Crypto.com vs Newton: Which One is the Best?

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This crypto.com vs Newton comparison covers how the two crypto platforms compare for Canadians.

Cryptocurrencies are constantly growing in popularity. As a result, there is an increasing need for reliable cryptocurrency platforms in Canada.

Cryptocurrency exchanges and brokers make it easier for you to convert cryptocurrencies into fiat money and vice-versa. There are different crypto exchanges available in Canada that offer several digital currency trading services.

But with so many crypto exchanges out there, it can be challenging to choose the best one. So how do you choose the best exchange? 

In this article, we are going to compare Crypto.com and Newton to find out which one offers the best crypto trading services and security in Canada.


Crypto.com vs Newton Overview

Crypto.com vs Newton are two platforms that allow users to trade in cryptocurrency and make transactions using their bank accounts. 

Let’s have an overview of Crypto.com vs Newton before we go into details.

Key FeaturesCrypto.comNewton
Inception Year20162018
Ease of UseYesYes
Supported CryptocurrenciesOver 25071
Minimum Investment$1$0
Funding OptionsCrypto deposits, credit/debit cards and bank transferInterac e-Transfers, wire transfers, crypto deposits and Pre-authorized bank transfers
SpreadUp to 2%0.5% – 0.7%
Trading FeesVaries$0
Deposit Fees$0$0
Withdrawal FeesVaries$0
Welcome Bonus$25$25
FINTRAC RegulationYesYes

Crypto.com Overview

Crypto.com is a crypto exchange that allows users to buy, sell and trade numerous cryptocurrencies in a secure, fast and easy manner. It is based in Singapore and was founded in 2016 to make cryptocurrency trading more accessible for users.

It currently offers over 250 cryptocurrencies for trading on its exchange platform including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) etc., which makes it one of the largest exchanges available today.

Crypto.com offers cash back Visa cards that you can use to spend your digital assets anywhere where visa cards are accepted. 

This is great if you want to avoid going through exchanges every time you need to make purchases with cryptocurrencies.


Pros and Cons of Crypto.com

Crypto.com is one of the largest cryptocurrency platforms in the world that simplifies the process of trading cryptocurrencies.

However, there are some pros and cons of using this exchange that you should be aware of before using it. Here are some of the pros and cons of Crypto.com:

Pros

  • Wide range of cryptocurrencies: Crypto.com has a wide range of cryptocurrencies available for trading. You can trade over 250 cryptocurrencies on this platform.
  • Low fees: The fees charged by Crypto.com are relatively low compared to those charged by other crypto exchanges, which means you can keep more of your profits. 
  • Earn on your crypto holdings: Crypto.com users can stake CRO and other coins to earn passive income on their crypto assets. This can be a good way to earn money while waiting for the price of Bitcoin or any other cryptocurrency to rise again.
  • Cashback Visa card: Crypto.com provides a Visa card that offers cash back rewards on every purchase made with the card, which gives you even more ways to save money while spending your crypto assets.

Cons

  • High credit/debit card fees: Crypto.com is one of the most expensive crypto exchanges when it comes to card fees. The platform charges high fees on purchases made with its credit and debit cards.
  • Lack of educational resources: Crypto.com doesn’t offer educational resources as other platforms do. This means that if you’re new to cryptocurrencies, you’ll have to do some research before using this particular platform.

Newton Overview

Newton is a Canadian cryptocurrency trading platform that provides its users with the ability to invest in all major cryptocurrencies and tokens. 

The company was founded in 2018 with the aim to offer users a secure and reliable way to trade cryptocurrencies. 

Newton offers a simple and easy-to-use interface that makes it easy for both beginners and experienced traders to get started on their platform.

Unlike some other Canadian crypto brokerages that only support Bitcoin and a handful of other top coins, the Newton trading platform allows users to trade in 71 different cryptocurrencies.

Newton Crypto’s comprehensive coins support gives investors more options when choosing which cryptocurrencies they want to invest in.

