Newton Exchange Review 2024 : Boost Your Crypto Game in Canada

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Introduction

Newton exchange was established in 2018 by Dustin Walper to satisfy the trader’s investment needs. In recent years, we can see a growing number of investors trading with cryptocurrency exchanges that offer good services. Even though these platforms offer different services, traders have a hard time finding the best cryptocurrency exchange. Newton is a popular cryptocurrency exchange that started its operations in Canada. Since its Inception, this exchange has grown exponentially and in popularity. It strives to add new features and coins regularly. Newton’s user interface is easy to use, and it has been built with attention to detail.

According to our Newton exchange review, this cryptocurrency exchange is open only to Canadian users, and currently, it has more than 100,000 active users.

What Is Newton Exchange?

Newton is named after Isaac Newton, and it started its operations in Canada by its CEO Dustin Walper. The main goal of the exchange is to focus on the Canadian market, and it has more than 100,000 users currently. This cryptocurrency exchange claims that it does not charge any fees and focuses only on the Canadian market. It provides several features that make them one of a kind, including third-party custody, high liquidity, instant verification, and competitive spreads.

Further, the platform does daily off-site backups, and provides institutional-grade storage, direct bank integration, and software for digital currencies.

How Does Newton Exchange Work?

The users should be aware that cryptocurrencies purchased from other exchanges are stored in their digital wallets; this platform allows them to transfer their coins to the platform’s best cryptocurrency wallet.

Newton supports only Canadian Dollars, and if the user wants to use cryptos, first, they need to convert them into Canadian Dollars by verifying their identity. They should link their trading account to their bank account. If the user wants to use the Newton exchange, they need to go to the website of Newton and click on the login button, which will take them to another page. The user can log in to their existing account, or they can create a new account. Next, the user will be asked to offer their email address and password.

The users are instructed to use a strong password, including uppercase and lowercase letters, symbols, and numbers. Before clicking on the “get started” button, the user should read and click to agree with the terms and conditions and the platform’s privacy policy.

Features of Newton Exchange

Here are some of the critical features of Newton Exchange:-

• One of the significant focuses of Newton’s exchange is to let the users purchase cryptocurrencies at a lower fee. This platform offers an excellent user interface; in this way, the users are not offered few features like limit orders, pro tools, research tools, recurring purchases, and several more.
• Moreover, the user will purchase Bitcoins and other cryptocurrencies at the lowest prices with this Canadian cryptocurrency exchange.
• As per our Newton exchange review, this platform offers Android, IOS, and web apps where users can trade from their computer and mobile device. The mobile app has few tabs, a sleek user design, and dark theme charts that are easy to use.
• Newton provides a wide selection of cryptocurrencies when compared with other Canadian cryptocurrency exchanges. Also, it does not charge any trading fees and offers the lowest spreads seen on the website.
• Newton exchange offers Newton Pro beta and has several advanced features like limit orders, transfer, order book, and more; this promises tighter spreads and higher liquidity when released.
• Newton offers a referral program where all the verified accounts can have access to this program. Further, the users can access the unique link given in the settings and track referrals and earnings. Presently, the user gets $25 as a making fee for each referral when their referral trades for $100.

Is Newton Exchange Regulated?

Newton’s customer data are stored in Canada and are PIPEDA compliant. Also, Newton exchange uses cold storage to keep its user’s cryptocurrency holdings safe and secure.

The Newton crypto exchange has partnered with PLAID, a well-known Canadian security management company that protects information regarding KYC verification. It also provides direct Bank integration where the data is kept secure.

One of the most important aspects is that the Newton exchange is regulated by FINTRAC ( Financial Transactions and Report Analysis Center of Canada). Apart from this, Newton exchange makes off-site backups daily on their website, and they also implement institutional-grade storage for storing their user’s cryptocurrencies.

Services Offered by Newton Exchange

Newton exchange is a “no-fee cryptocurrency brokerage” and is run by an experienced team of professionals and entrepreneurs with broad experience in the cryptocurrency industry. Further, this platform has dealt with several threats and challenges imposed by several regulatory authorities in Canada.

