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Bitget vs. Netcoins: What Works Better For Canadians in 2024

Oleg Galeev

Last updated September 20, 2024

Cryptocurrency trading platforms act as the primary gateway for enthusiasts to explore and participate in the crypto world. Two prominent names among Canadian crypto traders are Bitget and Netcoins, each having distinct offerings tailored to different user demographics.

Description

Bitget is a cryptocurrency exchange for skilled users that offers thousand of altcoins for Canadians (and people all over the world) to trade.

Netcoins is a Canadian crypto exchange owned by a publicly-traded company called Bigg Digital Assets. Netcoins was founded by Mitchell Demeter who created the world’s first Bitcoin ATM in 2013.

Coins

Over 1000 major coins and altcoins

Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, USDC, Algorand, XRP, Avalanche, Ethereum Classic, SHIB, DOGE, MATIC, AXS, Cardano, Solana, Polkadot

Fees

Trading fees on Bitget are low at just 0.1%, but can be lower if you pay fees with their token BGB.

  • Free deposits
  • Free fiat withdrawals
  • 0.5% trading fees

Pros

  • Low trading fees
  • Hundreds of altcoins
  • Advanced features
  • Simple KYC process
  • Free fiat and crypto deposits
  • Free fiat withdrawals
  • Interac e-Transfer available
  • Phone support
  • Instant verification
  • Licenced and regulated in Canada
  • Educational resources available
  • Great customer service

Cons

  • No Interac e-Transfer
  • Confusing for beginners
  • No CAD deposits and withdrawals
  • Few cryptocurrencies available
  • No credit/debit card purchases
  • CAD only
  • High trading fees

Account Limits

No major limits

  • $10 min for Interac e-Transfer
  • $500 min for wire transfer
  • $50 min for online bill payment

Methods to buy

  • Credit or debit card
  • P2P platform
  • Interac e-Transfer
  • Bank wire
  • Online bill payment

Security

  • 2FA
  • Anti-phishing code
  • $300 million insurance for lost assets
  • 2FA available
  • Registered with FINTRAC

Mobile and Desktop Trading

Bitget and Netcoins both offer robust platforms for trading on desktop and mobile. Bitget's mobile app boasts ratings of 4.5 on the Apple App Store and 4.1 on Google Play. Despite its rich feature set catering to advanced traders, this can make the app somewhat intimidating for beginners. On the other hand, Netcoins' mobile application carries a remarkable 4.0-star rating on the Apple App Store, reflecting its user-friendly interface and simplicity, tailored primarily for crypto newcomers.

Bitget

The Bitget platform can be confusing for beginners since there is advanced charting and order book data. Bitget’s mobile app has a 4.4-star rating on the Apple App Store and a 4.6-star rating on Google Play

Trading crypto on Bitget from Canada

Bitget desktop view (trading screen)

Depositing money to Bitget

Bitget depositing screen

Bitget mobile app main screenshot

Bitget mobile app main screen

Bitget mobile app screenshot

Bitget mobile app (coins)

Netcoins

Netcoins’ trading platform is simple to use with a sidecar offering all you need including options to buy, sell and trade. Your dashboard has two big options to either deposit funds or deposit crypto.

Buying crypto with Netcoins is easy thanks to its simple trade feature.

The Netcoins app has a 4.1-star rating from 171 reviews on the Apple App Store. It has a 3.6-star rating on Google from 127 reviews. 

The app is easy to use and beginner-friendly. It is almost an exact copy of the desktop platform but optimized for mobile.

Netcoins trading screen

Netcoins Desktop App (trading screen)

Funding money to our account with Netcoins

Netcoins Desktop App (funding account)

Netcoins vs Coinsmart trading mobile app

Netcoins Mobile App (balances)

Netcoins vs Coinsmart bitcoin transaction in mobile app

Netcoins Mobile App (trading)

Security Compliance

Bitget uses two-factor authentication for security and emails you about logins or withdrawals. They offer an anti-phishing code for genuine emails and have a $300 million insurance for lost assets, which you can claim if not at fault.

Netcoins utilizes the services of Bitrank and QLUE to stay compliant by monitoring wallet addresses and transactions for fraud and connections to criminal enterprises.

Two-factor authentication is available to help keep your account secure.

When it comes to security, both platforms prioritize user safety. Bitget enhances user account protection with two-factor authentication and offers an emergency insurance coverage of $300 million. This aims to protect customer assets from unexpected losses. In contrast, Netcoins, while owned by a publicly-traded company, does not disclose specifics regarding customer funds storage. Nevertheless, the platform also offers two-factor authentication for bolstered account security.

Regulatory Compliance

Not regulated by Canadian financial institutions. 

Netcoins is fully regulated in Canada. It is registered as a Money Services Business (MSB) with FINTRAC. Since Netcoins is also owned by Bigg Digital Assets, a publicly traded company, you can be sure that Netcoins is a safe exchange.

Operating within Canada means that exchanges must adhere to specific regulations and standards. Netcoins is registered as a Money Services Business with FINTRAC, making it fully compliant within Canada's regulatory framework. On the other hand, specifics about Bitget's compliance with Canadian regulations were not mentioned, but given its rise in popularity following the departure of giants like Binance, it's safe to assume they're treading cautiously within the Canadian market.

Customer support

Reviewers say customer support is unhelpful but most of them are beginners. Bitget is not a crypto exchange for beginners and if you do not know how copy trading or futures trading works, then it is not a good idea to use them, as this customer points out. 

Netcoins has excellent customer support with an impressive 85% excellent customer service reviews on Trustpilot with a 4.5-star rating. Netcoins offers email support, live chat and phone support, which is rare for crypto exchanges.

Bitget's reputation in the support department is a mixed bag. Their Trustpilot rating sits at 2.7 stars, with some customers voicing concerns about the perceived efficacy of their copy trading feature. However, this might stem from a misunderstanding of the feature itself. Netcoins, in contrast, shines in this arena, with a remarkable 4.5-star rating on Trustpilot. They provide 24/7 live chat, email, and even rare phone support, underscoring their commitment to customer service.

Conclusion

Both Bitget and Netcoins bring commendable services to the table for Canadian crypto enthusiasts. While Netcoins offers a beginner-friendly experience with stellar customer support, Bitget edges out as the winner. This is attributed to its comprehensive feature set, low trading fees, and alternative offerings like futures and copy trading which cater to the more seasoned trader.

We recommend choosing Bitget over Netcoins for your cryptocurrency trading needs. By opting for Bitget through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Bitget nor Netcoins meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.

Author

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.