The Netcoins Visa Card was released in 2022 and pays you 1% cash back in Bitcoin on every purchase you make.
This review goes in-depth on how it works, the fees, if it's worth it and how it compares to the other crypto credit cards eligible in Canada.
Netcoins Pay Overview
Cash Back Rate | 1% paid in Bitcoin |
Annual Fee | Free |
Payout Frequency | Once a month |
Card Type | Prepaid Visa |
Foreign Transaction Fee | 1.50% |
Interest Rate | None |
Credit Check | None |
Sign Up Promotion | 1) 3% cash back for first 90 days ($100 max) 2) $60 free when you trade $100 |
Other Notes | N/A |
Pros & Cons
Where It Shines:
Where It Falls Short:
About Netcoins
Netcoins is a Canadian cryptocurrency exchange for beginners with fast setup, 20+ coins and free deposits. The platform is built for beginners and has been serving Canadians since 2014.
They are also owned by a publicly traded company called BIGG Digital Assets which adds a layer of safety and reputation.
What Is The Netcoins Card?
Netcoins Pay lets you earn 1% Bitcoin cash back every time to you spend money. It is one of the first rewards cards that lets Canadians start earning Bitcoin on everyday purchases.
The card is a prepaid visa so it works like a debit card but rewards you like a credit card.
How Does It Work?
- Sign up for Netcoins
- Deposit Canadian dollars into your account
- Spend your card in-person or online
- Rewards will be deposited into your account once a month
Application Process
Signing up for Netcoins requires KYC (proving your identity). This is required by law so make sure to have your ID with you. However, the process is quick and takes about 5 minutes. Most accounts will be automatically verified.
Who Is Eligible?
- Canadian residents except for the province of Quebec
- *No credit check or minimum income is required
Sign Up Requirements
- Phone number
- Government Issued Photo ID
- Proof of residency
- Selfie upload
Features
1% Unlimited Cash Back
Get 1% cash back with no limits to how much you can earn. During your first 90 days, you will earn 3% cash back with a cap of $100 earned.
Virtual & Physical Card
Your virtual card will be available instantly and can be used with Apple Pay, Google Pay or Samsung Pay. Your physical card will be delivered within 5-7 business days.
Visa Zero Liability Policy
The Netcoins Card comes with Visa Zero Liability protection which says you're protected against loss, theft, or unauthorized use of the card.
Other Netcoins Features
- Trade 20+ cryptocurrencies
- Referral program
- USD and CAD support
- See our full Netcoins Review
Deposit & Withdrawals
CAD Deposit Methods
Type | Fee | Time | Limits (24 hours) |
|---|---|---|---|
Interac e-Transfer | Free | Nearly Instant | Min $10 - Max $10K |
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) | 3%-205 (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 $10K |
Wire Transfer | Free | 0-3 business days | Min $1K |
🇺🇸 USD Wire | Free | 0-3 business days | Min $1K |
Crypto Withdrawal Fees
Type | Fee | Minimum Withdrawal |
|---|---|---|
Bitcoin | 0.00025 BTC | 0.0005 BTC |
Ethereum | 0.005 ETH | 0.001 ETH |
Fees & Limits | Cell |
Annual Fee | Free |
CAD Deposit Fees | Free |
Foreign Transaction Fees | 1.50% |
Inactivity Fee | $1/month after 90 days (starting 13 months after activation) |
Daily Spend Limit | $8,000 |
ATM Withdrawal Fee | ? |
Max ATM Withdrawal | $2,000 |
ATM Daily Limit | $2,000 |
Bitcoin Withdrawal Fee | 0.00025 BTC |
Other | N/A |
Security
Is Netcoins Trustworthy?
Yes, Netcoins is a safe company. They offer 2FA, are owned by a publicly traded company, and have never had any hacks or incidents (founded in 2014). View all security features in our Netcoins review.
Is The Netcoins Card Insured?
According to the Cardholder Agreement, the Netcoins Card has a Visa Zero Liability Policy which protects against loss, theft, or unauthorized use. The website says, "you will not be liable for any unauthorized use of the card." However, the funds in your Netcoins account are not CDIC insured.
Netcoins Pay Alternatives
We found 9 crypto reward cards eligible in Canada that we are tracking. You can compare all of them below:
Name | Cash Back Rate | Cash Back Form | Annual Fee | Payout Frequency | Website |
|---|---|---|---|---|---|
1% | BTC | Free | 24-48hrs | ||
50 Sats | BTC | Free | Once a month | ||
Netcoins Pay(#1 overall) | 1% | BTC | Free | Once a month | |
5% | CRO | Stake $500k for 6mos | 36 hours | ||
3% | CRO | Stake $50k for 6mos | 36 hours | ||
2% | CRO | Stake $5k for 6mos | 36 hours | ||
1% | CRO | Stake $500 for 6mos | 36 hours | ||
0% | CRO | Free | 36 hours | ||
1% | Crypto, stocks or cash | Free | 7-9 days |
The Bottom Line
Currently, there are only 3 cards in Canada that let you earn Bitcoin and 5 that let you earn crypto. There are not many alternatives but the Netcoins Card offers unlimited 1% cash back with no annual fees.
Reasons to get the Netcoins Card:
- Great sign up bonuses
- Owned by a publicly traded company which adds a layer of safety
- Unlimited 1% cash back paid out in Bitcoin
- No annual fees or deposit/withdrawal fees
Reasons to get something else:
- Payouts are once a month. The Shakepay and Crypto.com Visas have payouts in 24-48 hours
- Better cash back rewards and perks are available. Eg: Crypto.com Cards offers 1%-5% cash back
- If you want to build your credit score, find a regular rewards credit card
Netcoins Pay
- 3% cash back for first 90 days
- $60 free if you trade $100
- Owned by a publicly traded company
Netcoins Pay
Get 3% Cash Back On Your First 90 Days