Newton Exchange Review

Newton Exchange Review

Robert McDougall 

February 7, 2022

Cryptocurrency

What is Newton?

Newton is a Canada-based cryptocurrency exchange that particularly aims at making it easier for Canadians to buy and sell cryptocurrencies. Available only for Canadian residents as of now, the platform has acquired the necessary licenses and registrations to provide a safe and regulated environment to their users. 

Newton was founded in 2018, and it is currently headquartered in Ontario, Toronto. One of the mottos that the exchange actually follows is to provide low-cost services to their users. That might also be the reason why they claim to be one of Canada’s lowest-cost crypto exchanges to date. Besides that, the platform also focuses a lot on the safety of their customers’ funds. They store all of their assets in secured locations with no internet access to reduce the risk of hacking or breaching. 

  • Web Address: www.newton.co
  • Main location: Toronto, Canada
  • Cryptocurrencies: BTC, ETH, DOGE, ADA, DOT, and 50 more
  • Fiat Currencies: CAD
  • Deposit Methods:  Interac e-Transfer, Wire transfer, Pre-authorized bank transfer, Cryptocurrency
  • Deposit Fees: Free
  • Trading Fees: Included in spread
  • Mobile app: Yes

My Overall Thoughts on Newton

I would consider Newton a developing crypto exchange that is still adding more and more features and options for their users. They have not only increased the number of crypto assets available on the platform, but they have also added additional security features, made trading easier, and reduced the trading fee to almost zero. If you ask me why Newton is an excellent pick for any trader or investor to continue their financial activities, the following are the 3 things that I like most about the platform:

1) Easy, efficient and trouble-free:  No one wants to waste time trying to understand complicated features, trying to see how they work, or spend hours just to get the hang of a platform. That is why Newton is a great choice for anyone due to their beginner-friendly user interface and easy options that anyone can understand. You can trade, buy, sell, deposit, or withdraw just with a few clicks, and you won’t have to follow lengthy procedures.

2) Premium security and compliance:  Newton is a registered crypto platform in Canada, following proper compliance with authorities. Newton also stores their users' funds in no-internet zones to ensure no unauthorized access. This gives their customers peace of mind that their assets are safe on the platform. 

3) No-fee brokerage:  Users don’t have to pay any fiat withdrawal or deposit fees to get started. Even the trading fee is incorporated in the spread, so there are no additional commission taken by the platform. 

Some people think that the range of cryptocurrencies on offer (50+) is not sufficient, when they compare Newton to global exchanges such as Binance and KuCoin. However, for a Canadian crypto exchange, there is quite a lot of variety. Compared to other Canadian exchanges, Newton has a larger variety of coins.

Key Features & Advantages of Newton

While Newton currently focuses on Canadians only, they still have a lot of features and options on offer. These can be quite beneficial for many traders and investors who are looking for a considerable amount of coins to start their journey. 

You can take a look below to find out what Newton offers and if the options and features they offer are useful for you or not. However, if you are not from Canada, you will not be able to access the platform.

Negatives & Disadvantages of Newton

Along with all the advantages and benefits you have seen above, Newton also comes with a few disadvantages and negatives that you should keep in mind. You can go through them and evaluate if they would have any significant effect on your trading and investing experience.

What Services does Newton offer?

To make things a little more convenient for you to understand, I have expanded on almost every feature and option that Newton offers to its users. You can thoroughly read all the aspects and find out if the platform is the right exchange for you to go with.

Over 50+ coins available to buy, sell and trade:  Comparated to other Canadian-based cryptocurrency exchanges, Newton has a great range of coins to offer to their users. Not only do they offer the most popular cryptocurrencies, but they have also included some new projects that their investors and traders can explore. Specifically, you will get a range of over 50 coins that you can check out. Some of the famous cryptocurrencies you would find on the platform are Bitcoin, Ethereum, Litecoin, Cardano, Solana, and Elon Musk’s favorite Dogecoin. Newton also adds new coins when possible to satisfy the desires of their users. When the platform first launched, it only had about 20 assets listed on it. As of the time of writing, the number of coins is close to 60. 

Easy and quick buying and selling of assets:  Newton has definitely made it a lot easier for Canadians to buy and sell cryptocurrencies quickly within a matter of minutes. You do not require any type of knowledge or expertise to buy crypto from Newton. The whole process is quick, smooth, and simple. You just have to decide which cryptocurrency you want to invest your money in.

