I am writing this Newton review after using the exchange for over a year. I have read the good and bad reviews on Reddit and social media, this has been my experience buying and selling crypto on Newton.
This review will break down what you should know before signing up for Newton.
Affiliate Disclaimer – We earn from qualifying purchases.
- Low spread fee on trades.
- Easy to use and nice design.
- Lots of altcoins to trade and more are always being added.
- Verifying an account when signing up can take time.
- Can have difficulty at peak times.
- customer service can be overwhelmed and take time to respond or you need to post on the Newton subreddit to get help.
Founded in 2018. Newton has about 40 employees and has served over 200,000 Canadians.
I believe this makes them the second-largest Canadian crypto exchange after Shakepay.
Newton is a registered money services business with FINTRAC in Canada (FINTRAC#: M19607029) and FinCEN in the United States.
Deposits and withdrawals: $0
Crypto withdraw fees: For cryptocurrency withdrawals, the first $5 of the withdrawal fee is covered, the rest of the withdrawal fee will be a cost incurred by the customer time of transaction.
The variable amount will depend on the transaction and the blockchain fees at the time of the transaction.
I have yet to incur a network fee when sending crypto above the $5 network fee. that Newton covers. This probably would not be the case if I was buying or selling at peak times in the market.
Newton has some of the lowest fees in Canada for exchanging cryptocurrency and sending it to your wallet.
Funding & Withdrawal Options
Interac E-Transfer, Wire Transfer, Bank Transfer or connect your bank account with Plaid.
Choose from over 50 coins to buy, sell and trade on Newton. You can only trade $ CAD for crypto. Newton does not offer any crypto to crypto trading pairs.
Desktop / Apps
Newton dashboard view.
Trading view on desktop website.
Newton app store reviews – iOS & Android.
Newton has a partnership with Balance, a professional third-party custodian that specializes in safeguarding your digital assets. Through Balance, Newton provides institutional-grade storage, with security from theft, fraud, and mishaps.
Newton uses Authy for 2FA.
Market orders and limit orders.
Newton does not have a recurring buying option.
Get $25 sign up bonus when you make a trade over $100.
Newton referral link to get bonus: https://web.newton.co/r/YASRDJ
These cryptocurrency exchanges are good alternatives to try:
· Newton vs NDAX
· Newton vs Wealthsimple
· Newton vs Shakepay
· Newton vs Netcoins
· Newton vs Bitbuy
· Newton vs Kraken
· Newton vs PayTrie
· Newton vs Binance
· Newton vs CoinSmart
· Newton vs Coinbase
· Newton vs Crypto.com
Newton Review Conclusion
Newton gets mixed reviews online.Newton is a fast-growing startup that might have occasional growing pains. Read Newton vs Shakepay. They are hiring and improving the exchange on a regular basis.
After struggling through the initial verification process I have generally had a good experience buying and selling crypto on the exchange.
My questions to customer service were answered within 24 hours and they did fix any issues I had.I like using the desktop website to trade crypto or send it to my wallet.
I use Newton for the majority of buying and selling of crypto because of the low fees. I set up and use other exchanges as well because I don’t feel confident in Newton being online at peak times and it’s good to have a backup plan.
Don’t leave money on the exchange, you should always send your crypto to a wallet you control the backup keys for.
Bottom line: Newton is a safe and legit crypto exchange for Canadians. It has some of the lowest fees on trades and is super easy to use.
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