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.
When comparing Newton to Crypto.com, one notable advantage is the Recurring Buys feature. This allows users to automate crypto purchases at regular intervals, making it easier to invest consistently over time. Additionally, Newton has partnered with Koinly, a leading crypto tax platform, simplifying tax reporting with seamless integration. These features are especially beneficial for users looking for a hands-off approach to crypto investing and tax management, giving Newton a distinct edge over many competitors that don’t offer these conveniences.
When comparing Crypto.com to other exchanges, it's essential to note that Crypto.com stands out by offering over 350 cryptocurrencies, making it one of the most comprehensive platforms available. It also provides a Visa card with customizable cashback rates and different card types to suit user preferences. Additionally, Crypto.com’s robust DeFi services and competitive staking options, with regularly updated APY rates, make it a versatile choice for investors. Furthermore, its security certifications, such as SOC2 and ISO standards, further enhance its appeal by ensuring a high level of safety and trustworthiness.
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.