How To Use A Netcoins Referral Code - Comparewise
How to Use a Netcoins Referral Code

How to Use a Netcoins Referral Code

You’re probably here because you need to learn how to use a Netcoins referral code. The use of the Netcoins platform has become more widespread among individuals for its easy-to-use interface, which favors beginners.

As a bonus, you can gain more through the Netcoins referral program by using your unique Netcoins referral link. How then do you use this link, and what are the bonuses you stand to gain when you use it?

Before talking about how to use a Netcoins referral code, you should know that these codes are used to claim bonuses.

You get incentives from the platform when you register or refer people using such a code or link. To use the code before registering, put the digits in the space provided when filling in your registration details.

For beginners, it may be frustrating to keep hearing about this bonus but be unable to claim it. Thanks to this post, you’ll learn how to use a Netcoins referral code. Read on to the end so you won’t miss a single detail.

A brief overview of Netcoins

Netcoins was established in 2014 as a cryptocurrency trading platform in Canada. Canadian Dollars (CAD) may be traded for other cryptocurrencies like Bitcoin and Ethereum.

Netcoins is a subsidiary of BIGG Digital Assets, which is listed on the stock market. Because of this, the exchange’s financials are easier to understand than those of rival markets. FINTRAC has approved it as a Money Service Business (MSB).

Initially, Netcoins provided Virtual Bitcoin ATM solutions to almost 200,000 retailers worldwide. As a bonus, it also functioned as a private brokerage service for wealthy crypto investors. As the Bitcoin market matured, it transitioned into a digital asset trading platform accessible by desktop or mobile browser at any time.

Cryptocurrency might be intimidating to users as a relatively new and unfamiliar concept. Netcoins is sympathetic to these feelings.

It is important to the organization that all employees have the same opportunities to succeed financially. Its mission is to simplify and secure bitcoin trading while educating its customers on the benefits of cryptocurrency investment.

How does Netcoins work?

When you register, Netcoin uses a straightforward method of user verification. This is to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations in Canada. In a minute, you can handle the whole thing. You should be allowed to begin trading cryptocurrency one day after funding your account.

Before buying from Netcoins, you must sign up for an account and validate your email and phone number. After passing verification, you may begin buying coins (from your bank) using the Simplex integration.

Also, verify your identity using your physical address and copies of your identification documents are required. Only then can you fund your account and start trading cryptocurrencies.

Once approved to use the site, you’ll need to deposit either fiat cash (such as US or Canadian dollars). You also have the opportunity to use the cryptocurrency that you already possess. As soon as your money is in the system, you may start purchasing and selling at your leisure.

You should try to minimize the number of trades you make to save money. Each transaction will cost you 0.5% of your initial investment. You cannot carry out identity verification on Netcoins unless you are a Canadian citizen. To get money, you’ll need to use Simplex, which may involve identification verification.

Features of Netcoins

Neither the largest nor the most feature-rich, Netcoins is nevertheless a useful and reliable cryptocurrency exchange. For many crypto newbies and those looking for a straightforward trading platform, the features they offer are more than enough. The qualities they do possess are listed below:

  • Internet-based Application: In the meantime, Netcoins does not offer a downloadable application for Android or iOS. The only application they provide is web-based. You can sign up and start trading from the convenience of your desktop or mobile device.
  • Notifications on Prices: Send yourself an email or text message when the price of a cryptocurrency you’re tracking reaches a certain threshold. You can also get alerts when cryptos change by a specified percentage.
  • Wallet Addresses Can Be Saved: This feature allows you to save the addresses of your most often used wallets at your disposal.
  • Assistance: Netcoins offers customer service by phone, email, and live chat during regular business hours. Alternatively, you might visit their support hub.
  • Using Limit Order or Instant Order: You can use this feature to set a price limit or target, and it will carry out transactions once it hits it. There’s no use in lingering. You can place your order right away.
  • Different Methods of Payment: Deposits may be made using different methods, including e-transfer, credit card, or even direct exchange from one cryptocurrency wallet to another.
  • Cryptocurrency Education: You must understand many concepts in the crypto sphere. Thanks to the Netcoins platform, you now have a platform to learn about these concepts. It is excellent for young Canadians just getting started.

What are some downsides of Netcoins?

Though there are good sides to the platform, there are also some disadvantages to it. Below are some of such downsides:

Substantial Costs of Transactions

Neither the depositing nor withdrawing of fiat funds from Netcoins incurs any fees. However, you’ll be slapped with a trading cost of 0.5%, which is above average. The costs charged by other cryptocurrency exchanges are far lower, often between 0.1% and 0.2%.

Additionally, a charge will be assessed for using a credit card to fund your account due to third-party processor usage. Some coins have higher costs when withdrawing. As a result, the trading costs may seem less attractive compared to other cryptocurrencies.

Limitations on the Number of Available Order Varieties

There is a small selection of order options available on Netcoins. Trading the various cryptocurrencies offered on the market may be done using either immediate or time-bound orders. Stop, and conditional orders are unavailable presently. Furthermore, you are not permitted to submit consecutive orders. This lack of flexibility may frustrate more experienced traders.

