Netcoins is a Canadian cryptocurrency exchange and one of the first financial technology companies to offer a Bitcoin ATM.
It was founded in 2014 and is owned by BIGG Digital Assets, a company traded on the CSE under the ticker symbol “BIGG.”
The Netcoins platform supports trading 25+ digital currencies, including Bitcoin, Ethereum, USDC, Avalanche, Algorand, Fantom, Shiba Inu, and more.
You also learn how to get a $50 bonus from CoinSmart.
Netcoins – Summary of Features
Trade several popular coins
Excellent crypto broker for newbies
Up to 0.50% trading fee
Get a $25 bonus when you trade $100
- Offers 25+ different cryptocurrencies
- One-click trading for beginners
- Registered Money Service Business (MSB) with FINTRAC with license #M15560893
- Free deposits and free fiat withdrawals
- Owned by a publicly-traded company – BIGG Digital Assets
How Netcoins Works
Netcoins is designed with newbie cryptocurrency traders in mind. You can easily place a one-click trade or set a limit order if you have a specific execution price in mind.
To get started, sign up here, and enter the personal KYC information required to verify your identity.
The sign-up link above gives you a $25 reward after you have purchased or sold $100 worth of crypto.
You will also need to provide a copy of your government-issued ID, e.g., driver’s license or passport.
Following account verification (usually takes a few minutes), you can add funds using Canadian or U.S. dollars or deposit cryptocurrency from another exchange or crypto wallet.
You can fund with fiat currencies using Interac e-Transfer, online bill payment, or bank wire.
Credit card purchases are also available for some coins; however, this option has minimum purchase requirements and the purchase prices are at a premium.
Cryptocurrencies Supported by Netcoins
The coins you can trade on Netcoins are:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Algorand (ALGO)
- Avalanche (AVAX)
- Ethereum Classic (ETC)
- Stellar (XLM)
- Fantom (FTM)
- Decentraland (MANA)
- Shiba Inu (SHIB)
- ApeCoin (APE)
- Chainlink (LINK)
- SushiSwap (SUSHI)
- Yearn.Finance (YFI)
- Curve (CRV)
- Ripple (XRP)
- Polygon (MATIC)
- Enjin Coin (ENJ)
The pricing on Netcoins is straightforward. You pay a flat-rate trading fee of 0.50%.
All deposits are free (both fiat and crypto).
Fiat withdrawals are free; however, you pay a fee when withdrawing crypto to another platform or a cold wallet.
Some crypto withdrawal fees are:
- Bitcoin: 0.00025 BTC
- Ethereum: 0.01 ETH
- Litecoin: 0.02 LTC
- Bitcoin Cash: 0.001 BCH
- USD Coin: 40 USDC
- Stellar: 1 XLM
- Avalanche: 0.1 AVAX
- Ethereum Classic: 0.1 ETC
- EOS: 1 EOS
- SHIB: 1,000,000 SHIB
- MANA: 13 MANA
- FTM: 22 FTM
Pros and Cons of Netcoins
The benefits and downsides of this platform include the following:
- User-friendly platform for new crypto traders
- Almost instant verification for most customers
- Free cash deposits and withdrawals
- Average 0.50% trading fee
- Supports price alerts
- Customer support is provided through live chat, phone, and email
- Owned by a publicly traded company
- Accepts both CAD and USD funding
- Supports credit card purchases
- Does not offer advanced charting tools or limit order book for advanced traders
Is Netcoins Safe and Legit?
Netcoins appears to be a legitimate company. It is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as Money Service Business.
Its parent company, BIGG Digital Assets, is traded on the Canadian Securities Exchange, OTC Markets (OTCQX), and WKN.
While Netcoins is not accredited by the Better Business Bureau, it has an A+ rating on the platform. On Trustpilot, it has a 4.5/5 rating from 150+ reviews as of February 2022.
Cryptocurrencies are not protected by the Canadian Investor Protection Fund (CIPF). If you prefer an investment vehicle that is eligible for protection against the insolvency of a member firm, take a look at these Bitcoin ETFs and Ether ETFs.
As per Netcoins, it uses BitRank and QLUE to safeguard its trading platform.
Netcoins Referral Program ($25 Bonus)
The Netcoins referral program gives you up to a $25 bonus for each friend you refer. The referred friend also receives a $25 reward.
For referral bonuses to apply, they must sign up through your link and trade at least $100 worth of crypto.
There are no limits to how many people you can refer.
Netcoins vs. Coinsmart vs. NDAX vs. Bitbuy
The table below shows how Netcoins compares to Coinsmart, NDAX, and Bitbuy.
CoinSmart Crypto Exchange
Top crypto exchange in Canada
Great for new & advanced traders
0.20% trading fee
Get a $50 bonus when you deposit $250
|Crypto Platforms||Netcoins||Coinsmart||NDAX||Wealthsimple Crypto|
|Coins offered||BTC, BCH, ETH, LTC, ETC, ALGO, EOS, AVAX, XLM, and more||BTC, ETH, LTC, BCH, XLM, ADA, EOS, USDC, DOT, UNI, LINK, and more||BTC, ETH, XLM, LTC, EOS, LINK, USDT, DOGE, ADA, XRP, and more||BTC, ETH, LTC, BCH, XRP, XLM, EOS, AAVE, LINK, & more|
|Funding options||Interac e-Transfer, bank wire, bill payment, credit card||Interac e-Transfer, bank wire, bank draft, credit/debit card||Interac e-Transfer, bank draft, and bank wire||Electronic Funds Transfer|
|Fees||0.5% trading fee; free fiat deposits and withdrawals||0.20% trading fees; some on deposits/withdrawals||0.20% trading fee; free deposits; flat-rate fee for withdrawals||Up to 2% price spread; free withdrawals and deposits|
|Referral bonus||$25 after trading $100 worth of crypto||$50 when you deposit $200||–||$25 cash bonus when you deposit at least $200|
|Learn more||Visit Netcoins||Visit Coinsmart||Read review||Visit Wealthsimple|
Netcoins Review FAQs
Netcoins is regulated as a Money Service Business in Canada by FINTRAC. It is not regulated by the Investment Industry Regulatory Organization of Canada (IIROC), and your account does not qualify for CIPF insurance.
Yes, the Netcoins app is legit, and you can install it for iOS and Android devices.
Netcoins is operated by BIGG Digital Assets, a publicly-traded company on the Canadian Stock Exchange.
As far as I know, all cryptocurrencies are speculative investments and highly risky. You may make money, and you could also lose your entire investment.
There are several cryptocurrency trading platforms in Canada, including popular ones like Netcoins, Shakepay, NDAX Coinsquare, Coinsmart, and Wealthsimple Crypto.
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.
Netcoins review 2022
Netcoins is a cryptocurrency exchange in Canada offering trading in Bitcoin, Ethereum, and others. This Netcoins review covers how it works, coins supported, fees, and more.
- Offers multiple coins
- Competitive fees
- Sign-up bonus
- Lacks advanced trading tools