Netcoins.ca Review: We Spent $100 To Fully Test Their Platform

Netcoins Quick Facts

Ready to get started? Open a Netcoins account here. Not sure if Netcoins is right for you? Take our exchange quiz.

Is Netcoins Legit and Safe for Canadians in 2026?

Yes. Netcoins is a fully regulated, publicly traded Canadian crypto exchange. It is listed as a CSA-authorized Crypto Asset Trading Platform (Amended Decision September 29, 2025), holds FINTRAC MSB registration, stores client crypto via BitGo cold storage, and completed a SOC 2 Type 1 audit in September 2025. Its parent company BIGG Digital Assets is publicly traded on the TSX Venture Exchange (TSXV: BIGG), meaning quarterly financials are publicly filed and audited.

I first tested Netcoins in 2022 and the thing that stood out was the public company structure. When you deposit money on most crypto exchanges, you are trusting a private company with limited financial disclosure. Netcoins’ parent BIGG Digital Assets files quarterly financials with the TSX Venture Exchange. Those numbers are audited. You can look up exactly how much cash and digital assets the company holds, what its revenue is, and whether it is operating in a financially sound way. As of October 2025, Netcoins held approximately $225 million in assets under custody and $18 million in cash and digital assets. That is a level of transparency that private Canadian crypto companies cannot match.

The custody situation, which the old article described as unclear, is now documented. Netcoins uses BitGo for cold storage custody. BitGo is an institutional-grade custody provider used by major crypto companies globally. This information is available in Netcoins’ Trust Centre and through BIGG Digital Assets’ public filings.

The SOC 2 Type 1 audit completed September 12, 2025 is a meaningful security milestone. It means an independent auditor verified that Netcoins’ security controls are designed appropriately. The SOC 2 Type 2 audit, expected July 2026, will verify that those controls operate effectively over time. Netcoins is one of the only Canadian exchanges to hold this certification, and when the Type 2 is complete it will lead on formal security certification among Canadian-native platforms.

Security measures in place:

• BitGo institutional cold storage custody
• Two-factor authentication (mandatory for withdrawals)
• Multi-signature wallets
• Withdrawal address whitelisting
• Blockchain Intelligence Group and QLUE transaction monitoring (Netcoins’ sister company)
• SOC 2 Type 1 certified (September 2025)
• CSA Restricted Dealer status with provincial regulatory oversight

What Is Netcoins’ Track Record in Canada?

Netcoins was founded in Vancouver in 2014 and has operated continuously for over 11 years. It held $225 million in assets under custody as of October 2025, processed over $917 million in year-to-date trading volume through Q3 2025, and generated $2.8 million in trading and staking revenue in Q3 2025 alone. It has never suffered a major security breach.

Netcoins Key Milestones

How Do You Sign Up and Verify Your Account on Netcoins?

Sign-up requires an email, password, phone number, government-issued photo ID, proof of address, and a selfie. You also complete an investor questionnaire on risk tolerance and financial background as required by Canadian regulations. Verification is now largely automated and completes within minutes for most users, provided documents are submitted in PDF format.

What you need:

• Email address and password
• Phone number for verification
• Government-issued photo ID (driver’s licence or passport)
• Proof of address (utility bill, bank statement, credit card statement, or government-issued certificate dated within 90 days)
• Selfie with a handwritten note confirming your identity
• Investor questionnaire: income, risk tolerance, investing experience, and intended account use

The investor questionnaire is a Canadian regulatory requirement under the CSA framework, not a Netcoins preference. Based on your answers, Netcoins may set initial trading limits appropriate to your stated experience and financial situation.

One practical note from years of testing: the old article documented needing 5 attempts to verify due to unclear file format requirements. That process has improved. The automated KYC system works well when you submit documents in PDF format and ensure your selfie is clear and well-lit. Most accounts now verify within minutes. If you hit a manual review, expect up to 24 hours. The most common failure point is blurry or screenshot ID uploads. Submit PDFs of your documents whenever possible.

How Do You Add Funds to Netcoins?

The recommended method for Canadians is Interac e-Transfer: free, minimum $10 CAD, arrives within minutes. Wire transfer is available with no fee for deposits over $3,000 but carries a $30 fee for deposits of $3,000 or under. Minimum wire deposit is $500 CAD or USD. Crypto deposits are free at the network level. No credit or debit card deposits are supported.

Interac e-Transfer (Recommended)

Free. Minimum $10 CAD. No maximum published. Typically arrives within a few minutes. The process: click Fund in your Netcoins account, select Interac e-Transfer, and the platform provides a reference number and email address to send to through your bank’s online banking. Clear and straightforward after the one-time setup. Fastest and cheapest way for most Canadians to fund their account.

