Netcoins Review 2023

Cryptocurrency investments are always lucrative options, provided they are done through a reliable exchange. Many cryptocurrency exchanges are doing their businesses quite well, but only a few allow traders to deposit in fiat currencies. Netcoins is amongst those reliable cryptocurrency exchanges that will enable traders to deposit both fiat currencies and cryptocurrencies. In some cases, it also allows traders to deposit via credit cards, a rare option in the crypto space.

In this Netcoins review, all the essential points regarding the exchange have been discussed so that traders can understand how the crypto exchange works and how unique its services are.

Netcoins Summary

Official Website
Headquarters Canada
Found in 2014
Native Token N/A
Listed Cryptocurrency BTC, LTC, BCH, ETH, XRP, QCAD & USDT
Trading Pairs No
Supported Fiat Currencies CAD and USD
Supported Countries Mainly Canada & Expanding
Minimum Deposit Free
Deposit Fees Free
Transaction Fees 0.50%
Withdrawal Fees Depends on Currency
Application Yes
Customer Support Email, Phone, Livechat & FAQ

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Quick Overview on Netcoins

  • Canada-based cryptocurrency exchange.
  • It is registered under FINTRAC as an MSB (Money Service Business) bearing registration number M11560893.
  • Operates under its parent company BIGG Digital Assets.
  • Charges flat trading fees of 0.5% on all trades.
  • Supports multiple payment methods like bank transfers, fiat currency transfers, and cryptocurrency transfers.
  • Multiple channels to reach the customer support team.
  • It has a built-in Netcoins Simplex Integration that allows unverified traders to buy crypto coins on the platform with a bank card.

What Is Netcoins?

Netcoins platform is amongst the oldest and best crypto exchange in Canada (Vancouver), established in 2014 to cater to the crypto trading needs of its clients based worldwide.

During its initial years, Netcoins started as a Virtual Bitcoin ATM Solutions provider catering to over 170,000 stores across three continents globally. It also served as a private brokerage service provider for large-scale institutional crypto investors. Soon after this, Netcoins evolved as a trusted cryptocurrency trading platform and started operating as a publicly-traded company under its parent company BIGG Digital Assets.

Therefore, the company’s operations are much more transparent than many other competing crypto exchanges. It launched its own OTC (over-the-counter) trading desk and Netcoins crypto trading web-based app.

Netcoins Platform Interface

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How Do Netcoins Work?

Netcoins work in a similar way as any other leading cryptocurrency exchange in the world. To get started on the Netcoins exchange, traders just need to click on the Sign-Up button and enter their personal KYC information required to verify their identities. The Sign-Up link rewards the users with a $10 purchase or sale of $100 worth of cryptocurrencies.

For this, users need to upload a copy of any of their government-issued documents like a driver’s license or passport for verification purposes. After the verification process is completed, users can add funds into their Netcoins account using Canadian dollars (CAD) or U.S. dollars (USD) or even deposit cryptocurrencies from another exchange or best crypto wallet. Users can also make deposits with fiat currencies using Interac e-Transfer, bank wire, or online bill payment.

Netcoins also allows Credit card purchases for some coins; however, the purchase prices of this offer are mostly at a premium.

Features of Netcoins

Netcoins platform offers the following core features to its users:-


Netcoins is a suitable cryptocurrency exchange platform, mainly for beginners. However, advanced traders also find the platform very useful and convenient, according to the numerous Netcoins reviews.

Rapid Transaction Times

Netcoins allows its users to buy and sell their preferred crypto coins instantly on the platform. Both deposits and withdrawals happen quickly, and therefore users are no longer required to wait for long to get their crypto coins.

Faster Verification

Being a FINTRAC regulated platform, Netcoins must verify the users’ identities before trading on the platform. But the verification process is seamlessly faster than many other reputed cryptocurrency exchanges. The platform also provides for non-custodial cryptocurrency purchases using the Simplex Integration Process. The Simplex Integration Procedure allows a non-Canadian customer who cannot verify his identity on the platform to buy cryptocurrencies using a bank card. In such cases, the Netcoins Simplex Integration procedure applies its verification process to verify users’ identities. Users can also contact the customer support agents in case they face any issues regarding registration or verification.

Supports Leading Cryptocurrencies

Netcoins supports most of the leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Ripple (XRP), and QCAD coins. It also lets users hold both CAD (Canadian Dollars) and USD in one single account, making it way easier for fiat-to-crypto transactions at low deposit and low withdrawal fees.

