Netcoins vs Newton 2022: Compare Crypto Exchanges in Canada

Photo of author

by Enoch Omololu, MSc (Econ)

Published on

Advertiser Disclosure

Netcoins and Newton are among the best crypto exchanges in Canada that offer easy-to-use, beginner-friendly interfaces to accommodate crypto newbies.

Netcoins allows users to trade about 20+ cryptocurrencies with flat fees, while Newton supports trading for over 70+ cryptocurrencies.

This Netcoins vs Newton comparison compares their top features, pros & cons, sign up bonuses, and more.

Netcoins

Netcoins is a FINTRAC-registered cryptocurrency brokerage based in Vancouver. It was founded in 2014 and is owned by BIGG Digital Assets.

Read the full Netcoins review or sign up to get a $60 bonus after trading $100 worth of coins.

Newton

Newton is a cryptocurrency brokerage based in Toronto. It was founded in 2018 and is a FINTRAC-registered Money Service Business (MSB) that’s PIPEDA-compliant.

Read the full Newton review or create a Newton account to get a $25 sign-up bonus after trading $100 worth of crypto.

Netcoins vs Newton: Top features compared

KYC and account funding options

Both Netcoins and Newton impose mandatory KYC, and all users must disclose their identity to trade on these platforms.

The good thing is that both crypto trading platforms offer instant verification by running an automatic identity check with the credit bureaus, and it only takes minutes to get verified.

If the automatic check fails, you’ll be required to upload photos of your identity document, a selfie photo, and proof of address to get verified manually.

Once your account is set up and verified, you can fund your Netcoins or Newton wallet via Interac e-Transfer, bank wire, and crypto deposits.

Both platforms offer free deposits, so you don’t have to worry about deposit fees.

Availability

Both Netcoins and Newton are Canada-based cryptocurrency brokerages and are only licensed to offer crypto services within Canada. Thus, only Canadian residents can access and use these two platforms.

Canadians in other countries are better off with CoinSmart, which is available in about 15 countries, or Binance and Coinbase, which are available in many countries.

Coins supported

Newton offers a wider selection of cryptocurrencies than Netcoins. While Netcoins offers 20+ crypto coins, Newton’s crypto-list consists of nearly 70+ coins and tokens.

So if you are looking for more coins to buy, Newton will be a top choice.

Crypto services offered

Both Netcoins and Newton are cryptocurrency brokerages. Since they are not fully-fledged crypto trading platforms, they only support basic buy/sell features and don’t offer other crypto services or advanced trading features/charting tools.

If you’re looking for DeFi services, staking, and other ways to monetize your crypto, you may want to look into Binance or Crypto.com.

Trading fees

Netcoins uses a flat fee schedule, while Newton offers commission-free trading with in-build spreads. Both platforms also offer free deposits/withdrawals for fiat.

Netcoins fees

Netcoins charge a flat fee of 0.5% on trades. Fiat deposits/withdrawals are free, so you can keep a large chunk of your gains.

Newton fees

Newton offers fee-free trading with no extra deposit/withdrawal fees.

To make money, there’s an in-built Newton spread of 0.5%-0.7% which is applied to the bid-ask price when you buy/sell crypto on the platform.

Crypto trading platforms

Both Netcoins and Newton offer basic web and mobile trading platforms.

The Netcoins web interface offers a buy/sell feature, with limit orders to set your trades to execute at a certain price, and price alerts to keep you in the loop with price movements.

There’s also the Netcoins mobile app to keep you on top of the markets and buy/sell crypto, check balances, and make deposits/withdrawals while on the go.

Newton offers three trading platforms, namely:

  • The standard newton platform: Trade commission-free at competitive prices and spreads of 0.5%-0.7%
  • Newton Pro: Allows institutional and active traders to access 100+ pairs at competitive spreads of 0.1%.
  • Newton mobile app: iOS/Android mobile app to trade and monitor your portfolio on the go.

Crypto cards

Netcoins offers a Prepaid Visa Card via Netcoins Pay that allows you to spend your crypto anywhere Visa, Apple Pay, Google Pay, or Samsung Pay is accepted.

The Netcoins Visa card earns you 3% back in Bitcoin for the first 3 months, and 1% back afterward.

Newton doesn’t offer a crypto visa card.

Netcoins vs Newton

Is Netcoins Safe?

Netcoins’ security measures and how it protects user funds aren’t well articulated on its website.

That said, it’s a fully registered and regulated MSB in Canada that imposes mandatory KYC to ensure transparency.

It also uses forensic tools like QLUE and BitRank for data encryption, and you have the confidence of investing with a brokerage that’s owned by BIGG Digital Assets, a publicly traded company.

Is Newton Safe?

Newton is a safe and legit cryptocurrency brokerage with several security features in place to protect users’ funds, including:

  • Offline storage of digital assets with Balance
  • 2FA to ensure safe login
  • Daily off-site backups
  • Direct to bank integration to reduce fraud

Netcoins vs Newton: Pros & Cons

Pros: Both Newton and Netcoins offer easy-to-use, beginner-friendly interfaces and free deposits/withdrawals. That said, Newton has a bigger lineup of 70+ coins and clear security features.

Cons:

Newton’s downside is that it charges expensive inbuilt spreads of 0.5%-0.7%. Netcoins fees of 0.5% are also high, plus its security features aren’t very clear.

Both platforms don’t offer advanced trading features/charting tools and are only available in Canada.

Netcoins vs Newton: Sign up bonus

If you create a Netcoins account and trade $100+ worth of crypto, you get a $60 reward.

If you create a Newton account and trade $100+ worth of crypto, you get a $25 sign-up bonus.

Netcoins vs Newton: Table Breakdown

FeatureNetcoinsNewton
Coins supported20+70+
Verification processInstant & automaticInstant & automatic
Funding optionsInterac e-Transfer, bank wire, crypto depositsBank wire, Interac e-Transfer, pre-authorized debit, crypto deposits.
Trading fees0.5% flat feeSpreads of 0.5%-0.7%
Deposit/withdrawal feesFreeFree
AvailabilityOnly in CanadaOnly in Canada
SecurityNot clear2FA, Bank integrations, cold storage, daily off-site backups
Sign up bonus$60 if you trade $100+$25 if you trade $100+
Best forBeginnersBeginners

Related: Binance vs Coinbase.

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.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Access to several popular coins.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Easily deposit and withdraw both fiat and crypto.

A publicly traded company on the Canadian NEO exchange.

Retirement 101 eBook - 3D

Author

Photo of author
Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get a $50 bonus when you open a new account with Canada's top crypto exchange!
* Terms & Conditions Apply. Deposit a min. of $200 in your new Crypto account. Limited time offer.
0 Shares
Share
Pin
Tweet
WhatsApp
Reddit