Newton Crypto Exchange Review 2022 – Fees, Pros, and Cons

Newton stands out as one of the leading crypto exchanges in several countries. The platform initiated its operations in 2018, with the intent to make crypto trading much easier for everyone. Since its launch, the Newton crypto exchange has attracted many investors with its exquisite services. 

The best thing about the Newton crypto exchange is that it continually strives to deliver the best to its users. Newton crypto exchange continuously adds new and better features to provide a seamless trading experience. Besides, the platform’s user interface is built with keen attention to detail, making it easy to navigate.  

Therefore, if you’ve been considering signing up for the Newton Crypto platform, this might be a great aid to you! Continue reading as we’ve put together this comprehensive Newton crypto review to help you better understand the offerings of this platform.

Pros and Cons of Newton Crypto Exchange

Newton Crypto Trading Platform At a Glance

Newton Crypto Exchange: Overview  

Deriving its name from Sir Isaac Newton, the Newton crypto exchange is a crypto exchange based in Canada. The platform is accessible only to Canadian users, and currently, over 10000 people are associated with the platform. With an unmatched focus on the Canadian market, Newton crypto exchange claims to charge no fees to its users. 

However, the distinct features and offerings of the Newton crypto exchange platform are what sets it apart from its competitors. Some of the most well-known features on the platform include high liquidity, third-party custody, highly competitive spreads, and instant account verification. 

Besides that, the platform provides users with daily off-site backups, direct bank integration, software for digital currencies, and institutional-grade storage. Most interestingly, you can seamlessly access the platform through your mobile devices. As a result, it becomes easier to carry out trades even when on the go. 

Newton crypto exchange recently completed a Series B funding round where it raised USD 20 million. DVX Capital and CI Financial Corp are the top investors to back Newton crypto exchange. Additionally, the platform supports over 70 crypto tokens and coins. 

Newton crypto exchange is also regulated effectively as a Money Service Business with FINTRAC. There are several ways you can deposit your funds on the platform, making it easier to have a convenient crypto trading experience. However, it is impossible to withdraw funds from the platform until the fiat payments are cleared.      

Most importantly, the sign-up process of Newton crypto exchange is as simple and fast as it gets. However, that does not mean the platform compromises security to ensure speedy registration. You will need to fill out an extensive Know Your Customer or KYC before trading your cryptos through the platform. You can even leverage the two-factor authentication mechanism to ensure added security. 

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Cryptos You Can Trade On Newton Crypto Exchange 

Newton crypto exchange supports a wide range of large and small crypto projects, providing them with every chance to diversify their portfolios and make the most of every opportunity. 

Some of the most common cryptos you can find on the Newton crypto exchange include:

The cryptocurrencies mentioned above are just a few of many, and there are numerous other cryptos you can trade on the platform. Besides, the platform is continually adding new cryptos to the list, so check out their website to get the latest list of tradable cryptos. 

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How Does The Newton Crypto Exchange Work?

Newton crypto exchange is one of those few platforms that offer instant verification. This means you can set up your account in just a couple of minutes and start trading your cryptos. However, similar to most other crypto exchanges, even Newton crypto exchange requires users to fill out a KYC form. This is important to ensure all the regulatory requirements are met effectively. 

After completing the verification process, you can start funding your trading account. Newton crypto exchange makes it very easy to fund your accounts, leveraging different methods that suit users’ requirements. These methods include crypto deposits, Interac e-Transfer, and wire transfer. 

Other than that, buying and selling cryptos on this platform is as easy as it gets. You can easily find the crypto of your choice from a wide range of cryptos offered by the platform and make your purchase in no time. 

You can even store your cryptos in the Newton wallet or store them offline for better security. Thus, if you are someone getting started with crypto, Newton crypto exchange is the best-suited platform to ensure you have an unmatched experience. 

Trade with Newton Exchange         

Features In Newton Crypto Exchange 

Newton crypto exchange provides users with a wide range of features and functionalities that eliminate all the hassle of complex crypto trading mechanisms. So let’s check out some of these features one at a time.  

1. No Transaction Fees

Newton charges no transaction fees to its users, making it one of the most reliable platforms to get started with! Given how most available crypto trading platforms are heavily reliant on these charges. While these charges are going down with increasing competition, they can still leave a notable dent in your returns. 

The platform does not charge any fees from its traders, meaning that you need not worry about any deposit fees, trading fees, or withdrawal fees. But this raises the question of how Newton crypto exchange makes money. Well, the platform makes its fortunes through its spreads. Interestingly, all these spreads are transparently visible on the Newton crypto exchange’s official website. 

The Newton crypto exchange platform spreads mostly hover around 0.60% to 1.00% in most cases. But since the platform does not charge any trading fees, this is all you pay for trading on the platform.      