Wire Transfer

Free for deposits over $3,000 CAD. A $30 fee applies for wire deposits of $3,000 or under. Minimum $500 CAD or USD. Takes 1 to 2 business days. Your bank may also charge an outgoing wire fee. Better suited for larger deposits where the bank-level paper trail is useful or when you are depositing USD rather than CAD.

Crypto Deposit

Send BTC, ETH, or any supported coin directly to your Netcoins wallet address. Free at the platform level. Standard blockchain confirmation times apply. Always use the correct network when depositing. Netcoins does not support deposits from TRC-20, BNB/BSC, or OMNI networks. Standard ERC-20 and Bitcoin mainnet are supported. An error here can result in lost funds.

Minimum Deposit Notes

Interac minimum: $10 CAD. Wire minimum: $500 CAD or USD. Minimum XRP deposit: 20 XRP. Always check the in-app deposit screen for the latest minimums per asset before sending.

CAD Withdrawals

Interac e-Transfer withdrawals are free with no minimum stated. Wire withdrawals carry a $50 fee for amounts under $25,000. USD withdrawals are processed by wire only with a $1,000 USD minimum. Fiat withdrawals typically process within a few minutes to one business day depending on your bank.

What Does Netcoins Actually Cost?

Netcoins uses an all-in spread model. There is no separate trading fee on top of the price. The spread, which is built into the displayed buy and sell prices, ranges from approximately 0.5% to 1.5% depending on market conditions and the asset being traded. Interac deposits and withdrawals are free. Wire transfers carry fees in certain scenarios. Crypto withdrawals carry a network fee shown before confirmation.

The fee model changed since the old article was written. The old review described a separate 0.5% trading fee. Netcoins has moved to an all-in spread model where the price you see already includes Netcoins’ margin. There is no line-item trading fee at checkout. What you see is what you pay. For most popular assets like BTC and ETH, the spread is typically around 0.5% to 0.9% during normal market conditions. For less liquid assets it can be wider.

When I tested Netcoins by depositing $100 via Interac:

• Deposit: $100 received, no fee
• Bought Bitcoin at the displayed all-in price: approximately 0.5% to 0.9% spread embedded in the price
• Sold Bitcoin back: similar spread on the sell side
• Withdrew CAD via Interac: free, arrived within minutes
• Total round-trip cost: approximately 1% to 1.8% in spread on a $100 trade

Netcoins Fee Summary

All fees verified against official Netcoins fee documentation as of June 17, 2026. Spreads vary with market conditions. Always check in-app before trading.

How Does Netcoins Make Money?

Netcoins earns revenue through the spread embedded in the buy and sell prices it displays. There are no separate commission lines. Wire transfer fees and the OTC desk are secondary revenue sources. As a publicly traded company, Netcoins discloses this revenue quarterly: Q3 2025 trading and staking revenue totalled $2.8 million. The all-in spread model means you always know the total cost before confirming a trade.

The transparency of Netcoins’ fee model is one of its genuine differentiators. You see the spread on the trade preview screen before you commit. There is no separate transaction fee that appears during checkout. What the spread represents is Netcoins’ margin between the price it pays to source the crypto and the price it sells to you. It is the same model as every broker, but Netcoins makes it visible upfront rather than hiding it inside the headline price without disclosure.

What Features Does Netcoins Offer Canadians in 2026?

Netcoins in 2026 offers: 60+ coins, staking on ETH/SOL/ATOM, an OTC desk for $25,000+ trades, APX Lending for BTC/ETH-backed loans, the Netcoins Visa card (3% BTC cashback), limit orders, market orders, free Interac deposits and withdrawals, USD account support, and a Private Wealth service for high-net-worth clients.

60+ Coins Including 2025 Additions

The old article listed 6 coins. As of August 2025, Netcoins added 8 more tokens bringing the total to 60+. The new additions include ENA (Ethena), HYPE (Hyperliquid), TAO (Bittensor), SUI, PUMP, PENGU, FARTCOIN, and MOG, alongside existing assets including BTC, ETH, SOL, XRP, ADA, DOGE, AVAX, DOT, LINK, SHIB, LTC, BCH, UNI, AAVE, USDC, and many more. See the full coin list on netcoins.com. For Canadians wanting altcoins beyond BTC and ETH in a regulated account, Netcoins’ 60+ selection covers mainstream assets well. It is not 400+ like Kraken, but it has grown substantially and covers most major use cases.

