Newton Referral Code 2023 ($25 Welcome Bonus)

As bitcoin and other digital currencies continue to go mainstream, Canadians are getting more options for buying and selling cryptocurrencies.

When you sign up with Newton referral promo code O7BY2M or link, you get a $25 welcome bonus after you verify your account, fund it and trade crypto with a $100 minimum.

Newton is a relatively new entrant to the game. In this Newton review, you’ll learn about its offerings, fees and pros and cons.

Also, you’ll learn how to get $25 in Newton referral bonus when you sign up using our referral link or using out Newton referral code, O7BY2M.

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Newton Referral Welcome Bonus Terms and Conditions

These are the terms and conditions required to get your Newton referral sign-up bonus:

• Sign-up using this Newton referral link
• Alternatively, enter promo code O7BY2M if not there
• Verify your Newton account
• Fund your account and trade crypto with a minimum of $100
• Receive your $25 welcome bonus automatically to your account

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About Newton

Newton is a Toronto-based cryptocurrency exchange that was founded in 2018.

Though relatively new, the company has positioned itself as one of best exchanges available to Canadians looking to trade digital currencies at low cost.

Some of the key Newton Features include:

• Third-party custody through Balance
• Instant verification at sign-up
• Intuitive Web and mobile apps (iOS and Android)
• Ability to trade 71 cryptocurrencies
• Fund account using Interac or wire transfer

Newton has the largest selection of digital coins available to trade in Canada, with plans to introduce more in the coming months.

The supported coins on Newton include:

Related: Best Apps To Buy Bitcoin in Canada

Newton Pro

Newton Pro isn’t publicly available yet (still in beta phase) but you can request API access to experience it.

With Newton Pro, you get to trade like a professional with more features and at lower cost such as:

• Limit orders
• Lower fees (0.1% maker/taker fees)
• Smaller spreads (up to 4 times tighter than the retail platform)
• More liquidity (including from Newton’s institutional partners) and transparent order book

To start taking advantage of Newton Pro, login to your account, go to Settings then API Access to request for access.

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Newton Pros and Cons

Pros of Newton

• Easy sign-up process with instant verification
• Low and competitive spread on crypto buys and sells
• Great selection of cryptocurrencies
• Great referral program that pays you to refer your friends.
• High daily limit for Interac e-transfer
• Both personal and corporate accounts are supported.

Cons of Newton

• Features are still limited – there are no limit orders for example
• Customer support can sometimes take a while to respond

Newton Fees

The crytpo exchange markets itself has a “Canada’s first no-fee cryptocurrency brokerage.” This is partly true since there are no standard trading commissions.

• Trading Commission: Free
• Deposits and Withdrawals (CAD): Free
• Crypto Withdrawals: $5 covered by Newton.
• Spreads: varies – see below.

Newton Spread

While Newton does not charge a standard commission when you buy or sell on their platform, they earn a spread on the prices quoted.

Other no-commission platforms, like Shakepay, operate using the same model.

However, Newton has one of the lowest spreads available in Canada. At the time of writing this post, the spread on all the platforms were below 0.70%.

This is quite low compared to other crypto exchanges that have spreads that can be as high as 3% or more.

Check here for the latest Newton spreads.

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Newton Referral Code & Bonus ($25)

Get $25 bonus when you sign up using this Newton referral link or by entering this Newton referral code (O7BY2M). To qualify for the referral bonus, you must verify your email, phone and identity and buy $100 worth of digital currency.

Newton will also pay you a bonus of $25 for every friend you refer to their exchange. Each of your referral must also satisfy the minimum trade requirement.

How the Newton Referral Works

To get started, simply click on the Newton referral link to be directed to their website. Or enter the Newton referral code, O7BY2M, when prompted for it.

Next, sign up for a new account and verify your email, mobile number and identity.

You can verify your identity by uploading one of your government-issued IDs or using your webcam. It all takes a few minutes.