Also, the Newton platform has been designed with security in mind so that users can trade their digital assets without worrying about any losses or theft issues.

Learn more: Newton Review


Pros and Cons of Newton

Newton is one of the most popular crypto exchanges in Canada, it’s been around for a while and supports a variety of cryptocurrencies. 

However, like other crypto trading platforms, Newton might not be the best choice for everyone. 

There are some pros and cons of Newton you need to be aware of before deciding if it’s the right trading platform for you.

Pros

  • High security: Newton uses multiple layers of protection including biometrics and two-factor authentication (2FA) to keep your assets safe from theft and fraudsters who may try to steal them from you.
  • Instant account verification: Newton offers instant account verification. You don’t need to wait for long periods to verify your account.
  • Multiple cryptocurrencies: The exchange supports multiple cryptocurrencies including Bitcoin, Litecoin, and Ethereum. 
  • No minimum investment amount: There is no minimum investment amount on Newton. This means that you can invest as little or as much as you want to start.
  • Low fees: You don’t have to pay any fees when you buy or sell your crypto on the platform. Newton makes money through spread included to quoted prices.
  • Institutional-grade storage: Newton uses institution-grade storage to store its users’ funds. The company uses this type of storage because it’s able to withstand hacking attempts and other forms of cyberattacks.
  • Pre-authorized bank transfers: Newton offers Pre-authorized bank transfer funding options which is not common among other crypto exchanges.

Cons

  • High spread: Although Newton doesn’t charge other fees, its spreads are high (up to 0.7%), which means that you might have to pay more than you would on other platforms.
  • Available for only Canadians: Newton only targets Canadians. This means that only Canadians can open accounts with the exchange.

Crypto.com vs Newton Key Features Compared

Crypto.com vs Newton are two cryptocurrency trading platforms that are competing for the top spot. 

They are both simple to use but they have some unique features that set them apart from each other. 

Let’s compare their key features to help you determine which platform is best for your crypto trading needs.

Crypto.com vs Newton: Ease of Use

Newton is known for its intuitive design. The interface is simple and easy to understand, which makes it ideal for beginners who are new to cryptocurrency trading platforms.

Depending on the platform you choose (app or exchange), Crypto.com’s interface isn’t as intuitive as Newton’s because it doesn’t have educational components that make it easier for new investors to learn about crypto investing. 

The crypto.com Exchange is also built for more experienced crypto traders and investors, so newbies may find it overwhelming.

Crypto.com vs Newton: Supported Cryptocurrencies

Both Crypto.com and Newton have a variety of different coins that they support, but there are some differences between the two services.

Crypto.com offers a wider range of cryptocurrency trading and investment options for its users.

Crypto.com offers support for more than 250 cryptocurrencies, including Bitcoin and Ethereum. Newton only supports 71 different types of cryptocurrency, which is still a lot of coins but not as many as Crypto.com.

Crypto.com vs Newton: Minimum Investment

When you open a trading account with Crypto.com, you have to deposit a minimum investment amount of $1. On the other hand, Newton doesn’t require you to deposit any minimum investment amount. 

Both platforms are very affordable as you don’t have to invest a large sum of money to get started.

Crypto.com vs Newton: Funding Options

Both Crypto.com and Newton allow you to fund your account using several funding options. However, they differ in the funding options available to you:

Crypto.com allows you to fund your account using crypto deposits, credit/debit cards and bank transfers.

Newton allows you to fund your account using Interac e-Transfers, wire transfers, crypto deposits and pre-authorized bank transfers. So as a Canadian user, Newton offers a better, easier, cheaper and faster funding option for CAD.

Crypto.com vs Newton: Spread

Newton charges a spread fee that ranges from 0.5% to 0.7%. This means that when you buy or sell cryptocurrency, it takes advantage of the difference between the highest price on the market and your actual purchase price. 

