Newton crypto review
- Fiat currencies
- 1
- Supported assets
- 67
Our verdict
Buy and sell cryptocurrency with Newton crypto, a Canadian exchange with zero commissions on trades.
Newton is a Canadian crypto exchange that bills itself as a “no-fee cryptocurrency exchange.”
While you will pay a spread fee of up to 1% when you make trades on Newtown, the exchange doesn’t charge fees for when you deposit and withdraw fiat currencies. And it even covers up to CAD$5 worth of blockchain fees when you withdraw your crypto from it.
Though the platform lacks advanced trading features, it still serves as a secure exchange that enables you to gain exposure to over 60 crypto assets.
Pros
- Complies with the Financial Transactions and Reports Analysis Centre regulations in Canada. FINTRAC is the peak body for regulating cryptocurrency exchanges in Canada which requires Newton to comply with laws and regulations that are intended to provide certain protections for users.
- Trade with multiple fiat currencies. Newton allows you to trade with CAD.
- Deposit and withdraw CAD directly to your bank account in Canada. With Newton you can deposit cash from your Canadian bank account and cash out back into the same account.
- Supports a range of payment methods. Newton supports several popular payment methods including CAD deposits via Bank transfer (ACH) and Bank transfer.
Cons
- High fees. Bid/ask spread 0.67% – 1.74%
- Lack of advanced trading options.
Details
Product details
| Product Name | Newton Cryptocurrency Exchange |
| Fiat Currencies | CAD |
| Cryptocurrencies | BTC, ETH, LTC, DOGE, BCH, DAI, EOS, AAVE, ADA, GRT & 50+ more |
| Deposit Methods |
Bank transfer (ACH) Bank transfer Cryptocurrency Wire transfer |
| Trading Fee | $0 |
| Deposit Fees | $0 |
| Withdrawal Fees | $0 (except on surge usage for cryptocurrencies) |
Ratings methodology - how we scored Newton
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
About Newton — company background
Newton is a Canadian cryptocurrency exchange based in Toronto that offers a wide range of coins with a near-zero commission on trades.
While it is one of the younger exchanges (founded in 2018), it has already grown to encompass over 100,000 users as of February 2021 and shows strong signs of continued growth in the Canadian market.
Listed Newton crypto exchange assets
Newton supports over 67 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and XRP, which are in the top 20 cryptos by market cap. In total, 9 of the top 20 cryptos are available on Newton.
Popular assets on NewtonNewton fees
Newton charges a fee for $0 deposits.
Newton deposit methods
- Bank transfer (ACH)
- Bank transfer
- Cryptocurrency
- Wire transfer
How to sign up on Newton exchange
Before you can even get started trading on Newton, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Newton's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Newton account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Newton.
Using the Newton app
The Newton app is available via both the Google Play and Apple App stores.The app has all of the features of the web browser version of the exchange.
Is Newton safe?
Newton has a high trust rating. This is due to its regulatory compliance, storage of user assets and customer data practices.
Past hacks. Since launching in 2018, Newton has not been successfully hacked.
Regulation. Newton is regulated by FINTRAC (Financial Transactions and Reports Analysis of Canada) and is compliant with the agency’s operating rules.
Cold storage. Newton backs up its data offsite daily. It’s also partnered with Balance, a third-party digital asset management company that specialises in institutional-grade storage to help it manage the crypto it holds in cold storage.
Customer data. Newton is fully compliant with the Personal Information Protection and Electronic Documents Act (PIPEDA) and all customer data is stored within Canada. The KYC verification process is run through the third-party Canadian security management company PLAID.
Keeping your crypto secure
All centralised exchanges, including Newton, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
Newton customer support
Newton has several different customer support programs in place.
If you are having any issues, the first place you should check is the Newton Status Page. It will post any current issues or errors that Newton is in the process of remedying.
If the Newton status page does not address the issue you are experiencing, then there is a live chat option in the bottom right corner of the home screen. This is run by an automated bot which typically responds to inquiries with common fixes for issues.
If an issue is not solved by any of these frequent issues it will prompt you to submit a ticket to the customer success team. You can expect to receive a response to a help ticket within 24 hours.
How to reach Newton customer support
- Contact form
- Discord
- Live chat
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