Score
NETCOINS
Canada
10-15 years
Common Financial Service License|
Suspicious Overrun|
High potential risk
https://netcoins.ca/
Website
Influence
C
Influence Index NO.1
Austria 2.36
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Licenses
FINTRACOver-Operation
Common Financial Service License
Exchange Info
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X
Facebook
Customer Service Email AddressWikiBit Risk Alerts
2The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!
Common Financial Service License goes beyond their business with the Canada FINTRAC license (License No.: M15560893), please be aware of the risk!
Canada
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Time Machine
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7 Days
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| Aspect | Information |
|---|---|
| Company Name | NETCOINS |
| Registered Country/Area | Canada |
| Founded Year | 5-10 years |
| Regulatory Authority | Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) |
| Cryptocurrencies offered/available | Around 35 inclu. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) |
| Trading Platforms | NETCOINS Web, NETCOINS Mobile |
| Deposit & Withdrawal | Bank transfers, wire transfers, Interac e-Transfer |
| Educational Resources | Online guides, tutorials, and articles |
Overview of NETCOINS
Netcoins, functioning as a cryptocurrency exchange, operates within the purview of Canada's Financial Transactions and Reports Analysis Centre (FINTRAC) with a Common Financial Service License. Its platform offers access to a diversified selection of over 35 cryptocurrencies for trading, each subject to maker and taker fees, namely 0.50% and 0.75% respectively. The fee structure is tiered based on trading volume. Users can fund their accounts through fee-free Interac e-Transfers and crypto deposits.
Pros and cons
| Pros | Cons |
| Regulated by the Canadian Securities Exchange (CSE) | Higher fees than some other exchanges |
| Wide variety of cryptocurrencies available | No margin trading or short selling available |
| Easy to use interface | Bank wire withdrawals have a minimum withdrawal amount of $3,000 CAD or $2,000 USD |
| Supports Interac e-Transfer, crypto deposits, and bank wire deposits | Not as well-known as some other exchanges, such as Coinbase or Binance |
| Offers a welcome bonus of $20 when you deposit and trade $100 | Some popular cryptocurrencies, such as Dogecoin and Shiba Inu, are not available |
Security
It is important for users to exercise caution and implement their own security measures when engaging in virtual currency exchanges. This can include practices such as setting strong passwords, enabling two-factor authentication, and keeping personal information confidential. Additionally, users are advised to stay informed about the latest security practices and be vigilant against potential phishing attempts or fraudulent activities.
Cryptocurrencies available
Netcoins offers a selection of over 35 cryptocurrencies for trading and investment. Here are some examples from their portfolio: Bitcoin (BTC) \ Ethereum (ETH) \ Cardano (ADA) \ Solana (SOL) \ Litecoin (LTC) \ Bitcoin Cash (BCH) \ Polkadot (DOT) \ Cosmos (ATOM) \ Uniswap (UNI) \ Near (NEAR) \ Quant (QNT) \ Tezos (XTZ)
Netcoins offers a range of cryptocurrency prices, including Bitcoin (BTC) at $39,504.52, Ethereum (ETH) at $2,477.66, Cardano (ADA) at $0.38900, Solana (SOL) at $33.4200, and Litecoin (LTC) at $110.080. The trading volume highlights variations across assets, with Bitcoin Cash (BCH) showing a 24-hour change of +2.33%, and Tezos (XTZ) encountering a -1.86% shift. Netcoins sets itself apart with its rapid coin listing speed, streamlining portfolio diversification for users.
How to open an account？
Opening an account with Netcoins is a straightforward process:
Click on “Sign Up” to start.
Provide your email and create a password.
Confirm your agreement with the Terms of Service.
Click “Create Account” to complete the process and set up your Netcoins account
Fees
Netcoins' trading structure includes a 0.5% fee, covering price spreads. Interac e-Transfers for cash withdrawals and crypto deposits carry no charges, and bank wire withdrawals above $25,000 CAD or $6,000 USD are exempt from fees. Crypto withdrawal fees are set to accommodate blockchain network expenses, featuring outlined minimums for different cryptocurrencies like 0.0005 BTC for Bitcoin and 0.01 ETH for Ethereum. Comprehensive details about staking and specific crypto withdrawal fees can be found on Netcoins' Zendesk page.
| Tier | Volume (CAD) | Maker Fee | Taker Fee |
| Starter | Up to 500 | 0.50% | 0.75% |
| Silver | 500 to 10,000 | 0.40% | 0.65% |
| Gold | 10,000 to 50,000 | 0.30% | 0.55% |
| Platinum | 50,000 to 100,000 | 0.20% | 0.45% |
| Diamond | 100,000 and up | 0.10% | 0.35% |
Deposit & Withdrawal
Users can fund their accounts using Interac e-Transfers and crypto deposits, all without incurring any fees. Additionally, bank wire deposits surpassing $3,000 CAD or $2,000 USD also come with no charges.
| Payment Method | Buy | Sell | Add Cash | Cash Out | Speed |
|---|---|---|---|---|---|
| Interac e-Transfer | Yes | Yes | Yes | No | Fast |
| Crypto Deposit | Yes | Yes | Yes | No | Fast |
| Bank Wire Transfer | Yes | Yes | Yes | Yes | Moderate |
Compare with Similar Brokers
Among cryptocurrency platforms like Netcoins, Newton, and Shakepay, Netcoins offers an array of over 35 cryptocurrencies, accompanied by maker and taker fees of 0.50% and 0.75% respectively. In comparison, Newton boasts 50+ cryptocurrencies with a 0.00% maker fee and a 0.20% taker fee, while Shakepay supports 6 cryptocurrencies with 0.65% maker and 0.75% taker fees. While Netcoins requires a minimum account deposit of $50, Newton has no such requirement, and Shakepay sets a $100 minimum. Netcoins sweetens the deal with a $20 welcome bonus for a $100 deposit, Newton entices with a $25 referral bonus, and Shakepay, for now, refrains from promotions.
| Feature | Netcoins | Newton | Shakepay |
| Cryptocurrencies amount | Over 35 | 50+ | 6 |
| Fees | Maker fee: 0.50%, Taker fee: 0.75% | Maker fee: 0.00%, Taker fee: 0.20% | Maker fee: 0.65%, Taker fee: 0.75% |
| Account minimum | $50 | $0 | $100 |
| Promotions | Welcome bonus: Get $20 when you deposit and trade $100 | Referral bonus: Get $25 when you refer a friend | None |
Controversies the exchange has experienced
There is no mention of any controversies or specific issues encountered by NETCOINS in the provided information. It is recommended to refer to independent sources, review platforms, and news articles to gather further information on any controversies or challenges that NETCOINS may have encountered.
13 ratings