We may earn a commission from links on our site, but this doesn’t affect our reviews. Learn more.

Netcoins Review

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries.

Our Take

4.1 / 5
HedgewithCrypto Score We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.

Bottom line:

Netcoins is a simple crypto exchange for Canadians to trade Bitcoin (BTC), Ethereum (ETH), and other popular cryptocurrencies for a flat 0.5% trading fee. While designed for Canadian residents, non-Canadian users can also make purchases through its third-party integration with Simplex, buying crypto with a debit or credit card.

There are limitations to Netcoins as it is designed for new crypto investors only. It doesn’t feature advanced trading features, such as options or futures trading, or the ability to earn a yield on deposits. The lack of broader features will not appeal to serious crypto traders and investors in Canada and the 0.5% fee is a little high.

  • Trading Fees:


  • Currency:

    CAD, USD

  • Country:


  • Promotion:

    None available at this time

Pros and cons

  • Competitive trading fees for beginners
  • Free deposits and withdrawals for fiat currency
  • Supports CAD and USD deposits with variety of payment methods
  • Simple-to-use mobile app with good reviews
  • Responsive customer support team
  • Only Canadian residents can register for an account
  • Crypto withdrawal fees can be high
  • Small crypto selection at 31 assets
  • No advanced trading products
  • Does not support crypto lending or borrowing, earn interest or staking

Netcoins At A Glance

Netcoins is a Canadian crypto exchange that originally started as a Bitcoin ATM business back in 2014 but quickly pivoted to offer exchange services to users. The exchange is designed for the general community and has expanded from a Bitcoin exchange to now offering over 30 cryptocurrencies for trading. Netcoins also offers mobile trading with both an Android and iOS app.

Netcoins offers several notable features, including:

  • Regulated exchange with FINTRAC license in Canada
  • Flat-rate trading fees
  • No withdrawal fees on fiat currency
  • 31 crypto available to trade
  • Prepaid VISA card that pays rewards in Bitcoin
  • Owned by BIGG Digital Assets, a publicly-traded company

Netcoins is a regulated crypto exchange in Canada by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is a licensed Money Service Business (MSB). It is also the first publicly traded crypto exchange in Canada as part of its parent company, BIGG Digital Assets. Netcoins is currently headquartered in Vancouver, Canada.

Exchange NameNetcoins
Fiat CurrenciesCAD, USD
Payment TypeCryptocurrency, Interac e-Transfer, Wire Transfer (CAD only), Credit/Debit card
Trading Fee0.5%
Deposit FeeNone
Withdrawal FeeFree fiat withdrawals, crypto withdrawal fees vary by currency
Mobile AppYes

Netcoins Compared




We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
3.7 / 5

None available at this time

Visit BitBuy BitBuy Review


0.16% (maker) and 0.26% (taker)

We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.8 / 5

None available at this time

Visit Kraken Kraken Review



We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.0 / 5

None available at this time

Visit NDAX NDAX Review

Review of Netcoins Top Features

Access to Bitcoin and other Top Crypto

Netcoins supports 31 cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and XRP (XRP). It also supports Dogecoin (DOGE), ApeCoin (APE), and Shiba Inu (SHIB), as well as one stablecoin, US Dollar Coin (USDC).

There is a surprising lack of stablecoins support, as Tether (USDT), Dai (DAI), and others are not available on Netcoins which is a con. There are other top coins missing as well, including Cardano (ADA), Solana (SOL), and Polkadot (DOT). While the selection is decent, users who want access to a larger selection of crypto may be better served by using a top altcoin exchange like Binance or Coinbase.

Selection of coins on Netcoins

Simplex Integration for Purchases via Credit/Debit Card

While Netcoins is designed for Canadian residents to use, non-resident users can still create an account with just their name and email address and purchase crypto with a debit or credit card through Simplex. This third-party service is a non-custodial crypto-buying app that requires inputting a crypto wallet address to receive the funds directly.

This integration only offers access to 5 cryptocurrencies (BTC, ETH, BCH, LTC, XRP), and still requires inputting personal data to complete the transaction. There are also additional fees for purchase, up to 5% on credit card purchases, with a $10 USD minimum purchase amount. The integration is the only way to buy crypto with a debit or credit card on Netcoins, but Canadian residents will save money by transferring funds to the Netcoins platform directly.

