Security Compliance
Bull Bitcoin is completely safe since you always take full custody of your bitcoin, you do not need to worry about hackers stealing your funds on the platform. However, there is still a level of trust needed because you do not buy the bitcoin yourself and must wait for it to be sent to your crypto wallet.
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.
Bull Bitcoin emphasizes the security of immediate self-custody, minimizing the risk associated with holding cryptocurrency on an exchange. It follows Canadian KYC regulations and is registered with FINTRAC, enhancing its security posture.
Netcoins, owned by BIGG Digital Assets, adheres to Canadian regulations and is registered with FINTRAC. Despite a past incident involving a software vulnerability, Netcoins has taken steps to secure its platform, though specifics on cold storage practices are not publicly detailed.
Regulatory Compliance
Bull Bitcoin is registered with FINTRAC as a Money Services Business and there is a full KYC procedure meaning Bull Bitcoin is fully compliant with Canadian regulations.
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.
Both Bull Bitcoin and Netcoins are registered with FINTRAC, demonstrating their compliance with Canadian laws and regulations. This adherence ensures they operate within the legal framework set by Canadian federal organizations, providing a level of trust and security for Canadian users.
Customer support
Since it is a small company, it may take some time for them to get back to you. Their opening hours are from 9 AM to 8 PM Mon-Fri with sporadic ability on weekends.The platform has a 4.9-star rating on Trustpilot with almost 200 reviews, so it’s clear that customers are extremely satisfied with the service.
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.
Bull Bitcoin offers support through email, and although it's a smaller operation, it maintains high customer satisfaction, as evidenced by its Trustpilot rating. The platform’s focus on simplicity means that support inquiries may be less frequent but highly specific.
Netcoins excels in customer support, providing 24/7 live chat, email, and even phone support – a rarity in the crypto exchange space. This comprehensive support system is reflected in its impressive Trustpilot score.
Conclusion
Both Bull Bitcoin and Netcoins serve the Canadian market effectively, each catering to different needs. While Netcoins offers a broader range of cryptocurrencies and a more beginner-friendly platform, Bull Bitcoin is declared the winner here for those prioritizing Bitcoin transactions. Its emphasis on immediate self-custody, straightforward buying process, and ability to pay bills with Bitcoin present a compelling case for users focused on Bitcoin. This unique approach to cryptocurrency trading, combined with its strong security posture and regulatory compliance, makes Bull Bitcoin an excellent choice for Canadians dedicated to Bitcoin.
Bull Bitcoin is the most cost-effective platform for trading Bitcoin in Canada, offering a unique feature that allows users to pay bills, including phone, electricity, and even taxes to the Canada Revenue Agency (CRA).
