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.
NDAX keeps roughly 95% of digital assets in cold storage using Ledger Vault, a big name in crypto security, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up, a policy we like since most exchanges leave it optional. Changing account details like your email or phone number requires submitting a selfie with a handwritten note, an old-school but effective defence against account takeover. As a CIRO member, NDAX also keeps client CAD balances in segregated accounts, though crypto assets themselves aren't covered by deposit insurance.
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.
NDAX keeps roughly 95% of digital assets in cold storage via BitGo Trust and Tetra Trust, two institutional-grade custodians approved as part of NDAX's CIRO membership, alongside multi-signature wallets and regular audits. Two-factor authentication is mandatory at sign-up. Changing account details like your email or phone number requires submitting a selfie with a handwritten note — an effective defence against account takeover. As a CIRO member, NDAX keeps client CAD balances in segregated accounts protected under the Canadian Investor Protection Fund (CIPF) in the event of insolvency. Crypto assets themselves are not covered by CIPF.
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. NDAX keeps 95% of digital assets in cold storage via BitGo Trust and Tetra Trust, enforces mandatory 2FA, and adds CIPF coverage on CAD balances as a CIRO investment dealer. Both platforms have excellent security track records with no hacks.
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.
NDAX is one of the most compliant platforms in Canada: a registered investment dealer and CIRO member since December 2024, licensed across all provinces and territories, and registered with FINTRAC and the AMF. It has also received CIRO approval to offer staking, which very few Canadian platforms can claim.
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.
NDAX is one of the most compliant platforms in Canada. It became a registered investment dealer and CIRO member on December 19, 2024, approved across all provinces and territories by the Canadian Securities Administrators. It is also registered with FINTRAC and the AMF, and has received CIRO approval to offer staking services, which very few Canadian platforms can claim.
Both Netcoins and NDAX are registered with FINTRAC and operate under Canadian securities regulation. NDAX holds the higher tier as a full CIRO investment dealer with CIPF coverage on fiat, while Netcoins operates as a CSA Restricted Dealer working toward the same standard.
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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take 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.
NDAX provides a knowledge centre answering the most common questions, plus live chat, email and phone support available Monday to Friday from 10 AM to midnight ET. When we contacted them, we got a reply in an impressive 20 minutes. Their team also responds to negative reviews publicly, which speaks well of how seriously they take support.
Both platforms offer phone, chat and email support — genuinely rare in Canadian crypto. Netcoins has the edge on availability with seven-days-a-week coverage; NDAX's response time in our testing (20 minutes) is faster than most. For complex account or compliance issues, both platforms are well regarded.
Conclusion
Both Netcoins and NDAX are strong, well-regulated Canadian platforms, and the right choice depends on what you value most.
NDAX is the stronger pick on regulatory depth: as a full CIRO investment dealer since December 2024, it offers CIPF coverage on CAD balances up to $1 million — a tier Netcoins hasn't yet reached — plus a lower flat 0.2% fee with no spread markup, staking on 12+ coins with CIRO approval, and a clean mobile app. The credit/debit card limitation and 20% staking commission are the main trade-offs.
Netcoins is the stronger pick if you want a slightly broader feature set: the Visa card with 3% bitcoin cashback, credit card purchases via Simplex, USD support, and the transparency of a publicly traded TSXV parent. The 0.5% fee plus spread is higher than NDAX's flat 0.2% for active traders, but for casual buyers the difference is modest.
We recommend choosing NDAX for most Canadians due to its higher regulatory tier, CIPF coverage, lower flat fee and CIRO-approved staking. By using our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Netcoins nor NDAX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
