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Netcoins vs. Crypto.com: What Works Better For Canadians in 2024

Oleg Galeev

Last updated December 27, 2023

In the evolving landscape of cryptocurrency exchanges in Canada, Netcoins and Crypto.com stand out as prominent players. As Canadians seek the best platform tailored to their needs, distinctive features set these two apart.

Description

Netcoins is a Canadian crypto exchange owned by a publicly-traded company called Bigg Digital Assets. Netcoins was founded by Mitchell Demeter who created the world’s first Bitcoin ATM in 2013.

Crypto.com is a crypto exchange that is gaining popularity in Canada. It offers its own coin (CRO), staking, lending, NFTs, and pre-paid Visa crypto cards offering cashback. Crypto.com offers everything in one place and is suitable for Canadians looking for an easy way to buy crypto.

Coins

Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, USDC, Algorand, XRP, Avalanche, Ethereum Classic, SHIB, DOGE, MATIC, AXS, Cardano, Solana, Polkadot

150+

Fees

Free deposits
Free fiat withdrawals
0.5% trading fees

Free deposits
Variable Withdrawal fees
Send crypto to other crypto.com users for free
0.04 to 0.4% maker/taker fees

Pros

Free fiat and crypto deposits
Free fiat withdrawals
Interac e-Transfer available
Phone support
Instant verification
Licenced and regulated in Canada
Educational resources available
Great customer service

Wide range of coins available
Suitable for beginners and pro traders
Interac e-Transfer available
Deposits take up to one day to process
Visa cards
Staking
NFT marketplace
20+ fiat currencies supported
Free deposits

Cons

Few cryptocurrencies available
No credit/debit card purchases
CAD only
High trading fees

No crypto education articles
Poor customer service

Account Limits

$10 min for Interac e-Transfer
$500 min for wire transfer
$50 min for online bill payment

Low

App

Methods to buy

Interac e-Transfer
Bank wire
Online bill payment

Interac e-Transfer

Security

2FA available
Registered with FINTRAC

100% coins held in cold storage
Ledger Vault partnership
Multi-factor authentication
Mandatory whitelisting of withdrawal addresses

Mobile and Desktop Trading

Netcoins offers a harmonious trading experience between its mobile and desktop platforms. The app has garnered a 4.0-star rating from the Apple App Store and 4.0 on Google Play. It’s especially notable for its beginner-friendly approach, where users can execute market or limit orders directly. On the other hand, Crypto.com's mobile app has secured a 4.5-star rating on the Apple App Store and a 4.5-star rating from Google Play. With more than 56,000 and 200,000 reviews respectively, it provides a comprehensive suite of features, while their Pro desktop exchange caters to those looking for advanced charting and trading tools.

Netcoins

Netcoins’ trading platform is simple to use with a sidecar offering all you need including options to buy, sell and trade. Your dashboard has two big options to either deposit funds or deposit crypto.

Buying crypto with Netcoins is easy thanks to its simple trade feature.

The Netcoins app has a 4.1-star rating from 171 reviews on the Apple App Store. It has a 3.6-star rating on Google from 127 reviews.

The app is easy to use and beginner-friendly. It is almost an exact copy of the desktop platform but optimized for mobile.

Netcoins Desktop App (trading screen)

Netcoins Desktop App (funding account)

Netcoins Mobile App (balances)

Netcoins Mobile App (trading)

Crypto.com

In the crypto.com app, users can buy and sell crypto easily. You can also directly stake or lend your crypto, apply for a crypto.com card, track favourite coins, withdraw to external wallets and more. The app is an all-in-one trading platform that’s user-friendly and suitable for beginners.

The app has a 4.3-star rating from 56,000 reviews on the Apple App Store and a 3.9-star rating from 200,000 reviews on Google Play.

If you’re looking for more advanced tools, you can use crypto.com’s desktop exchange. The exchange offers more charting and order types but the interface can be confusing for beginners. The crypto.com app has everything you need, so you’d only use the Exchange for slightly lower fees or advanced order types.

Advanced Desktop Trade

List of coins

Crypto.com app interface

Crypto.com app interface while trading

Security Compliance

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.

Crypto.com is highly secure crypto exchange. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more.

Crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft.

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication - such as FaceID - to

When it comes to safety, both exchanges have taken measures to protect their users. Netcoins, being under the umbrella of the publicly traded BIGG Digital Assets, lends confidence to its users. However, specific details on how customer funds are stored remain elusive. Crypto.com, on the other hand, takes a proactive approach with 100% of customer funds held in cold storage, ensuring minimal exposure to external threats.

Regulatory Compliance

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.

Crypto.com is fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

In the Canadian crypto space, regulatory compliance is pivotal. Netcoins is registered as a Money Services Business with FINTRAC, ensuring it operates within the Canadian legal framework. It also employs services like Bitrank and QLUE to oversee wallet transactions for any illicit activities. Crypto.com has stepped up by becoming the first global crypto exchange to align with the Ontario Securities Commission's (OSC) standards. Such compliance indicates that Crypto.com is dedicated to operating within Canadian regulations.

Customer support

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.

The customer support for crypto.com is quite slow. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down.

Netcoins sets a gold standard in customer service, providing 24/7 live chat, email, and even phone support - a rarity in the crypto world. They have an 85% "excellent" score on Trustpilot, reinforcing their commitment to customer satisfaction. In contrast, Crypto.com, while offering an array of features, has received feedback suggesting room for improvement in their customer service department.

Conclusion

Both Netcoins and Crypto.com are commendable platforms, bringing their unique strengths to the Canadian crypto market. However, considering the seamless user experience, robust customer support, and the trust established as a homegrown brand, Netcoins edges out as the winner.

We recommend choosing Netcoins over Crypto.com for your cryptocurrency trading needs. By opting for Netcoins through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Netcoins nor Crypto.com 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.

Author

Oleg Galeev

Cryptocurrency Specialist

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.