Our Review
Netcoins offers 20+ coins, a Bitcoin cash back Visa Card, free Interac E-Transfers and has good security since it's owned by a publicly traded company. For fees, it had a total BTC purchase fee of 1.24% (6th overall) and a BTC spread of 1.67% (11th overall).
Overall, you should consider Netcoins if you want to get their Prepaid Visa Card. If you just want the cheapest place to buy Bitcoin and altcoins in Canada, there are better exchanges available (see alternatives).
Where It Shines:
Where It Falls Short:
Overview
Updated: Apr 8, 2022 | | Total Fees & Spreads: Mar 02, 2022
Coins Offered | 20+ |
Total BTC Purchase Fee | 1.24% (6th place) |
Total BTC Selling Fee | 1.42% (8th place) |
BTC Spread | 1.67% (11th place) |
Trading Fee | 0.50% |
Funding Methods | E-Transfer, Wire Transfer, and USD |
CAD Deposits | Free |
CAD Withdrawals | Free |
BTC Withdrawal Fee | 0.00025 BTC |
Notable Features | Beginner-friendly, Bitcoin cash back Visa, owned by a publicly traded company |
Video Review
Don't want to read? Watch the video review published on Mar 14, 2022. Some info in the video could be outdated so refer to the rest of the blog post as well.
User Interface
Updated: May 7, 2022
About Netcoins
Updated: Apr 8, 2022
Netcoins is a Vancouver-based cryptocurrency exchange and their mission "is to make it easy for anyone to buy and sell crypto in a trusted environment."
Originally, the company started out by providing a Virtual Bitcoin ATM service to over 170,000 stores across 3 continents. Eventually, they pivoted to what they are today, a cryptocurrency trading platform.
On Netcoins, you'll find 20+ coins and a very easy to use platform regardless of experience.
Some Stats:
- Headquarters in Vancouver 🇨🇦
- Founded in 2014
- Owned by BIGG Digital Assets (publicly traded)
- 30+ employees according to LinkedIn
Fees & Spread
Updated: Mar 30, 2022
We tested 18 Canadian cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.
- Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference
- Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Reference Price Difference
You can compare all platforms from the price test on this page.
Netcoins Fees | Amount |
|---|---|
*Total BTC Purchase Fee | 1.24% (6th place) |
*Total BTC Selling Fee | 1.42% (8th place) |
Trading Fee | 0.50% |
CAD Deposits | Free |
CAD Withdrawals | Free |
BTC Withdrawal Fee | 0.00025 BTC |
Other Fees | N/A |
Price Test & Spread
Price Test (On Mar 2, 2022) | Prices |
|---|---|
BTC Spread | 1.67% (11th place) |
BTC Buy Price | $56,189 |
BTC Sell Price | $55,263 |
Ref. Price Difference | Buy: +0.74% Sell: -0.92% |
Reference Price (Google) | $55,774 |
What We Found
All fees considered, Netcoins had a total BTC purchase fee of 1.24% (6th place out of 18), a total BTC selling fee of 1.42% (8th place) and a BTC spread of 1.67% (11th place). The prices are fair however, it's not the cheapest or best place to buy Bitcoin and crypto in Canada.
NDAX.io had the lowest total BTC purchase fee at 0.49%. VirgoCX was second at 0.66% and Newton was third at 0.69%.
Deposit & Withdrawals
Updated: Mar 30, 2022
CAD Deposit Methods
Type | Fee | Time | Limits (24 hours) |
|---|---|---|---|
Interac e-Transfer | Free | Nearly Instant | Min $10 - Max $10,000 |
Wire Transfer | Free | 0-3 Business Days | Min $500 |
🇺🇸 USD Wire | Free | 0-3 Business Days | Min $500 |
Credit / Debit Card (via Simplex a 3rd-party platform) | 3%-20% (min $10 USD) | Instant | Min $62 - Max $24,986 |
CAD Withdrawal Methods
Type | Fee | Time | Limits (24 hours) |
|---|---|---|---|
Interac e-Transfer | Free | 0-3 Hours | Min $10 - Max $10,000 |
Wire Transfer | Free | 0-3 Business Days | Min $1,000 |
🇺🇸 USD Wire | Free | 0-3 Business Days | Min $1,000 |
Crypto Withdrawal Fees
Type | Fee | Minimum Withdrawal |
|---|---|---|
Bitcoin | 0.00025 BTC | 0.0005 BTC |
Ethereum | 0.005 ETH | 0.001 ETH |
USDC | 40 USDC | 80 USDC |
XLM | 1 XLM | 2 XLM |
What We Found
Netcoins has fast and free funding methods with Canadian dollars. The withdrawals for E-Transfers are slightly slower to process bu still good. You also have the option to fund and withdraw USD.
