Coinberry vs Newton: Security, Features & Fees
Newton takes pride in being the first fee-free digital asset exchange in Canada, and Coinberry is Canada’s first crypto-only regulated platform. The two platforms also support fiat deposits – using the Canadian Dollar (CAD) – as a payment method.
After detailed research, this Coinberry vs Newton review compares both crypto exchanges to help Canadian investors choose the right crypto trading platform.
Coinberry vs. Newton: Verdict
Our pick in this comparison is Newton due to the platform’s broad range of features and lists the most popular coins for Canadian traders and investors
Coinberry vs Newton: Unique Features
Coinberry offers users access to instantly purchase Bitcoin, Ethereum, Bitcoin Cash and other digital assets in Canada. However, there’s no advanced feature available. Users are limited to only market orders and limit orders on the platform.
Newton on the other hand has limitations in terms of pro trading. However, users are provided with the spot trading feature.
Both exchanges have limitations in terms of crypto trading. They are mainly designed for beginners and offer little to no advanced trading features.
Coinberry’s trading platform is simple and easy to use. The intuitive desktop trading platforms allow traders to buy crypto on the go with just a few clicks. The platform also offers limit orders to investors who want to further manage their cryptocurrency holdings during trades.
Newton offers a basic trading platform allowing users to instantly initiate buy and sell orders by using the “Make a Trade” function on the platform. Like Coinberry, Newton lacks pro trading features, but the platform comes with market and limit orders.
The Coinberry and Newton platforms are ideal for Canadian newbie investors who are looking for a straightforward, decongested platform to trade crypto. Their desktop platforms and mobile apps are also easy to navigate.
As stated earlier, Newton and Coinberry offer only basic trading services to their clients. Both platforms are on the same level, with little to no pro trading features.
Neither Coinberry nor Newton have a native crypto token. But Coinberry’s services transcend beyond only crypto trading and investing.
For payments, the platform has a Coinberry Pay feature that allows traders with Coinberry accounts to accept cryptocurrency payments, convert funds into CAD, and deposit them into a bank account.
Another additional crypto-related service Coinberry offers is a crypto tax calculator, which can be used for easy tax filing and reporting to the Canada Revenue Agency (CRA).
Coinberry vs. Newton: Cryptocurrencies Available
Coinberry offers users 35+ cryptocurrencies that traders can buy, sell, trade, and invest in. Popular coins on Coinberry include:
- Eos, etc.
On the other hand, Newton supports 70+ crypto coins investors can buy, sell, and trade. Some of the available crypto coins on Newton include:
- Bitcoin Cash
- Curve DAO Token
- Enjin Coin
- Maker DAO
Coinberry vs. Newton: Fees
When it comes to trading cryptocurrencies like Bitcoin Cash or Ethereum, the platform’s trading fee must be taken into consideration. Coinberry also attracts no exchange fees. Instead, the exchange charges a 0% to 2.5% spread, which is relatively high compared to the industry average.
On the other hand, Newton has zero exchange trading fee attached. The Canadian exchange also doesn’t charge deposits or withdrawal fees. The exchange also covers up to $5 in gas fees when users initiate crypto withdrawals.
Instead of charging a trading fee per transaction, Newton uses a spread payment method.
Coinberry vs. Newton: Payment Methods
Coinberry and Newton both support Canadian dollars payments.
On Newton, users can deposit and withdraw funds using bank transfer, crypto payments, and the built-in Interac e-Transfer.
Meanwhile, on Coinberry, users are limited to bank Interac e-Transfer and wire transfers as payment options.
Despite supporting fiat via wire transfer, the two platforms don’t support card payments or e-wallets like PayPal, Skrill, and Neteller.
Coinberry vs. Newton: Security
Coinberry and Newton have the Know Your Customer (KYC) and Anti-money Laundering (AML) procedures requiring all users to complete identity verification. Coinberry and Newton also store most of their customers’ funds in offline cold storage to secure against cyber attacks and theft. Newton particularly states that it stores 80% of its customers’ assets in cold storage.
