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Newton.co

Newton

2018

Founded 

Canada

HQ

Last Updated Mar 25, 2023  |  Affiliate Disclosure

  • Review

What Is Newton?

Newton is a commission-free cryptocurrency exchange with zero deposit fees and zero trading fees. It's one of the best fiat on/off ramps in Canada and recently, they expanded into the USA to offer their services. While they don't offer the most features or altcoins like Binance US or KuCoin, Newton can be a good fiat on and off ramp that is easy to use.

Background

Newton's Best Features

Newton Features

Newton doesn't offer the most features like staking, advanced trading, crypto debit cards and more. However, they are focused on being a low-cost platform that is easy to use. They do a good job at being a simple, inexpensive fiat on/off ramp. Here are its best features:

  • Instant Verification - Sign up in 5 minutes. Just upload your ID and you will be automatically verified 
  • Low Fees - Newton is commission-free and has free deposits and withdrawals. They make money on the spread, like most exchanges. You can check prices in real-time at Newton.co/us/prices. While Newton used to have low spreads, it looks like the fees have gone up significantly. Bitcoin and Ethereum have spreads around 2.5% and and smaller altcoins are north of 3%.
  • 20+ Cryptocurrencies - Newton US offers 20+ cryptocurrencies but there are plans to add more. The Canadian version already has 75+ altcoins so you can expect to see more over time.
  • Cheap Crypto Withdrawals - If you want to withdraw crypto to another wallet or exchange, Newton covers the first $5 of blockchain fees. This means some coins like Bitcoin and Stellar will usually be free to withdraw and you'll get a discount on more expensive coins like Ethereum. They also have multichain support to ensure you get the best rates. 
  • Beginner Friendly - Newton's trading interface is very smooth and simple. It's easy enough for anyone to make trades, even if they have zero experience with cryptocurrencies. You have access to market orders and limit orders and you can filter between line charts and candlestick charts. If you're looking for advanced trading, Newton will not be the place to get technical indicators, order books, or advanced order types.

How To Fund Your Account

You can deposit USD into your Newton account via ACH bank transfer for free (up to 4 days). The other option is wire transfer which is also free, however there might be fees fro your bank.

Newton Alternatives

The USA has many regulated and offshore crypto exchanges to choose from. Here are some of the best Newton alternatives whether you're looking for safety, low fees, lots of altcoins, and more.

  • Coinbase: It's considered the safest crypto exchange in the USA and the entire world. Coinbase checks all of the boxes when it comes to security: Regulated, publicly traded, crypto held in cold storage, good reputation, and more. While Coinbase is safe, keep in mind it also has some of the highest fees in the industry. They did, however, launch a subscription service called Coinbase One which eliminates trading fees.
  • KuCoin: If you're looking for an offshore crypto exchange with 700+ altcoins, derivatives, and advanced trading, KuCoin is one of the largest in the world. They allow anyone to trade and withdraw funds without going through KYC and has become a large platform in the industry with 10M+ users.
  • Fold App: If you're a Bitcoiner, Fold is a debit rewards card allowing you to earn Bitcoin on every purchase you make.

The Bottom Line

Newton has a great UX, 20+ coins and low fees. While Newton doesn't offer many altcoins or features like some of the other crypto exchanges, it can be a great fiat on/off ramp. 

Since Newton has free deposits and cheap crypto withdrawals, it's a great platform to buy crypto with USD which you can then transfer to other wallets, Dapps, and exchanges. The platform has grown quickly in Canada and if they keep adding coins and features, it could become popular in the U.S. as well.

Pros & Cons

  • Great fiat on ramp (free USD deposits)
  • No trading fees and low spreads which range from 0.50%-1.00%
  • Great user-interface
  • Not for advanced trading
  • Only 20+ coins so far
  • Limited features overall

Author

At RankFi.com, our goal is to be your trusted source for crypto reviews, guides and research. We seek out researchers with extensive crypto knowledge and firsthand experience using dozens of CeFi and DeFi platforms.



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