Newton Crypto Canada Review (2022): Buy Bitcoin and Ether

Finding the right cryptocurrency exchange to match your experience level can be challenging.

Some platforms are complex and convoluted, offering advanced trading tools while using financial jargon. Others are simple to use but only provide basic features and functionality.

Newton cryptocurrency exchange in Canada sets itself apart in this regard. Users receive excellent products and services, plus the features that make crypto trading simple and seamless.

The Newton platform shows off with its keen attention to detail and easy-to-navigate interface, making it a great platform for any crypto trader or investor.

Is Newton right for you? Keep reading this Newton crypto Canada review to find out.

Our Verdict
Newton Crypto Canada Review
7.5/10Our Score

Newton Crypto

Cryptocurrency Exchange

Accessible, easy-to-use crypto platform great for beginner traders and investors.

Pros
  • Great for beginning crypto traders and investors
  • Low spreads with high liquidity
  • Supports more than 70 cryptocurrencies
  • Works with PLAID
  • Secure and reliable
  • Regular platform upgrade
Cons
  • No advanced crypto trading tools
  • Spreads aren’t as good as other platforms
  • No live support available

Newton Cryptocurrency Exchange

Right out of the gate, you should know that the Newton crypto exchange is named after Sir Isaac Newton. Newton is based in Toronto and used primarily by Canadian traders and investors.

The platform launched in 2018 and currently supports over 70 digital assets, which ranks among the largest selections among Canadian exchanges.

This reliable, trustworthy exchange is making a name for itself in the industry by offering zero trading fees for its users, instant account confirmation, and an easy-to-use interface.

These features and more make Newton an excellent option for buying and selling crypto.

Features

When you use Newton, you’ll have access to a variety of features. These options make it easy for new crypto traders and investors to buy, sell, and trade digital assets without getting overwhelmed.

No trading fees

Zero Monthly Fees

Users pay no transaction fees while using Newton, which makes it appealing to those new to crypto.

Newton sets itself apart in this regard, as most crypto exchanges have trading fees since this is how they make their money.

While exchanges don’t charge much to trade, if you buy and sell often, you’ll wind up paying quite a bit in fees over time.

Newton users also have the benefit of not paying fees when depositing or withdrawing funds. Of course, this begs the question, how does Newton make any money?

The answer is through its spreads, which typically fall in the 0.60% to 1.00% range. However, since there are no transaction fees, this is the only time you pay to use the Newton exchange.

Fast account confirmation

Fast account confirmation

Newton’s instant account confirmation is one of the most popular features available on the exchange.

Fast validation gives traders and investors quick access to the platform so they can start buying and selling crypto as soon as possible.

While some exchanges like to take their time in approving users, Newton wants you to have as much time as possible to buy, sell, and trade crypto.

Plus, once you’ve received account confirmation, there are multiple methods through which you can add funds.

You can select between e-Transfer, bank wire transfers, or simply adding crypto to your account via an external wallet.

While you won’t pay Newon transaction fees when moving your funds, each platform may have its own fees you’ll pay, so take those into consideration before moving your money.

Mobile app support

Mobile app support

Nowadays, it’s almost imperative that you have a mobile app if you want to be taken seriously.

Newton wants to make itself available to all its users, no matter where they are, which is why the exchange offers a mobile version of its exchange, available on both Android and iOS.

Newton provides an interactive and easy-to-navigate app that makes it convenient for users to buy, sell, and trade cryptos on the go.

Additionally, you can use some of the advanced features available on Newton, such as its limit orders, through its mobile app.

Third-party storage

Keeping your digital assets is a critical part of holding cryptocurrency. Unfortunately, there are plenty of examples of people who have fallen for scams and frauds, resulting in them losing their funds.

Plus, there is no shortage of scenarios in which hackers access unprotected and unsecured storage, cleaning out a platform before it knows what happened.

That’s why Newton goes out of its way to address these types of concerns. By using third-party custodial partners Fire Blocks and Balance, the platform is ensuring that your crypto is kept safe in a cold-storage wallet.

As a result, it’s nearly impossible for bad actors to get their hands on your funds.

Moreover, Newton’s partners use institutional-grade storage facilities, which use top-of-the-line security features. Cold storage is critical when it comes to crypto, as it makes accessing, stealing, or tampering with digital assets impossible.

Additionally, Newton regularly performs off-site backups, which keeps fraud to a minimum while ensuring your digital assets and protected and secure.

Supported Cryptocurrencies

There’s no point in using a crypto exchange if it doesn’t support the crypto you want to buy, right?

Newton supports more than seventy different cryptocurrencies, which gives you the opportunity to add a variety of projects to your portfolio.

Here’s a list of the more common cryptocurrencies supported by the Newton platform:

  • Bitcoin (BTC)
  • Fantom (FTM)
  • Ethereum (ETH)
  • Tether (USDT)
  • ChainLink (LINK)
  • 1inch (1INCH)
  • Stellar (XLM)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Tezos (XTZ)
  • Solana (SOL)
  • Alogrand (ALGO)
  • Bitcoin Cash (BCH)
  • SushiSwap (SUSHI)
  • Uniswap (UNI)

Obviously, this is not an exhaustive list of the cryptocurrencies Netwon supports. There are plenty of other options available to buy, sell, and trade on the platform.

