The crypto industry has experienced a substantial boom over the past year. Ethereum grew over 900% since the start of the year and Bitcoin over 300% (at time of writing). This hyper-growth has drawn the attention of everyday folks, savvy investors and even regulators.
With more interest and curiosity coming from the general public around buying bitcoin and other cryptocurrencies, safety and security in the market has naturally become a crucial and necessary topic to discuss. What was previously a relatively unregulated space, is now starting to grow and mature into one that places a stronger emphasis on consumer protection.
For instance, many cryptocurrency exchanges are now licensed Money Service Businesses under FINTRAC. However, one crypto company is taking it further by also inviting in regulatory oversight – Netcoins, Canada’s first publicly owned, fully regulated crypto trading platform.
Buying bitcoin in a regulated setting
While it may have been a challenge to buy bitcoin in Canada a few years ago, today, the process has been streamlined to make trading easier, safer and more efficient for the end consumer.
As the first publicly-owned, fully regulated crypto trading platform in Canada, Netcoins offers greater transparency into its financial operations, team, and voluntarily abides by stricter guidelines put in place by regulators.
These parameters include how the infrastructure is set up, the cryptocurrencies they offer, how customer funds are stored and more, with the end goal being greater consumer protection, whilst keeping the user experience simple and easy to use. Liken it to the regulation of cannabis dispensaries – in its early days, many were operating as unregulated entities. Purchasing cannabis was possible, but it wasn’t entirely safe. With the introduction of more stringent regulations, dispensaries unable to adhere to the guidelines had to shut down, while those that could meet and follow regulatory standards went on to operate with more responsible sales and higher quality control with public safety at top of mind.
The same logic applies to the cryptocurrency space. Inviting regulatory oversight brings a certain level of validation, demonstrating that the proper checks and balances are in place with Netcoins.
It’s easy to buy bitcoin, ethereum, litecoin and more in a safe environment
Netcoins makes it easy for Canadians to buy and sell bitcoin, ethereum and other cryptocurrencies. It can be broken down into four simple steps:
- Create an account at Netcoins.ca
- Verify your identity
- Fund your account
- Buy and sell the cryptocurrency of your choice
For those unfamiliar with crypto trading, verifying your identity is a key part of a legally required “Know Your Customer” process. This helps prevent fraud and allows cryptocurrency exchanges like Netcoins to confirm you are who you say you are.
Funding is almost always instant with Interac e-transfers. Users can also choose to fund via bank wires, online bill payments or a crypto deposit. The best part – Netcoins charges no funding fees.
Trading is even easier with Netcoins currently offering nine different cryptocurrencies. If you’re looking to buy bitcoin, buy ethereum or any of the other cryptocurrencies offered, all you have to do is enter the amount you’d like to purchase and confirm your trade.
Because cryptocurrencies can be bought and sold in fractions, users can start with an amount they are comfortable with, whether it be $10, $100, $1000 or more. Selling is equally as quick and easy. Users can even enjoy free cash withdrawals and cash out whenever they want. Netcoins is an open-loop system, which means users have the option to transfer their cryptocurrencies out of Netcoins into an external wallet as well.
To learn more and buy bitcoin, ethereum and other cryptocurrencies, visit Netcoins.ca.
Netcoins is owned by BIGG Digital Assets, a public company traded under CSE: BIGG | OTCQX: BBKCF | WKN: A2PS9W.