Netcoins understands the importance of transparency in our platform, and has put together a Proof of Reserves for its Canadian operation.
Any cryptocurrency that is held in a users Netcoins account is held in custody in a hot or cold storage wallet, which can be converted into Canadian dollars (CAD) at any time.
All custodied cryptocurrency assets are backed 1:1 at all times and at least 80% are held in an insured cold storage vault. All cold storage cryptocurrency assets are held with BitGo, our qualified and insured custodian.
Netcoins 2022 Q3 Proof of Reserves Report
Our proof of reserves and platform due diligence report was completed by the Blockchain Intelligence Group (BIG).