You can also easily sell your crypto at Newton or swap your current coins with other ones as per your preferences. Again, the process will be quick and easy without any hassles. 

Beginner-friendly platform with fast UI:  If you don't really want to make a mess of your mind checking out hundreds of features and options just to buy some cryptocurrencies, then you should check out Newton. Newton has one of the simplest and most beginner-friendly user interfaces you can find on any crypto exchange. With no complicated terms or excessive requirements, users can join Newton and carry on with their financial activities.

As soon as you visit the platform, you will get the option to log in to your account or create a new one. You also get access to a simple dashboard with all of the options available right there. That is where you can purchase or sell the assets you desire, evaluate your portfolio, trade, check your referrals, and do much more from a single place.

Mobile apps available for iOS and Android users:  It is not really possible to stay connected to your portfolio all the time if the platform you have chosen does not offer a mobile app. Keeping that in mind, Newton offers their users the option to download their dedicated mobile app for Android and iOS devices. You can simply head to the respective store of your mobile device and search for Newton to download and install it. The mobile apps are also designed in a way that they are quite easy to become familiar with. You can access your assets, portfolio, and dashboard to do whatever you want right from your mobile phone. 

Hassle-free sign-up process:  Newton's sign-up process is hassle-free, and users can even set up their funds account within mere seconds. Of course, when creating an account, you will have to verify your email address and phone number to ensure that it is you creating the account. You may have to show your official documents later on to prove your identity.

No-fee crypto brokerage motto:  Newton is famous for their no-fee crypto brokerage motto that they have been using since the start. There is no fiat deposit fee, no fiat withdrawal fee, and no trading fee at Newton. Even when it comes to network fees imposed by the blockchain when withdrawing crypto funds, Newton pays up to $5 CAD on your behalf to make it even more affordable for you to proceed.

If you are wondering how Newton can operate without charging any type of fee, it is because they include their fees in the spread, where the prices of assets are a little different to the actual market. When you buy or sell a cryptocurrency, Newton will make a small profit depending on the spread difference. 

Efficient trading of cryptocurrencies:  Aside from all the features available at Newton, users can also trade several cryptocurrencies and various pairs on the platform. Newton offers high liquidity and competitive spreads to make it even easier for them to make profits and be competitive in the industry. Aside from that, users can also access charts of different assets just as they want. They are also able to tweak and customize the charts a little to better evaluate and determine the possibilities of the market. 

If you are just starting your trading journey, Newton can be a great place to take the first step due to ease of access and a beginner-friendly platform. 

High liquidity:  High liquidity simply refers to how easily cryptocurrency can be traded or swapped. If a platform has very low liquidity, their users might face problems while swapping their tokens or coins due to the fluctuation in prices. Platforms with high liquidity, such as Newton, makes coin swapping and trading quicker, and easier due to minor or negligible fluctuations in the prices. 

Safe and secure platform:  It can be quite hard to trust a service or a platform in the digital era, where scams are quite common. But Newton has gained the trust of their users through their certifications, registrations, and compliance. Not only that, but the platform is also secured from external threats which may compromise the funds of the users. Newton stores all the funds of their users in a secured location, with no internet access to provide full security. 

They also perform daily off-site backups and direct bank integration to minimize the risk even more. As for users who want to join Newton, they also have to prove their identity and go through all the security phases to start investing and trading.

Referral program available for extra earnings:  With the referral program offered by Newton, users can now earn extra money by referring the exchange to their friends and family members. If they decide to join the platform and buy and sell assets worth $100 CAD, you and your referral both will get $25 CAD. Also, you can refer the exchange to as many people as you want, and there are no limitations on earnings through this.

Excellent customer support team:  Offering great customer service should be the first priority for any crypto exchange due to the complexities involved. This is why Newton does not take it lightly and offers an excellent support team to help customers out when needed. Users can simply get in touch with them through the help icon available on the lower right corner of the platform. Or else, they can simply write an email or open a ticket to get their problem solved as soon as possible.

What I don't like about Newton

If you are pleased by the benefits and advantages that Newton offers to their customers, you may want to analyze the negatives too, which are described below.

Somewhat limited range of cryptocurrencies available:  There is no denying that Newton has quite a good variety of cryptocurrencies available for their users compared to other Canadian exchanges. However, the number of assets is still a lot lower when compared to international crypto platforms and the demands of professional traders and investors. There are platforms offering more than 300 cryptocurrencies at a single platform, and Newton is not even at 60 as of the time of writing.

