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Newton vs. Netcoins: What Works Better For Canadians in 2024

Oleg Galeev

Last updated December 27, 2023

Newton and Netcoins are two notable cryptocurrency exchanges available for Canadians. Newton offers a wide variety of cryptocurrencies and features fee-free trading, whereas Netcoins, while having fewer available cryptocurrencies, excels in terms of user experience and customer service.

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.

Netcoins is a Canadian crypto exchange owned by a publicly-traded company called Bigg Digital Assets. Netcoins was founded by Mitchell Demeter who created the world’s first Bitcoin ATM in 2013.

Coins

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

Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, USDC, Algorand, XRP, Avalanche, Ethereum Classic, SHIB, DOGE, MATIC, AXS, Cardano, Solana, Polkadot

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
Free fiat withdrawals
0.5% trading 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

Free fiat and crypto deposits
Free fiat withdrawals
Interac e-Transfer available
Phone support
Instant verification
Licenced and regulated in Canada
Educational resources available
Great customer service

Cons

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

Few cryptocurrencies available
No credit/debit card purchases
CAD only
High trading fees

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

$10 min for Interac e-Transfer
$500 min for wire transfer
$50 min for online bill payment

App

Methods to buy

Interac e-Transfer
Wire transfer
Connect bank account

Interac e-Transfer
Bank wire
Online bill payment

Security

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

2FA available
Registered with FINTRAC

Mobile and Desktop Trading

Both Newton and Netcoins have developed easy-to-use apps for mobile trading, available on both the App Store and Google Play. Netcoins holds a higher rating of 4.0 stars on the Apple App Store, compared to Newton's 4.6 stars. However, Newton's app is also highly praised by users for its simplicity and functionality. Both platforms also offer desktop trading, with user-friendly interfaces that cater to both beginners and more experienced traders.

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

Netcoins

Netcoins’ trading platform is simple to use with a sidecar offering all you need including options to buy, sell and trade. Your dashboard has two big options to either deposit funds or deposit crypto.

Buying crypto with Netcoins is easy thanks to its simple trade feature.

The Netcoins app has a 4.1-star rating from 171 reviews on the Apple App Store. It has a 3.6-star rating on Google from 127 reviews.

The app is easy to use and beginner-friendly. It is almost an exact copy of the desktop platform but optimized for mobile.

Netcoins Desktop App (trading screen)

Netcoins Desktop App (funding account)

Netcoins Mobile App (balances)

Netcoins Mobile App (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.

Netcoins utilizes the services of Bitrank and QLUE to stay compliant by monitoring wallet addresses and transactions for fraud and connections to criminal enterprises.

Two-factor authentication is available to help keep your account secure.

Both exchanges prioritize the security of their users. Newton uses industry-leading practices like end-to-end encryption, offline cold storage, and 2FA (two-factor authentication). Netcoins, owned by a publicly traded company, is transparent in its operations and utilizes services like BitRank and QLUE for monitoring transactions. Both platforms offer 2FA, but neither provides explicit detail about how customer funds are stored.

Regulatory Compliance

Newton is fully compliant with FINTRAC regulations in Canada.

Netcoins is fully regulated in Canada. It is registered as a Money Services Business (MSB) with FINTRAC. Since Netcoins is also owned by Bigg Digital Assets, a publicly traded company, you can be sure that Netcoins is a safe exchange.

Both Newton and Netcoins are fully compliant with Canadian regulations. Newton is registered as a Money Service Business with FINTRAC, whereas Netcoins is not only registered with FINTRAC but also has a proactive stance towards compliance, utilizing transaction monitoring tools.

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.

Netcoins has excellent customer support with an impressive 85% excellent customer service reviews on Trustpilot with a 4.5-star rating. Netcoins offers email support, live chat and phone support, which is rare for crypto exchanges.

Netcoins stands out in terms of customer support. It offers 24/7 live chat support and even has phone support, which is a rarity among crypto exchanges. Newton also offers support, but it primarily operates through email.

Conclusion

Newton and Netcoins both bring different strengths to the table. Newton provides a wider variety of cryptocurrencies and fee-free trading, making it a good choice for those seeking variety and cost-effectiveness. On the other hand, Netcoins stands out with its excellent customer support and a user-friendly platform, making it an ideal choice for beginners or those who value a smooth user experience. However, overall, Newton slightly edges out Netcoins due to its fee-free trading policy and wider cryptocurrency selection. Despite this, both exchanges provide valuable services, and the choice between the two will largely depend on individual user preferences.

We recommend choosing Newton over Netcoins 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 Netcoins 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.