Staking: ETH, SOL, ATOM

Staking launched in 2024. Three assets are supported: Ethereum, Solana, and Cosmos (ATOM). Rewards are delivered automatically. The old article said Netcoins did not offer staking. That was accurate at the time but is no longer correct. Staking is now a live feature and contributes to Netcoins’ revenue ($2.8M trading and staking revenue in Q3 2025). Check current staking yields in-app before committing, as APYs vary with network conditions. See our guide on crypto staking and taxes in Canada before staking for the first time.

OTC Desk

The old article said Netcoins had no OTC desk. It was wrong even at the time. The OTC desk is fully operational with a $25,000 CAD minimum, same-day settlement for both crypto and fiat, dedicated account support, and competitive all-in pricing that typically beats the standard spread. Available to both retail clients and institutional buyers in Canada and the US. Contact Netcoins directly through netcoins.com/otc to get a quote and arrange a trade.

APX Lending (Crypto-Backed Loans)

Launched in Q4 2025 via an in-app partnership with APX Lending. Borrow cash or USDC against your BTC or ETH holdings without selling them. The in-app Loan Calculator shows available loan amounts based on your existing holdings. Useful for Canadians who want liquidity without triggering a taxable disposition by selling. Under current CRA guidelines, borrowing against crypto does not create a taxable event the way a sale would. Visit netcoins.com/crypto-lending for current terms.

Netcoins Visa Card

A prepaid Visa card available to all Canadian residents except Quebec. Earns 3% BTC cashback on all purchases up to $100 in annual rewards, then 1% after reaching the $100 threshold. Rewards are converted to BTC on the 11th of each month. No card acquisition fee, no activation fee, no purchase fees, no ATM withdrawal fees. A $1 monthly inactivity fee applies. A 1.5% foreign exchange transaction fee applies on non-CAD purchases. For a card with the highest BTC cashback rate at 3%, this compares well against other Canadian options. See our guide to crypto Visa cards in Canada for comparisons.

Private Wealth Service

For high-net-worth individual and institutional clients. Dedicated relationship management, access to the OTC desk with preferential pricing, and personalized service. Contact Netcoins directly to inquire about eligibility and service terms.

Order Types

Market orders (instant execution at current price) and limit orders (execute at a specified price you set). Both available on the web platform and mobile app. No advanced order types beyond these two. For Canadians who want stop-loss, OCO, or other professional order types, Kraken or NDAX are better options.

How Does Netcoins Compare to Other Canadian Exchanges?

Netcoins sits in a useful middle ground: more coins than Shakepay or Bull Bitcoin, simpler and more beginner-friendly than Kraken, with a more transparent all-in fee structure than platforms that hide spreads. The spread is higher than NDAX‘s flat 0.20% for active traders, but the public company structure, SOC 2 certification, and free Interac make it a solid choice for Canadians who prioritize regulatory transparency.

Fees verified June 17, 2026. See our full best exchanges list for current rankings.

What Are the Biggest Complaints About Netcoins?

Netcoins’ Trustpilot score is 3.7/5 with 553 reviews as of June 2026. The old article cited “85% excellent, 4.6 stars” which is completely outdated. The dominant complaints are account freezes during withdrawals, accounts closed without explanation, and phone-based compliance calls that users find uncomfortable for a financial platform. Positive reviews highlight ease of use, fast verification, and responsive support for routine issues.

Account Freezes and Withdrawal Blocks

The most serious complaint pattern. Multiple Trustpilot reviews describe accounts being frozen when users attempt to withdraw crypto to an external wallet for the first time, or when making larger-than-usual transactions. Netcoins’ compliance team responds to these reviews explaining that FINTRAC regulations require additional verification for certain transactions. The explanation is accurate: regulated Canadian exchanges must implement AML controls that can result in holds. The frustration is also accurate: being unable to access funds you own is a real problem. The pattern is more concentrated around first-time large withdrawals and first-time external wallet transfers.

Compliance Phone Calls

Several reviewers note being required to speak with Netcoins’ compliance team by phone, with no written communication option provided. For a financial platform in 2026, this absence of paper trail bothers some users who prefer documentation of compliance conversations. Netcoins’ own Trustpilot response to these reviews acknowledges the requirement while noting it is driven by FINTRAC obligations.

Account Closures Without Explanation

A smaller but consistent pattern: accounts closed suddenly with no detailed explanation. Netcoins cites AML and KYC compliance obligations in its responses. For affected users, the closure often comes without warning and access to funds is temporarily suspended during review. This is not unique to Netcoins among regulated Canadian exchanges, but it is documented in the current review landscape and worth being aware of before depositing significant amounts.

