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.
To secure your Uphold account, you can enable two-factor authentication.
Uphold trading platform utilizes cold storage for your safety.
Security is paramount in the world of digital assets. Netcoins flaunts its association with BIGG Digital Assets, a publicly traded company, thus implying a higher level of transparency and trustworthiness. They further harness the services of Bitrank and QLUE for robust transaction monitoring. On the flip side, Uphold speaks mainly about compliance, leaving users yearning for more in-depth information on technological security measures. Although both platforms offer two-factor authentication, the depth of Netcoins' proactive security measures seems to provide an edge.
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.
Uphold is fully regulated in the USA. They are compliant with the Office of Foreign Assets Control (OFAC) and record keeping regulations with the Bank Secrecy Act (BSA). It's Canadian-friendly as well.
In terms of compliance within the Canadian framework, Netcoins stands tall, being fully regulated and registered as a Money Services Business with FINTRAC. This highlights its commitment to adhering to national standards. Uphold, while not explicitly mentioning Canadian compliance, showcases its adherence to regulations in the United States and boasts of a transparency page detailing their currency reserves.
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.
Uphold has good reviews about their customer service teams. They offer help centres on their website and within the app.
You can contact Uphold’s customer support via their online ticketing system on their website.
Netcoins goes above and beyond in the realm of customer service, providing 24/7 live chat, email, and even rare phone support. User interactions with their support have generally been met with swift and efficient resolutions. Uphold takes a more digital-first approach, directing users to an online ticketing system. Reviews indicate a satisfactory response rate, though they lack the comprehensive touchpoints offered by Netcoins.
Conclusion
Both Netcoins and Uphold provide solid platforms for Canadians to delve into the world of cryptocurrency. However, when taking into account security, customer service, and a tailored experience for Canadians, Netcoins emerges as the winner. Its commitment to transparency, user experience, and robust security measures makes it a more favorable choice for those navigating the Canadian crypto waters.
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 Uphold 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.
Uphold sets itself apart by offering an international debit card with cashback rewards and no foreign transaction fees, which is a big advantage for global traders. However, for Canadians, it's important to note that direct bank deposits and withdrawals aren't currently supported. Instead, Canadians can use credit or debit cards for trading, though credit card transactions come with a 3.99% fee. This limitation may make other exchanges more appealing for users who prefer traditional banking methods.
We recommend choosing Netcoins over Uphold 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 Uphold 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.
