Netcoins review
- Fiat currencies
- 2
- Supported assets
- 37
Our verdict
Buy and sell crypto on Netcoins with 0% deposits and free withdrawals.
Netcoins is a Canadian-based cryptocurrency exchange that serves as a good platform for crypto newbies to make their first crypto purchase(s).
The exchange has an easy-to-navigate user interface, makes the Know Your Customer (KYC) process easy and is compliant with a host of Canadian regulators.
For these reasons, plus the fact that it only supports 12 crypto assets, Netcoins is a secure and user-friendly platform for the crypto curious to get their feet wet.
Seasoned crypto enthusiasts may want to look elsewhere, as Netcoins doesn’t provide advanced trading features, nour does the platform enable staking or lending your crypto to earn a yield on it.
Pros
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Flat 0.5% trade fee (plus spreads)
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Free e-transfer and crypto deposits. Free ACH withdrawals.
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Most digital assets held in insured cold storage. Hot wallet assets fully insured.
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Live chat, email and phone support
Cons
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Limited selection of digital assets compared to some exchanges
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Fee for bank wire deposits under $3,000 CAD
Details
Product details
| Product Name | Netcoins Trading Platform |
| Fiat Currencies | CAD, USD |
| Cryptocurrencies | BTC,ETH,ADA,SOL,LTC,BCH,DOT,ATOM,UNI & 28 more |
| Deposit Methods |
Cryptocurrency Interac e-Transfer Bank Wire |
| Trading Fee | 0.5% |
| Deposit Fees |
Interac e-Transfers: None Cryptocurrency: None Bank Wire: None for deposits over $3,000 CAD or $2,000 USD; $30 CAD or $20 - $25 USD for less |
| Withdrawal Fees |
Interac e-Transfers: None Cryptocurrency: Varies Bank Wire: Free for withdrawals over $25,000 CAD or $6,000 USD; $50 CAD or $75 USD for less |
Ratings methodology - how we scored Netcoins
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About Netcoins — company background
Netcoins is a Canadian cryptocurrency exchange based in Vancouver, BC which was founded in 2014. Originally Netcoins was a company offering a virtual Bitcoin ATM solution and operating as a private brokerage service for institutional crypto investors. It transitioned to a cryptocurrency trading platform in September, 2021.
Netcoins operates as a subsidiary to the larger publicly traded company BIGG Digital Assets. It is a registered MSB with FINTRAC, and is fully regulated and registered with the Canadian Securities Administrators (CSA) and BCSC.
Netcoins offers 12 different cryptocurrencies on the exchange. It offers an approachable and reliable option for traders with an added level of transparency through being a subsidiary of a publicly traded company.
Listed Netcoins crypto exchange assets
Netcoins supports over 37 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on Netcoins.
Popular assets on NetcoinsNetcoins fees
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Interac e-Transfers: None Cryptocurrency: None Bank Wire: None for deposits over $3,000 CAD or $2,000 USD; $30 CAD or $20 - $25 USD for less |
| Withdraw funds | Interac e-Transfers: None Cryptocurrency: Varies Bank Wire: Free for withdrawals over $25,000 CAD or $6,000 USD; $50 CAD or $75 USD for less |
Netcoins deposit methods
- Cryptocurrency
- Interac e-Transfer
- Bank Wire
How to sign up on Netcoins exchange
Before you can even get started trading on Netcoins, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Netcoins's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Netcoins account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Netcoins.
Is Netcoins safe?
Netcoins is more regulated than other cryptocurrency exchanges due to it being a subsidiary of a publicly traded company. This can be seen as both a positive and a negative. The exchange is more transparent and has stronger security measures in place, but the trade-off is a more invasive KYC protocol as a result. Users need to submit more sensitive information to create an account than other exchanges.
Past hacks. Netcoins as a cryptocurrency exchange is still in its infancy, but to date, it has not experienced any hacks.
Security audits. Netcoins is a registered MSB with FINTRAC, and is also fully regulated and registered with the Canadian Securities Administrators and BCSC.
Netcoins leverages blockchain analytic and forensic tools BitRank and QLUE as additional safeguards.
Insurance. There is no insurance for users on Netcoins. Users’ accounts do not qualify for Canadian Investor Protection Fund (CIPF) insurance.
Keeping your crypto secure
All centralised exchanges, including Netcoins, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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