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.
When comparing Newton to Netcoins, 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.
Netcoins stands out with its 24/7 uninterrupted trading availability, ensuring users can access the market anytime without delays. This is particularly useful compared to other exchanges that may experience downtime or maintenance. Additionally, Netcoins offers limit orders, which give traders more control over their buy/sell strategies—something not all platforms provide. Personalized price alerts are another feature that keeps users ahead of market shifts, offering a competitive edge when compared to exchanges with fewer notification options.
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.
