Security Compliance
Netcoins keeps the majority of client crypto in cold storage with custodian BitGo, whose private keys live in air-gapped offline systems, while hot wallet operations run through Fireblocks. Two-factor authentication is mandatory for withdrawals, and multi-signature wallets add another layer. Its parent company's blockchain surveillance technology monitors wallet addresses and transactions for fraud and links to criminal enterprises. Netcoins has operated since 2014 without a hack.
As a public company Bitcoin Well has a duty to be transparent with its investors and adhere to all Canadian regulations. Additionally, since you always take full custody of your bitcoin, you do not need to worry too much about the security measures of the platform, since you hold your bitcoin yourself.
Netcoins keeps the majority of client crypto in cold storage with custodian BitGo, whose private keys live in air-gapped offline systems, while hot wallet operations run through Fireblocks. Two-factor authentication is mandatory for withdrawals, and multi-signature wallets add another layer. Its parent company's blockchain surveillance technology monitors wallet addresses and transactions for fraud and links to criminal enterprises. Netcoins has operated since 2014 without a hack.
As a public company Bitcoin Well has a duty to be transparent with its investors and adhere to all Canadian regulations. The key security advantage is structural: since you always take full custody of your bitcoin, there are no exchange-held customer funds to hack.
Netcoins publishes full custody details: BitGo cold storage with air-gapped keys and Fireblocks for hot wallets, plus blockchain surveillance through its parent company's compliance tools. Bitcoin Well protects users through immediate self-custody and public-company transparency obligations — your coins never sit on the platform. Both platforms are highly secure through different models.
Regulatory Compliance
Netcoins is one of the most regulated exchanges in Canada. Beyond its FINTRAC MSB registration, it has been registered as a Restricted Dealer with the Canadian securities regulators in every province since 2021, among the very first platforms to achieve this, and is working toward full investment dealer registration and CIRO membership. Its parent, BIGG Digital Assets, is publicly traded and must publish audited financial statements, adding a transparency layer most private exchanges can't match.
Bitcoin Well is registered with FINTRAC (registration M19811620) and with Revenu Québec, and is fully legal in Canada. As a company listed on the TSX Venture Exchange, it also publishes audited financials, a level of transparency almost no other Canadian bitcoin platform offers.
Netcoins is one of the most regulated exchanges in Canada. Beyond its FINTRAC MSB registration, it has been registered as a Restricted Dealer with the Canadian securities regulators in every province since 2021, among the very first platforms to achieve this, and is working toward full investment dealer registration and CIRO membership. Its parent, BIGG Digital Assets, is publicly traded and must publish audited financial statements, adding a transparency layer most private exchanges can't match.
Bitcoin Well is registered with FINTRAC (registration M19811620) and with Revenu Québec, and is fully legal in Canada. As a company listed on the TSX Venture Exchange (BTCW), it also publishes audited financials — a level of transparency almost no other Canadian bitcoin platform offers.
Both Netcoins and Bitcoin Well are registered with FINTRAC and fully compliant with Canadian regulations. Netcoins holds the higher regulatory tier as a CSA Restricted Dealer working toward full CIRO investment dealer registration; Bitcoin Well is a FINTRAC-registered MSB and a TSXV-listed public company with audited financials.
Customer support
Netcoins offers email, live chat and phone support seven days a week, and phone support remains rare among crypto exchanges. Its reputation for customer service is strong, with reviewers consistently praising the fast, human support and quick verification, though some negative reviews cite blocked withdrawals during compliance checks. Check the live Trustpilot page for the current rating before quoting a number.
Bitcoin Well runs an in-house Canadian support team available around the clock, and you can browse their help centre, open a support ticket, or even call or text their team. Most crypto platforms do not offer a phone number, so this is a big plus. Their Trustpilot rating sits around 4 stars across a modest number of reviews.
Netcoins offers email, live chat and phone support seven days a week, and phone support remains rare among crypto exchanges. Its reputation for customer service is strong, with reviewers consistently praising the fast, human support and quick verification, though some negative reviews cite blocked withdrawals during compliance checks.
Bitcoin Well runs an in-house Canadian support team available around the clock, and you can browse their help centre, open a support ticket, or even call or text their team. Most crypto platforms do not offer a phone number, so this is a genuine plus. Their Trustpilot rating sits around 4 stars across a modest number of reviews.
Both platforms offer genuine phone support — rare in Canadian crypto. Netcoins is seven days a week with set hours; Bitcoin Well's in-house team is available around the clock. Neither is 24/7 automated — both offer real Canadian humans.
Conclusion
Both Netcoins and Bitcoin Well are strong, fully legal Canadian platforms, and the right choice depends on what you need.
Netcoins is the stronger pick for Canadians who want more than Bitcoin. As a CSA Restricted Dealer backed by publicly traded BIGG Digital Assets, it offers 60+ coins, a flat 0.5% fee, free Interac deposits and withdrawals, a Visa card with 3% bitcoin cashback, staking with regulatory approval, credit card purchases via Simplex, and seven-days-a-week phone support. The 0.5% fee plus spread combination is worth modelling for active traders — at that point NDAX's 0.2% flat fee may serve you better.
Bitcoin Well is the stronger pick for Canadians focused on Bitcoin specifically. Immediate self-custody on every purchase, bill payments for phone/electricity/CRA taxes, Lightning support, cash purchases at 200+ ATMs across Canada, and the transparency of a publicly traded TSXV company make it the most capable Bitcoin-only platform in Canada. The 1.2% online spread is not the cheapest — Bull Bitcoin's all-inclusive spread is typically slightly lower for pure online buyers — but Bitcoin Well's ATM network and TSXV listing are genuinely unique.
We recommend choosing Netcoins for Canadians who want a multi-coin platform with phone support and a Visa card, and Bitcoin Well for those focused on Bitcoin self-custody and ATM cash access. By using our referral links, you get $25 on Netcoins and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Netcoins nor Bitcoin Well meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
