Netcoins Vs. Bitbuy (Dec 2022) + $50 Bonus Inside

November 26, 2022
Reviews

When comparing Netcoins vs. Bitbuy the choice is easy. Unlike Netcoins, Bitbuy has low trading fees, high security, and transparency and allows credit/debit card purchases. Bitbuy also has a low spread of 0.46%, while on Netcoins, you have to pay a high spread as it's a broker (usually, it's between 0.9% and 1.5%). Both these crypto exchanges are regulated under FINTRAC as Money Service Businesses, but Bitbuy is also approved by the OSC and the CSA. Bitbuy keeps over 95% of its digital assets in cold storage, confirmed by The Blockchain Intelligence Group. On the other hand, there is no statement about how Netcoins store their users' funds. Netcoins is explicitly made for beginners, and you won't find any advanced trading tools like live charting on the platform. These are just a few reasons why I recommend Bitbuy to both beginner and experienced traders over Netcoins.

Netcoins Vs. Bitbuy: Which Crypto Exchange Is Better?

Netcoins is a Canadian crypto exchange that offers 35+ cryptocurrencies. However, you can't trade crypto with other cryptos in Netcoins. It's a beginner-friendly platform with to-the-point features. It's a great exchange if you're looking for a simple way to buy/sell digital currencies with Canadian dollars. You won't get any advanced trading tools or order types. Although the desktop and mobile apps have fantastic reviews, you will have to pay high fees to use the Netcoins platform to trade cryptocurrencies.

On the other hand, Bitbuy has Express Trade and Pro Trade, making it a better choice for beginners and serious traders. Like Netcoins, you'll be able to trade cryptocurrencies with a few easy clicks on Express Trade. The Pro Trade mode is made for experienced traders as it has live charting where users can find volume and order book data to craft their own trading strategies. Regarding security, Bitbuy is backed 1:1 by a Knox insurance policy (one of the best in the crypto world) and keeps over 95% of its digital assets in cold storage. As Bitbuy is regulated under FINTRAC and approved by the OSC and the CSA, it performs regular security and financial audits to maintain its regulatory status. Due to low trading fees, Knox insurance, excellent cold storage policy, and regulations, I recommend Bitbuy over Netcoins to all Canadian users.

Netcoins Vs. Bitbuy: Pros And Cons

Let's look at both these platforms' pros and cons separately.

Pros Of Bitbuy

  • Several payment methods, including credit/debit card
  • Low trading fees
  • Advanced trading
  • Backed with Knox insurance policy
  • Offers an Over the Counter desk (OTC)
  • 95% cold storage policy
  • Low spread of only 0.46%
  • Express Trade and Pro Trade
  • Offers a referral program

Pros Of Netcoins

  • 35+ cryptocurrencies
  • Beginner-friendly interface
  • Crypto visa card
  • Free fiat withdrawals
  • Phone support
  • $10 minimum investment

Cons Of Bitbuy

  • Deposits can take a few minutes
  • Fewer cryptocurrencies available
  • Low Android app rating
  • 1.5% withdrawal fee
  • $50 minimum deposit

Cons Of Netcoins

  • No advanced trading tools
  • High trading fees
  • Spread value between 0.9%-1.5%
  • Poor verification process
  • Doesn't support credit/debit card
  • No insurance policy mentioned
  • No cold storage policy

Bitbuy Vs. Netcoins: Pricing

Netcoins charges a fixed trading commission of 0.5%, which can be less than Bitbuy's 0%-1.50% trading fee for low trading volumes. But, Netcoins has a high spread of 0.9%-1.50%, which can hurt your profits a lot. Paying such high fees doesn't make sense for a crypto exchange with no advanced trading tools or support for credit/debit cards.

Netcoins mentions that deposits are free, but that only applies if you deposit over $3,000. Netcoins also states that it offers free withdrawals, but there's a high minimum withdrawal, and you must withdraw over $25,000 to avoid fees. By comparison, Bitbuy is more transparent about its fee structure. You'll always get free deposits on Bitbuy but have to pay a 1.5% fee on every withdrawal you make.