Government Regulated

Netcoins is registered under FINTRAC, which is an organization operating under the Federal Government of Canada.

Publicly Traded

Netcoins operates under a publicly traded company called the BIGG Digital Assets that offers its users an extra layer of security and confidence.

Leverages Forensic Tools

To add an extra layer of security and safeguard its clients’ assets, Netcoins leverages blockchain forensic and analytical tools like QLUE and BitRank.

Top-Rated Support

The customer support team at Netcoins is very responsive and can be contacted via a number of channels like email, live chat, or phone. The support team is also very active on social media channels like Twitter and Instagram.

Netcoins Features

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Netcoins Review: Pros and Cons

Pros Cons
right Easy-to-use interface. cancel A limited selection of crypto coins.
right Allows both fiat and crypto deposits. cancel US and Australian residents are prohibited from using the platform.
right Low trading fees. cancel Limited trading options are available.
right Responsive customer support. cancel No advanced charting tools are available.
right Registered with FINTRAC as MSB (Money Service Business).

Creating an Account With Netcoins

To create an account on the Netcoins platform, users should be above 18 years of age and be a resident of Canada.

Creating a Netcoins account is very quick and straightforward. See the below steps:-

  • Users can quickly log in to their Netcoins account with just their email address, but they need to verify their identities to use any of the exchange’s features.
  • Users must provide their full name, address, date of birth, Canadian phone number, utility bill or bank statements, driver’s license or passport, and a selfie holding any of these IDs.
  • The whole verification process takes five to ten minutes to get completed.
  • However, if users want to buy crypto with a credit card, it does not require any account verification, but the credit card fees are costly.

Netcoins Sign Up Process

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Netcoins Fees

Netcoins fees are straightforward; traders can expect a flat trading fee of 0.50% per trade executed on the platform. Also, all deposits both via cryptocurrencies or fiat currencies are free of any charge. There is also no fee charged on withdrawals, but blockchain fees apply on withdrawals, which means users are obliged to pay a fee when they withdraw cryptocurrencies to another platform or into a cold wallet.

In such cases, crypto withdrawal fees are as follows:-

  •  Bitcoin: 0.0005 BTC
  • Tether: 20 USDT
  • XRP: 0.02 XRP
  • Ethereum: 0.005 ETH
  • Bitcoin Cash: 0.001 BCH
  • Litecoin: 0.02 LTC
  • QCAD: 0 QCAD

For more details on its fee structure click here.

Netcoins Spread

In addition to the trading commission charged at the rate of 0.50%, Netcoins also charges a spread somewhere between the quoted price and the current market price of the crypto coins. Thus, with this spread, the total fees stand somewhere between 1%to and 1.5% to buy crypto coins on Netcoins. Netcoins charges a standard spread on quoted price compared to the other crypto trading apps operating in Canada.

Netcoins Deposit and Withdrawal Methods

Netcoins allows its users to fund their accounts with both fiat currencies and cryptocurrencies; users can choose from the following methods:-

  • Bank Wire transfer– minimum limit USD 500.
  • E-transfer- minimum limit USD 10.
  • Online bill payment- minimum limit USD 50 available for Scotia bank, credit union users, or BMO.
  • Cryptocurrency transfer – BTC, LTC, ETH, XRP, BCH, USDT, and QCAD.

For withdrawals, Netcoins allows its registered users to cash out their crypto holdings and transfer them either to the exchange’s in-built wallet, or they can also send their crypto holdings to their private wallets outside Netcoins custody. Netcoins does not charge any withdrawal fees, but the blockchain fees apply to every withdrawal made on the platform.

For making withdrawals, users can easily navigate through the ‘Withdrawal’ section under the main menu on the exchange’s website and follow the onscreen instructions as they appear. Netcoins also allows for a Simplex Integration if users purchase cryptocurrencies with fiat money using a bank card. The crypto coins will be directly credited to the private wallet of the users.

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Netcoins Accepted Payment Methods

Netcoins accepts both fiat currencies and cryptocurrencies for making deposits on the platform. In some cases, users can also use credit cards to make payments on the platform.