We can only hope for the best and see if Newton increases the number of cryptocurrencies available in the future. The process might be slow, but we will surely see gradual growth in the number of assets available to buy, sell, and trade.

Only available for Canadians:  Newton is currently only available for Canadians. They have not stated any plans of expanding their platform or making it available to different regions. If you are from any country other than Canada, you will have to keep searching to find a suitable crypto exchange. If you are from the USA, this is a comprehensive list of the best crypto exchanges that you may find helpful.

Newton Fees

Newton Deposit Fees

Newton does not charge users for depositing money on their platform through any of the methods available.

Newton does not take responsibility for any fees charged by a third party, such as your bank. You can determine the cost of transfers yourself by contacting the support team of the respective payment method beforehand.

Newton Trading Fee

Traders on Newton don’t have to worry about taker and maker fees. The price you see when you buy or sell a coin is what you will get. The fees are all included in the spread.

Newton Fiat Withdrawal Fees

Fortunately, users do not have to pay a withdrawal fee when taking their fiat funds out of Newton. It does not matter if you choose wire transfer or e-transfer; you will be able to withdraw your funds without paying a cent.

Newton Crypto Withdrawal Fees

The same scenario of not paying any fee applies to crypto withdrawals too. Users only need to pay the network or blockchain fee, but even then, Newton even pays $5 CAD of that network fee! You only have to pay the amount exceeding $5, and if the network fee is less than $5, it will be free.

Pros and Cons of Newton

Pros
  • Easily trade, buy and sell crypto
  • Over 50+ cryptocurrencies available
  • No deposit or withdrawal fees, and trading fees are included in spread
  • Excellent security
  • Mobile app for Android and iOS users
Cons
  • Only available in Canada
  • Somewhat limited range of cryptocurrencies

Verdict

If you are a Canadian resident, you can definitely opt for Newton without a second thought. You will have access to some of the most popular cryptocurrencies with several depositing and withdrawing options. Not only that, with Newton's no-fee motto, you will benefit your pocket and enjoy trading with no commissions. If you are a beginner, you will love the platform even more due to the simple design and easy-to-use UI. You can trust Newton's security features, and know that your funds will be safe with them.

If you are still considering other options, you can take a look at the best crypto exchanges in Canada. I have also included a comparison table below.

Comparison Table of the Best Crypto Exchanges in Canada

Bitbuy
MEXC
Binance
VirgoCX
Coinberry
NDAX
Crypto Exchange
Crypto Exchange
Bitbuy
MEXC
Binance
VirgoCX
Coinberry
NDAX
Fiat Currencies
Fiat Currencies
CAD
CAD, USD, TWD, AED, PHP, AUD, JPY, EUR & more
CAD, USD, GBP, EUR, AUD, HKD, JPY & 35 more
CAD, USD
CAD
CAD, USD
Cryptocurrencies
Cryptocurrencies
BTC, BCH, ETH, LTC, XLM, EOS, AAVE, LINK, DOGE, DOT, ADA, UNI, SUSHI, MATIC, SOL
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, XRP, LTC, BCH, EOS, XMR, TRX, XLM, NEO & 600+ more
BTC, ETH, LTC, EOS, DOT, ADA & 17 more
BTC, ETH, BCH, LTC, XLM, ADA, DOGE, DOT & 10 more
BTC, ETH, LTC, XRP, EOS, DOGE, ADA & 20+ more
Deposit Methods
Deposit Methods
Interac e-Transfer, Wire transfer, Cryptocurrency
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Cryptocurrency
Interac e-Transfer, Wire transfer, Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Bank Draft, Cryptocurrency
Trading Fees
Trading Fees
Express Trade: 1.5%, Pro Trade: 1.5%
0.2% for spot, 0.02%/0.06% for futures
0.1%
0%
Included in spread
0.2%

Frequently Asked Questions

Is Newton available in the US?

Unfortunately, Newton is only available in Canada. The platform is yet to make any type of announcements of their future plans if they have any.

Can you trust Newton with your funds?

Newton is a safe and secure Canadian crypto exchange. They are compliant, registered, and authorized to offer their services in Canada. So yes, you can trust Newton with your fiat and crypto funds.

What currencies does Newton support?

Newton supports almost all of the popular cryptocurrencies, with over 50+ supported. As for fiat currencies, you can only deposit or withdraw CAD on Newton.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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