Buying crypto with credit card on Netcoins

Netcoins VISA Prepaid Card

Netcoins offers a rewards VISA prepaid card that offers cash back paid in Bitcoin rewards. This card allows users to deposit CAD into their Netcoins account and spend those funds at any place that accepts VISA cards. Netcoins offers 3% rewards within the first 3 months of opening the account, and 1% rewards after that. There are no annual fees for holding the card, and users can opt to use a virtual card for making purchases digitally. The rewards are initially earned in CAD upon purchase but automatically converted to BTC with a user’s Netcoins account at the end of each month.

While the Netcoins card offers decent rewards for the first 3 months, users cannot use it to spend their crypto, and it doesn’t have the same flexibility as the top crypto debit cards that we have reviewed such as the Binance Card and Crypto.com VISA card.

Excellent Customer Support

Netcoins offers some of the best customer service available from any crypto exchange. Users can quickly connect via live chat, submit an online form, send an email, or pick up the phone and call the support team. Netcoins also offers customer support via social media on Facebook, Twitter, and Instagram, making it easy to connect with a team member. Business hours for support differ between email and phone/live chat. Email support is available from 6AM to 8PM PT, Mon – Fri, and Sat – Sun from 9AM to 8PM PT. Phone and live chat support is available from 7AM to 5PM PT, Mon – Fri, and Sat – Sun from 9AM to 5PM PT.

Messaging Netcoins on live chat, we were able to get a response from the team within 2 minutes, and they were able to quickly and accurately answer our questions. This is refreshing to see, as most large crypto exchanges do not offer this level of high-touch support.

Is Netcoins Safe?

Netcoins is a regulated exchange in Canada, complying with FINTRAC and anti-money laundering (AML) policies. Most crypto assets are held on offline cold storage vaults supported by BitGo, with over $250 million in insurance coverage against theft. Netcoins also utilizes SSL to encrypt user data on the platform and offers Two-Factor Authentication (2FA) to further secure user accounts.

Netcoins was the victim of a security breach in April of 2022, where a user exploited a software vulnerability to steal about $1.5 million in Canadian Dollars (CAD). This did not affect any user funds, and the hacker was not able to access any crypto wallets. Outside of this software vulnerability that was immediately patched, no user funds have been lost, and assets are insured against theft, making Netcoins a safe place to trade.

Are US Investors Allowed?

Netcoins only allows Canadian residents to register for an account and trade, and the only accepted fiat currency is Canadian Dollars (CAD). US investors looking for a top-rated crypto exchange can check out the top crypto exchanges in the USA.

Netcoin Verification

Netcoins requires KYC verification on all accounts to be able to use all the functions of the platform, including fiat and crypto deposits, crypto trading, and withdrawals. Verification is only available to Canadian residents at this time, though efforts are underway to expand into the U.S. market in 2022.
To verify an account, Netcoins users will need to provide personal data, including a valid phone number, full name, address, and birth date. Netcoins also requires submitting the following documentation;

  • A picture of a photo ID, such as a driver’s license
  • Proof of residence document, such as a utility bill
  • Selfie picture

All of these documents are submitted and verified by Netcoin before fully verifying a user’s account. Netcoin states that all of this documentation is necessary to comply with FINTRAC regulations, and is in place to help prevent fraud and theft on the platform.

Funding & Limits

Netcoins supports both Canadian Dollars (CAD) and U.S. Dollars, as well as 31 different cryptocurrencies for account funding. CAD deposits can be made via Interac e-Transfer or wire deposit, and USD deposits are only available via bank wire transfer. Crypto deposits are free. There are no maximum deposit amounts on fiat or crypto, though individual banks may impose daily limits. Fiat deposits via e-Transfer require a $10 minimum transfer, and fiat deposits via wire transfer require a $500 minimum transfer.

Fiat and crypto withdrawals are also unlimited, but crypto withdrawals come with minimums, as do fiat withdrawals. Crypto withdrawal minimums vary by currency and are listed here, while CAD fiat withdrawal minimums are $10 for e-Transfer and $500 for wire transfer, while USD withdrawals require a $1,000 minimum.

Volume and Liquidity

Netcoins does not share its liquidity details publicly and is not listed on CoinMarketCap, a third-party website that ranks the liquidity of top exchanges. Netcoins does partner with BitGo as its liquidity provider, though details on BitGo’s liquidity are not available either.

