Luis Clark
- Home
- /
- Canada & Crypto
- /
- Crypto Exchanges Canada
- /
- Newton vs Coinbase: Which...
Newton vs Coinbase: Which One is the Best?
Luis Clark
- Headquarter: Ontario, CA
- Year Founded: 2018
- No. of Cryptos: 70+
- Fiats Available: CAD
- Fees: No Trading Fees
- NFTs Available: No
- Native Coin: No
- Beginner Friendly: Yes
- Platform App: Desktop, Mobile
- Security Features: Secure Storage, Website Backup, 2FA, 80% cold wallet storage, FINTRAC-regulated
- Headquarter: San Francisco, USA
- Year Founded: 2012
- No. of Cryptos: 100+
- Fiats Available: USD, GBP, EUR
- Fees: 0.00% - 0.60%
- NFTs Available: Yes
- Native Coin: USDC
- Beginner Friendly: Yes
- Platform App: Desktop, Mobile
- Security Features: Cold wallet, 2FA, Password Management, Insurance Fund, FCA and FINTRAC-regulated
The Newton vs Coinbase comparison is pertinent as investors often have to choose between one of the top cryptocurrency exchanges in Canada.
Crypto investors in the Great White North can easily opt for Newton’s standard crypto retail platform to buy cryptocurrencies. The company allows users to purchase crypto in Canadian Dollars (CAD).
On the other hand, Coinbase is a global cryptocurrency exchange with both standard (basic) and advanced (pro) trading features. These features provide ease to both experienced and beginner traders in Canada and beyond to buy, swap, trade, and invest in cryptocurrencies and other digital assets.
After using both crypto exchanges, this Newton vs Coinbase review compares them to help Canadian traders and investors make a sound choice between the two.
Newton vs. Coinbase: Verdict
Our pick in this comparison is Coinbase due to the platform’s security, features and benefits.
Pros
- Simple user interface for crypto newbies
- Mobile app available for easy experience
- Cold wallet to secure customers’ funds and assets
- No trading fees
- List cryptocurrencies that may not be readily available on other platforms
Cons
- Cryptocurrency options are limited
- Spreads may be high
- Only US and Canadian residents can use the platform
Pros
- Wide range of cryptocurrencies available
- Secure safety of users’ data, funds and assets
- FDIC-insured
- Simple user interface
- Coinbase app available
Cons
- Transaction fees may be high
- Poor customer service reviews
Newton vs. Coinbase: Unique Features
Trading Platforms
Newton has a simple, responsive web interface and a user-friendly mobile application. The exchange has no advanced features or charting tools, further supporting its claim to attract inexperienced Canadian traders to purchase and sell cryptocurrencies without hassles.
The Coinbase app and website offer a simple trading platform for beginners and an advanced platform for experienced investors. The original Coinbase platform is simple and straightforward, while the advanced platform (Coinbase Pro) comes with different charts and features for advanced trading. Therefore, Coinbase serves users who prefer a platform with simplicity and others who fancy a platform with advanced trading features.
Crypto Services
Newton only offers spot trading services to its clients. Coinbase, on the other hand, offers other crypto-related services apart from trading. Investors can do much more with their crypto holdings on Coinbase with the following crypto services:
- Crypto staking
- Spot trading
- Crypto borrowing and lending
- Coinbase Crypto Visa Card
- Crypto Payroll Services
- NFT Marketplace, etc.
Winner in Unique Features
In terms of features, Coinbase is the clear winner. The crypto exchange offers a wider range of features, providing more options for investors to make profits.
Newton vs. Coinbase: Cryptocurrencies Available
Coinbase offers users 100+ cryptocurrency options to trade and invest in. Some of the available cryptocurrencies on the Coinbase exchange include:
- Ethereum (ETH)
- Bitcoin (BTC)
- Avalanche (AVAX)
- Litecoin
- DOGE
- XRP
- Bitcoin Cash, etc.
In contrast, the Newton exchange lists 70+ crypto assets investors can buy, sell, and trade, which is lower than Coinbase’s. However, the platform offers crypto coins that are rarely available on other popular Canadian exchanges alongside viral ones. Some of the available crypto coins options include:
- Aave (AAVE)
- Bitcoin (BTC)
- Cardano (ADA)
- Chainlink (LINK)
- Compound (COMP), etc.
Winner in Crypto Availability
Again, Coinbase wins this category because of its additional coin options. However, Newton may be perfect for investors looking for altcoins and other unpopular cryptocurrencies.
Newton vs. Coinbase: Can You Buy and Sell NFTs?
Winner in NFTs Availability
Coinbase is the winner in this category as well because its available NFT marketplace offers users a better trading and investment experience.
Newton vs. Coinbase: Fees
Coinbase uses a maker-taker fee model. Maker fee ranges from 0.00% to 0.40%, while Taker fee ranges from 0.05% to 0.60%. However, only high-volume traders are eligible for the lowest possible fees. According to the Coinbase website, high-volume traders have investments worth $250 million and above.
Also, Coinbase charges a 2.49% fee for debit and credit card transactions, a $10 and $25 fee on wire deposits and withdrawals, respectively, and 0.5% to 2.0% on crypto transactions. However, Automated Clearing House (ACH) transfers are free on both Coinbase and Coinbase Pro.
Newton, on the other hand, has no exchange fees. The platform has no charges for deposits and withdrawals as well. Instead, Newton uses a spread payment method where traders pay between 0.50% – 2.20% for bid-ask prices on the platform’s sell and buy orders. Users may also need to pay network charges – depending on the coin chosen for deposits or withdrawals.
