Cryptocurrency

Newton Crypto Review: Crypto Marketplace for Canadians

Dustin Walper laid the foundation of the Canada-based Newton trade exchange in 2018 to accommodate the financing needs of investors. Buyers have been dealing with bitcoin exchanges that provide superior service in increasing quantities in recent years. Regardless of the fact that these organizations provide a diverse range of services, it might be problematic for consumers to locate the finest virtual currency marketplace.  

Some prominently known bitcoin exchanges called Newton began doing business in Canada. This firm’s reputation and growth have been tremendous since its establishment. It works hard to continually offer advanced functionality and currencies. The user experience for Newton has been purposefully designed and is simple to utilize.

The marketplace was specifically made for Canadian users and is only available to them for now. Though it has its operations spread in one country only, it still accumulated over 100,000 active users.

Newton Crypto Review

Newton, named after the renowned scientist Isaac Newton, commenced production in Canada under the supervision of founder Dustin Walper. The firm’s primary objective is to concentrate on the local cryptocurrency marketplace, and it currently boasts well over 100,000 members. 

This virtual currency exchange declares that they do not enforce costs and only specializes in the Canadian market. Third-party safekeeping, trading activity, rapid authentication, and affordable premiums are just a few of the characteristics that set them distinct from the opposition.

The marketplace additionally offers educational archiving, online banking incorporation, regular off-site recoveries, and programs for virtual currency.

Quick Facts

Official Website https://www.newton.co/
Headquarters Toronto, Ontario, Canada
Released In 2018
Quantity of Currencies Available More than 25
Accepted FIAT Currency Canadian Dollar
Minimum Deposit None
Deposit Fee Nil
Withdrawal Fee Nil
Transaction Fee Nil
Available for Users In Canada Only
Trading Pairs Yes

 Working Method

After reading the Newton crypto review, we thought it is important for people to be notified that digital currencies bought from other marketplaces are kept in their mobile wallets; nevertheless, this interface allows people to navigate their assets to the network’s top-performing blockchain wallet.

Only CAD is supported by the Newton Exchange Platform, thus if a customer wanted to employ a cryptocurrency, they must first exchange it into Canadian Dollars by authenticating their identification. They ought to integrate their bank account and brokerage account. 

The owner must visit the Newton webpage, click the register button, and then browse to the next webpage in order to get into the Newton marketplace. 

The client has two options: they either sign in with their current account or make a new one. The visitor will then be requested for their email address and password.

Characteristics of Crypto Exchange

  • After researching for the Newton crypto review, we got to know that it puts a great deal of emphasis on enabling clients to purchase virtual currencies for far less cost. This website has a wonderful graphical interface, which inhibits customers from reaping the benefits of certain capabilities like limit orders, pro resources, analysis instruments, repeating transactions, and many more.
  • Additionally, this Canadian trading platform offers users to buy Bitcoins and other altcoins at the most reasonable pricing.
  • According to our Newton crypto review, this program gives internet, Android, and iOS applications so individuals may deal from both their desktop and handheld device. The mobile app is simple when used, has a relatively low number of pages, and infographics with a dark mode.
  • When contrasted to other Canadian crypto exchanges, as per our Newton crypto review, the firm provides a comprehensive range of cryptos. Additionally, it provides the cheapest margins offered on the site and doesn’t enforce any financing costs.
  • Limit orders, transference, trading volume, and other enhanced tools are offered by Newton Exchange’s Newton Pro beta and are expected to result in reduced margins and greater fluidity.
  • All authenticated customers have access to Newton’s referral program, which is available to everybody. Additionally, the system can monitor recommendations and income by accessing the special URL provided in the setup. Currently, when a participant’s recommendation performs a trade for $100, the subscriber, they receive a $25-making charge.

Benefits and Adverse Aspects

Every platform and commodity is built upon its pros and cons. Newton crypto exchange marketplace is standing in the same situation and it is one of the reasons why it is highly recommended by people. Let’s see which of these aspects are beneficial for our traders and which might set them back or restrict them from openly trading.

