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.
NDAX keeps its digital assets in cold storage using Ledger Vault, although they do not state the percentage. Ledger is a big name in the cryptocurrency space, known for making secure hardware wallets.
When signing up to NDAX, you are forced to enable two-factor authentication. Most crypto exchanges will leave this optional, but we think everybody should do it, so we like this mandatory policy.
Additionally, when you wish to change your details such as your email, address, phone number etc, NDAX requires you to submit a selfie with a handwritten note outlining the request.
Netcoins provides robust security measures, including storing 95% of assets in cold storage, requiring 2FA for account access, and following strict identity verification procedures. NDAX takes security just as seriously, if not more, and doesn't specify the exact percentage of assets held in cold storage. It enforces 2FA, uses Ledger Vault for asset protection, and requires a selfie with a handwritten note for any account detail changes.
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.
NDAX is registered as a Money Service Business with FINTRAC and AMF, NDAX is fully compliant with Canadian regulations.
Both Netcoins and NDAX are compliant with Canadian laws and regulations. Netcoins is registered with FINTRAC as a Money Service Business (MSB) and adheres to the regulations set forth by the provincial securities commissions. Likewise, NDAX is registered as an MSB with FINTRAC and AMF, underlining its commitment to full compliance with 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.
NDAX provides a knowledge centre on its website. Articles here answer some of the most common questions. They also have a live chat function, which is handy when you need a quick answer. You can also email them for support. Confusingly, NDAX lists its phone number on its contact page, which is rare for a crypto exchange to do. We weren’t sure if this meant they had phone support, so we reached out via email to ask. They got back to us a very impressive 20 minutes later to let us know that they only have email support. So that’s that. Still, that’s the fastest response we’ve seen.
Netcoins sets a high bar with its 24/7 customer support service, which includes live chat, email, and phone support. It is one of the few crypto exchanges offering phone support. On the other hand, NDAX offers a knowledge center on its website, live chat, and email support. It also lists a phone number but does not provide phone support. Despite this, NDAX impresses with its fast email response time.
Conclusion
While both Netcoins and NDAX provide commendable services in terms of user experience, trading features, security, and compliance, Netcoins emerges as the winner in this comparison. Its comprehensive customer support, including phone assistance, along with a wide range of cryptocurrencies and commendable user ratings on both Google Play and the App Store, give it an edge over NDAX.
We recommend choosing Netcoins over NDAX 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 NDAX 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.
