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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen.
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.
Wealthsimple Crypto requires new customers to complete KYC before trading and supports two-factor authentication, along with Touch ID or Face ID for convenient logins. Client crypto is held in cold storage by regulated custodian Gemini Trust Company, backed by insurance and a Coincover partnership for asset recovery. One transparency note: Wealthsimple disclosed a data breach in September 2025 via a third-party supply chain attack, where some personal data was affected but no funds were stolen. Eligible fiat balances are covered by CIPF as a CIRO investment dealer.
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. Wealthsimple Crypto holds client crypto in insured cold storage with Gemini Trust, adds Coincover for asset recovery, and carries CIPF coverage on fiat as Canada's only CIRO investment dealer. Both platforms are highly secure with no fund losses on record.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
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.
Wealthsimple Crypto holds the strongest regulatory position in Canadian crypto: it is the country's only CIRO-registered crypto investment dealer and is listed by the CSA as an authorized platform. Eligible fiat balances are covered by the Canadian Investor Protection Fund up to $1 million, though crypto assets themselves fall outside CIPF coverage. Wealthsimple has been a staple of Canadian investing since 2014 and manages tens of billions in assets.
Both Netcoins and Wealthsimple Crypto are registered with FINTRAC and operate under Canadian securities regulation. Wealthsimple holds the higher tier as Canada's only 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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
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.
Wealthsimple has a comprehensive help centre on its website and in-app, covering both crypto basics and platform how-tos. Support runs through live chat and email around the clock, and quality is generally well regarded, though there's no dedicated phone line for crypto issues. One tax perk worth knowing: the app provides a downloadable crypto realized gain/loss report that imports cleanly into tax software.
Netcoins' seven-days-a-week phone, chat and email support is a genuine advantage — phone support is rare in Canadian crypto. Wealthsimple's 24/7 live chat availability is the counter-advantage for users active outside business hours. Neither platform offers 24/7 phone support.
Conclusion
Both Netcoins and Wealthsimple Crypto are strong, well-regulated Canadian options, and the right choice depends on what you value most.
Wealthsimple Crypto is the stronger pick on regulatory depth: as Canada's only CIRO-registered crypto investment dealer, it holds CIPF coverage on fiat balances up to $1 million — a tier Netcoins hasn't yet reached. Add 140+ coins alongside your TFSA, RRSP and stocks in one app, staking on ETH/SOL/ADA/DOT, crypto-to-crypto swaps, limit orders, free CAD deposits and withdrawals, Canada Post cash deposits and 24/7 live chat. The 2% Core-tier fee is the main trade-off for active traders.
Netcoins is the stronger pick if you want 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 with audited financials. The flat 0.5% fee plus spread is competitive for casual buyers; active traders should model costs versus Wealthsimple's tiered structure, and NDAX's 0.2% flat fee is worth considering for high-volume trading on either platform.
We recommend choosing Wealthsimple Crypto for most Canadians due to its unmatched regulatory standing, CIPF coverage, 140+ coins and all-in-one investing. By using our referral link, you get $50 and support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If neither Netcoins nor Wealthsimple Crypto meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto.
