The crypto industry has experienced a substantial boom over the last year. Ethereum grew 987% since the start of the year and Bitcoin 345% (at time of writing). The reason for this hyper-growth can be summarized in one word: inflation.
Inflation is the rise in prices of goods in an economy and typically represents people's loss in purchasing power. In the U.S., inflation reached 6.2% in October (the highest in 30 years). In Canada, inflation reached 4.4% in September (the highest in 18 years).
As growing inflation continues to push people to buy cryptocurrencies, safety and security in the market have become vital topics for many crypto trading platforms. That said, one company, in particular, is leading the way in rebuilding Canadians’ trust in the cryptocurrency space - Netcoins.
Buying bitcoin with a regulated crypto trading platform
On Sept. 30, 2021, Netcoins became Canada’s first publicly-owned, fully regulated crypto trading platform.
The fact Netcoins is a public company (CSE: BIGG) (OTCQX: BBKCF) (WKN: A2PS9W) means all of Netcoins’ financials are public information. As such, anyone can view the company's quarterly earnings, business operations and leadership announcements.
Being fully regulated means they must meet all the regulatory requirements imposed on them by Canada’s regulatory bodies, including the CSA (Canadian Securities Administrators) and the BCSC (British Columbia Securities Commission).
These imposed regulations will undoubtedly translate into increased government oversight into Netcoins’ operations - from how the infrastructure is set up to the cryptocurrencies they offer, how customer funds are stored, and the fees they charge.
For Netcoins, regulation was an important step towards giving Canadians more confidence in the platform and buying cryptocurrencies while repairing an industry that’s been previously fraught with frauds and failures.
Getting started: How to buy bitcoin in Canada with Netcoins
If you’re ready to buy bitcoin with Canada’s first publicly-owned, fully-regulated crypto trading platform, then head over to Netcoins.ca to create an account in just a couple of minutes.
First, you’ll need to go through the verification process before depositing Canadian Dollars into your account via e-transfers. Bank wires and crypto deposits are also accepted.
Once the funds are in your Netcoins account, you can use them to buy bitcoin, ethereum, or any of the other cryptocurrencies they offer. Selling is just as straightforward and only takes about 2 minutes.
Users on the Netcoins platform can also benefit from limit orders (or trades that self-execute at specific prices), price alert notifications (so you can stay updated on any price movements with cryptocurrencies) and a beloved mobile app that lets you buy and sell crypto while on-the-go.
One of the biggest benefits of buying bitcoin with Netcoins is that there are no fees for funding, cash withdrawals, cancellations or limit orders. In other words, you get to keep more money when buying bitcoin.
The best part? Users can get started buying bitcoin with as little as $10.
As people continue to find ways to protect their wealth from record inflation numbers, they’re turning to cryptocurrencies like bitcoin. Now, thanks to Netcoins, Canadians can enjoy buying bitcoin in a trusted, fully regulated crypto trading platform.
Netcoins received their “restricted dealer license,” a unique registration used for companies that do not fit under any other categories (learn more here). While this licence applies exclusively to Canada, Netcoins has plans to expand to the U.S. & European markets.