How Do Netcoins Work
One of the first cryptocurrency exchange sites in Canada, Netcoins was established in 2014. It started off by offering solutions for virtual Bitcoin ATMs and later added private brokerage services for significant institutional crypto investors.
With time, Netcoins transformed into a user-facing cryptocurrency trading platform and increased its attention to ordinary customers’ trading requirements.
Features of Netcoins
1 User Friendly Design
The Netcoins platform is quite intuitive to use. It focuses more on the requirements of those who are new to the bitcoin industry and offers them an easy-to-use trading frontend.
Users of the platform can also establish price alerts for the coins they like and get real-time SMS messages when such coins achieve their predetermined price targets.
2. Customer Service for Netcoins
To address client questions, Netcoins has a comprehensive FAQ section and provides customer help via a variety of methods, such as:
Message me at support@netcoins.ca
(Through the “Contact Us” page)
Phone Support Page
Aid Icon
Additionally, you may connect with Netcoins on Facebook, Google Plus, Instagram, LinkedIn, and Twitter.
3. The Netcoins Affiliate Program
Every time you recommend a friend to Netcoins, you will receive 50 CAD, and your friends will be rewarded instantly with 10 CAD when they make their first cryptocurrency purchase or sale. There are no restrictions on the number of persons you can refer.
Netcoins-Supported Cryptocurrencies
Presently, 22 cryptocurrencies are supported by Netcoins. This is one of the main reasons I advise trading on a different platform outside Netcoins because it is lower than some other Canadian exchanges.
Netcoins Charges
Trading fees at Netcoins are 0.5 percent, which is hefty by industry standards. You are paying up to 5 times the price for the identical trades when compared to CoinSmart and Bitbuy, both of which charge between 0.1 percent to 0.2 percent.
With Netcoins, deposits in both fiat and cryptocurrency are free, as are withdrawals in fiat. The cost of a cryptocurrency withdrawal varies depending on the coin you’re withdrawing. For instance, given the current exchange rate, a withdrawal of Bitcoin costs roughly $15 CAD, whereas a withdrawal of USDC costs about $50 CAD.
My suggestion
Despite Netcoins’ benefits, there are a few significant negatives that lead to the recommendation that you use another exchange when trading. When compared to other exchanges, it supports a very modest selection of cryptocurrencies and doesn’t provide advanced charting tools or limit orders books for experienced traders.
In light of this, I advise switching to Bitbuy. Here are a few justifications.
In conclusion, Netcoins is a Canadian cryptocurrency trading service that offers simple, one-click trading and is user-friendly. Additionally, it is a safe cryptocurrency exchange platform and money service company that encrypts trading data with BitRank and QLUE. Nevertheless, despite its advantages, it has a few drawbacks that prevent me from fully endorsing its use, such as its restricted cryptocurrency compatibility.
Due to its high level of security, simplicity of use, and minimal trading fees, Bitbuy is our top-rated cryptocurrency trading platform. I can’t speak highly enough of Bitbuy if you’re serious about buying and selling cryptocurrencies in Canada.
