Security Compliance
Bitget uses two-factor authentication for security and emails you about logins or withdrawals. They offer an anti-phishing code for genuine emails and have a $300 million insurance for lost assets, which you can claim if not at fault.
Netcoins utilizes the services of Bitrank and QLUE to stay compliant by monitoring wallet addresses and transactions for fraud and connections to criminal enterprises.
Two-factor authentication is available to help keep your account secure.
When it comes to security, both platforms prioritize user safety. Bitget enhances user account protection with two-factor authentication and offers an emergency insurance coverage of $300 million. This aims to protect customer assets from unexpected losses. In contrast, Netcoins, while owned by a publicly-traded company, does not disclose specifics regarding customer funds storage. Nevertheless, the platform also offers two-factor authentication for bolstered account security.
Regulatory Compliance
Not regulated by Canadian financial institutions.
Netcoins is fully regulated in Canada. It is registered as a Money Services Business (MSB) with FINTRAC. Since Netcoins is also owned by Bigg Digital Assets, a publicly traded company, you can be sure that Netcoins is a safe exchange.
Operating within Canada means that exchanges must adhere to specific regulations and standards. Netcoins is registered as a Money Services Business with FINTRAC, making it fully compliant within Canada's regulatory framework. On the other hand, specifics about Bitget's compliance with Canadian regulations were not mentioned, but given its rise in popularity following the departure of giants like Binance, it's safe to assume they're treading cautiously within the Canadian market.
Customer support
Reviewers say customer support is unhelpful but most of them are beginners. Bitget is not a crypto exchange for beginners and if you do not know how copy trading or futures trading works, then it is not a good idea to use them, as this customer points out.
Netcoins has excellent customer support with an impressive 85% excellent customer service reviews on Trustpilot with a 4.5-star rating. Netcoins offers email support, live chat and phone support, which is rare for crypto exchanges.
Bitget's reputation in the support department is a mixed bag. Their Trustpilot rating sits at 2.7 stars, with some customers voicing concerns about the perceived efficacy of their copy trading feature. However, this might stem from a misunderstanding of the feature itself. Netcoins, in contrast, shines in this arena, with a remarkable 4.5-star rating on Trustpilot. They provide 24/7 live chat, email, and even rare phone support, underscoring their commitment to customer service.
Conclusion
Both Bitget and Netcoins bring commendable services to the table for Canadian crypto enthusiasts. While Netcoins offers a beginner-friendly experience with stellar customer support, Bitget edges out as the winner. This is attributed to its comprehensive feature set, low trading fees, and alternative offerings like futures and copy trading which cater to the more seasoned trader.
Bitget has recently launched the Bitget Card, enabling users to spend cryptocurrency globally, enhancing accessibility and convenience. Furthermore, the platform now features zero transaction fees for USDC/USDT spot trading, positioning itself as a cost-effective option for Canadian users aiming to optimize their trading strategies. These updates further distinguish Bitget from Netcoins, offering both advanced features and financial advantages that are especially beneficial for traders focused on minimizing costs while maximizing efficiency.
Netcoins stands out with its 24/7 uninterrupted trading availability, ensuring users can access the market anytime without delays. This is particularly useful compared to other exchanges that may experience downtime or maintenance. Additionally, Netcoins offers limit orders, which give traders more control over their buy/sell strategies—something not all platforms provide. Personalized price alerts are another feature that keeps users ahead of market shifts, offering a competitive edge when compared to exchanges with fewer notification options.
We recommend choosing Bitget over Netcoins for your cryptocurrency trading needs. By opting for Bitget through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Bitget nor Netcoins meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
