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Newton vs. Shakepay

To find the best platforms, we tested over 50 apps with Canadian accounts. Read our reviews to find the best crypto exchanges in the country in 2022.

Updated September 2022   |  Affiliate Disclosure

There are many crypto exchanges in Canada but Shakepay and Newton have become some of the most popular choices.

In this review, we did a deep dive so you can compare fees, features, funding methods, coins offered and more. We collected over 60 variables so read on to find out which platform is best for you.

The Bottom Line 

If you want to save money, Newton is cheaper overall and gives you more altcoins. Newton has 70+ coins, a 0.69% total purchase fee to buy Bitcoin and a 1.34% spread. Shakepay has 2 coins, a total fee of 1.03% and a 2.26% spread. 

Shakepay is still great if you want free ETH withdrawals, a Bitcoin Visa Card (1% cash back) or to set up recurring purchases. Overall, both platforms are beginner-friendly, low-cost, and popular choices for Canadians.

Summary:

  • Newton has 70+ cryptocurrencies versus 2 on Shakepay
  • Newton is cheaper overall (0.69% total purchase fee versus 1.03%)
  • Shakepay has a Bitcoin Visa card with unlimited 1% cash back
  • Both platforms are beginner friendly however, Shakepay is easier to use
  • Neither platforms offer advanced trading
Shakepay

About Shakepay

Shakpay is the best beginner crypto exchange in Canada. It's very easy to use, they offer 2 coins (BTC and ETH), a Bitcoin Visa card, free deposit and withdrawals and fair spreads.

Pros & Cons

  • Best platform for beginners. No experience required
  • Free BTC and ETH withdrawals and free CAD deposits/withdrawals
  • Free Bitcoin Visa card gives you 1%-2% cash back on all purchases
  • Earn free Bitcoin daily with ShakingSats (shake your phone for free Bitcoin) 
  • Fast verification (get instantly verified in under 10 minutes)
  • Only has 2 coins (BTC and ETH)
  • No advanced features
  • Higher spreads than Newton
Newton.co

About Newton

Newton is a low-cost, easy-to-use platform with over 70 coins. Its main selling point is low all-around fees, a great user-interface and lots of altcoins for a Canadian platform.

Pros & Cons

  • Low fees all-around: $5 off crypto withdrawal fees, free CAD deposit/withdrawals, zero trading fees, low spreads
  • 0.69% total purchase fee (3rd place out of 18)
  • 70+ coins offered
  • No advanced trading
  • Limited features overall
  • Slow customer support in our experience

Overview

How We Tested

To collect this info, we used real, KYC-verified accounts. We then broke it down into 5 categories: Fees, Features, Deposit & Withdrawals, Security and Ease of Use.

RankFi tracks dozens of crypto products. Lean more about our methodology here.

Coins Offered

2 (BTC and ETH)

70+

Total BTC Purchase Fee

1.03%

0.69%

Total BTC Selling Fee

1.21%

0.64%

CAD Trading Pairs?

CAD Deposit Fees

Free

Free

Interac e-Transfer?

Beginner Friendly

Advanced Trading

🚫

🚫

BTC Withdrawal Fee

0 BTC (Free)

$5 off network fees (usually free)

Headquarters

Montreal, Canada

Toronto, Canada

💰 Promotion

$30 free when you trade $100

$25 free when you trade $100

Sign Up

Features

Best Features Overall

✅ Winner

Cell

Number of Features

5-10

<5

Coins

2 (BTC and ETH)

70+

Mobile App

Web App

Beginner Trading

Advanced Trading

🚫

🚫

Staking

🚫

🚫

Lending/Borrowing

🚫

🚫

Other Rewards

🚫

Crypto Credit Card

✅ (Review)

🚫

Margin Trading

🚫

🚫

Futures

🚫

🚫

OTC

🚫

Native Token

🚫

🚫

Affiliate Program

24/7 Support

🚫

🚫

Sign Up

Fees & Spread

More Information

Both platforms were tested on Mar 2, 2022 at the same time and numbers are subject to change.

  • Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Buy Reference Price Difference
  • Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Sell Reference Price Difference

Best Fees Overall

Cell

✅ Winner

*Total BTC Purchase Fee

1.03%

0.69%

*Total BTC Selling Fee

1.21%

0.64%

CAD Deposit Fee

Free

Free

CAD Withdrawal Fee

Free

Free

Trading Fee

Free

Free

Spread (BTC)

2.26%

1.34%

Ref. Price Difference

Buy: +1.03%

Sell: -1.21%

Buy: +0.69%

Sell: -0.64%

BTC Buy Price

$56,351

$55,160

BTC Sell Price

$55,108

$55,418

Reference Price (Google)

$55,774

$55,774

Sign Up

Deposits & Withdrawals

Best Overall

✅ Winner

Cell

$CAD Funding Options

E-Transfer

Free

Nearly instant


Wire Transfer

Free

1-2 days


Shakepay A Friend

Free

Instant

E-Transfer

Free

Nearly instant


Wire Transfer

Free

3-4 days


Direct Bank Transfer

Free

2-4 days

$CAD Withdrawal Options

E-Transfer

Free

Nearly instant


Wire Transfer

Free

1-2 days


Shakepay A Friend

Free

Instant

E-Transfer

Free

Nearly instant


Direct Bank Transfer

Free

2-4 days

BTC Withdrawal Fee

0 BTC (Free)

$5 off network fees (usually free)

ETH Withdrawal Fee

0 ETH (Free)

$5 off network fees

Security

Best Security Overall

✅ Winner

Cell

Year Founded

2015

2018

Uses Cold Storage?

FINTRAC Regulated

Insurance Policy

✅ (Coinbase's)

Any Hacks or Incidents?

🚫

🚫

2FA

Address Whitelisting

🚫

View Login History

🚫

🚫

Crypto Withdrawals Allowed

KYC

✅ (Mandatory)

✅ (Mandatory)

Publicly Traded

🚫

🚫

Headquarters

Montreal

Toronto

User Interface

Shakepay

Shakepay App Home
Shakepay App Charts
Shakepay Trading Page

Newton

Newton App Market Orders

Shakepay or Newton?

Newton is better for trading Bitcoin and altcoins at the lowest fees. Shakepay is better for earning Bitcoin rewards from ShakingSats or their free Visa Card with unlimited 1% cash back.

Both platforms are low-cost, easy-to-use and popular throughout Canada. However, Newton is cheaper overall with lower spreads and 70+ coins versus just 2 coins on Shakepay.

When To Use Newton

  • If you want 70+ cryptocurrencies
  • If you want lower spreads and overall fees than Shakepay
  • If you want $5 off crypto withdrawals on all coins

When To Use Shakepay

  • If you want the easiest platform for beginners
  • If you want free ETH withdrawals
  • If you will only be trading BTC or ETH
  • If you want the Shakepay Card (1% cash back in Bitcoin)
  • If you want the ShakingSats feature to earn free Bitcoin every day

Sign Up:

Shakepay

Get $30 free when you trade $100

Newton.co

Get $25 free when you trade $100

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RankFinance

Alex Dabek

RankFi.com (Contributor)

Alex is the owner of RankFi.com, where he covers all things Web3 and cryptocurrency. He's been passionate about blockchain technology since 2017 and has reviewed more than 100 crypto exchanges, brokers, and DeFi applications.


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