Bybit Vs Netcoins: Which Is Better For Canadians In 2026?

How Do Bybit And Netcoins Compare, Fact By Fact?

Every row below comes from each company’s own pages and the Canadian registries, checked October 2026. Where a row has no fair winner, it says so.

What Are The Key Differences Between Bybit And Netcoins?

How Do You Fund And Cash Out Bybit And Netcoins In Canada?

Legacy Canadian accounts are withdrawal-only. No current funding methods. Not verified

What Does It Actually Cost To Buy On Netcoins?

Netcoins: Netcoins states no separate trading fee and an all-in price; the spread percentage is not published (2026-10-03). The old 0.5% flat fee is gone. Neither publishes a maker and taker schedule because there is no order book: the spread is the fee. If cost matters most, NDAX (flat 0.20%) or Kraken Pro are cheaper places to buy in Canada. Ranges reflect each platform’s published band, not a single quote. Bank and network fees are not included.

What Do Bybit And Netcoins Offer Beyond Buying And Selling?

Bybit Only

• Derivatives, copy trading, Earn (historic): Bybit offered derivatives, copy trading bots, staking, lending and an OTC desk globally. Canadian retail access ended in 2023.

Netcoins Only

• Staking: Staking on ETH, SOL and ATOM while the crypto stays held by Netcoins.
• Crypto lending: Borrow CAD against crypto with same-day funding; rates and LTV Not verified.
• OTC desk: Large trades with dedicated account managers and same-day settlement.
• Referral program: Invite a friend and both earn a cash reward after they sign up and trade; the amount is Not verified.

What Happens To Your Money If Bybit Or Netcoins Fails?

Bybit: Bybit has no Canadian registration or recognition, so no Canadian regulator stands behind a balance there. If you still hold funds, withdraw them to a wallet you control; Canadian accounts were set to withdrawal-only. Bybit's February 2025 hack, which it covered in full, shows the platform risk even outside Canada. VPN use breaks its terms and can freeze funds.

Netcoins: Netcoins is a CSA restricted dealer under the BCSC, so it must follow custody, disclosure and limit conditions, but CIPF never covers crypto. Customer crypto sits mostly in BitGo cold storage and Fireblocks hot wallets, and Netcoins says it carries insurance without giving the amount or insurer. No proof of reserves was found. If Netcoins failed or was hacked, you would rely on those custodians and any insurer paying out, and you would be an unsecured creditor for the rest. The parent company changed its name to Surge Digital Inc in 2026.

How Are Bybit And Netcoins Treated For Tax In Canada?

Bybit: Trades on Bybit were dispositions for CRA purposes. Export your history while withdrawal access lasts. Export formats: Not published.

Netcoins: Buying with CAD is not a disposition. Selling, swapping and spending crypto are dispositions you report to the CRA, and staking rewards are income. Export formats were not verified.

Selling, swapping or spending crypto is a disposition for the CRA on any platform. This is not tax advice: see my guide to crypto taxes in Canada.

Which Should You Choose, Bybit Or Netcoins?

Choose Bybit If

• You want a registered platform that serves Canadians today: Coinbase is our number one replacement, with free Interac e-Transfer funding and a Canadian restricted dealer registration.

Choose Netcoins If

• You want a broker app with 60+ coins, free Interac funding and phone support
• You value a long-registered Canadian dealer owned by a public company
• You can accept an unpublished spread in exchange for simple all-in prices

What Happened To Bybit?

Bybit left Canada in 2023. It stopped opening Canadian accounts on May 31, 2023, ended new deposits and contracts on July 31, and set September 30, 2023 as the date remaining positions would be liquidated. Bybit's own notice cited "recent regulatory development" under Canadian CSA rules.

The Ontario Securities Commission had already settled with Bybit Fintech Limited on June 22, 2022, with USD 2,468,910 disgorged. Its Canadian money services business registration (Bybit Fintech (Canada) Limited) shows as expired on March 8, 2025, and Bybit sits on neither the CSA authorized list nor the banned list.

What Should Bybit Users Use Instead?

Netcoins is the platform in this matchup that Canadians can actually use, so it wins by default. That is not the same as saying it is right for everyone, so here is how it stacks up.

For Bybit users, the closest replacement is Kraken. Kraken is a registered Canadian dealer with a wide altcoin list. Bybit-style derivatives are not available to Canadian retail anywhere.

Netcoins: Fees, Funding And Safety

Netcoins charges no separate trading fee: the quoted price includes its spread, and the spread percentage is not published on its fee page. Because you cannot see the spread in advance, compare a quote against another platform before a large buy.

Interac e-Transfer is free for deposits and cash withdrawals. Wire deposits are free over CAD 3,000, and wire withdrawals carry a CAD 50 processing fee under CAD 25,000. Netcoins' official fee page lists 65 coins, one of which (Bittensor) is trade-only.

Netcoins Inc. is a restricted dealer with the BC Securities Commission as principal regulator, and a FINTRAC-registered money services business. Certain investors in specific jurisdictions face an investment limit on purchases and sales over a rolling 12 months, except for listed assets.

It suits a Canadian-run buy-sell-hold app with a long list of coins.

Kraken: Fees, Funding And Safety

Kraken Pro starts at 0.40% maker and 0.80% taker at the entry tier and drops to 0.30% and 0.60% from CAD 2,500 of 30-day volume. Instant Buy and recurring buys cost 1% plus a spread, and custom orders cost 1.5%.

Interac e-Transfer deposits are free (minimum CAD 5, up to CAD 10,000 per transaction). Withdrawing by Interac costs CAD 10. Wire deposits are free, with an intermediary bank fee noted at 13.74. Kraken publishes no Canadian coin count. Taking its public pair list and removing the tickers its own Canada restrictions page bars gives roughly 490, which is a derived figure, not an official one.

Payward Canada Inc. (Kraken) is a CSA Restricted Dealer (decision of April 1, 2025) and a FINTRAC-registered money services business. It is not a CIRO member. Its Proof of Reserves snapshot of June 30, 2026 showed reserve ratios of 102.9% for BTC and 100.5% for ETH. Canadians cannot use margin or derivatives on Kraken.

It suits someone who wants a wide coin list and cheaper trading on Kraken Pro once past the first purchase.

Who Should Choose What In 2026?

• Netcoins: a Canadian-run buy-sell-hold app with a long list of coins.
• Kraken: someone who wants a wide coin list and cheaper trading on Kraken Pro once past the first purchase.

If you are still deciding, my 60-second quiz narrows it down, and my full ranking shows all ten picks with scores.

How Can You Check Whether An Exchange Is Allowed In Canada?

Do it before you deposit a dollar, because the status of a platform can change in months. Four checks take about ten minutes.

1. Look for the platform on the CSA list of crypto platforms authorized to do business with Canadians.
2. Search the CSA banned crypto platforms list, which includes entities ordered out by the Ontario Securities Commission and reciprocated by other provinces.
3. Search the FINTRAC money services business registry for the legal entity, and read the status column, because "Expired", "Ceased" and "Revoked" all mean the registration is gone.
4. Read the platform's own terms for a list of restricted locations. If Canada, or your province, is named, you are not allowed to use it, and a registered regulator cannot help you if something goes wrong.

Registration is also not the same as insurance. Crypto held at any Canadian platform is not covered by CIPF, so a registered dealer lowers the risk but does not remove it.