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PricingBitbuyNetcoins
Trading Fees0%-1.50% (depending on your tier level)0.5%
Deposit FeeFreeFree
Spread0.46%0.9%-1.50%
Withdrawal Fees1.5%Free
Minimum Withdrawal$50Not mentioned
Credit/Debit CardYesNo
Wire TransferYesYes
Interac e-TransferYesYes
Supports CADYesYes

Bitbuy Vs. Netcoins: Detailed Breakdown

Regulatory Compliance

These two crypto exchanges are regulated under FINTRAC as a Money Service Business and are allowed to operate in every Canadian province. Bitbuy is also approved by the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA). According to the report issued by the OSC and the CSA, Bitbuy is the only crypto exchange in Canada that is reliable and fully regulated by the Canadian authorities.

Security

Regular security measures like 2FA and KYC (Know Your Customer) are available on Bitbuy and Netcoins. But, Bitbuy has a 95% cold storage policy confirmed by The Blockchain Intelligence Group and performs regular security and financial audits to prevent hacks or thefts. On Netcoins, we have not found any cold storage policy, which is extremely dangerous in case of a cyber-attack. Bitbuy's mobile app uses biometrics and face ID for extra protection.

Bitbuy is covered with a Knox insurance policy, so the users will get their investments back if they get hacked. We have not found any insurance policy on the Netcoins platform.

Customer Support

Regarding customer support, both Bitbuy and Netcoins have done an excellent job. You'll get live chat and email support on these two changes. However, Netcoins also offer 24/7 phone support, which is rare for crypto exchanges. Bitbuy has online ticketing support where you can get your issues resolved right away.

Desktop And Mobile Interface

Bitbuy and Netcoins have an engaging interface, but Netcoins is made explicitly for new traders who want to buy/sell digital currencies. Netcoins desktop platform is straightforward as it doesn't have advanced trading tools or order types. You can deposit funds, buy/sell cryptocurrencies, withdraw funds, and that's it. You'll get precise instructions on how to use the platform when you sign up on Netcoins. Users can also watch live crypto prices and use the sidebar to navigate the platform.

Netcoins Vs. Bitbuy

Netcoins also provides a mobile app for iOS and Android and is perfect for new traders who don't want to get confused by advanced features. Like the desktop platform, the app is beginner-friendly and allows you to watch your portfolio and transaction history. It has a buy/sell page for trading cryptocurrencies and a separate page for deposits and withdrawals. Everything you can do on the desktop platform you can also do on the mobile app.

Netcoins Vs. Bitbuy
Bitbuy vs. Netcoins

Bitbuy's desktop platform is perfect for both beginners and experienced traders. It has Express Trade that allows you to trade cryptocurrencies quickly. It's made for beginners and is very easy to navigate. You also get a tutorial at the beginning, so you know exactly where to go and what to do. The interface looks a bit outdated, but you won't face any confusion.

Bitbuy vs. Netcoins

Unlike Netcoins, Bitbuy has a separate trading mode for experienced traders, known as Pro Trade. In this mode, you can access several advanced trading tools like live charting for making trading strategies. You can see live crypto prices and find order book data. It's easy to use and has all the instructions you need to get started.

Bitbuy vs. Netcoins vs. Bitbuy

The best part about the Bitbuy mobile app is that it also has Express Trade and Pro Trade, similar to the desktop platform. Unlike Netcoins, you can access advanced trading tools on the mobile app and place advanced order types on the go. Its user interface is easy to navigate, and you won't get confused at any stage.

Bitbuy vs. Netcoins vs. Bitbuy
Bitbuy vs. Netcoins vs. Bitbuy

Similarities Between Netcoins And Bitbuy

  • Offer Cryptocurrencies: These two exchanges offer users a wide range of cryptocurrencies.
  • Easy To Use: Both Bitbuy and Netcoins are easy to use and beginner-friendly.
  • Customer Service: You'll get 24/7 live chat and email support from these two crypto exchanges. Bitbuy also provides an online ticketing system for resolving minor issues.
  • Regulatory Compliance: Both these crypto exchanges are regulated under FINTRAC as Money Service Businesses and allowed to operate in Canada. Bitbuy is also approved by the OSC and the CSA and is reported by Canadian authorities to be one of the most reliable crypto exchanges in Canada.
  • 2FA and KYC: On Bitbuy and Newcoins, all new users must fill in their personal details in the KYC process. You'll also get two-factor authentication (2FA) for extra protection.
  • Free Deposits: You don't have to pay charges when depositing money in Bitbuy and Netcoins.
  • Mobile App: These exchanges provide iOS and Android mobile apps.
  • Support CAD: No need to convert your CAD and pay extremely high fees when depositing your money as Bitbuy and Netcoins support the Canadian Dollar.
  • Quick Buy/Sell Mode: You'll find a quick buy/sell mode on Bitbuy and Netcoins.
  • Crypto Wallet: As soon as you sign up on Bitbuy or Netcoins, you'll get your own crypto wallet where you can store your digital assets for free.