Both platforms also allow users to safeguard their accounts using two-factor authentication (2FA), biometric login, security questions, mobile notifications, one-time passwords (OTPs), etc. However, 2FA is not the best security measure because hackers can still navigate it.
To further protect its customers, Coinberry has a secure insurance fund with the Lloyd’s of London insurance company to repay users if the exchange gets breached or hacked with funds stolen. Coinberry is also more regulated than Newton because of its registration with the Personal Information Protection and Electronic Documents Act (PIPEDA).
In addition, Coinberry partners with a reputable custodial service provider, Gemini, to store investors’ assets. With the partnership, Coinberry investors are insured up to $200 million for cold crypto asset storage.
Coinberry vs. Newton: Earn/Staking Rewards
Another important feature crypto investors look out for when considering a crypto exchange is staking features. Investors can position themselves for more profit by locking up a portion of their crypto holdings with crypto staking.
However, throughout our review of both exchanges, we did not discover any form of crypto staking feature available on Coinberry.
On the other hand, Newton has a new stake-to-earn feature called Newton Earn. The feature is yet to be launched, but the website states that users will be able to earn rewards when they lock up crypto assets in their Newton wallets. Interested investors can join the waitlist for more updates.
Coinberry vs. Newton: Usability
According to online Coinberry reviews and experience during our research, the platform prioritizes accessibility and easy navigation. The mobile and desktop channels have a simple user interface to give users the ultimate experience.
Newton also offers an easy-to-use interface on its mobile and desktop platforms, making it easily accessible to all users.
Coinberry vs. Newton: Customer Service
Coinberry and Newton have dedicated customer support teams available to customers 24/7. Both exchanges also have learning resources and FAQ sections where users can navigate to solve challenges they may face using the cryptocurrency exchanges.
Similarly, the customer service team on each platform can be reached via phone support, email, and live chat support channels.
However, going by numerous online reviews, Coinberry has negative feedback about the email and phone support teams and their negligence in resolving user fund withdrawal issues. The crypto exchange has a 3.5-star rating from a possible 5 after 831 reviews on TrustPilot.
In contrast, existing users commend Newton’s customer support team for its excellent service and live chat support. The platform has a 4.1-star rating from a possible 5 on TrustPilot, and the support team is also reportedly patient and swift when handling issues.
Conclusion: Final Verdict
Coinberry and Newton offer Canadian traders easy and fast ways to buy and sell cryptocurrency. Both platforms offer a simple interface – with no pro trading features – making it easy for investors on all levels to sign up and start trading. They also charge no deposit or withdrawal fees.
Coinberry offers more security and is best for beginners looking for convenient ways to buy and sell crypto. However, Newton supports more cryptocurrency options with tighter spreads and high liquidity.
Newton also has its advanced trading platform, called Newton Pro, in the works. The platform is currently in its beta stage, and experts can take advantage of it when it launches. With Newton Pro on the way, advanced traders will naturally gravitate towards the Newton exchange.
In conclusion, Newton is the better choice because it’s more affordable, lists the most popular coins for Canadian traders and investors, and is implementing its pro trading and stake/earn features.
Most frequent questions and answers
Coinbase and Binance are some of the cheapest cryptocurrency exchanges for Canadian investors looking to buy and sell crypto with low fees.
Newton is a Canadian crypto exchange headquartered in Toronto, Ontario, Canada. The platform is suitable for Canadian investors looking to invest in a wide range of crypto assets.
Andrei Poliakov is Coinberry’s CEO and co-founder. He founded Coinberry in 2017, and the exchange is now a leading Canadian crypto trading platform.
The Coinberry wallet is safeguarded against phishing and exchange hacks. Coinberry has no history of hacks or theft.
Coinberry allows users to transfer crypto funds from the Coinberry wallet to another wallet with a few clicks.
Binance Canada has a wide range of crypto assets that traders can buy, sell, and trade. The exchange supports 350+ coins, including Bitcoin, Ethereum, Doge, and BNB.
Newton is more suitable for beginner traders because it offers a basic, easy-to-use interface. NDAX offers basic and pro trading platforms for beginner and experienced traders, making it the perfect exchange for both trader experience levels.