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Coinberry vs. Newton: What Works Better For Canadians?

Oleg Galeev

Last updated December 26, 2023

WonderFi and Bitbuy, its parent company, took over all Coinberry client accounts in 2023. This means Coinberry is now part of Bitbuy and isn't taking new sign-ups. If you're interested, sign up at Bitbuy instead. By using our referral link to sign up and depositing $250 in your account, you can receive a bonus of $50. Please note that the comparison provided below is now outdated and is preserved solely for educational and historical reference.

Coinberry and Newton are two Canadian cryptocurrency exchanges that allow you to purchase Bitcoin, Ethereum, and more in just a few clicks. Both exchanges are suitable for beginners, so here at OCryptoCanada, we looked into both exchanges to see how they compare.

Description

Coinberry is a Toronto-based exchange that offers over 30 of the most popular cryptocurrencies and it makes it simple for Canadians to buy and trade crypto.

Newton prides itself on being Canada’s first no-fee cryptocurrency exchange. They claim their exchange is 2-3x lower than most other exchanges.

Coins

Bitcoin, Ethereum, Litecoin, XRP, Stellar, Bitcoin Cash, Cardano, Axie Infinity, Dogecoin, Polkadot, Polygon, SHIB, and 20 more

Bitcoin, Ethereum, Litecoin, XRP, Stellar, Bitcoin Cash, Dogecoin, USDC, USDT, Chainlink, Aave, Uniswap, Polygon, Compound, SushiSwap, Curve, Synthetix, Dai, Polkadot

Fees

0% CAD funding
0% CAD withdrawal fees
0% to 2.5% Spread
0.02 fixed fee for LTC withdrawal
Crypto withdrawal fees to cover mining costs

0% CAD funding
0% CAD withdrawal
0% crypto deposit/withdrawals (up to $5 network fee waived)
No commissions or trading fees
0.40% to 0.72% spread

Pros

No CAD deposit and withdrawal fees
Beginner-friendly
Crypto education hub on the website
Coinberry Pay allows anyone to receive crypto payments
Customers can set up automatic payments

No fees at all
Wide selection of coins available
You can export a T5 statement
Sleek interface
Newton Pro for advanced traders in Beta stage

Cons

Not that many altcoins available
No debit or credit card deposits

Very high spreads
No live chat support
No credit card deposits. Debit must be pre-approved.

Account Limits

$10,000 max daily Interac e-Transfer deposit
$10,000 to $500,000 max wire deposit
$100 to $5,000 Interac e-transfer withdrawal
$10,000 to $500,000 wire transfer withdrawal

$10,000 max daily Interac e-Transfer deposit/withdrawal
$70,000 max weekly Interac e-Transfer deposit/withdrawal
$5,000 electronic funds transfer deposit
$50,000 electronic funds transfer withdrawal
$1M wire transfer deposit/withdrawal
$5M daily trading limit

App

Methods to buy

Interac e-Transfer
Wire transfer

Interac e-Transfer
Wire transfer
Connect bank account

Security

Funds insured for $200m by Gemini Trust Company LLC™
Up to 97% of coins held in cold storage

Daily exchange backups
Third-party custody of assets, mostly offline
Direct bank intergration to reduce fraud

Mobile and Desktop Trading

Both Coinberry’s desktop and mobile apps have an easy-to-navigate interface that’s suitable for beginners. Coinberry’s iOS app has a 4.4-star rating with 4.4k reviews. Its Android app has a 3.3-star rating with 900 reviews.

Newton also has a user-friendly interface and a modern, clean look. It’s simple and easy to use. Its iOS app has a rating of 4.4 stars with 5.6k reviews, and its Android app has a rating of 2.8 stars with 800 reviews.

Coinberry

Coinberry desktop interface

Order preview with Coinberry

Coinberry app interface

Coinberry app interface while trading

Newton

Newton has a user-friendly interface and a modern, clean look. It’s simple and easy to use.

Newton’s overall design is clean and modern. They also usual casual and friendly language. It doesn’t seem to take itself too seriously, which is refreshing. At first glance, Newton seems user-friendly and fairly simple.

Its iOS app has a rating of 4.4 stars with 5.6k reviews, and its Android app has a rating of 2.8 stars with 800 reviews.

Newton desktop interface

Market order with Newton

Newton app interface

Newton app interface while trading

Security Compliance

Coinberry has a $200M insurance policy with Gemini Trust Company LLC™. Coinberry also states on its website that it is backed by a “financial insurance bond” which covers any unethical acts from Coinberry employees.

Newton does daily backups to minimize risk and states on its website that customer data is stored in Canada. They also perform daily site backups, have offline third-party storage for digital assets, and they allow their customers to directly connect their bank account to reduce fraud.

Coinberry and Newton are secure exchanges. They both require new customers to provide government-issued identification and be verified before they can trade. Coinberry keeps up to 97% of its coins in cold storage, while Newton says it keeps “most” of its assets offline, held by a third-party custodian called Balance. Newton does daily backups to minimize risk and states on its website that customer data is stored in Canada.

Regulatory Compliance

Coinberry is fully regulated in Canada. The exchange is registered with FINTRAC and is PIPEDA-compliant.

Newton is fully compliant with FINTRAC regulations in Canada.

Coinberry and Newton are both fully regulated in Canada. The exchanges are registered with FINTRAC and are PIPEDA-compliant. Coinberry has a $200M insurance policy with Gemini Trust Company LLC™. Coinberry also states on its website that it is backed by a “financial insurance bond” which covers any unethical acts from Coinberry employees.

Customer support

Coinberry has FAQs and knowledge centre on their website. Customers can message the support team either online via their support pages or through email.

Newton has FAQs and a knowledge center on the website. Customers can message the support teams either online via their support pages or through email. Newton does not have a phone and live support.

Coinberry and Newton have FAQs and knowledge centres on their websites. Customers can message the support teams either online via their support pages or through email. Neither exchange offers phone support, but Coinberry has live chat available.

Conclusion

Both Coinberry and Newton offer Canadians a fast, simple, and secure way to buy cryptocurrency in Canada. Coinberry offers peace of mind with 97% of its digital assets held in cold storage and its $200M insurance policy. However, we think Newton is the winner here because it offers a wide selection of coins and absolutely no fees. Newton will soon be suitable for experienced traders as well. Their Pro tool, offering advanced order types live charting, and more, will be released in the near future, but you can request access now. If you’re looking for the cheapest and simplest way to purchase the most popular coins, Newton is the better choice.

On top of these two, we would recommend Coinsmart for a number of reasons. Why? Check on our Coinsmart review.

Author

Oleg Galeev

Cryptocurrency Specialist

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.