2. Instant Account Verification

The instant account verification continues to be one of the most prominent features of the platform. It provides the perfect platform for traders who want to skip the processing time and get started with their trades. 

With Newton crypto exchange, you won’t have to wait for days to approve your account. As a result, you can capitalize on these opportunities without any second thought. Furthermore, once you are through with the verification process, there are several ways you can deposit funds in your account. These ways include bank wire transfers, Interac e-Transfer from your bank account, and crypto deposits from other external crypto wallets. However, you might want to consider the charges that the platform attracts for such features. 

3. Highly Interactive Mobile Application

One can do almost anything through their mobile phones and internet access. However, imagine living in this fast-paced society and trading your cryptos only through your desktops and laptops. This certainly is not an appealing prospect for anyone. 

Fortunately, users on the Newton crypto exchange need to worry about this. Newton crypto exchange provides its users with a highly interactive mobile application compatible with both Android and iOS devices. This presents a highly convenient alternative for everyone looking to trade in cryptos, even when on the go. Furthermore, the application will allow you to buy and sell your cryptocurrencies very conveniently, just as you would on a desktop or laptop. 

The Newton crypto exchange’s desktop and mobile app versions offer users the limit order option. This makes it much easier to place and execute advanced orders, irrespective of one’s experience and expertise in cryptos trading. Therefore, it is justified to choose Newton trading for trading your cryptocurrencies even when on the go.  

4. Referral Program From Newton

Crypto can appear daunting for anyone foreign to the concept of crypto trading. However, one must understand that crypto is a relatively new concept and people are still reluctant to get on board with this foreign concept. Thus, a little push can always be helpful to get one started with crypto trading. This is where the referral program from Newton comes in as a handy tool. 

Newton provides its users with a bonus on inviting friends to the platform. Existing users will earn a reward while introducing someone to an entirely new concept of making money. Besides, leveraging the referral program is very easy as all you need to do is go to the Referrals tabs on the dashboard. 

Following this, you can get a link and send it to others, inviting them to join the platform. After signing up, the user needs to sell or buy cryptos worth at least $100 to earn a reward of $25. Thus, everyone can leverage this mechanism to start trading in cryptos with others and capitalize on the same.       

5. Third-Party Custody

Storing your crypto assets safely and securely is one of the most important aspects of crypto trading. Unfortunately, there have been many instances where people have fallen victim to fraudulent claims, ultimately losing all their crypto assets. Besides that, there have also been scenarios where hackers gain access to other storage and sweep the storage clean in a matter of seconds. 

Thus, Newton crypto exchange strives to address such concerns with its third-party custodian partnership with Balance and Fire Blocks. This means all your crypto assets are stored in cold storage, making it almost impossible for others to access these assets. Additionally, the storage is an institutional-grade facility so that no one can breach its security. 

Sources also suggest that Newton will soon be transitioning to the Coinbase Custody shortly, delivering an unmatched security level. This is very important because accessing, tampering, or stealing from cold storage is impossible. In addition, the platform conducts daily off-site backups while maintaining direct bank integrations. This minimizes the risk of fraud and keeps your cryptos safe and secure.    

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Newton Crypto Exchange Fee Structure

As mentioned earlier, Newton crypto exchange does not charge any fees from its users. This means you can seamlessly trade between cryptocurrencies without worrying about any trading fees. Besides that, the platform does not charge any fees for withdrawing or depositing funds in their accounts. 

However, the platform still needs to earn revenue and sustain its operations. Through the bid-ask spreads, it does so where they earn revenue when people exchange their cryptos for other cryptos. These prices might fluctuate, but the spread ranges from around 0.5% to 1% in most cases. 

Additionally, the Newton crypto exchange leverages the Surge Pricing mechanism without any markup fees. They also cover the initial $5 in-network fees meaning users only need to pay for the actual network fee cost without any markup. Consequently, the remainder will come out of the withdrawal amount. The platform also provides a detailed breakdown of the cost to ensure better transparency. 

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How Safe is Newton Crypto Exchange?      

When it comes to security and safety, the Newton crypto exchange has the best offerings in the market. The platform stores all its customer data in Canada itself with undeterred compliance with PIPEDA. Additionally, the platform provides its users with cold storage facilities to help you store your cryptos safely and securely. 

Besides that, the Newton crypto exchange partners with PLAID. If you are not aware, PLAID is one of Canada’s most reputed security management companies. This security company will store and protect all your information associated with the KYC verification. Additionally, Newton crypto exchange also provides its users with direct bank integration where all your data is stored safely. 