The major advantage of this crypto exchange is it does not charge extra trading fees for offering its services. They make profits by capitalizing on the price differences, the spread between the bid and ask. Newton provides top-class security where the user’s funds are stored in offline cold wallets. Also, it is one of the best crypto exchanges to trade cryptocurrencies in Canada.

Newton Exchange Review: Pros and Cons

Pros	Cons
This platform provides several crypto coins when compared with other Canadian exchanges.	The verification process might be a bit slow.
Offers a smooth and easy user interface.	Canadian citizens and permanent residents are allowed to set up an account with this platform.
Continuously improves their value offerings and features.	Funds cannot be withdrawn from Newton until the fiat payments are cleared.
It offers a low fee structure and covers CAD 5 as a network fee.
Newton offers strong security measures that include partnerships with PLAID.
It provides lower spreads with high liquidity.
The interface offered by Newton makes it beginner-friendly.

Getting Started With Newton Exchange

Opening a new account with Newton exchange does not take more than 5 to 10 minutes, and it is a relatively simple process. The user should verify their personal information and their identity to open an account. In most cases, the verification process is immediate, but in some cases, it will take up to 48 hours.

Here is the step-by-step process to get started with Newton exchange:-

• The first step to sign up on the Newton exchange is to be a permanent resident and Canadian citizen.
• The next step is to go through various steps like connecting the bank account, where the user will be asked to offer their security questions and a strong password. This step is exclusive to this platform, and it uses a service called Plaid.

Here are the requirements to Sign up on the platform:-

• Name
• Phone number
• Address
• Canadian Contact number
• Email address
• Government ID
• Selfie for verification

When the user provides all the details, their Newton account is verified. After adding funds to the platform, the user can start trading instantly.

How to Buy and Sell Cryptocurrencies on Newton Exchange?

Here are the few steps to buy and sell cryptocurrencies through Newton exchange –

If the user proceeds to buy any crypto, they need to deposit CAD instantly to start trading. Next, the users should go to the marketplace and start trading without any trading charges. Traders can withdraw instantly if they like to withdraw any cryptocurrencies.

Newton Exchange Fees

Newton is “a no-fee cryptocurrency brokerage,” It charges competitive fees compared to other cryptocurrency exchanges in Canada. Using Newton exchange, users need not pay maker or taker fees, but they pay the spread. The average spread is between 0.50% to 0.70%.

One of the significant fees Newton users should consider in any platform is the withdrawal fee. Further, the withdrawal fee is fixed irrespective of the crypto units withdrawn). It varies from cryptocurrency to cryptocurrency; however, at Newton exchange, it does not charge any withdrawal fees from the user. The user should pay the network fees when they are sending crypto to another platform.

The network fee varies every day, based on the current pressure on the crypto network. But it is substantially lower when compared with the global industry average withdrawal fee.

Newton exchange does not charge for depositing funds, and they do not have a flat fee when the user is executing a trade. The spreads are set from the user ranges from 0.50% to 1% of the total price.

Newton exchange has come up with Surge pricing where it does not charge markup fees, and this exchange covers up to $5 in-network fees. The user will pay actual network fees excluding $5 with no markup. Further, the user can see the cost breakdown before confirming their order. Click here to know more about its fee structure.

Newton Exchange Limits

The users can withdraw their funds quickly, and some of the funding methods are Interac e-transfer, pre-authorized debit, wire transfers, and crypto. This exchange does not charge fees when the user is executing a trade, depositing, or withdrawing funds. This exchange also covers network fees on crypto withdrawals up to 5 CAD, and the funding methods are free to use.

Further, Newton exchange does not charge commissions, and it makes a profit from “bid-ask spread,” which means the difference between buying and selling price. It also buys and sells different coins that enable this exchange to get small amounts as personal gains.

Concerning trading limits, the users can trade up to $10,000 when they activate their account. Later they can also transfer more than 50,000 CAD a day, and the tiers move up when the user’s trading volume goes up.