Netcoins Supported Currencies and Countries

Netcoins emerged as the best crypto exchange primarily for Canadians. However, it soon started accepting customers from all over the world with a few exceptions like Australia and the United States. Currently, the Netcoins exchange does not display the complete list of supported countries whose residents can trade on the platform. Users can try registering on the platform, and if they do not find their country’s phone number on the phone verification list of Netcoins, their country is not supported on the exchange.

Netcoins offers a total of 7 cryptocurrencies for trading, which include Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Tether (USDT), and QCAD coins.

Netcoins Design and Usability

Netcoins platform provides a highly user-friendly interface that focuses more on catering to the needs of beginners. Instead of using an advanced trading interface, Netcoins emphasizes more on a simplified cryptocurrency trading frontend.

The exchange guides the users throughout the registration and verification process, and once this is done, the platform also provides insights into funding the users’ accounts. Users can find each of these operations, like registration, funding, etc., from the main menu on the exchange’s dashboard. Users can either deposit funds with dollars (USD and CAD) or in supported cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), etc.

Also, when it comes to exchanging coins (buying and selling), Netcoins proves to be one of the most user-friendly platforms (as per Netcoins review) that does not have too many order types or confusing trade charts. Nevertheless, the platform allows users to place both (instant) orders and limit orders, thus making it a suitable platform for beginners to buy and sell their preferred crypto assets at the most desired prices. Users can set their price alerts on Netcoins and receive notifications via SMS whenever their preferred crypto coins make a predetermined move in their price.

Netcoins User-Friendly Interface

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Netcoins Referral Program

Netcoins offers an attractive referral bonus of CAD 10 to its users on every referral that they bring in to the exchange’s website; Users get 10 CAD for every friend/ relative who signs up to the Netcoins website using their referral links and can trade more than 100 dollars on the platform.

Netcoins Mobile App

Netcoins have a mobile app, but the website can also be easily accessed from any smartphone using the web browser. To access the website with phones, users just need to visit and log in to their account, and they can execute precisely the same functions that they would do from their computers. The mobile app makes the process smoother and faster.

Netcoins Mobile App

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Netcoins Security

Since its inception, there have not been any issues reported against the platform experiencing any digital hack or data leak. Thus it can be considered as a secure crypto exchange platform. Moreover, it is a regulated exchange that operates with its parent firm BIGG Digital Assets serving as a custodial broker. It also provides a digital wallet service to its users and ensures the protection of their private keys.

On the users’ side, Netcoins allows its users to protect their accounts with two-factor authentication (2FA) protection and a strong password. It also allows users to view their account activities and thus stay alert whenever any unwanted access happens.

Netcoins Customer Support

According to the various Netcoins reviews, the customers have always praised the support team for being very responsive. The customer service team can be reached anytime during business hours between 09:00 to 17:00 PT from Monday to Friday.

Customers can reach out to the customer support team via multiple channels like Live Chat support on the website, email, direct phone call, or by filling out a ‘Contact Us’ form where the user can just type in their queries in the message box with their name and email address; the solutions will be sent to them within a maximum of 24 hours in the given email address.

Moreover, the customer support team of the Netcoins app is also active on various social media platforms like Instagram and Twitter.

Netcoins Review: Conclusion

Therefore, in totality, Netcoins has a good track record of providing crypto trading services and has never faced any cyber hacks since its launch in 2014. It is a highly recommended platform for users looking for a reliable platform owned by a publicly-traded company.

Netcoins Customer Support

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Is Netcoins App Legit?

Yes, according to this Netcoins review, the platform appears to be a legit one. Since its inception, the parent company that operates under the ticker symbol BIGG Digital Assets is traded on the CSE (Canadian Securities Exchange), WKN, and OTC Markets (OTCQX).

Is Netcoins Regulated?

Netcoins Canada is a regulated exchange under FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and operates as an MSB (Money Service Business). However, it is not regulated by the IIROC (Investment Industry Regulatory Organization of Canada), and therefore none of the trader’s accounts registered with Netcoins qualify for CIPF insurance.

How Does the Netcoins Referral Works?

Getting started with the Netcoins Referral program is simple. Users just need to click on the Netcoins referral link tab, and they will be directed to the referral page on the exchange’s website. Users can then sign up by clicking on the Netcoins login for a new account, verify their email address, identity, and mobile number. The next step is to share the personal link with families and friends, and once the referrals sign up on the platform by clicking on the link, the users start earning referral bonuses at the rate of $50 per click.

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