Similarly, Crypto.com also includes a spread on the Crypto.com app – as high 2% or more in some instances. The crypto.com exchange, however, has better spread.

If you’re looking to trade larger amounts, this might be an important factor in your decision-making process.

Crypto.com vs Newton: Fees

Trading Fees

Newton doesn’t charge trading fees. This means you can trade as much as you want without paying any trading fee at all.

Crypto.com, on the other hand, does charge a small fee for any trade, which starts at 0.40%. However, high-volume traders can qualify for lower rates depending on their monthly average trading volume on the platform.

Therefore, if you don’t plan on making a lot of trades Newton might be the better option.

Deposit Fees

Both platforms don’t charge deposit fees. This is good news for users who want to use their credit cards or other payment methods to fund their crypto trading accounts. 

Withdrawal Fees

Newton does not charge you any fees for withdrawing your funds. Crypto.com, on the other hand, charges a fee for withdrawing your money from their platform and it varies depending on the amount you withdraw and the method you use.

Crypto.com vs Newton: Welcome Bonus

Crypto.com offer a welcome bonus of US$25 to new users of the crypto.com app that sign up using a referral link or enter a referral code. Learn more about the Crypto.com promotions here.

Similarly, Newton rewards users with CA$25 bonus when they sign up using a Newton referral link and trade a minimum of $100 in crypto. Learn more about Newton referral program here.

Crypto.com vs Newton: Regulation

Both Crypto.com and Newton are fully compliant with all applicable laws and regulations regarding money services in Canada.

Crypto.com and Newton are regulated by FINTRAC as Money Services Businesses. Crypto.com is also registered with the SEC (Securities and Exchange Commission) in the USA.

Crypto.com vs Newton: Security

Both Crypto.com and Newton offer high-security features to protect your funds from potential hackers or other risks that could compromise your account security. 

Crypto.com has an excellent security system in place to protect your money from hackers or other threats. It uses multi-factor authentication (MFA) protection to ensure your funds are safe at all times.

Newton, on the other hand, offers 2-factor authentication to prevent unauthorized access attempts by hackers.

Both platforms also use cold wallets to store the bulk of the coins on their platform to prevent hackers. Cold wallets are not connected to the internet, so they cannot be hacked. This is a feature that you can only find on the more advanced exchanges.

That said, it is highly recommended that you take charge of safekeeping your crypto assets yourself. That means buying one of the top crypto wallets to store your cryptocurrency once you buy them from your favourite platform.


Crypto.com vs Newton: Which Exchange is the Best?

Newton will save you money on fees and making CAD deposits is much simpler and straightforward, but Crypto.com is an overall better bet for most crypto investors and especially beginners.

While they both provide services for buying and selling cryptocurrencies, each has its unique features, which may appeal to different types of users. 

With Crypto.com, you get access to more crypto products and services, such as its rewards crypto cards, NFT trading, staking, and a wider choice of supported coins. Bottom line is, you get the opportunity to make the most of your crypto holdings with Crypto.com and get paid in its native coin, CRO.

If you are looking for maximum diversity, with a variety of coins, Crypto.com is a better option. If you are looking for a more cost-effective way of trading your crypto, Newton has an advantage. 

Maybe you need both, or you’re looking for something else entirely: the point is that there is no “best” exchange out there, it’s all about matching up your exact needs with the most appropriate platform. 

RELATED: Shakepay vs Newton


Final Thoughts

The bottom line here is that both Crypto.com and Newton are highly reputable and trustworthy platforms, with a lot to offer their users. 

That being said, each platform is unique in its way, and there’s not too much that would cause a user from one platform to jump ship for another. Ultimately, it all boils down to which platform will give you the best crypto trading experience.

Hopefully, we were able to provide a clear comparison of two popular and reliable exchanges. We believe that with the information here you’ll be able to confidently choose either Crypto.com or Newton for your crypto trading needs.

Whichever platform you select, we wish you the best along your journey as a cryptocurrency investor.      

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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