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Newton vs. Crypto.com: What Works Better For Canadians in 2024

Oleg Galeev

Last updated December 27, 2023

This comparison pits two popular cryptocurrency exchanges, Newton and Crypto.com, against each other. Both platforms offer a range of unique services and features to their users, but they differ in terms of their mobile and desktop trading experiences, security protocols, compliance with Canadian laws, and customer support.

Description

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

Crypto.com is a crypto exchange that is gaining popularity in Canada. It offers its own coin (CRO), staking, lending, NFTs, and pre-paid Visa crypto cards offering cashback. Crypto.com offers everything in one place and is suitable for Canadians looking for an easy way to buy crypto.

Coins

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

150+

Fees

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

Free deposits
Variable Withdrawal fees
Send crypto to other crypto.com users for free
0.04 to 0.4% maker/taker fees

Pros

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

Wide range of coins available
Suitable for beginners and pro traders
Interac e-Transfer available
Deposits take up to one day to process
Visa cards
Staking
NFT marketplace
20+ fiat currencies supported
Free deposits

Cons

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

No crypto education articles
Poor customer service

Account Limits

$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

Low

App

Methods to buy

Interac e-Transfer
Wire transfer
Connect bank account

Interac e-Transfer

Security

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

100% coins held in cold storage
Ledger Vault partnership
Multi-factor authentication
Mandatory whitelisting of withdrawal addresses

Mobile and Desktop Trading

Newton provides a streamlined app experience rated 4.6 on the App Store. Its desktop platform offers a simple and intuitive interface designed for fast, straightforward trading. Crypto.com also presents a robust mobile and desktop platform. Its mobile app stands at a 4.5 rating on the Apple App Store and a 4.5-star rating on Google Play. While the mobile app caters to all user needs, the Pro desktop exchange is tailored to more advanced traders, offering complex charting and trading tools.

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

Crypto.com

In the crypto.com app, users can buy and sell crypto easily. You can also directly stake or lend your crypto, apply for a crypto.com card, track favourite coins, withdraw to external wallets and more. The app is an all-in-one trading platform that’s user-friendly and suitable for beginners.

The app has a 4.3-star rating from 56,000 reviews on the Apple App Store and a 3.9-star rating from 200,000 reviews on Google Play.

If you’re looking for more advanced tools, you can use crypto.com’s desktop exchange. The exchange offers more charting and order types but the interface can be confusing for beginners. The crypto.com app has everything you need, so you’d only use the Exchange for slightly lower fees or advanced order types.

Advanced Desktop Trade

List of coins

Crypto.com app interface

Crypto.com app interface while trading

Security Compliance

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.

Crypto.com is highly secure crypto exchange. They keep funds in cold storage, offer two-factor authentication to keep accounts secure, encrypt user data, and more.

Crypto.com keeps 100% of users’ funds in cold storage, specifically in a Ledger vault. This percentage is the highest we’ve seen of any crypto exchange, showing crypto.com truly values security. Crypto.com also has $750M in cold storage insurance in case of theft.

Crypto.com also makes its users whitelist all withdrawal addresses via email and users multi-factor authentication - such as FaceID - to

Newton has a strong emphasis on user security. They employ cold storage for cryptocurrencies, conduct regular security audits, and provide two-factor authentication for additional protection. Crypto.com, on the other hand, takes a very rigorous approach to security. They store 100% of customer funds in cold storage and mandate multi-factor authentication, including Face-ID and Touch-ID, phone and email confirmations for all transactions. Both platforms prioritize user safety, but Crypto.com's approach seems more comprehensive.

Regulatory Compliance

Newton is fully compliant with FINTRAC regulations in Canada.

Crypto.com is fully regulated and can be accessed in Canada, USA (except New York), Europe, and other countries around the world.

Newton, being a Canada-based exchange, complies with Canadian laws and regulations, providing an added level of legal security. Crypto.com has also demonstrated commitment to legal compliance, being the first global crypto exchange to comply with regulations from the Ontario Securities Commission (OSC). Both platforms are thus demonstrably committed to adhering to Canadian regulatory standards.

Customer support

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.

The customer support for crypto.com is quite slow. Users like the app, security, and the wide range of coins, but the customer service needs work. Crypto.com does not offer educational resources or a knowledge centre, which is a let down.

Newton's support is considered solid, with the team readily accessible via email. However, their live chat support has limited hours. Crypto.com, while offering a range of services, has been criticized for its customer service, with slower response times and a lack of extensive educational resources.

Conclusion

While both Newton and Crypto.com have much to offer in terms of services, security, and compliance, Newton edges out as the winner in this comparison. Its Canadian roots, user-friendly platform, and strong customer support cater to the needs of Canadian users effectively. Although Crypto.com's security measures are noteworthy, its weaker customer support puts it at a slight disadvantage.

We recommend choosing Newton over Crypto.com for your cryptocurrency trading needs. By opting for Newton through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Newton nor Crypto.com meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.

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.