Lack of Insurance Protection

Although several safeguards will protect your account on Netcoins, you will not be offered insurance. Netcoins will not provide any compensation in the event that hackers steal your monies or cryptocurrency assets. Given the value of your crypto assets, having them insured will give you peace of mind.

how to use a netcoins referral code - comparewise

What is a Netcoins referral code?

Before diving into the exchange or learning how to use a Netcoins referral code, you must have a good idea of how it works. A Netcoins promo code contains a combination of numbers and letters.

Inserting the combination when creating an account activates a special bonus unique to your user code. Simply put, it is a key to unlocking a special promotion from the platform.

You can also earn bonuses when you refer others using your code. After signing up, the platform will let you generate your link, which you can share with your friends and other interested parties.

However, the referee must have signed up and followed through with the instructions before both of you can enjoy the promotion,

One thing to note about the bonus you get with the code is that they have a few terms and conditions. Without meeting these requirements, claiming the incentive attached will be impossible. However, once you can beat the conditions, the bonus is all yours to use. In the next section, we’ll explore how to use a Netcoins referral code.

How to use a Netcoins Referral Code

Using this unique combination to claim a bonus follows simple steps; these are:

  • Get the Netcoins referral code
  • Sign Up on the exchange
  • Meet the terms and conditions

Get the Referral Code

Learning how to use a Netcoins referral code means that you must have one at hand. Once you have a code from the platform, you can proceed to the next step.

Sign Up on the Exchange

The next thing when learning how to use a Netcoins referral code is to register with the code. Remember, Netcoins complies with all Know Your Customer (KYC) and anti-money laundering (AML) standards in Canada. Their method is lightning fast. In a little over a minute, we were ready to go. Procedures are outlined below:

  • Visit Netcoins website using your preferred web browser.
  • A valid email address is required, along with a strong password.
  • Enter your Netcoins promo code
  • Please double-check your contact information by checking your inbox and phone.
  • Bitcoin and other cryptocurrencies should now be available for purchase. Although, you can only pay for Simplex using a credit card.
  • Netcoins need further details about you to confirm your identity. You’ll have to provide identification, your photograph taken online, and evidence of residency as a utility bill.
  • Once your identification has been confirmed, you may fund your account in full and begin trading cryptocurrency.

Meet the Terms and Conditions

As mentioned earlier, a few conditions are attached to the bonus you receive with the Netcoins promo code. First, you must have registered and verified your account. Afterward, you must trade at least $100 worth of crypto on the platform to receive your bonus.

How to generate a Netcoins referral code

You can only get your referral link when you’ve learned how to use a Netcoins referral code. Of course, at this point, you should have opened your account and be ready to refer new people as well. Follow the process below to go about getting your own unique Netcoins referral link:

  • If you’re already logged in, navigate to your account’s Refer a Friend section.
  • There will be a unique link for you to share once you reach the Referral Program Page.
  • Put that link on everything you own!
  • Keep in mind that you will be subjected to an identity verification process once you click this link. This condition covers you and anybody who opens an account with your referral link.
  • You and the person you refer will each receive a $60 credit to your account whenever they use your referral code. However, they should be making a purchase totalling CAD 100.

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FAQs about how to use a Netcoins referral code

What is a Netcoins Referral Link?

A referral link in Netcoins is used to claim special bonuses for registering through referrals. When you sign up using a person’s link, the system recognizes that you have come through a registered member. Hence, you’re eligible for bonuses.

What is the Difference Between a Netcoins Promo Code and a Netcoins Referral Link?

A referral link works with you simply clicking through to the signup page using a unique URL of an affiliate. On the other hand, a referral code is a set of digits and numbers. You will have to insert these codes in the space provided when signing up to claim bonuses.

Can I use Netcoins in Canada?

Yes, you can use Netcoins in Canada. As a matter of fact, the company was founded in Canada and operated mainly within the province. It plans on expanding to places outside Canada.

What Do I Do When I Don’t Get the Referral Bonus?

Firstly, you have to ensure your accounts meet all the criteria to be eligible for such bonuses. If you are and still experience this issue, you should reach out to the platform’s customer care for clarifications.

Is it Safe to Use Netcoins?

Yes, it is totally safe to use the Netcoins platform for transactions. You can trust Netcoins as the first Canadian cryptocurrency exchange to go public. It complies with all applicable laws and regulations.

What Coins Does the Netcoins Platform Support?

Netcoins support several crypto tokens like Bitcoin, Ether, Litecoin, Bitcoin Cash, Ripple, USD Coin, Stellar, Algo, EOS, Avalanche, and Ethereum Classic. These crypto tokens listed are among the top you can find in the market, making Netcoins more useful to traders.

What are Some Alternatives to Netcoins?

There are several alternatives to Netcoins, such as Coinsmart and Wealthsimple Crypto platforms. Canadians should use Coinsmart, which offers a signup incentive of $1,000, in addition to supporting several widely used cryptocurrencies. Also, on the Wealthsimple platform, more than fifty different cryptocurrencies are available on the Wealthsimple Crypto platform.

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April 30, 2023
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