Netcoins Trading & Ease of Use

Netcoins offers a simple user interface for buying and selling crypto. Here’s how trading works with Netcoins:

User Interface

The user interface is very simple, with a dashboard showing the user’s portfolio, open orders, and recent transactions. There are only a few menu options, allowing users to fund their account (with fiat or crypto), buy/sell crypto, and withdraw funds. Users will find using the Netcoins platform to fund an account and view balances very simple.

Screenshot of Netcoins dashboard

Placing Orders

The Netcoins trading interface is fairly straightforward, showing users a simple line chart for each crypto, with basic market stats, such as Volume, Market Cap, and Supply. Crypto traders who need candlestick charts will not find them on Netcoins and are better off using a specific crypto day trading platform for this.

Users can place both Instant and Limit orders within the order form, allowing some control over the trade. Once a user fills in the details of the order form, the order can be previewed, which shows the fees associated with the transaction as well. Instant orders are fulfilled immediately, while Limit orders may end up placed in the order book to be filled when the price is met.

Buying Bitcoin with Netcoins

Netcoins Fees

Netcoins charges a flat rate fee of 0.5% for all transactions, with no “spread” or other fees collected. There are also no fees for making purchases with fiat currency. The only transaction fees that exceed this fee are credit/debit card purchases through a third-party partner, Simplex. Those transactions may cost up to 5% but are not collected by Netcoins.

Here’s how Netcoins fees compare to other crypto exchanges in Canada such as Binance, Newton and Gemini based on our reviews.

ExchangeTrading FeesToken Discounts
Newton0.5% – 2.0%No

Netcoins Mobile App

Netcoins offers a mobile app, available for both Android and iOS devices, with over 10,000 downloads across both platforms. The app offers all the same functions as the desktop version, allowing users to deposit fiat or crypto, place trades, and withdraw funds with ease. The Netcoins exchange app has an overall 4.2/5 star rating in the Apple store based on about 160 reviews, which is a good rating overall.

Most complaints center around the higher withdrawal fees, as well as the limited crypto selection. Any technical issues reported seem to be responded to by the support team.

Security of Assets

Netcoins stores a majority of all crypto assets in cold storage through its partnership with third-party custodian, BitGo. The vaults at BitGo run on a geographically distributed architecture, offer multi-signature key management and employ strict access controls for all crypto storage facilities. Bitgo also carries a $250 million insurance policy against stored assets, helping further protect customer funds.

On the user side, Netcoins offers two-factor authentication (2FA) on all accounts, allowing users to input a code before logging in or withdrawing any funds. All users are also required to pass KYC before making deposits, placing trades, or withdrawing funds.

Frequently Asked Questions

Is Netcoins a regulated crypto exchange?

Netcoins is registered as a Money Service Business (MSB) through the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and is compliant with local regulations in Canada.

Is Netcoins a wallet?

Netcoins is a custodian service, storing user funds in a hot wallet on the platform. That being said, Netcoins is not a digital wallet service, meaning the Netcoins wallet cannot be used outside of the Netcoins exchange. If a user wants to take custody of their assets or transfer crypto off the Netcoins platform, they will need to use a third-party digital wallet that supports the crypto being transferred, or utilize a hardware wallet to take custody of their assets.

Is Netcoins legit?

Yes, Netcoins is a legitimate crypto exchange that complies with Canadian regulatory authorities and is a licensed money service business. While there was a recent exploit of the Netcoins software, allowing one user to withdraw about $1.5 million CAD, the exchange has not been hacked, and all offline user funds are insured.

How We Rated Netcoins

CategoryHedge With Crypto Rating
Features3 / 5
Supported Fiat Currencies and Deposit Methods4.2 / 5
Supported Cryptocurrencies and Trading Pairs3.8 / 5
Fees3.8 / 5
Ease of Use4.4 / 5
Customer Support4.5 / 5
Security Measures4 / 5
Mobile App4.3 / 5

You might also be interested in

Updated Mar 11th, 2024

7 Best Crypto Portfolio Trackers

Updated Mar 11th, 2024

VirgoCX Review

Updated Mar 11th, 2024

MyBTC Review

Updated May 2nd, 2024

9 Best Fiat To Crypto Exchanges