Differences Between Bitbuy And Netcoins

  • Insurance: Bitbuy is covered with a Knox insurance policy, while no insurance policies are mentioned on the Netcoins platform.
  • Transparency: Bitbuy is transparent about its fee structure. On Netcoins, you'll find the trading fees, but many hidden charges are not mentioned on the platform.
  • Security: Regarding security, Bitbuy is well-known in the Canadian crypto market due to regular audits and an exceptional 95% cold storage policy. Netcoins, on the other hand, has no cold storage policy, insurance, and regular audits, making it less secure than Bitbuy.
  • Advanced Trading Tools: Netcoins is explicitly made for beginners; that's why you won't find any advanced trading tools on the platform. On Bitbuy, you'll get access to live charting and will be able to find volume and order data.
  • Credit/Debit Cards: Bitbuy supports credit/debit card purchases, while you can't use your credit/debit card on Netcoins.
  • Spread: Bitbuy has a low spread value of 0.46% (mentioned on the platform), and Netcoins has a spread value between 0.9%-1.50%.
  • Number of Supported Cryptocurrencies: Bitbuy offers 25+ digital currencies, while you get 35+ digital currencies on Netcoins.
  • Trading Fees: Netcoins has a fixed 0.5% trading fee. Bitbuy charges a trading commission between 0%-1.50% (depending on your tier level).

Who Wins: Netcoins Or Bitbuy?

FeaturesBitbuyNetcoins
Top FeatureAdvanced trading toolsBeginner-friendly interface
ProLive charting and Bitbuy APICrypto visa card
Con1.5% withdrawal fee0.9%-1.50% spread
Regulatory ComplianceRegulated under FINTRACRegulated under FINTRAC
InsuranceCovered with Knox insurance policyNo insurance
Best ForAll categoriesBeginners
Credit/Debit CardsYesNo
AuditRegularlyNo
Customer SupportExcellentExcellent
UsabilityEasy-to-useEasy-to-use
Signup Bonus$20$50
Secure ServersYesNot mentioned
Cold Storage95% of digital assets are held in offline wallets (confirmed by The Blockchain Intelligence Group)Not mentioned

Why Bitbuy Is Better Than Netcoins

Due to the low trading fees, support for credit/debit cards, transparency, Knox insurance policy, and the 95% cold storage policy, I recommend Bitbuy to all beginners and experienced Canadian crypto traders.

Unlike Netcoins, which has high spread value and unclear security measures, Bitbuy is one of the most secure crypto exchanges in Canada, offering advanced trading tools to all its users. On Bitbuy, you'll get separate trading modes for new and serious traders to avoid confusion. Its verification process is smooth, and you get an online ticketing system for resolving minor issues instantly.

Why You May Still Want To Choose Netcoins Over Bitbuy

Netcoins has a beginner-friendly interface that only allows you to buy/sell digital currencies quickly. So, if you're a new trader wanting to start learning cryptocurrency investment, Netcoins might be a good option. Remember, you'll have to pay a high fee to trade on Netcoins.

In Summary

Bitbuy is better than Netcoins for a few reasons, including Knox insurance policy, a 95% cold storage policy, more transparency, lower fees and lower spreads. In fact, Bitbuy is one of the best crypto exchanges in Canada, which is why I recommend Bitbuy to all new and experienced Canadian crypto traders.

FAQs

Who owns Netcoins?

Netcoins is owned by Bigg Digital Assets and was founded in 2014. They started as a Bitcoin ATM solution provider but quickly launched a cryptocurrency trading platform.

Which coins are on Netcoins?

Netcoins offer 35+ cryptocurrencies, including Bitcoin and Ethereum.

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