Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    The Complete Newton Crypto Review 2022

    Newton crypto review

    Newton Crypto Review: Our Opinion

    Given the growing interest in cryptocurrencies, several Canadian investors are curious about the Newton crypto exchange, hence the need for this Newton Crypto review.

    Newton is a Canadian based cryptocurrency exchange that allows traders to buy and sell crypto at low cost with low trading fees. The cryptocurrency exchange is innovative with its features and value offerings, making it one of Canada’s best crypto exchanges for trading crypto assets.

    Newton’s exchange has superseded expectations, providing investors with convenient ways of generating profits at low costs. Due to its unique features, the exchange has gained popularity as it makes constant improvements to its offerings.

    Newton users interface exudes professionalism as well as a feeling of trust and convenience to its users. Amid several attempts to reach efficiency, Newton has successfully created a refined user experience in the crypto domain. Newton is also remarkable for its simple fee structure for Canadian crypto investors.

    An Overview of Newton

    Newton Home Page

    Newton was founded in 2018 by Dustin Walper. The crypto exchange, based in Toronto, Canada, was built to set a strong example for good corporate citizenship in the crypto space. 

    The company provides Canadian citizens access to buy, trade and sell crypto. It also provides access to competitive spreads, instant verification, and high liquidity. Newton is available on iOS, Android, and web apps. The platform is user-friendly, and registration is straightforward. 

    Like other crypto exchanges, Newton requires users to verify their identity for Know Your Customer (KYC) purposes and to meet regulatory requirements. The instant verification process requires uploading copies of either your driver’s license or government-issued ID card. Additionally, you would need to upload a document confirming your place of residence.

    Newton adheres to the Canadian regulations as it is registered as a Money Service Business by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It employs a host of security measures to ensure that user funds are kept safe. Towards this end, Newton stores a large chunk of its crypto holdings in secure locations with no access to the internet. 

    Additionally, private keys are backed up and stored in distributed locations. User-specific safety includes two-factor authentication (2FA), passwords, and others. 

    Newton claims to support over 70 top-ranking digital assets for trading. The platform has access to DV trading, granting users access to large liquidity pools and balances.

    This Newton crypto review summarises the platform’s best aspects and provides insight on some of the things investors should know.

    Pros

    Cons

    Key Features of Newton

    • Available Mobile app for iOS and Android and on the web.

    • 70+ of the most popular cryptocurrencies are supported, making it the Canadian exchange with the biggest selection.

    • Some of the Best prices in Canada.

    • Supports Canadian Dollar.

    • World-class security.

    Cryptocurrencies Available on Newton

    Available Cryptocurrencies in Newton

    The crypto trading platform supports more cryptocurrencies than most Canadian exchanges. There are over 70 cryptocurrencies available on Newton. These are some of the most popular cryptocurrencies listed on the platform:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Basic Attention Token (BAT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
    • Compound (COMP)
    • Bitcoin Cash (BCH)
    • Chainlink (LINK)
    • Polygon (MATIC)
    • Stellar (XLM)
    • ApeCoin (APE)

    Newton constantly improves its features and regularly lists more cryptocurrencies to provide its users with a broader choice for investments. However, the platform only considers digital assets with strong adoption and a technical roadmap for listing. 

    Newton Fees

    Newton Fees

    Most exchanges charge network fees for deposits and withdrawals, but these transaction processes are free on Newton. When depositing funds using Interac e-transfer, the minimum amount is $10, and it takes up to 30 minutes to complete. Wire transfer from a bank account requires a minimum of $10,000 and takes three to five days. Crypto deposits are instant with no minimum amounts attached and no additional network fees.

    When withdrawing funds using e-transfer, users need to withdraw a minimum of $10; the process takes up to 30 mins before it is completed.

    When using a wire transfer, the minimum amount is $10,000, and it takes three to five days. Direct deposits take two to four days to resolve, while crypto withdrawals are free except when network fees rise to $5 due to volume surges. Still, withdrawals are instant.

    The platform does not charge commissions but earns by selling directly to its users and taking the price difference between the bid and ask. The spread usually changes, but it is between 0.5% to 0.7% on average.

    Payment Methods

    Newton exchange provides investors with several payment methods depending on the urgency of their transactions. The platform offers free fiat deposits from bank accounts using Interac e-transfers, which are completed in 30 minutes; wire transfers, which are completed in three to five days; pre-authorised bank transfers and transfers from external wallets, which are instant.

    Newton offers zero withdrawal or funding fees and they cover the first $5 in network fees for every withdrawal.

    Newton Security

    Newton Security Features

    The Canadian cryptocurrency exchange takes the necessary steps to maintain the privacy and security of its users.

    One of the ways it does this is through Two-Factor Authentication (2FA). 2FA helps to protect user accounts against hackers by requiring that all transactions be vetted through an SMS code sent to the user’s mobile number. The platform offers custodial and non-custodial crypto storage.

    This means that users can transfer their crypto to another wallet or leave it on the exchange. If crypto assets are left on the platform, Newton stores most of them in cold storage at secure locations. These efforts ensure to keep Newton safe and protect the interests of its users.

    Newton has partnered with Balance, a third party custody platform that offers institutional-grade security for digital assets. They store crypto from multinational companies in offline locations using hardware devices. Balance protects against theft and hacks from false actors and fraudulent behaviours from unscrupulous employees.

    Staking Rewards

    Our Newton crypto review shows that the Canadian crypto exchange does not support staking services. Newton is still in the expansion phase and crypto staking could be available soon.