Wire Withdrawal Fee Surprises

The $50 wire withdrawal fee for amounts under $25,000 catches some users off guard, particularly those who came to Netcoins expecting completely free withdrawals. Interac e-Transfer withdrawals are genuinely free, and for most Canadians that is the right method. But users who try to wire smaller amounts to their bank are surprised by the fee. The solution is straightforward: use Interac for all withdrawals under $25,000.

Scam Awareness

As with every Canadian exchange, scammers impersonate Netcoins support staff via email, phone, and social media. Netcoins will never contact you unsolicited asking you to verify your account or transfer funds to a new wallet. Always access Netcoins through netcoins.com directly. See our guide on common crypto scams in Canada for what to watch for.

Does Netcoins Restrict or Freeze Accounts?

Yes, accounts can be frozen or restricted by Netcoins’ compliance team if transactions are flagged as unusual, if KYC re-verification is required, or if activity is inconsistent with the investor profile on file. These holds are driven by FINTRAC regulations and the CSA framework Netcoins operates under. Most holds are temporary pending document submission or a compliance call. A small number of accounts have been permanently closed.

Because Netcoins is a regulated Canadian exchange, it has legal obligations around anti-money laundering and know-your-customer requirements. These obligations sometimes result in account restrictions that feel arbitrary to users who are simply moving their own money. Understanding that these restrictions come from regulatory requirements rather than arbitrary policy helps set expectations. The first time you withdraw a significant amount of crypto to an external wallet, budget for a possible verification step.

Can Netcoins Track Where You Send and Receive Crypto?

Yes. All on-chain crypto transactions are permanently recorded on the public blockchain. Netcoins can see wallet addresses associated with your account through its Blockchain Intelligence Group monitoring systems. Under FINTRAC rules, any virtual currency transaction over $10,000 CAD equivalent must be reported. This applies to all regulated Canadian exchanges.

Netcoins uses Blockchain Intelligence Group (a BIGG Digital Assets subsidiary) and QLUE for transaction monitoring. These tools can analyze on-chain activity to flag transactions associated with known high-risk addresses or criminal enterprises. This is a compliance requirement for regulated exchanges, not a Netcoins-specific policy.

How Is Netcoins’ Customer Support?

Netcoins offers 24/7 live chat, email, and phone support. Phone support is a genuine differentiator: most Canadian crypto exchanges do not offer phone lines. For routine questions, live chat response is fast and agents are knowledgeable. For account-level issues involving compliance holds, support quality is more variable, and some users report being routed to phone calls rather than written communication.

In my own testing, Netcoins support has been among the more responsive of any Canadian exchange I have contacted for routine questions. Email replies have typically arrived within minutes rather than hours. The phone line, which most exchanges do not offer, is a meaningful advantage for Canadians who prefer speaking to a human for financial matters or who are less comfortable with chat-only support. The 4.8/5 App Store rating reflects a genuinely positive day-to-day user experience. The 3.7/5 Trustpilot score reflects the subset of users who encountered compliance-related friction, which is a real pattern worth taking seriously.

Who Should Use Netcoins (and Who Shouldn’t)?

Netcoins is best for Canadian beginners and intermediate buyers who want a clean, transparent exchange backed by a publicly accountable company, with free Interac deposits, 60+ coins, staking, and the unique combination of a Visa card and crypto-backed lending. It is not the right choice for active traders who need the lowest possible fees, or for experienced traders who need advanced charting and order types.

Netcoins Is a Good Fit If You:

• Are buying crypto for the first time and want a straightforward Canadian-built platform with phone support
• Want free Interac deposits and free Interac withdrawals with no hidden trading fees at checkout
• Value the accountability of a publicly traded parent company with quarterly audited financials
• Want to stake ETH, SOL, or ATOM in a regulated Canadian environment
• Want 60+ coins including newer assets like TAO, SUI, HYPE, and ENA in a regulated account
• Need an OTC desk for a $25,000+ transaction with same-day settlement
• Want to borrow against BTC or ETH without selling through the APX Lending integration
• Want a Visa card earning 3% BTC cashback (except in Quebec)

Netcoins Is Not the Right Choice If You:

• Want the lowest trading fees. NDAX at 0.20% flat is significantly cheaper for active trading
• Want more than 60 coins or early altcoin listings. Kraken (400+) is the regulated option for wider selection
• Want staking on more than 3 assets. NDAX offers 13 stakeable assets
• Need futures, margin, or advanced order types beyond market and limit
• Need to deposit via credit or debit card. Coinbase supports card funding
• Are in Quebec and want the Netcoins Visa card (not available in Quebec)

Conclusion: Is Netcoins Worth It for Canadians in 2026?