Winner in Fees
In terms of cost, Coinbase is cheaper. Coinbase fees are a little below Newton’s, which can make the difference - especially for high-volume traders.
Newton vs. Coinbase: Payment Methods
Newton and Coinbase offer Canadian-friendly payment methods to make the platforms more accessible to the average Canadian investor. Both platforms offer diverse payment methods, including fiat.
Newton offers a fiat service payment that allows users to integrate the platform into their bank accounts for bank transfers, wire transfers, and electronic transfers.
In addition, the exchange accepts payment in the form of 25+ cryptocurrencies. However, all the payment options are paired with the Canadian Dollar (CAD).
Coinbase does not support using a bank account as a payment method for Canadian customers. Coinbase account owners from the country can buy crypto via debit card. The debit card option is limited to purchases only, but they can sell crypto using PayPal.
Winner in Payment Methods
Newton offers Canadian traders more payment options, including fiat and crypto transactions. That means the company is better than Coinbase in this regard.
Newton vs. Coinbase: Security
Newton and Coinbase employ different security measures to ensure investors are safe and their data, funds, and assets are secure.
According to Canada’s laws and industry regulations, Both exchanges enable the Know Your Customer (KYC) and Anti-money Laundering (AML) procedures and require all users to disclose and verify their identities.
Besides the KYC/AML procedure, both platforms store a significant percentage of users’ assets in offline cold storage. Newton claims to store 80%, and Coinbase says it stores a significant amount of users’ assets in a cold wallet to secure against hacks and threats.
However, Coinbase offers additional safety measures like a custodial insurance fund (currently $250,000 per individual) insured by the Federal Deposit Insurance Corporation (FDIC). Coinbase account owners can also deploy address whitelisting to protect funds from hackers or theft.
Winner in Security
With the additional privacy features Coinbase offers its customers, the platform is a more secure option for Canadian traders and investors.
Newton vs. Coinbase: Earn/Staking Rewards
On Newton, customers can store cryptocurrencies in the Newton crypto wallet whenever they wish and for as long as they want. However, our review did not discover any form of crypto staking available on Newton, as there’s no related information on the website.
Coinbase has a built-in staking feature that users can deploy to stake tokens in just a few taps. With the Coinbase Earn/Staking feature, investors earn interest on the different cryptocurrency options available for staking, including Ethereum and the platform’s native token, USDC. Similarly, investors are rewarded with up to 5.75% annual percentage yield (APY) by using the Coinbase Earn feature.
Winner in Earn/Staking Rewards
The staking feature on Coinbase gives the company an edge in this regard.
Newton vs. Coinbase: Usability
Coinbase prioritizes usability and offers two platforms to its users on both mobile and desktop channels. The basic Coinbase platform has a simple user interface, making it suitable for beginners to navigate the platform easily. There’s also a Coinbase Pro platform for experienced investors who need advanced Bitcoin trading features like charts, stop loss orders, margin trading, etc.
Newton also offers an easy-to-use interface on its mobile and desktop channels. All levels of users can easily sign up and use the platform.
Winner in Usability
Both crypto exchanges offer simple usability and easy access. There is no obvious winner for this category as they offer user-friendly mobile and desktop applications.
Newton vs. Coinbase: Customer Service
Both exchanges dedicated customer support teams are available to customers 24/7.
However, according to numerous online reviews, Coinbase has sub-par customer service experience. The platform has a 1.6-star rating from a possible 5 on TrustPilot, with a lot of negative feedback surrounding how the support team is inefficient and unable to solve numerous problems.
In contrast, users laud Newton’s customer support team for the top-notch customer service it offers. The company has a 4.1-star rating from a possible 5 on TrustPilot. The customer support team is also reportedly patient and swift when handling issues.
Winner in Customer Service
The obvious winner in this category is Newton, with numerous positive feedback from 300+ users.
Conclusion: Final Verdict
This review has highlighted each platform’s unique features and offerings in this Newton vs Coinbase review. Both platforms offer a simple interface that makes it easy for all kinds of investors to get started and invest easily.
Coinbase offers a more secure platform and a wider range of cryptocurrency options from which traders can choose. In comparison, Newton is a less reliable trading platform with 70+ cryptocurrencies, but it offers altcoins and less-popular cryptocurrencies with no trading fee.
In addition, Coinbase has an NFT marketplace, a staking feature, and advanced trading features suitable for experienced investors with a diversified investment strategy. On the other hand, Newton has numerous positive reviews and feedback from existing customers who commend the exchange’s customer support team.
Overall Winner
Overall, Coinbase comes out on top in this Newton vs Coinbase review because of the additional security, offerings, and benefits users can enjoy using the platform.
FAQ
Most frequent questions and answers
To withdraw cryptocurrency from Newton, users should log in to their existing account and tap on the “transfer” icon at the base of the dashboard. Select “Crypto to Wallet”, choose the coin to withdraw, enter the amount and the receiving wallet address, and complete the transaction.
Coinbase is a global cryptocurrency exchange, but other global players, like Binance and Crypto.com, are suitable for Canadian investors as well.
Binance charges lower fees than Coinbase. Binance attracts a 0.10% fee without withdrawal or deposit charges, which is cheaper than Coinbase’s 0.06% fee plus an additional deposit and withdrawal fee.
Newton, Binance, and ZenGo offer the best crypto wallets in Canada.
Coinbase charges a wire fee of $10 for deposits and $25 for withdrawals.
Shakepay supports only Bitcoin and Ethereum, while Newton offers up to 70+ cryptocurrencies, including altcoins. Due to its extensive range of crypto assets, investors may choose Newton over Shakepay.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, 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. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.