Netcoins vs Bitbuy 2022: Compare Crypto Exchanges in Canada

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by Enoch Omololu, MSc (Econ)

Published on

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Netcoins and Bitbuy are top Canada-based crypto trading platforms that allow users to invest in several cryptocurrencies.

Netcoins is a crypto brokerage that offers a simple interface to beginners, while Bitbuy offers both basic and advanced trading interfaces to cater to newbies and pro traders.

This Netcoins vs Bitbuy comparison compares their top features to help you choose the one that fits your crypto needs.

Netcoins

Founded in 2014, Netcoins is a top crypto brokerage platform in Canada that offers a simple, easy-to-use interface you can use to trade several cryptocurrencies.

It’s a FINTRAC-registered MSB based in Vancouver and owned by BIGG Digital Assets.

Netcoins top features include:

  • 30+ cryptocurrencies supported
  • Instant, automatic account verification
  • Free deposits/withdrawals
  • Netcoins mobile app to stay on top of the markets on the go
  • Netcoins Pay prepaid visa card that allows you to spend your crypto with ease
  • Limit orders to automate your buy/sell prices
  • Price alert via messages/email to keep you in the loop with large price moves, key trades, and exciting milestones.
  • Lots of learning resources available on the Netcoins academy and blog

Read our full Netcoins review or sign up via this referral link and trade $100+ to earn a $60 sign-up bonus.

Bitbuy

Founded in 2016, Bitbuy is one of the best crypto exchanges in Canada. It’s a Toronto-based FINTRAC-registered MSB authorized by the OSC to offer crypto services across Canada.

Top Bitbuy features include:

  • Supports 25+ crypto coins
  • Offers instant, automatic account verification
  • Top security via cold storage and comprehensive insurance
  • Offers basic and advanced trading interfaces
  • OTC desk for large trades via Bitbuy Private Wealth
  • iOS and Android mobile apps to trade on the go

Read the full Bitbuy review.

Netcoins vs Bitbuy: Top Features Compared

KYC verification

Both Netcoins and Bitbuy offer instant account verification for most users by running an automatic identity check with the credit bureaus.

If that fails, users are required to provide their identity documents and a selfie photo to get verified manually.

Funding methods

Both crypto trading platforms offer 3 wallet funding methods namely:

  • Bank wire
  • Interac e-transfers
  • Crypto deposits

Crypto trading platforms

Both Netcoins and Bitbuy offer web-based interfaces and iOS/Android crypto trading apps.

Netcoins only offers a standard trading web interface and the Netcoins app with no advanced trading features and charting tools.

Bitbuy, on the other hand, offers multiple trading interfaces, including:

  • Bitbuy Express for beginners
  • Bitbuy Pro with advanced trading/charting tools for experienced traders
  • API Client to allow Individual and institutional traders to automate their trading activities.
  • Bitbuy mobile app to allow traders to stay connected with the markets while on the move.

Supported Cryptocurrencies

As of this writing, Netcoins tops Bitbuy when it comes to the number of crypto assets as it offers a wider selection of about 30+ crypto coins vs Bitbuy’s 25+.

As already noted, Netcoins supports both CAD and USD as fiat, while Bitbuy supports only CAD.

Trading fees

Both Netcoins and Bitbuy offer transparent, flat fee schedules, and their standard trading fees are similar. However, Bitbuy Pro users enjoy lower fees.

Netcoins fees

Netcoins charges a flat fee of 0.5% on all trades, with no deposit/withdrawal fees for fiat.

Bitbuy fees

Bitbuy Express fees stand at 0.5%, while Bitbuy Pro and API Client charge lower fees of 0.1% for makers and for 0.2% takers.

Bitbuy also levies fiat deposit/withdrawal fees of 0.5% to 1.5% depending on the transfer method used.

Crypto deposits are free on both platforms, but you’ll pay crypto withdrawal fees that vary by coin.

Crypto services offered

Both Netcoins and Bitbuy only offer Spot trading services by allowing users to buy, sell and trade supported coins.

Bitbuy also offers corporate crypto solutions and an OTC desk that allows traders to fill large trades.

Crypto Visa cards

Netcoins offers a prepaid Netcoins Pay Visa card that allows users to spend their crypto with ease and earn 1%-3% crypto rewards.

Bitbuy doesn’t offer a crypto Visa card.

Netcoins vs Bitbuy

Netcoins vs Bitbuy: Pros & Cons

Pros

Netcoins does well with free fiat deposits/withdrawals, a wider crypto list, support for CAD and USD as fiat, a crypto visa card, and a beginner-friendly interface.

Bitbuy’s upside includes multiple trading interfaces to cater to different traders, an OTC desk to fill large trades, and crypto services for businesses.

Cons

Netcoins is a crypto brokerage and doesn’t offer advanced trading features and charting tools.

Bitbuy’s downside is that it only supports CAD as fiat, and has a limited crypto selection

Netcoins vs Bitbuy: Sign-up bonus

Netcoins offer a more generous welcome bonus than Bitbuy.

If you sign up for a Netcoins account and trade $100+, you get a $60 cash bonus vs Bitbuy’s $40 when you create a Bitbuy account and deposit $250+.

Netcoins vs Bitbuy: Best for

Netcoins only offers a basic trading interface, hence great for beginners.

Bitbuy offers both basic and advanced trading interfaces, and both newbies and seasoned traders will find the platform useful.

Is Netcoins Safe?

Netcoins’ website doesn’t describe the security measures that the crypto brokerage employs to secure users’ funds in detail. That said, it is owned by a publicly listed company.

Is Bitbuy Safe?

Bitbuy takes several security measures to secure crypto assets on the platform, including 99% cold storage and insurance coverage.

Netcoins vs Bitbuy: Summary

FeatureNetcoinsBitbuy
Coins/fiat supported30+ coins; CAD and USD as fiat20+ coins; only CAD as fiat
Funding optionsInterac, bank wire, cryptoInterac, bank wire, crypto
Trading fees0.5% flat fee0.5% flat fee on Bitbuy Express; 0.1%/0.2% maker/taker fees on Bitbuy Pro/API Client.
Deposit/withdrawal fees$00.5%-1.5%
Minimum investment$10$50
Trading platformsBasic web interface and mobile appsBasic and advanced web interfaces and mobile apps
SecurityNot clearCold storage and insurance
Sign up bonus$60 if you trade $100+$40 if you deposit $250+
Learn moreVisitVisit

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.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Access to several popular coins.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Easily deposit and withdraw both fiat and crypto.

A publicly traded company on the Canadian NEO exchange.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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