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.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never been hacked since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held.
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.
Kraken keeps about 95% of user funds in cold storage, encrypts all account information, and physically secures its servers under constant surveillance. It has never been hacked since launching in 2013, one of the cleanest security records of any major exchange. Users can enable two-factor authentication, receive email notifications for every withdrawal, and benefit from account timeout protection. Kraken also publishes regular Proof of Reserves audits demonstrating customer funds are fully held. Note that Kraken's client assets are not covered by CIPF, which every user must acknowledge at sign-up.
Netcoins publishes full custody details: BitGo cold storage with air-gapped keys and Fireblocks for hot wallets, plus its parent company's blockchain surveillance tools. Kraken keeps roughly 95% of digital assets in cold storage, has a bug bounty program, and publishes regular Proof of Reserves. Both platforms have excellent security track records with no hacks. Kraken's Proof of Reserves audits give it a slight formal transparency edge; Netcoins' blockchain surveillance layer is a distinctive addition.
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.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians can use the platform with confidence, with one caveat: as a restricted dealer, its client assets aren't covered by CIPF insurance.
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.
Kraken is one of the most compliant exchanges available to Canadians. It completed the CSA's rigorous pre-registration undertaking process and obtained restricted dealer registration in April 2025, recognized nationally in every province and territory, while it works toward full investment dealer registration and CIRO membership. In the US, the SEC's lawsuit against Kraken was dismissed in early 2025, clearing its regulatory slate as the company prepares for a public listing. Canadians in every province can now use the platform with confidence — the old Ontario-only service restriction that existed before April 2025 no longer applies.
Both Netcoins and Kraken are registered with FINTRAC and operate as CSA Restricted Dealers authorized to serve Canadians in every province and territory. Both are working toward full CIRO investment dealer registration.
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.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
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.
Kraken offers 24/7 live chat and email support plus an extensive learning centre with helpful articles and guides. Support quality has historically been a sore point, with tickets sometimes taking a long time to resolve, though the live chat handles routine issues reasonably quickly.
Netcoins' seven-days-a-week phone, chat and email support is a genuine advantage — phone support is rare in Canadian crypto. Kraken's 24/7 live chat is the main counter-advantage for traders who are active outside business hours or in other time zones.
Conclusion
Both Netcoins and Kraken are strong, well-regulated options for Canadians, and the right choice depends on what you need.
Netcoins is the stronger pick for Canadians who want a beginner-friendly platform with a flat transparent fee, free Interac funding, a Visa card with 3% bitcoin cashback, seven-days-a-week phone support, and the reassurance of a publicly traded parent company with audited financials. The coin selection is smaller than Kraken's, and the spread-on-top-of-fee combination is worth modelling for active traders — at that point NDAX's flat 0.2% may serve you better.
Kraken is the stronger pick for Canadians who want more coins, pro-grade trading tools and 24/7 live chat support. Funding with free Interac e-Transfer and trading on Kraken Pro is one of the most cost-effective ways to access a wide range of assets in CAD. The April 2025 restricted dealer registration now covers every province and territory, including Ontario where it previously had restrictions. The main caveat is the absence of CIPF coverage on client assets, so long-term holders should withdraw to their own wallet regularly.
We recommend choosing Netcoins for most Canadians due to its beginner-friendly design, phone support and publicly traded parent company. By using our referral link, you get $25 and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Netcoins nor Kraken meets your requirements, explore our monthly-updated list of the best exchanges for Canadians for more options.
