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
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
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
Overview
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 & SpreadBoth platforms were tested on Mar 2, 2022 at the same time and numbers are subject to change.
| ||
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
Newton
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:
Get $30 free when you trade $100
Get $25 free when you trade $100
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