    Opening a Newton Account

    Our Newton Exchange review has discovered that the Newton account opening process is streamlined and easy to complete in minutes. If you want to get started, follow these easy steps:

    1. Sign Up

    Sign up to Newton

    To get started with Newton, begin by providing a valid email address and a password.

    2. Verify your Account

    Once your email address has been verified, you will be required to verify your account.

    For the verification process, users will need to provide a phone number, address, contact details, a government-issued ID or driver’s license, and a selfie to verify the ID photograph. It usually takes a few minutes to verify all the needed documents and unlock the full suite of features the Newton platform offers.

    3. Fund your account

    Once verification is complete, You can easily fund the account. Tap on the ‘Deposit’ button and select a preferred payment method.

    Insert the stipulated minimum and click on the ‘Deposit’ button to conclude the transaction. Newton charges zero fees for deposits.

    4. Buy Crypto

    Newton crypto prices

    Once your account is funded, search for your cryptocurrency of preference. To buy, click on the ‘Buy’ button beside the crypto asset. Follow the prompts that ensue to complete the process.

    Trading Experience on Newton

    Newton has a perfected web design with a simple user interface. The crypto trading platform offers a feeling of sophistication with an accessible functionality for beginner and expert traders.

    The dashboard is sleek and well organised, providing all the basic functions at a glance. Investors do not need to dig up menu options to find a feature. They can fund their account, buy crypto assets with Canadian dollars from their bank account, and trade all from the dashboard.

    Newton Customer Support

    Newton customer support

    Newton exchange reviews reveal how investors can receive support on disputes and get answers to their questions through dedicated sections.

    There are several ways to get support from the Newton platform. For general information, users can check the Newton Knowledge Base. In the case of specific account issues, users can connect with the Customer Success Team through the in-app help chat.

    Users can also leave direct messages using Newton’s social media platforms, spanning Facebook, Instagram, Twitter, and several other channels. Users can check the status and Twitter page to view system updates.

    Account Management

    This Newton exchange review also shows how the platform uses its sophisticated user interface to provide users with all they need. Regarding account management, users can easily take care of issues they face due to the intuitive way the platform is built. They can reach out to customer service for more complex problems or go through the Newton Knowledge Base for insight.

    Crypto Education on Newton

    Newton Crypto exchange reviews have shown that the platform has a dedicated section for investors to learn about all the platform’s offerings and how to use each feature.

    The Newton Knowledge Base is a section that provides investors with Newton’s fee breakdown, available cryptocurrencies, and a company overview.

    The cryptocurrency exchange also has a blog that provides learning articles on various crypto-related topics as well as news and major announcements.

    Is Newton Right For You?

    Is Newton the right exchange for you

    This Newton Crypto review sheds light on the platform’s most important features and helps investors know if it is right for them. Following the orderly rundown of the platform’s modus operandi, it is safe to say that the platform is right for various kinds of Canadian beginner investors.

    The platform provides users with competitive spreads on trades and low transaction fees to facilitate all financial processes. According to several reports analysis centre, the fees are one of the highlights of the platform.

    Newton provides investors with a host of features that meet the needs of both novice and expert traders. The platform provides temporary wallets for every cryptocurrency and gives users the option of storing their assets in external wallets. This gives a sense of trust and transparency to users. 

    The platform is secured with two-factor authentication to ensure that hackers do not gain access to user accounts. Newton has also partnered with a third-party custodian to store user assets offline, making it even more difficult for false actors to access the funds.

    All these features are available to users at a fair price, making it one of the best places for any type of investor to trade.

    Final Thoughts

    Investing in cryptocurrencies requires careful research on the part of investors to ensure that they are selecting the best assets to invest in and the best platforms to use. While many platforms provide good features, a lot of them do not come close to the innovative nature of the Newton platform.

    This Newton review provides insight into all the most important aspects of the platform and provides a condensed opinion of how Newton operates.

    The trading platform is one of the cheapest exchanges in the crypto industry, and it provides the best user experience for Canadian investors. It provides over 60 digital assets to choose from and many valuable features. These features include commission-free trading, third-party custody, and instant account verification.

    Our extensive analysis of the Canadian Crypto Exchanges doesn’t stop here. You can also read our list of the 10 best crypto exchange Canada to find an alternative to Newton.

    FAQ

    Most frequent questions and answers

    Investors can day trade on Newton since the platform allows them to sell one currency for another. The platform has listed some stablecoins, such as USDC, that offer stability while trading. This makes it one of the best options for day trading.

    There are over 70 crypto assets available on Newton. The most popular assets are Bitcoin, Ethereum, USDC, Polygon, Dogecoin, Cardano, and Stellar. Investors can trade any of these currencies and more using the crypto platform.

    There are no deposit and withdrawal fees. Using any payment method is free. This allows investors to enjoy the entirety of their profits regardless of how many times they decide to withdraw.

    The trading platform is great for beginners as it has a user-friendly web design that makes it easy to navigate. The dashboard lists all the most important features available, saving investors the stress of digging up menus.

     

    Newton is not insured, but it provides standard security for investors. The platform uses standard security measures to keep user funds and information safe. Some of these measures include 2FA and cold storage.

    Newton’s spread is not stipulated as the platform does not have a regularised spread fee structure. However, the spreads usually vary between 0.5% to 0.75%.

      We always try to provide the most accurate information available, and make sure our team follow through.
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      Skrumble.com 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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