The Bottom Line: Netcoins is made for investors that want to buy crypto quickly and simply. The total purchase fee to buy Bitcoin was 1.41% on Mar 01, 2021. This was 5th place out of 11 exchanges. Their website has a good user interface but they do not have a mobile app yet. There is also no advanced features if you're an experienced trader. Overall, Netcoins is simple and fast but there are slightly better alternatives for Canadians such as Newton and Shakepay.
Coins Available (6):
BTC, ETH, XRP, LTC, BCH, USDT
Spread: 1.71% (Mar 01, 2021)
Trading Fees: 0.50% buy/sell
BTC Withdrawal Fee: 0.0005 BTC
E-Transfer: Free, almost instant, $50 min.
Wire Transfer: Free, 0-3 days, $500 min.
Online Bill Payment: Free, 1-2 days, $50 min.
Credit Card: ~5%, instant, $71 min.
Pros & Cons
This is what Netcoins looks like:
Netcoins List of Features
Netcoins vs. the Competition
I reviewed 7 crypto exchanges at the exact same time to see how they compare in price and features. For the reference price, I used Google's price of Bitcoin (which takes data from Coinbase). This reference price was the baseline to compare all exchanges fairly. I then opened every platform at the same time to record the data.
Best Funding Fee
Fastest Deposit Time
Best Trading Fee
BTC Buy Price
BTC Sell Price
Reference Price Difference
Crypto Withdrawal Fees
First $5 of network fees are covered
Get $10 free when you trade $100
$25 free when you trade $100
$30 free when you trade $100
Best Purchase Fee
This data was recorded March 01, 2021
Where Netcoins Shines:
Simple and Fast - Signing up for Netcoins is extremely easy. You can start buying Bitcoin within minutes if you're a new user and they don't have a super long sign up process like other exchanges. The platform is also very beginner friendly.
Where Netcoins Falls Short:
No Mobile App - Netcoins does not have an iOS or Android at this time. Everything must be done through their website. The website is user-friendly and works fantastic.
Fees - Netcoins fees are not bad overall, however they are not the best in Canada. For buying Bitcoin, Netcoins was fifth place out of 11 exchanges with a 1.41% total purchase fee. Their crypto withdrawal fees were also eighth highest out of 11.
No Professional Tools - Netcoins definitely caters to beginners and making Bitcoin purchases easy. The most advanced features are limit orders and price alerts.
Is Netcoins Right For You?
Netcoins makes it easy to open an account and buy crypto within minutes. They have good fees however, they don't have the best fees. For that reason, Canadians looking to buy crypto should use Newton or Shakepay instead. They will get slightly better prices with the same or more features.
- Trade 6 cryptocurrencies
- Fast funding and reasonable fees
- Get $10 free when you trade $100