Newton Exchange Accepted Payment Methods

As per several Newton exchange reviews, this exchange provides a fiat service through a company known as Plaid. When users sign up with this platform, they need to offer their bank account and other details. Plaid is a well-known and trusted industry service that is used by Newton exchange. Currently, Newton exchange provides Interac e-transfers, pre-authorized bank transfers, wire transfers, and transfers through external wallets.

Newton Exchange Supported Currencies and Countries

Suppose the user is interested in registering an account with Newton. In that case, this exchange offers more than 25 cryptocurrencies like Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Ripple, Monero, USD coin, Stellar Lumens, and several more.

Also, the users should know that all the cryptocurrencies are quoted only in CAD. Also, Newton exchange accepts fiat currencies only in CAD, as this exchange is meant only for Canadians. Currently, users of this exchange should be a resident of Canada.

How Is Newton Exchange Different From Others?

The sign-up process on the Newton exchange is very simple, and the trader should go through the KYC process and add their bank account details using Plaid. This exchange encourages their users to set up two-factor authentication to secure their accounts. The sign-up process on this platform is well established and provides a great user experience.

Newton is well aware of the robust security protocols needed to safeguard users’ assets to fight scams, hacks, and malware. The Newton team of professionals has registered with a regulatory body, FINTRAC, and it complies with KYC/AML regulations.

Newton exchange undertakes verification of new traders and their identity; it urges its users to use two-factor authentication methods. Further, this exchange will ask the users to verify the request through email and mobile phone.

Further, Newton exchange stores their users’ funds offline through cold storage connected to the internet and distributed across different locations.

Newton Exchange Mobile App

As per our Newton exchange review, this crypto trading platform provides a mobile app for iPhone and Android devices. It also offers a mobile version that is highly professional, and it can be downloaded from the Google play store and Apple app store.

Newton Exchange Security Measures

Newton exchange uses industry class cold offline storage for their user’s coins and does daily backups of their storage systems. Due to the threats and vulnerabilities, online storage is prone to hacking. Maintaining and storing the funds in cold storage is essential.

Newton provides daily off-site backups, bank integration, and distributed cold storage. It uses third-party custody services and partners like Balance, which offers a significant advantage compared to other cryptocurrency exchange platforms, and thus providing greater security.

Newton Exchange Customer Support

As per the exchange review, Newton customer care can be contacted through email or social media platforms. This exchange offers users several articles, tutorials, and FAQs, that are seen on the website page. If the user wants to communicate with the customer support team, they can open a support ticket through their website or app.

The support team can be contacted from Monday to Sunday from 9:00 a.m. to 12 a.m EST. The user will get a response within 24 hours.

Newton Exchange Review: Bottom Line

In conclusion, Newton exchange has become one of the best exchanges that offer cryptocurrency trading and mobile app. This exchange focuses mainly on Canadian investors, and it is customized to cater to specific regions. It offers very low fees and strict security measures through Plaid, making Newton exchange one of the best options if the users want to maximize more profits.

Newton exchange is a user-friendly and professional cryptocurrency platform that allows Canadian investors to trade with cryptocurrencies. They offer a unique model of zero fees for deposit and withdrawal. By providing these beneficial features, Newton exchange is a good choice for Canadian traders.

FAQs

Is Newton a Good Exchange?

Newton exchange was founded in 2018, and it is one of the best cryptocurrency exchanges. Since its inception, the company has become one of the well-known reliable crypto exchanges for Canadians looking to trade cryptocurrencies at a meager cost.

Is Newton Safe & Legal Exchange?

As per several Newton exchange reviews, Newton is one of the safest and legitimate Canadian cryptocurrencies. It offers two-factor authentication, and they do off-site backups daily. This crypto exchange has partnered with several providers to offer highly secure storage for its clients. This exchange has not been hacked or lost the user funds to theft.

What Crypto Can I Buy on Newton Exchange?

As per our several Newton Exchange reviews, Newton offers numerous cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Monero, USD coin, Stellar Lumens, etc. All their supported cryptocurrencies are only quoted in CAD.

Can I Day Trade on Newton Exchange?

The users can day trade on this crypto exchange; the daily trading limit is 5,000,000 CAD, and the transaction limit for a single trade is CAD 100,000.