netcoins visa card review

Netcoins pay – Visa Card Review: My Experience (2022 Canada)

*Important: Unlike most reviews, I actually have experience with the Netcoins Visa card.

Chances are, since you’re searching for a review on the Netcoins Visa Card, you are somewhat familiar with Netcoins. Therefore, I won’t get into who they are and the nitty gritty of their company and app.

Let’s just get right into it.

What Other Crypto Cards Do I have Experience With?

I think it’s important to note which other crypto cards I’ve had experience with to help give you a better idea of how I’ve come to my conclusions.

I’ve had various experience with the following crypto cards:

  • Crypto.com Visa card
  • Wealthsimple Visa card

Crypto.com Visa Card

crypto visa card canada

This is my favourite crypto Visa card. Why? I’m super bullish on CRO and Crypto.com as a company and ecosystem. They offer features and rewards that no other cards offer.

One of those features is their Spending Power. This allows you to use your crypto as collateral instead of having to always top up your card with Fiat. Once you’ve made a purchase you then have 7 days to pay off the balance before interest kicks in. This is a major convenience.

Another feature is their unique rewards. In addition to crypto rewards, their 2 lower tier cards (which most people will use) offer free Spotify and Netflix in the form of CRO.

Their lower tiers offer 1% and 2% back in CRO respectively. While their higher tiers offer 3% and 5% back in CRO.

And lastly, their cards are metal, sleek and sexy.

Wealthsimple Visa Card

crypto card canada

My first ever card that offers cash back in crypto is the Wealthsimple Visa. I used it a handful of time before I received my Crypto.com Visa card and then that was it.

Their card is by far the cheapest looking and feeling of the 3.

They offer 1% back in any crypto offered on their platform, which is measly.

One major feature Wealthsimple offers over both Crypto.com and Netcoins is they allow you to choose which crypto you’d like to receive your rewards back in. This is huge and can be a deal-breaker for some.

Netcoins Pay – Visa Card Review: See How It Compares

crypto cards canada

As of writing this review, I’m nearing the end of my 1st month using the Netcoins Visa card.

Bullets

  • This is a pre-paid visa card and no credit check is required
  • Earn 3% Bitcoin1 back for the first 3 months and 1% back after that point
  • Use the Netcoins card anywhere that accepts Visa* cards, Apple Pay, Google Pay or Samsung Pay
  • Choose from a virtual and/or physical card
  • No annual account fees
  • Access your card through your phone, a web browser, or the physical card
  • Lock your card(s) anytime through the Netcoins app
  • View and download all your monthly statements
  • Keep your Bitcoin rewards in Netcoins or transfer them out into an external wallet
Netcoins Pay – Visa Card: Quick Review
Packaging
5
Card Quality
7
Rewards
6
Fees
10
Transaction Limits
10
Speed Of Topping Up
8

Packaging

netcoins card review 2 1

It arrived stuck to a thick and sturdy, single page brochure-like card much bigger than the Visa card itself. The packaging is definitely not as flashy as Wealthsimple or Crypto.com.

Card Quality

netcoins visa review 1

The card itself is thicker and of higher quality than Wealthsimple’s Visa card, but no where near as flashy as the Crypto.com Visa card.

Rewards

I plan to use this card for only 3 months after activation. Why?

For the 1st 3 months Netcoins offers 3% back in Bitcoin for all purchases. This is considered a promotional period. After that the rewards go to 1%, which is where it’ll stay.

One major drawback for me is the rewards back are offered in Bitcoin only. This may be OK for some people, but I have my eye set on many other crypto projects that I think have the potential to grow exponentially more than Bitcoin.

This is one feature I like about Wealthimple’s Visa card; they allow you to choose which crypto you’d like your rewards back in.

If being able to chose which crypto you earn rewards in is important to you, then this feature may be a deciding factor in which card you choose.

I may be getting picky at this point, but with Netcoins rewards are paid out only once a month on the 11th of each month. Whereas Wealthsimple and Crypto.com pay out rewards instantly.

TRansaction Limits

Maximum number of Point of Sale (“POS”) transactions per day15
Maximum amount per single POS transaction$8,000
Maximum daily cumulative amount, POS$8,000
Maximum monthly cumulative amount, POS$30,000
Maximum number of ATM transactions per day5
Maximum amount per single ATM transaction$2,000
Maximum daily cumulative amount, ATM$2,000
Maximum monthly cumulative amount, ATM$10,000
Total daily limit (POS + ATM)$10,000

Topping Up Funds

Topping up the Netcoins Visa card takes less time than Crypto.com but more time than Wealthsimple.

With Netcoins Pay, I’ve received my e-transfer in as little as 5min and as long as 1 hour. On average it takes closer to 5-15min than not.

How do you top up your Netcoins Visa card?

1. On the mobile app click Access Netcoins Pay

netcoins pay 2

2. Enter your 2FA from your authentication app

netcoins visa card

3. Click on the top up button

netcoins review

4. Checkmark the terms and press next

netcoins card review

5. Copy the code given, checkmark the terms and press reveal email

netcoins card

6. Send your email transfer to the email shown in the app. Don’t forget to paste the code in the previous step into the message field of your email transfer to prevent delays.

netcoins card review 1

You should see your funds in 5-60 minutes.

Once the funds show in your account your Netcoins card is ready to use!

crypto visa credit card canada

Compare Every Crypto Credit Card Available In Canada (2022)

With the adoption of Crypto increasing exponentially, more and more financial institutions and crypto exchanges are offering ways to pay using your crypto or fiat while earning crypto rewards.