The Benefits

  • This cryptocurrency exchange marketplace has a wide collection of digital currencies from which users can choose and trade. Their collection is far wider and better than other marketplaces in Canada.
  • It has a superb UI which allows easy browsing throughout the website.
  • It has an extremely affordable fee structure and requires a network fee of 5 CAD.
  • The platform constantly upgrades and adds new features and options.
  • It has the option to invest in lower spreads which have high liquidity
  • The interface makes it user-friendly

The Adverse Effects

  • The authentication process for the digital currency requires significant time which we learned after researching for the Newton crypto review.
  • The audience is limited to just Canadian citizens and permanent residents
  • If the fiat payments are not in the clear, you cannot perform trade on the platform

Level of Supervision in the Exchange Market

Account information for the platform is handled in Canada and adheres to PIPEDA. Furthermore, the exchange employs cold storage to preserve the bitcoin investments of its members.

The cryptocurrency exchange has decided to team up with PLAID, a prominent Canadian information assurance business that maintains evidence relating to KYC verification. Moreover, it offers bank transfer connectivity with encrypted data processing.

Among the most crucial characteristics is that FINTRAC oversees the exchange marketplace. In addition, the platform uses institutional-grade infrastructure to keep users’ cryptocurrency safe as well as perform regular off-site updates on their webpage.

Exchange Trading Fee

Every trade involves two participants: the originator, whose demand is already on the trading system before the exchange, and the taker. Thus, the directive being performed is “made” by the maker. The consumer, who puts in the order that corresponds to (or “takes”) the operator’s demand, is the opposite participant. 

The maker-taker approach often promotes liquidity in the market by delivering a charge concession to the providers of that volatility.

At Newton, you only spend the so-called margin instead of taker or maker charges. At transactions of up to three Bitcoins, the margin is typically 0.50% to 0.70% beyond the price.

Withdrawal Fee

The withdrawal cost is an additional price to be taken into consideration when deciding on your network. The withdrawal prices vary from virtual currency to virtual currency and are typically fixed (independent of the volume of digital asset entities retrieved). 

The normal business cost for withdrawing bitcoins is 0.000812 BTC. There are no withdrawal expenses associated with them at Newton Exchange. However, while transferring cryptocurrency from the system to another site, you should still spend the cost of the system. 

The connection price changes throughout the day and is reliant on the data traffic for the appropriate cryptocurrency, but it is typically far less than the typical withdrawal price in the industry ecosystem.

FAQs

1. What Cryptocurrencies Does Newton Crypto Offer?

This Canadian exchange marketplace offers over 70 prominent crypto coins, some of which include Ethereum, Bitcoin, Uniswap, Cardano, Stellar, Shiba Inu, Dogecoin, Solana, Ripple, and Litecoin.

2. Can Paper Trading Be Done on a Demo Account?

Unfortunately, no. There is no demo account available for paper trading so if you are a beginner, you will have to conduct proper research or try any other platform for that purpose.

3. Does the Platform Provides a Wallet?

Yes, the platform does offer a hot wallet under the name Netwon wallet through which you can readily save your crypto assets. But, it is always recommended to transfer a percentage of your currency to a cold wallet in order to save it from any threat.

4. Is the Newton Exchange Marketplace Insured?

The Balance’s cryptocurrency crime policy assures that all of your assets stored on the Newton exchange are safe and sound. You can also audit the currency on your own by the wallet balances available on the blockchain whenever you want to. If you create an audit snapshot, Newton will return back every quarter if it gets lost or burned away.

5. How Will My Account be Funded?

You will have the option to fund your account through the following three options:

  • Interac E-Transfers
  • Cryptocurrency from an External Wallet
  • Wire Transfer from a prominent bank in Canada

You can find more details about the funding in the FAQ section of the official website.

6. How Does the Platform Make Money?

Newton earns money every time you purchase or sell a cryptocurrency asset by adding an increased rate on the cost you are originally paying.

Ending Statement

Though the exchange marketplace is a bit restricted, due to its access only being available to Canadian citizens, it is a superb marketplace and you can also agree with that after reading our Newton crypto review. You can find a plethora of cryptocurrencies here, have to pay near zero transaction and withdrawal fees and have access to its educational material.

Being available in a single country is a bit of a blessing in disguise because the platform can work according to the financial conditions of the country. If it were available internationally, the updates and costs might have gone higher than usual. The transaction and processing rate would have been slow and it would require days to set up an account to authenticate your details.

So, seeing its restriction shouldn’t be a drawback. There are a multitude of online exchanges where you may simply buy cryptocurrencies if you don’t live in Canada. Let the Canadians enjoy their treat in peace.