Newton pros and cons
- Supports 70+ cryptos
- Friendly, approachable UI
- Compliant with Canadian regulations
- Daily off-site backups
- Bid/ask spread 0.67% – 1.74%
- Lack of advanced trading options
- Currently only available in Canada
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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.
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.
Newton supports over 66 cryptocurrencies, but some notable assets are missing. Namely, Binance USD, BNB and LEO Token, which are in the top 20 cryptos by market cap. In total, 12 of the top 20 cryptos are available on Newton.Popular assets on Newton
Newton refers to itself as a low-cost cryptocurrency trading platform.
It promotes the fact that it doesn’t charge a fee for fiat or crypto deposits and withdrawals, and it even covers up to CAD$5 worth of blockchain fees for crypto withdrawals.Deposit methods
|Withdraw funds||$0 (except on surge usage for cryptocurrencies)
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.
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 specializes 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.
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.
|Google Play ratings||4,000 reviews, 4.6 stars, 100,000+ downloads|
|Apple Store ratings||15,200 ratings, 4.6 stars|
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