Newton is a newly incorporated cryptocurrency exchange in Canada. Dustin Walper founded it in 2018 and it is primarily focused on making a low-cost trading experience for new traders. The cryptocurrency exchange has emphasized creating an easy and low-cost trading experience. This Newton exchange review will focus on how, being a relatively new cryptocurrency exchange, it adds new coins and features on a daily basis. The user interface is simple and has excellent navigation, which will help attract new traders.
Table of Contents
Summary
- Newton cryptocurrency exchange is a new Canada-based exchange.
- Easy navigation and signup process.
- 59 Available coins and Tokens
- Use wire transfer, bank, or wallet transfer to deposit funds and crypto.
- The fee is charged as a plus over the cost of a coin.
Also read, Top 10 Places to Buy Bitcoin in Canada
Newton Exchange Review: Signing up
The sign-up process at the Newton crypto exchange is easy. A user can click on Login button or the sign-up button on the top corner. Moreover, there is a separate login button on the top right corner of the homepage. We believe a signup button could also be added to make it look straightforward.
The account creation page has a different color scheme as compared to the entire Newton website. The steps for the signup process are so simple, and it makes a good user experience.
Also read, 20 Best Crypto Exchange Reddit Communities
Newton Exchange Review: Available Coins
The most exciting thing about Newton Crypto Exchange is the daily addition of new coins and features. Being a new cryptocurrency exchange, it has limited functionality and support for coins. Hence, daily addition and displaying those as updates on the homepage helps maintain excitement among users.
Currently, the exchange supports 59 coins and tokens which are listed here.
Payment Methods
Newton cryptocurrency exchange supports all the usual payment methods such as Credit Cards, Wire Transfers, Bank transfers, and Transfers from External Wallets. You need to transact through Plaid, a payment platform for bank transfers.
Newton Exchange Review: Fees
Yet another innovative feature of Newton Crypto Exchange is that it charges ZERO! Fees for buying and selling cryptocurrencies.
To verify cryptocurrency transactions, gas fees are required. Newton will cover this fee if your transaction fees are less than 5 Canadian Dollars. If your fees exceed $5CAD, you will just have to pay the remainder.
Most of the time, customers would not even notice this charge. This greatly helps when you are new and makes you feel good, but a customer still ends up paying the fees.
So how does Newton Crypto Exchange earn money?
Another innovative way to earn money is to bake the transaction fees into the buying and selling prices (bid-ask spread). So they have this unique feature for earning where they charge just above the normal market rate for transactions, and when the customers transact, a tiny and often non-noticeable part goes to the exchange.
Here are the basic deposit and withdrawal limits at Newton:
Also read, 7 Best Crypto Exchanges in Germany
Newton Crypto: Available Platforms
You can access the Newton Crypto Exchange on three platforms currently. Both the apps are almost similar in usage.
The app has charts, which are very helpful when making the trade. This is surprisingly good since a platform for beginners has a good charting feature.
The iPhone app, as well as the android app, has a dark background, which is popular these days. It has the same portfolio and markets tab. It is very good which causes a better user experience since users do not have to learn separate navigation and usage for different OS.
Is Newton crypto exchange safe?
Newton Crypto Exchange has a “two-factor authentication”(2FA) for login safety. Additionally, it has SSL security on its website. For securing cryptocurrency transactions, it has a SHA256RSA certificate. They have partnered with Balance, a secure technology storage solution, to provide safety for Newton’s data.
Since the cryptocurrency exchange platform is new, it might not have the best security and can be vulnerable to attackers. Hence, users are advised to take safety precautions.
Newton Exchange Review: Pros and Cons
| Pros | Cons |
|---|---|
| Easy to navigate, good for beginners. | The blog is not easy to navigate or update. |
| Low-cost trading. | A fee calculator is missing. |
| Secure Data with Balance. | No email or call support for prospecting customers. |
| No transaction fees up to 5 Canadian Dollars. | |
| Can apply referral code even after registration. |
Conclusion
Newton Crypto Exchange is a relatively new crypto exchange in Canada. Newton continues to add features and coins to its platform. They sure have done well by having an easy-to-navigate website and supporting the most commonly used payment methods. However, since the cryptocurrency platform is new, it might not have the best security and can be vulnerable to attackers.
How do I contact customer support?
There is in-app support for registered customers.
How do I stay updated about Newton Crypto Exchange if there has been no blog post in the past four months?
Newton also has a Twitter page that you can use to get information.
What are the best safety practices for Newton Crypto Exchange users?
Use private internet connection instead of public Wi-Fi and a safe browser which are provided by internet security software. Moreover, use two-factor authentication.
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