Keep in mind that Newton is always adding new digital currencies to its list, so regularly check in to get the most up-to-date list.

Newton Security

Newton Security

You don’t need to look hard to find those in the crypto world who believe that security is the most important feature for an exchange to offer.

Security and safety are critical, which is why Newton is one of the best platforms in the market when it comes to protecting user assets.

All customer data on the Newton platform is stored in Canada and is compliant with PIPEDA (Personal Information Protection and Electronic Documentation Act). Plus, Newton gives its users access to cold facilities that allow for storing cryptocurrency offline.

The platform also works closely with PLAID, a Canadian security management firm well-known for providing top-tier protection. By using PLAID, all user accounts and their KYC (Know-Your-Customer) information are protected.

Newton also gives its users a way to integrate directly with their personal banks, which is another step the platform takes to keep data protected.

However, one of the most important security measures Newton takes is compliance with FINTRAC (Financial Transactions and Report Analysis Center of Canada). And as mentioned previously, Newton regularly performs daily off-site backups of all exchange data.

Customer Support

Customer Support

Buying, selling, and trading crypto can be complicated. As a result, there are often times when users might need help figuring things out. That’s why Newton crypto exchange goes out of its way to support users when they request it.

There are several ways through which you can reach out to the Newton customer support team. Users can use the platform’s social media channels to speak with someone or send an email through the exchange.

In addition to reaching out through those channels, users also have access to a myriad of tutorials, FAQs, and articles that can provide information or walkthroughs to guide users through any difficulties they’re experiencing.

Users can also create support tickets on their mobile devices if they need to speak directly with a customer support executive.

Alternatives

Despite the appeal of no transaction fees, some people may not feel that Newton is the right exchange. If that’s you, here are a few other Canadian exchanges you might consider:

CoinSmart

CoinSmart

Many investors and traders want platforms that offer excellent security. If that’s you, it might be worth looking into CoinSmart, one of the most secure Canadian crypto exchanges.

This OSC (Ontario Securities Commission) registered marketplace goes above and beyond by bringing in outside companies and asking them to perform an audit on its exchange.

CoinSmart supports plenty of cryptocurrencies, so unless you’re looking for an unknown project, chances are good you’ll be able to buy, sell, and trade the digital asset you want on the platform.

Plus, it’s free to create an account with CoinSmart, so you don’t have to worry about needing a lot of money to get started.

Investors and traders on the CoinSmart platform won’t pay a lot in trading fees. While they’re not as low as what Newton has to offer, transaction fees start at 0.2% for each trade.

Plus, CoinSmart gives users the option for instant account verification, which means they can start buying and selling right away.

Support cryptocurrencies

Here are some of the cryptocurrencies you can buy, sell, and trade on the CoinSmart platform:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Polkadot (DOT)
  • Cardano (ADA)
  • Bitcoin Cash (BCH)
  • Stellar (XLM)
  • Polygon (MATIC)
  • Solana (SOL)
  • ChainLink (LINK)

Wealthsimple

Another quality alternative to Newton is Wealthsimple. This well-known Canadian exchange is based out of Toronto and boasts more than one million daily traders.

The platform supports more than fifty different cryptocurrencies and enough features that any trader will feel comfortable using the site.

While the trading fees are higher than what you’ll get through Newton or CoinSmart, they’re competitive. So, if Wealthsimple supports your favourite crypto, you may want to check it out.

Plus, you’ll get 24/7 customer support through Wealthsimple, with access to a live chat representative when you run into difficulties.

There aren’t a lot of exchanges that real-time chat support, so Wealthsimple is setting itself apart in this area.

Another way Wealthsimple makes a name for itself is through its offerings. The platform also has a stock exchange, so you can buy, sell, and trade your favourite stocks, then move over to the crypto side of the site and do the same.

It’s a great feature for anyone serious about trading both stocks and crypto.

Supported cryptocurrencies

Here are a few of the cryptocurrencies supported by Wealthsimple:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Litecoin (LTC)
  • Uniswap (UNI)
  • Polygon (MATIC)
  • Basic Attention Token (BAT)
  • Avalanche (AVAX)
  • Polkadot (DOT)
  • Solana (SOL)

FAQs

Here are a few of the more commonly asked questions about Newton.

How long does it take for deposits to show up in my account?

Most deposits arrive within 10 minutes, however, if you deposit your funds via Interac e-Transfer, it could take up to half an hour for your deposit to arrive.

How long do withdrawals take?

The speed of crypto withdrawals heavily depends on which digital coin you’re withdrawing. For example, it can take Bitcoin up to fifteen minutes to show up in your wallet, while other altcoins might only take a few seconds.

Can users stake their coins on Newton?

Unfortunately, Newton does not offer users the ability to stake their tokens and earn rewards at this time.

Conclusion

newton crypto Canada Review

Newton is a solid Canadian crypto exchange that offers plenty of features to go along with its simple and intuitive interface.

Users do not incur any fees, which is something most crypto exchanges can’t offer.

Plus, the platform is designed to make the crypto trading experience as pain-free as possible. If you’re a Canadian resident, Newton is a crypto exchange you need to look into.

Photo of author
Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

Check Out These Posts:

Leave a Comment