The Netcoins I tested in 2022 and the Netcoins of June 2026 are meaningfully different. The coin list grew from 6 to 60+. Staking launched for three assets. An OTC desk opened for large trades. APX Lending integration went live for crypto-backed loans. The fee model became more transparent with an all-in spread model. The SOC 2 Type 1 audit was completed. The CSA Amended Decision was updated.

What has not changed: the free Interac deposits and withdrawals, the beginner-friendly interface, the public company accountability through BIGG Digital Assets, the phone support option, and the commitment to being a clean, compliant Canadian platform rather than chasing the widest feature set.

The trade-off that matters most for Canadians evaluating Netcoins is the spread versus the transparency. At 0.5% to 1.5% all-in, Netcoins is not the cheapest way to buy Bitcoin in Canada. NDAX at 0.20% flat is materially cheaper for regular buyers. But Netcoins shows you the full cost before you confirm, holds SOC 2 Type 1 certification, uses BitGo custody, and operates under publicly filed financials. For Canadians who value that transparency and accountability over shaving a fraction of a percent on each trade, Netcoins earns its place at #8 on our list.

Open a Netcoins account here. Take our exchange quiz to compare options or ask questions in r/OCryptoCanada.

Netcoins Compared to Other Canadian Exchanges

• NDAX vs. Netcoins
• Newton vs. Coinbase
• Shakepay vs. Netcoins
• Wealthsimple Crypto vs. Netcoins

Frequently Asked Questions About Netcoins

Is Netcoins safe for Canadians?

Yes. Netcoins is a CSA-authorized Crypto Asset Trading Platform (Amended Decision September 29, 2025), FINTRAC-registered Money Services Business, and subsidiary of publicly traded BIGG Digital Assets (TSXV: BIGG). Client crypto is stored via BitGo cold storage. Netcoins completed a SOC 2 Type 1 security audit in September 2025 and has $225 million in assets under custody. It has never suffered a major security breach.

What are Netcoins’ fees?

Netcoins uses an all-in spread model. There is no separate trading fee. The spread, built into the displayed price, ranges from approximately 0.5% to 1.5% depending on market conditions. Interac deposits and withdrawals are free. Wire deposits carry a $30 fee for amounts under $3,000. Wire withdrawals carry a $50 fee for amounts under $25,000. Crypto withdrawals carry a network fee shown before confirmation. Verified June 17, 2026 at Netcoins fee documentation.

How many coins does Netcoins support?

60+ cryptocurrencies as of June 2026, including BTC, ETH, SOL, XRP, ADA, DOGE, AVAX, DOT, LINK, SHIB, LTC, BCH, UNI, AAVE, USDC, and newer additions from August 2025 including HYPE, TAO, SUI, ENA, and others. See the full list at netcoins.com.

Does Netcoins offer staking?

Yes. Netcoins supports staking for ETH, SOL, and ATOM. Rewards are delivered automatically. Staking was introduced in 2024 and is now a live feature contributing to Netcoins’ platform revenue. Check current yields in-app before staking as APYs vary. See our guide on crypto staking and taxes in Canada.

Does Netcoins have an OTC desk?

Yes. Netcoins’ OTC desk handles trades of $25,000 CAD or more with same-day settlement for both crypto and fiat, dedicated advisor service, and competitive all-in pricing. Available to Canadian and US clients. Contact the OTC desk through netcoins.com/otc.

Does Netcoins have a Visa card?

Yes. The Netcoins Visa prepaid card is available to all Canadian residents except Quebec. It earns 3% BTC cashback on purchases up to $100 in annual rewards, then 1% after. No acquisition fee, no activation fee, no purchase fees, no ATM fees. A $1 monthly inactivity fee and a 1.5% FX fee on non-CAD transactions apply. Rewards convert to BTC on the 11th of each month. See our guide to crypto Visa cards in Canada for comparisons.

Is CIRO membership complete for Netcoins?

Not yet. As of June 2026, Netcoins has applied for CIRO membership but the application is still in progress. NDAX, Shakepay, Wealthsimple Crypto, and Wealthsimple are currently the Canadian crypto platforms with completed CIRO investment dealer membership. CIRO membership would add CIPF coverage on cash balances held with Netcoins. Once complete this will be a significant additional protection for Canadian clients.

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