Bitbuy and Newton are some of the best crypto exchanges in Canada that offer top crypto trading apps and web interfaces.
Bitbuy offers basic and advanced trading features to allow investors to trade about 40 cryptocurrencies with transparent and competitive fees. In contrast, Newton offers a basic interface where Canadians can trade 60+ crypto coins commission-free.
Which one should you choose?
In this Bitbuy vs Newton article, we compare their top features, supported cryptocurrencies, trading fees, pros and cons, and more, so you can decide wisely between them.
What is Bitbuy?
Bitbuy is one of the best crypto exchanges in Canada that allows both newbies and experienced traders to trade about 40 cryptocurrencies at low, transparent fees.
It has been in the crypto game since 2016 and is a trusted, secure platform that has served 900,000+ Canadians, with over $7 billion in digital assets traded on the platform.
The Bitbuy platform is accessible on all devices and offers basic and advanced trading interfaces to meet different traders’ needs.
Read our detailed Bitbuy review for more information.
Bitbuy Top Features
- Supports multiple cryptocurrencies
- Offers instant account verification and Express verification to get your account set up in minutes
- Fund your Bitbuy wallet and buy crypto with bank transfer or Interac e-Transfer with near-instant deposits
- Bitbuy Express for beginners to buy crypto with a single click
- Bitbuy Pro offers advanced trading features and tools to pro traders
- OTC desk to execute high-volume trades
- Top security with 99% cold storage and 2FA to protect your account
- Bitbuy app for iOS and Android to trade on the go
- Bitbuy API to carry out automated, high-frequency trades
- Trading fees range from 0% to 2%
Pros and Cons of Bitbuy
Pros: Bitbuy offers basic and advanced trading interfaces, hence great for both newbies and seasoned traders. It also offers staking and OTC trading.
Cons: Only Canadians can use the platform, and it only supports CAD as fiat. Trading fees can be as high as 2%.
Is Bitbuy Safe?
Bitbuy is a safe and legitimate crypto exchange. It’s a FINTRAC-registered MSB approved by the OSC to offer crypto services in Canada.
95% of digital assets are held securely offline in cold storage, and Bitbuy login employs 2FA to protect your account from unauthorized access.
What is Newton?
Newton is a Toronto-based crypto exchange that was founded in 2018.
It puts itself forward as a trusted, low-cost crypto trading app for Canadians to trade about 70+ cryptocurrencies commission-free and with no extra deposit/withdrawal fees.
Plus, Newton covers network fees up to CAD 5 when transferring your crypto assets to and from your Newton wallet so that, in the end, you got to keep most of your crypto.
Newton offers instant account verification, and it only takes minutes to create an account, fund it, and start trading.
Newton
Trade several popular coins
Excellent crypto broker for newbies
Up to 2.20% trading fee
Get a $25 bonus when you trade $100
Newton Top Features
- Offers instant account verification via automatic identity check
- Supports 70+ cryptocurrencies, one of the widest crypto selections among Canadian exchanges
- Offers fee-free trading with no extra deposit/withdrawal fees
- Multiple ways to fund your account, including Interac e-Transfer, Bank wire, bank transfers, and crypto deposits from an external wallet
- An intuitive, well-rated iOS and Android crypto trading app to trade and track your portfolio on the go
- Top security via third-party custody of digital assets, direct bank integrations, daily off-site backups, and more
- Newton referral program to earn up to $25 CAD by sharing your Newton referral code with friends.
- Trading fees are up to 2.20%
Pros and Cons of Newton
Pros: Newton has a wide selection of 70+ crypto coins, a beginner-friendly interface, zero-trading commission, and no extra deposit/withdrawal fees.
Cons: Where Newton falls is that it doesn’t offer advanced trading features, charting tools, and order types; hence not great for seasoned traders.
And though you don’t pay an extra dime to trade, you’ll incur in-build Newton spread fees, which may run up to 2.20%.
Is Newton Safe?
Yes, Newton is a safe crypto exchange and a FINTRAC-registered money service business (MSB) that’s PIPEDA-compliant.
To keep digital assets secure, Newton partners with Balance, a third-party custodian to store crypto assets securely offline in cold storage. Other security measures include 2FA, direct bank integration, daily off-site backup, and more.
Bitbuy vs Newton: Trading Fees
On Newton, you incur an in-built price spread, ranging from 0.5% to about 2.20% when you buy/sell crypto on the platform.
Bitbuy uses a flat fee structure, and you pay up to 2%.
Bitbuy vs Newton: Best for
Newton offers a beginner-friendly web interface and mobile app and is great for beginners looking for an easy-to-use crypto exchange to trade a wide selection of coins with a single click.
Bitbuy offers both basic and advanced trading features and works well for both beginners and seasoned traders looking to invest in the world’s most popular cryptocurrencies.
Bitbuy vs Newton Comparison
| Feature | Bitbuy | Newton |
| Supported coins | 35+ | 70+ |
| Instant account verification | Yes | Yes |
| Funding methods | Interac e-Transfer, Bank Wire, crypto deposits | Interac e-Transfer, bank wire, bank account transfers, and crypto deposits. |
| Trading fees | 0-2% | Newton spreads of up to 2.2%% |
| Deposit/withdrawal fees | 0.5% to 1.5% | $0 |
| Trading platforms | Basic Web and mobile crypto trading apps | Basic and advanced web and mobile crypto trading apps |
| Sign up bonus | Deposit an initial $250 to get a $50 bonus | Trade $100 or more to earn a $25 bonus. |
Related:
- Best Crypto Exchanges In Ontario
- Crypto.Com Canada Review
- Shakepay Vs Coinbase
- CoinSmart vs Bitbuy Comparison
- Shakepay vs Coinberry Comparison
- CoinSmart vs Wealthsimple Crypto
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.
