Newton and NDAX offer some of the best crypto trading apps and web-based interfaces in Canada.
Newton is reputed as a trusted, commission-free platform where beginners can buy, sell, and trade one of the widest selections of cryptocurrencies in Canada.
NDAX offers both basic and advanced trading features to allow beginners and pro traders to buy and sell crypto with flat competitive fees.
This Newton vs NDAX comparison takes you through their top features, supported cryptocurrencies, trading fees, pros & cons, and more.
You also learn how to get a $50 bonus when you open an account with CoinSmart.
What is Newton?
Founded in 2018, Newton is one of the best crypto exchanges in Canada for beginners that offers commission-free trading.
It’s a FINTRAC-registered Money Service Business (MSB) that’s PIPEDA-compliant.
The Toronto-based exchange offers instant account verification and allows users to buy 70+ coins with CAD at no extra deposit/withdrawal fees. It may even cover network fees up to $5 CAD.
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 a simple, easy-to-use interface for beginners to buy crypto instantly
- Automatic, instant account verification so you can start trading in minutes
- Offers commission-free trading with no extra deposit/withdrawal fees
- Supports 70+ coins, one of the widest selections in Canada
- Newton is a safe and legit FINTRAC-registered MSB that’s PIPEDA-compliant
- Newton iOS and Android app to trade on the go
- Multiple ways to fund your Newton wallet, including Interac e-Transfer, wire transfer, bank account transfer, and crypto deposits.
- Newton Pro, where institutions and active traders can trade 100+ pairs at competitive spreads.
- Newton referral program where users can earn up to $25 per referral
Newton Pros & Cons
Pros: Newton offers commission-free trading, free deposits/withdrawals, and a beginner-friendly interface to allow crypto newbies to trade a wide selection of 70+ coins.
Cons: Newton doesn’t offer advanced trading features or charting to experienced traders. Although you don’t pay any extra Newton fees, you’ll incur an in-built Newton spread that may run up to 1%.
Is Newton Safe?
Yes, Newton is a safe and legit crypto exchange. First, Newton is a FINTRAC-registered, PIPEDA-compliant MSB licensed to offer crypto services in Canada.
Again, the platform does its best to offer institutional-grade storage of your digital assets via daily offsite backups, 2-factor authentication, Cold storage of digital assets with Balance, and direct bank integrations to minimize fraud.
What is NDAX?
Founded in 2018, NDAX is one of the best crypto exchanges in Canada that’s based in Calgary.
The National Digital Asset Exchange (NDAX) offers basic and advanced trading interfaces, features, and tools to enable beginners and experienced traders to buy, sell, stake, and trade 31 cryptocurrencies.
Institutions and large-volume traders will also find the platform useful via NDAX Wealth, an OTC service with a deep liquidity pool to fill large orders.
Read the full NDAX review.
NDAX Top Features
- Offers a wide selection of 30+ cryptocurrencies
- Easy-to-use platform with basic and advanced trading interfaces to cater to both newbies and pro traders
- NDAX Wealth offers OTC services where high-volume traders can fill large orders.
- Multiple funding methods, including Interac e-Transfer, bank wire, bank draft, and crypto deposits
- Same-day free deposits and 0-1 business day withdrawal settlements
- Offers transparent, competitive flat fees of 0.2% on trades
- NDAX staking to hold and earn interest on your digital assets
- A majority of assets are held offline in a multi-signature wallet, with insurance protection
- NDAX Learn, where you can learn about various digital assets offered on the platform
- 24/7 live customer support
NDAX Pros & Cons
Pros: NDAX has competitive flat fees, free crypto & fiat deposits, and fast withdrawals.
Cons: Only Canadians can use the platform. Plus, NDAX only supports CAD as fiat and charges a flat fiat withdrawal fee of $4.99.
Is NDAX safe?
Yes, NDAX is a safe crypto exchange that’s FINTRAC-registered to offer money services in Canada. It also adheres to Canada’s top security standards and banking regulations.
To keep assets safe, NDAX sign-in uses 2FA to protect user wallets, offline cold storage of most assets, and insurance protection of assets in hot and cold storage.
Newton vs NDAX: Supported Cryptocurrencies
Newton supports a wider selection of 70+ coins vs NDAX’s 30+ digital assets.
The crypto list for NDAX consists of Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Ripple, Tether, Polkadot, Aave, Stellar, The Graph, Polygon, USD Coin, Terra, Chainlink, Decentrland, Uniswap, Hedera, Fantom, EOS, Axie Infinity, and Compound.
Newton supports most of the popular cryptocurrencies and others like Enjin Coin, Balancer, Dash, Kyber Network, Zcash, 1inch, Ren, Amp, Tezos, Chiliz, Ankr, Storj, Elrond, My Neighbor Alice, and more.
Newton vs NDAX: Trading Fees
Newton offers commission-free trading with no extra deposit/withdrawal fees. Instead, Newton fees are built into the price, and you’ll incur a newton spread of up to 2.20% applied to the bid-ask price.
NDAX fees feature a simple, transparent, and competitive fee structure of 0.20% on trades. Crypto and fiat deposits are free, but there’s an NDAX fiat withdrawal fee of $4.99, and crypto withdrawal fees vary by coin.
Newton vs NDAX: Best For
Newton offers a basic easy-to-use interface and is great for crypto beginners.
NDAX offers basic and advanced trading features, hence best for both newbies and pro traders.
$50 Crypto Exchange Offer
Open a CoinSmart account and get a $50 bonus after depositing $200 or more. CoinSmart is one of the best crypto exchanges in Canada.
CoinSmart Crypto Exchange
Top crypto exchange in Canada
Great for new & advanced traders
0.20% trading fee
Get a $50 bonus when you deposit $200
Newton vs NDAX: Table Breakdown
|Support coins/fiat||70+; only CAD as fiat||30+; only CAD as fiat|
|Funding options||Interac e-Transfer, bank wire, crypto||Interac e-Transfer, bank wire, bank draft, crypto deposits|
|Trading fees||Up to 2.20% Newton fee spread||0.2% on trades|
|Deposit/withdrawal fees||Free deposits/withdrawals||$4.99 flat withdrawal fee|
|Trading platforms||Basic web-based and mobile crypto trading app||Basic and advanced web-based and mobile crypto trading app|
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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.