Bitbuy vs Newton: Which is the Better Crypto Platform?

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This Bitbuy vs Newton comparison takes a deep dive into how the two top Canada-based cryptocurrency platforms compare.

There are a number of cryptocurrency trading platforms available for you to choose from in Canada. But of course, not all of them are created equal and choosing the one that best fits your needs can be confusing. 

To help make the decision easier, we compare two very popular cryptocurrency exchanges in Canada: Bitbuy vs Newton. We will focus on some of the most significant features offered by each platform so that you can make an informed decision between Bitbuy and Newton.

Now let’s get started!


Bitbuy vs Newton Overview

Bitbuy and Newton are both digital asset trading platforms that make cryptocurrency investing easy. They are both user-friendly and low-cost platforms.

Before choosing between the two, Let’s look at the features of these great platforms:

Key FeaturesBitbuyNewton
Inception Year20162018
Minimum Deposit$100$0
Supported Coins2571
Funding OptionsWire transfers, e-transfers and crypto depositsInterac e-Transfers, Wire transfers, Pre-authorized bank transfers and crypto deposits
Spread0.4 – 0.5%0.5 – 0.7%
Trading Fees0.1% to 0.2%$0
Deposit Fees1% to 1.50%$0
Withdrawal Fees0.5% to 1.50%$0
RegulationFINTRAC & OSCFINTRAC
Sign-up Bonus$40$25

Bitbuy Overview

Bitbuy is a crypto exchange based in Toronto, Canada. It was founded in 2016 with the goal of providing secure, instant and easy access to digital currencies. 

The Bitbuy platform is very easy to use, which is great for beginners who are just getting started with cryptocurrencies. 

Bitbuy also offers more advanced trading options for those who want more control over how their trades are placed and executed by the system itself.

The Bitbuy exchange has mobile apps available for both Android and iOS devices, which makes it more convenient. Also, Bitbuy offers great service when it comes to customer support, which is important for both new and veteran cryptocurrency users.

Read my full detailed Bitbuy review here.


Pros and Cons of Bitbuy

As with any cryptocurrency exchange, Bitbuy has pros and cons that you need to know before deciding if the exchange is ideal for you. Let’s look at some of its pros and cons below:

Pros

  • It’s easy to use: The Bitbuy interface is intuitive and user-friendly, so even if you’re new to the world of cryptocurrency, it won’t be hard to navigate.
  • It has low trading fees: One of the biggest advantages of buying crypto on Bitbuy is that its trading fees are low – significantly lower than other exchanges. 
  • Bitbuy is secured: Bitbuy takes security very seriously. The exchange uses two-factor authentication (2FA) to protect your account from unauthorized access. Bitbuy also stores your funds in cold storage, which means that they aren’t connected to the internet, making them much safer against cyber attacks.
  • Dedicated support: Bitbuy’s support team is available 24/7 via email, live chat, and phone support. They can help with any questions or issues that you may have while using the platform.

Cons

  • Only available in CAD: You can only cryptocurrencies with Canadian dollars on this platform.
  • Several Fees: For each transaction on the exchange, there is a fee attached. This can add up quickly.

Newton Overview

Newton is a zero-commission platform that gives users access to all trading pairs offered by major crypto exchanges around the world. The platform has been operating since 2018 and has extensive experience in the financial industry.

It is committed to providing high-quality services and security for its customers, which include professional traders as well as beginners in the field of cryptocurrencies. 

Newton provides secure storage solutions for digital assets, including cold storage solutions that allow users to protect their funds from theft or loss due to hacker attacks.

Also, the platform offers instant deposits and withdrawals so you will be able to get your money into or out of your account within minutes.

Furthermore, it has an iOS app which allows traders to monitor their trades and make new orders on their mobile devices as well as track their portfolio’s performance over time.

Additionally, Newton doesn’t require a minimum investment amount, which means that you can invest as little money as you want.

Learn more about its features and benefits in this Newton Crypto review.