I use the Crypto.com pre-paid visa and love it. It’s an easy way to automatically invest my cashback rewards into crypto and let it grow, completely hands off.

I’ve also used the Wealthsimple pre-paid visa, I’ll explain why I chose Crypto.com over Wealthsimple in my review of the Crypto.com card below.

Which crypto cards aren’t available in canada?

Unfortunately, there aren’t many options when it comes to choosing a crypto card in Canada and some of the most appealing crypto cards aren’t available.

Popular crypto cards that aren’t available in Canada include:

*Binance exchange is available in Canada, but not Ontario. However, their card is not offered in Canada.

CompanyCashback
*Binance0.1 – 8%
CoinbaseUp to 4%
Voyager1-3%
Nexo2%
Blockfi3.5% 1st 3 months
1.5% thereafter

Will any of these cards ever be available in Canada?

Based on my research, here’s what I’ve learned:

Nexo: Plan to offer their card in Canada but no estimated date has been set.

Voyager: Estimate to offer their card in Canada by Sept-Nov 2022.

Blockfi: Plan to offer their card in Canada but no estimated date has been set.

Binance: Plan to offer their card in Canada but no estimated date has been set.

Coinbase: Couldn’t find much info.

Which Crypto Cards are available in canada?

Based on my research, here’s the crypto cards available in Canada:

CompanyCashback
Crypto.com1 – 8% in CRO
Wealthsimple1% in crypto, stock, or cash
Netcoins1% in Bitcoin
Shakepay1% in Bitcoin

Why Use A Crypto Credit Card?

Rewards

Most crypto cards offer generous cashback rewards in the form of crypto. This allows you to invest into your future automatically.

Some companies offer other enticing rewards beyond cashback.

Earn higher interest rates

You can earn much higher interest rates by converting your money from fiat into crypto. For example, you could earn anywhere from 1.5% – 10% APY on USDC stable coin instead of a measly 0.05% in your bank savings account.

Avoid the banks

With recent events around the world—i.e. freezing bank accounts and the threat of a collapsing currency—many people, myself included, have lost trust in the current financial system.

Therefore, people like us are holding our assets in the form of crypto and stable coins.

What are the best crypto credit cards in Canada?


crypto.com crypto visa credit card
crypto visa card canada
Summary
Crypto.com is trusted by over 40 million users. Despite the unfavorable changes being made to the rewards, this pre-paid Visa card remains at the top of my list for Canadians. Outside of Canada, there are better options IMO.
Cashback
8
Additional Rewards
9
Fees
9
Card Quality
10
Ease of Use
7
pros
Up to 8% cashback
Free Spotify and Netflix
Option to use crypto as collateral and make payments
Beautiful stainless steel card
Pre-paid Visa, no credit checks
cons
Must invest into CRO coin for enhanced rewards
Cashback in CRO only
0.5% currency exchange fees
8.6
Check out crypto.com

Card Tiers

crypto card canada
crypto.com visa credit card rewards
crypto.com visa credit card fees

Why did i choose the Crypto.com Card over the others?

I think since you have to invest into the CRO coin to reap higher rewards, you must believe in Crypto.com as a company and the future of their native coin—CRO, which I do.

I believe they have a very bright future and will overtake Binance as the top crypto exchange in the future.

Their marketing is phenomenal and project to have 100 million users by the end of 2022.

They are the official sponsor of the FIFA World Cup in November and this will undoubtedly expose them to millions, if not billions, of potential new users.

Their partnership with Shopify to accept payments in crypto is a gamechanger as well.


wealthsimple
crypto card canada 1
Summary
Wealthsimple is trusted by over 1.5 million Canadians. While their card only offers 1% cashback, you have the ability to choose which crypto you want to earn back. With this card, you trade lower rewards for flexibility and ease of use.
Cashback
6
Additional Rewards
0
Fees
10
Card Quality
6
Ease of Use
10
pros
Cashback as crypto of choice, stock of choice, or cash.
ACH bank transfers to fund card
Pre-paid Visa, no credit checks
1% cashback
cons
Can’t use crypto as collateral or to pay off card
Card isn’t the best quality
6.4
Check out wealthsimple

netcoins
crypto cards canada 1
Summary
Netcoins is powered by KOHO, a banking app trusted by over 40,000 Canadians. Your crypto can be trusted in their hands. Earn 1% cashback in Bitcoin with the Netcoins crypto card.
Cashback
7
Additional Rewards
0
Fees
6
Card Quality
8
Ease of Use
8
pros
3% cashback for 1st 3 months, 1% cashback theereafter
E-transfers take seconds
Pre-paid Visa, no credit checks
cons
Cashback in Bitcoin only
1.5% foreign exchange fee
$1 per month inactivity charge starting month 13 of non-use
5.8
Check out netcoins

shakepay crypto visa credit card
crypto visa cards canada
Summary
Shakepay is trusted by over 1 million Canadians. They only offer a virtual Visa card that offers 1% cash back as Bitcoin.
Cashback
6
Additional Rewards
0
Fees
10
Card Quality
0
Ease of Use
10
pros
Cashback as crypto of choice, stock of choice, or cash.
ACH bank transfers to fund card
Pre-paid Visa, no credit checks
cons
Can’t use crypto as collateral or to pay off card
Virtual card only
1% cashback
5.2
Check out shakepay

Want more Info On some of these companies?

If you’ve never heard of some of these companies chances are you’re looking for more info on them.

I wrote a review comparing cryptocurrency exchanges for Ontarians and Canadians that offers much more detail into each of the companies above.

You can check that out HERE.