Netcoins Review April 2024: $50 Bonus Offer

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.

This Netcoins review covers how it works, the coins offered, fees, whether it is safe, and how it compares to competitors like Coinsmart, NDAX, and Bitbuy.

You also learn how to get a $50 bonus from Bitbuy.

Netcoins – Summary of Features

• 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 on their website and enter the personal KYC information required to verify your identity.

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:

Netcoins Fees

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:

Pros

• 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

Cons

• 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

The Netcoins referral program sometimes offers a bonus for each friend you refer, and the referred friend also receives a reward.

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.

Bitbuy Crypto Exchange

Get a $50 bonus if your initial deposit exceeds $250

Trade approx. 40 coins

Great for new & advanced traders

0% to 2% trading fee

Rating

visit bitbuy Read review

Crypto Platforms	Netcoins	Coinsmart (now Bitbuy)	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, debit card	Interac e-Transfer, bank draft, and bank wire	Electronic Funds Transfer
Fees	0.5% trading fee; free fiat deposits and withdrawals	0-2% trading fees; free deposits	0.20% trading fee; free deposits; flat-rate fee for withdrawals	Up to 2% price spread; free withdrawals and deposits
CIPF/CDIC insurance	No	No	No	No
Referral bonus	–	$50 when you deposit $250+	–	$25 cash bonus when you deposit at least $200
Learn more	–	Visit Bitbuy	Read review	Visit Wealthsimple

Netcoins Review FAQs

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.