Rated 4.2/5

Bitbuy is a decent backup option for Canadians in need of a crypto exchange.

Bitbuy user accounts are verified instantly, but its customer support has degraded over time, and trading fees are quite high at 2%, more than 10x that of Kraken.

To date, Bitbuy has processed more than $4 billion in trades across its 450,000+ Canadian users. It's a Registered Marketplace and Investment Dealer as recognized by the Ontario Securities Commission (OSC), which means it's a highly safe and secure exchange that offers deep liquidity on all order sizes.

I've personally used Bitbuy for over a year, so I've seen them change their platform over time. For example, Bitbuy recently removed its fees on deposits, making the overall trading experience less expensive for users. However, they increased their trading fees to 2% around the same time, negating most or all of those cost savings.

For a limited time, Bitbuy is offering a $50 bonus to Yore Oyster readers who fund their account with $250 or more. If you’re looking for a highly-respected exchange that offers great customer service and a slick mobile app, open a Bitbuy account today.


  • Easy to use for both beginners and more advanced traders
  • Supports 25+ cryptocurrencies
  • Customer support via live chat and email
  • Powerful mobile app (rated 4.6/5 on the App Store)
  • 99% cold storage policy keeps your crypto extra secure


  • Account Opening: Free
  • Trading Fees: 2%
  • INTERAC Deposits: Free
  • INTERAC Withdrawals: 1.5%
  • Bank Wire Deposit: Free
  • Bank Wire Withdrawal: 1.5%
  • Credit Card Transactions: 6.25%

Signup Bonus

$50 bonus when you deposit $250 using the link below

Best For

Investors looking for a smooth trading experience (though be aware of high fees).

Apart from the three mentioned above, there are others, which are slightly more expensive but offer a great user experience and ease of use. Some examples include Newton, Bitbuy and Shakepay.

In Summary is a regulated, safe, and secure cryptocurrency exchange that is available in numerous countries and allows you to buy digital assets through many different means, such as crypto debit card purchases. The platform adheres to all necessary financial and risk-management rules in the nations it serves, and users are unable to utilize's services without providing personal information and linking a bank account.

With this in mind, as well as its support for over 100 cryptocurrencies, high-level security features, and lightning-fast price updates, is one of the top crypto exchange platforms in Canada, and we wholeheartedly recommend using it.

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