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.
Since April 2025, VirgoCX operates as a non-custodial platform, meaning it never holds your crypto. The coins you buy are delivered to your own wallet, so there is no pool of customer funds on the exchange for hackers to steal. This replaces the old model, where assets were held in cold storage with third-party custody and covered by crime insurance. The new approach is actually closer to what we always recommend anyway: holding your own coins in your own Canadian crypto wallet. Fiat balances are held with Canadian banking partners.
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.
Since April 2025, VirgoCX operates as a non-custodial platform, meaning it never holds your crypto. The coins you buy are delivered to your own wallet, so there is no pool of customer funds on the exchange for hackers to steal. This replaces the old model, where assets were held in cold storage with third-party custody and covered by crime insurance. The new approach is actually closer to what we always recommend anyway: holding your own coins in your own Canadian crypto wallet. Fiat balances are held with Canadian banking partners.
Netcoins publishes full custody details: BitGo cold storage with air-gapped keys and Fireblocks for hot wallets, plus blockchain surveillance. VirgoCX protects users through its non-custodial model — it never holds customer crypto — along with 2FA, SSL encryption and ongoing activity monitoring. 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.
VirgoCX is registered with FINTRAC as a money services business (MSB M19955733) and appears on the Canadian Securities Administrators' list of crypto platforms authorized to do business with Canadians, so it is fully legal in Canada. It originally registered as a restricted securities dealer in 2022 but did not complete CIRO investment dealer registration, which is why it pivoted to the non-custodial model in April 2025.
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.
VirgoCX is registered with FINTRAC as a money services business (MSB M19955733) and appears on the Canadian Securities Administrators' list of crypto platforms authorized to do business with Canadians, so it is fully legal in Canada. It originally registered as a restricted securities dealer in 2022 but did not complete CIRO investment dealer registration, which is why it pivoted to the non-custodial model in April 2025.
Both Netcoins and VirgoCX are registered with FINTRAC and fully legal in Canada. Netcoins holds the higher regulatory tier as a CSA Restricted Dealer working toward full CIRO investment dealer registration; VirgoCX is on the CSA's authorized list as a registered MSB.
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.
If you need help, you can contact VirgoCX's support team via email or live chat, and they offer multi-language support. Not many exchanges offer live chat.
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.
VirgoCX offers support via email and live chat with multi-language support. Not many Canadian exchanges offer live chat at all, which is a genuine plus for newer users navigating the wallet setup process for the first time.
Netcoins' seven-days-a-week phone, chat and email support is a genuine advantage — phone support is rare in Canadian crypto. VirgoCX's multi-language live chat is accessible and useful for newer users. Neither platform offers 24/7 support.
Conclusion
Both Netcoins and VirgoCX are strong, well-regulated Canadian options, and the right choice depends on what you value.
Netcoins is the stronger pick for Canadians who want a custodial platform with a flat transparent fee, free Interac funding, a Visa card with 3% bitcoin cashback, credit card purchases via Simplex, USD support, seven-days-a-week phone support, and the transparency of a publicly traded parent company. The 0.5% fee plus spread is clear and predictable, and the instant automated verification is one of the fastest account-open experiences in Canada.
VirgoCX is the stronger pick for Canadians who want zero trading commissions across 90+ cryptocurrencies and are comfortable managing their own wallet. The April 2025 non-custodial pivot means your crypto is never on the exchange — it goes straight to your own wallet — which eliminates custodial hack risk entirely. The wallet setup adds one step for beginners, but Quick Trade and live chat keep things accessible.
We recommend choosing Netcoins for Canadians who want a full-service custodial platform with phone support and a Visa card, and VirgoCX for those who want zero commissions and non-custodial security across 90+ coins. By using our referral link for Netcoins, you get $25 and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Netcoins nor VirgoCX meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