Pros and Cons of Newton

Newton has several pros and cons you need to know before investing with the platform. Let’s explore the pros and cons of a Newton and see if the pros outweigh the cons:

Pros

  • Easy to use: One of the biggest advantages of using this exchange is its user-friendly interface. 
  • Instant account verification: Newton provides instant account verification. This means no more waiting around for days to get verified.
  • No trading, deposit or withdrawal fees: Most crypto brokers charge for a variety of transactions, such as withdrawing, depositing and trading. However, with Newton, you won’t need to worry about any such fees.
  • Secured platform: Newton uses two-factor authentication (2FA) for enhanced security and other security features like cold storage wallets that reduce the risk for investors.
  • Supports multiple coins: Newton also supports a wide range of cryptocurrencies. At the time of writing, you can trade 71 coins on the platform.
  • No minimum investment: Newton doesn’t have a minimum deposit requirement, so you can start with as little as $1. 

Cons

  • Accept Only Canadians: Newton only accepts Canadian citizens. If you’re not a Canadian resident, you can’t open an account with Newton.

Bitbuy vs Newton Key Features Compared

Bitbuy and Newton are two of the most well-known cryptocurrency exchange and brokerage in the Canada. They both have their sets of unique features, so you should make sure to compare them before you start using either of them.

Let’s compare the key features of Bitbuy vs Newton below to see which one is best for you:

Bitbuy vs Newton: Minimum Deposit

Bitbuy and Newton both require you to make a deposit after creating an account with them. While Newton doesn’t require a specific deposit amount, Bitbuy has a minimum deposit requirement of $100.

This means that if you want to buy cryptocurrencies on Bitbuy, you’ll need to make at least $100 in fiat currency before you can start trading on the platform. This may be a challenge if you want to try out the platform with just a small amount of money.

However, the amount is quite low and shouldn’t be a deal breaker if Bitbuy meets your other requirements.

Bitbuy vs Newton: Supported Coins

Both Bitbuy and Newton support most of the major cryptocurrencies. However, Bitbuy currently supports 25 cryptocurrencies while Newton supports 71 cryptocurrencies.

This means that Bitbuy can only offer you a limited selection of coins, whereas Newton offers a much wider range.

So if you’re a crypto trader that wants access to more digital coins to trade, Newton is definitely the better crypto platform and beats Bitbuy.

Bitbuy vs Newton: Funding Options

Both Bitbuy and Newton offer a variety of funding options for their users to deposit money into their accounts. The funding options for both platforms are as follows:

  • Bitbuy: Wire transfers, e-transfers and crypto deposits
  • Newton: Interac e-Transfers, Wire transfers, Pre-authorized bank transfers and crypto deposits

As you can see, Newton offers more account funding options than Bitbuy. With this wider range of payment options, Newton offers customers a better experience when it comes to buying their favourite coins.

That said, Bitbuy supports e-transfers which is the fastest and most preferred way for funding your crypto account with CAD.

Bitbuy vs Newton: Spread

As a user at Bitbuy or Newton, you can expect to pay a spread fee. The spread refers to the difference between the price at which a trader buys or sells an asset and the price they pay or receive.

Bitbuy charges a narrower spread fee that usually tops up at 0.40%-0.50%. Newton, on the other hand, charges a spread that ranges from 0.5% to 0.7%.

The spread will usually vary depending on market conditions. But note that Bitbuy is an exchange so you’ll generally be trading with other users and the prices they want to buy or sell will affect the spread.

On the other hand, Newton is a crypto broker that makes money from the difference between the price it buys crypto from some users and its liquidity providers and the price it sells them to other users.

Bitbuy vs Newton: Fees

You can trade on Newton without paying any commission fee. The platform does not charge any fees on deposits or withdrawals from your account, which makes them one of the cheapest crypto platforms in Canada.

The only fee that Newton charges is the price spread of about 0.70% covered in the previous section. 

However, there is a trading fee that ranges from 0.1% to 0.2% on all trades made on Bitbuy. Bitbuy also charges a deposit fee of 0.5% for wire transfers and a deposit fee of 1.50% for Interac e-Transfers depending on how much you deposit.

Additionally, Bitbuy charges CAD withdrawal fees of 1.0% when you withdraw your funds using wire transfers and a withdrawal fee of 1.50% for withdrawals through Interac e-Transfers.

Bitbuy also charges fees for crypto withdrawals which are charged according to the type of cryptocurrency.

So in terms of fees, Newton outshines Bitbuy with its free deposit and withdrawal for fiat currency. Though it has a bigger spread, you’ll pay less in commission on Newton once you factor in all the other fees on Bitbuy.