But most importantly, the Newton crypto exchange platform is regulated by the Financial Transactions and Report Analysis Center of Canada (FINTRAC). Additionally, the platform also takes off-site backups on a daily basis through the website. Finally, the Newton crypto exchange also implements international-grade storage that helps users store their cryptos safely and securely. 

Customer Support From Newton Crypto Exchange      

Crypto trading is a complex process, and there are often cases where users can benefit from a bit of assistance. Newton crypto exchange understands and acknowledges these issues and provides its users with unmatched customer support. There are a number of ways you can avail of customer support from Newton crypto exchange. This includes contacting the executives through social media platforms and through emails. 

Additionally, the Newton crypto exchange platform also provides its users with numerous tutorials, articles, and FAQs readily available on the platform. You can open support tickets through the mobile application and website whenever you need to communicate with customer support executives. The support team is open on Sunday and Monday from 9:00 a.m. to 12 a.m. EST. Also, the Newton crypto exchange platforms assure that all queries will be 24 hours.      

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How to Get Started With Newton Crypto Exchange?

Newton crypto exchange is one of those few crypto trading platforms that makes it very easy to get started with the platform. The relatively simple process will take more than 5 to 10 mins at the maximum. Then, all you need to do is verify yourself as a user with all personal information and identity details to open the account. 

In most cases, the verification will be done almost immediately. However, in certain cases, the process might take up to 48 hours in case there is some complication. So let’s make it more simple with the step-by-step guide. 

Step 1: Every user has to be a permanent Canadian to sign up on the Newton crypto exchange platform.

Step 2: The following step is to carry out other important steps, such as connecting your bank account. 

Step 3: The final step is where users need to answer a couple of security questions along with a strong password to ensure secure access to the platform.    

Newton crypto exchange also requires certain specific documents for the sign-up process. These documents include:

• Name
• Contact number
• Address
• Canadian phone number
• Government-issued ID 
• Email address 
• Selfie for completing the verification 

After you have entered all the details, the account will be verified. Once the verification process is completed, you can start depositing funds and get on with trading cryptocurrencies. 

How To Buy And Sell Cryptos On The Newton Crypto Exchange Platform?

Buying and selling your cryptocurrencies is a left-hand task on the Newton crypto exchange platform. However, you can seamlessly trade your crypto assets like a pro with just a couple of simple steps. 

Step 1: The first thing you need to do is deposit funds in your account. There are different ways you can deposit funds in your account, so you are free to choose the one that suits your preferences. 

Step 2: The next step is to go into the marketplace and start trading your crypto assets without worrying about any trading fees. 

Step 3: Finally, you can seamlessly withdraw your funds if needed or keep your cryptos safe and secure in the cold storage offered by Newton crypto exchange. 

Note: You might want to understand the charges associated with the different withdrawal options over Newton.

How is Newton Crypto Exchange Different From Others?

Newton crypto exchange comes with different distinct features and functionalities that set it apart from others. Some of these include: 

1. The signing up process in the Newton crypto exchange is very simple and time-efficient. Users need to carry out the KYC process and furnish their bank details with PLAID. 
2. The platform also offers two-factor authentication to ensure unmatched security at all times. 
3. The security features of this platform are truly commendable as it adheres to many security protocols to protect your account from hacks, scans, and malware.
4. Newton crypto exchange is registered with one of the strictest regulatory bodies, FINTRAC. Besides that, the platform ensures effective compliance with all AML or KYC regulations. 
5. Newton crypto exchange ensures effective verification for all its new users with a special focus on their identification. 
6. The verification process on the platform is completed through mobile phones or emails. 
7. One of the most appealing factors about trading over the Newton crypto exchange is the platform stores all its crypto assets in offline storage. This ensures no one can gain unauthorized access to the platform.          
8. Newton crypto exchange also provides its users with a mobile application that allows you to trade cryptos even when on the go. 

Final Verdict

Newton crypto exchange is currently one of the best crypto trading you can use as a Canadian citizen. Since the platform is explicitly designed for Canadian crypto traders, you will certainly have a remarkable experience using the Newton crypto exchange. Most importantly, the platform does not charge any fees, so you need not worry about others eating into your returns. 

Additionally, the user-friendly interface of the Newton crypto exchange platform is ideal for enhancing your overall crypto trading experience. So if you are a permanent resident of Canada, you must definitely try out the Newton crypto exchange and make fortunes without any hassle.   

Shrey Jain

Shrey Jain is a Chartered Accountant who holds a forte in creating informative content on niches like Finance, Blockchain, crypto, and Taxation. He is a contributor on Hackernoon and Publish0x, where the audience has highly appreciated his articles. In addition, his knowledge in the finance field has helped both beginners and experts gain valuable insights into the domains of Blockchain and finance.

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