Platform & Features
Updated: Apr 8, 2022
List of Features:
- iOS, Android and Web app
- 20+ cryptocurrencies
- Market & Limit Orders
- Netcoins Pay Visa Card
- Referral Program
1. iOS, Android and Web App
2. Trading Interface
- Instant buy and sell
- Limit orders
- Simple charts
3. Coins Offered
Netcoins currently offers 20+ cryptocurrencies:
- Bitcoin
- Ethereum
- Litecoin
- Bitcoin Cash
- Dogecoin
- Polygon
- Shiba Inu
- Decentraland
- Fantom
- USDC
- XRP
- Stellar
- Alogrand
- Avalanche
- EOS
- Ethereum Classic
- And more
4. Netcoins Pay (Visa Card)
- A free, prepaid visa card with no annual fees
- Get 1% Bitcoin cash back on all purchases (Promo: 3% back for your first 90 days capped at $100)
See our full Netcoins Visa review or compare the best crypto credit cards in Canada
5. Referral Program
Refer a friend and get $60 once they trade $100 or more. They get $60 too.
6. Other Netcoins Features
- Set USD or CAD as the base currency for your account
- Price Alerts
Netcoins Card
- 1% cash back on all purchases (Promo: 3% back in your first 3 months capped at $100)
- Physical and virtual card (use online and in-store)
- Card arrives in 5-7 business days
- Payments are made using the CAD balance in your Netcoins account
- Rewards distributed once per month (Shakepay Card is every 24-48 hours)
- No annual fees
- The card is a PrePaid Visa so there is no interest, loans, or credit check
See our full Netcoins Visa review or compare the best crypto credit cards in Canada
Security
Updated: Mar 30, 2022
Company Security Features
- Doesn't say how they store their crypto
- Owned by BIGG Digital Assets a publicly traded company (CSE: BIGG). This comes with regular audits, public financials and an added layer of safety
- Never had any hacks or incidents (founded in 2014)
- FINTRAC Registered: MSB #M15560893
- KYC required (must prove identity to use the platform)
User Security Features
- 2FA
- Address Whitelisting
- View login history for suspicious activity (IP address, device, date, etc)
- Set up authorized devices for logging in
Can You Trust Them?
Yes, Netcoins is considered a safe crypto exchange. They offer 2FA, are owned by a publicly traded company, and have never had any hacks or incidents (founded in 2014).
⚠️ Although this platform is safe, 44% of platforms we tested have had a hack or incident in the past. We strongly recommend storing and protecting your crypto on a hardware wallet or any wallet where you own the private keys.
Customer Support
Updated: Mar 30, 2022
Netcoins offers live support 7 days a week via chat, phone and email. You can also access articles and FAQs in their help center.
Netcoins Compared
RankFi is tracking 18 Canadian cryptocurrency exchanges. Compare the best crypto exchanges in Canada below:
Name | Overall Rank | Coins | CAD Wallet? | Total BTC Purchase Fee | Spread (BTC) | Trading Fee | Website |
|---|---|---|---|---|---|---|---|
1/18 | 70+ | Yes | 0.69% | 1.34% | 0% | ||
 NDAX(#1 overall) | 2/18 | 30+ | Yes | 0.49% | 0.35% | 0.20% | |
3/18 | 60+ | Yes | 0.66% | 1.11% | 0% | ||
4/18 | 600+ | No | 1.60% | 0.00% | 0.10% | ||
5/18 | 700+ | No | 2.82% | 0.00% | 0.10% | ||
6/18 | 2 | Yes | 1.03% | 2.26% | 0% | ||
7/18 | 200+ | Yes | 1.68% | 3.11% | 0% | ||
8/18 | 60+ | Yes | 1.60% | 0.05% | 0.16% / 0.26% | ||
9/18 | 40 | Yes | 2.94% | 3.17% | 1.50% | ||
10/18 | 20+ | Yes | 1.24% | 1.67% | 0.50% | ||
11/18 | 15 | Yes | 1.99% | 0.41% | 0.10% / 0.20% | ||
12/18 | 40 | Yes | 1.23 | 2.63% | 0% | ||
13/18 | 300+ | No | 3.42% | 0.41% | 0.41% | ||
14/18 | 140+ | No | 4.54% | 3.07% | 0% | ||
15/18 | 65+ | No | N/A | 0.05% | 0.40% / 0.60% | ||
16/18 | 16 | Yes | 2.51% | 2.82% | 0.20% | ||
17/18 | 29 | Yes | 2.44% | 4.19% | 0% | ||
 Gate.io [banned] | N/A | 1000+ | No | 2.92% | 0.00% | 0.20% |
Here are the best crypto exchanges for Canadians right now. We assessed 18 platforms across 60 variables and 1080+ data points.