Bitbuy vs Newton: Sign-up Bonus

Both Bitbuy and Newton offer a welcome bonus where you earn a certain amount for signing up through a referral link.

If you create a new account on Bitbuy using a referral link, you will get a sign-up bonus of $40. 

Newton, on the other hand, offers a sign-up bonus of $25 when you create an account on the platform using a referral link.

However, the catch with Bitbuy is that you must deposit at least $250 before you can earn the bonus. With Newton, you are only required to make your first trade of up $100 to earn the welcome bonus.

Overall, both crypto platforms offers new users generous sign-up bonuses in the form of cash. Learn more about the Newton referral program and Bitbuy referral program in the linked posts.

Related: Best Crypto Exchange Sign Up Bonuses & Offers

Bitbuy vs Newton: Who is the Winner?

Both exchanges have a lot of similarities, but there are some key differences that may make one exchange better than the other for your needs.

To help you make an informed decision, we’ve compared them head to head to find out which one is better. So which one is best for you? The best way to determine which platform is better is by assessing the features that each platform offers.

First, you need to compare the number of cryptocurrencies supported by each exchange. Both Bitbuy and Newton allow you to trade Bitcoin (and other currencies). The main difference between the two exchanges is the number of cryptocurrencies each offers. 

Newton offers more than 71 different cryptocurrencies and tokens, while Bitbuy offers just 25. This means if you want to trade more cryptocurrencies, then Newton might be a better choice as it offers more options.

Secondly, you need to consider security. Both Bitbuy and Newton are registered with FINTRAC as Money Service Businesses. In addition, Bitbuy is registered with OSC as a Restricted Dealer and one of the few registered crypto platforms with the regulator.

The next thing you should consider is the fees charged by each platform. Bitbuy charges trading fees, deposit and withdrawal fees. There is also the price spreads when you buy and sell.

Newton, on the other hand, has a standard fee structure with no hidden charges or fees. There are no deposit, withdrawal or trading fees. Instead, they only charge a small spread when you place trades on the platform. 

Based on the above comparison, Newton is obviously the winner but it still boils down to what you really want in a crypto trading platform. 

If you are looking for a user-friendly platform that can help you trade and make money, then Bitbuy maybe your best option. Also, with its lower spread, Bitbuy is a better platform for crypto traders or anyone that’ll be trading often.

You’ll have to deal with the deposit fees. But you’ll save more in the long run with the lower spreads on Bitbuy.

However, if you are looking for a cost-effective trading platform that offers more cryptocurrency options, more funding options or just want to buy and hold crypto, then Newton might be your choice.

LEARN MORE:


Bitbuy vs Newton FAQs

Is Bitbuy reliable?

Yes. Bitbuy has been around since 2016 and is one of Canada’s most reputable exchanges. It is a government-regulated exchange. Bitbuy is registered as a Money Services Business with FINTRAC and also OSC registered. 

Is Newton crypto any good?

Newton Crypto has a good reputation among the crypto community and has not been hacked yet in its history of operation. The platform is protected against hacks as it uses daily bank integration, cold wallets and other strong security measures.

Is Bitbuy better than Newton?

Newton is better than Bitbuy in several ways. Newton charges no trading fees, has no minimum deposit requirement and offers more coins than Bitbuy. Bitbuy, on the other hand, has a minimum deposit required amount of $100, charges fees on almost every transaction and offers a limited number of cryptocurrencies. However, Bitbuy is a better platform for crypto traders,

Was Bitbuy hacked?

The answer to this question is No. Since its inception, Bitbuy has not been hacked. As a matter of fact, the exchange stores most of its digital assets in cold wallets.
This way, even if someone tries to breach the security of their systems, they won’t be able to take any funds with them.


Summary of Bitbuy vs Newton

Bitbuy and Newton are two of the most popular cryptocurrency exchanges in Canada. They offer similar features such as low 2FA and cold storage.

However, there are also some major differences between them. In this article, we have compared Bitbuy vs Newton in terms of trading fees, security, reputation and customer support so that you can make an informed decision about where to trade your coins. 

Which is the better exchange? That really depends on what you’re looking for. Ask yourself, which platform supports a feature you need? Is security an important factor in your decision? 

If you want to quickly trade without any fuss, Bitbuy works well. If you want to avoid paying as many fees as possible, Newton has some of the lowest. Simply put, it’s up to you to decide which one best fits your needs.

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Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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