The next step is to fund your account interac e-transfer, EFT or wire transfer. With your account funded, purchase at least $100 worth of cryptocurrency to qualify for the bonus.

You can earn even more money through the Newton referral program when you refer your friends.

Simply login to your profile, copy your unique referral link and start sharing with your friends via text message, email or your favorite social media.

Both of you will get the bonus after they buy a minimum of $100 in digital currencies.

Learn more about Newton Referral code program in the linked post.

Is Newton Safe?

First, Newton is registered with FINTRAC and regulated as a money service business in Canada. In the US, it is registered with FinCEN. So the company is legit.

They have also partnered with Balance to provide a third-party institutional-grade cold storage of their customers’ digital currencies at no extra charge.

You can read more about how Newton secures your digital assets here.

In addition, Newton uses two-factor authentication to prevent unauthorized access to your account.

But know that crypto exchanges have been hacked in the past. So the best way to keep your cryptocurrencies safe is through an hardware wallet. And two of the best crypto hardware wallets below $100 available to Canadians are:

• Ledger Nano S
• Trezor One

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Newton Alternatives in Canada

There are a number of crypto platforms and apps in Canada. Here’s how Newton compares to some of the popular ones.

Newton vs Wealthsimple Crypto

Wealthsimple, Canada’s most popular robo-advisor, introduced its cryptocurrency trading app called Wealthsimple Crypto in 2020 – available through Wealthsimple Trade app.

Like Newton and Shakepay, it’s also commission-free but you pay through the spread. Unfortunately, the spread at Wealthsimple Crypto is wider than the ones at Newton and Shakepay.

You’ll get the sleek interface you’ve come to associate with Wealthsimple. Plus you can hold your Bitcoin for tax-free growth in your TFSA by buying a crypto ETF.

Overall, Newton has a more feature-rich offering with lower spreads than Wealthsimple, and more digital currencies available to trade.

Check here for a full Wealthsimple Crypto Review or learn about its promotions here: Wealthsimple Crypto Referral Code.

Newton vs Shakepay

Shakepay is another crypto exchange available to Canadians with no commissions. It also makes its money through the spread on its quoted prices.

It’s drawback is that the spread is wider than the one at Newton. Also, only bitcoin and Ethereum are currently supported by Shakepay.

Shakepay has a cool feature called ShakingSats that rewards you with free Bitcoins daily.

Simply open the app every 24 hours, shake the phone and get free Bitcoins in your account.

The bottom line is both crypto exchanges have clean and intuitive user interface, and you can ‘t go wrong with either platform. But based on fees and the number of currencies supported, Newton has a better offering.

However, you should also consider signing up for Shakepay as a great backup and to earn free bitcoins daily through ShakingSats. Get $5 through this Shakepay referral link.

Check this full Shakepay review or learn more about the crypto app through the posts below:

• Shakepay Referral Bonus
• Shakepay vs Newton

Newton vs NDAX

NDAX started operating in 2017 and currently supports 32 cryptocurrencies. It has slightly lower buy spread than Newton at about 0.50%.

It charges a 0.20% fee for both buying and selling bitcoin, ether and all the other supported coins.

Depositing Canadian dollars or crypto into your NDAX account is also free. However, there a $25 fee for withdrawing funds from your account.

Plus flat fees for withdrawing your crypto: bitcoin withdrawals cost 0.000399 BTC for example.

You may not mind the flat fees for large withdrawals of CAD and crypto, but it’s a pain when withdrawing little amounts.

On the other hand, funding and withdrawing CAD from your Newton account is completely free. And they’ll cover the first $5 in mining fees for crypto withdrawals.

Related:

• NDAX Review
• NDAX Referral Code & Review

Newton vs Bitbuy

Bitbuy has been serving Canadian crypto investors since its founding in 2016.

The supported coins include Bitcoin, Bitcoin Cash, Ethereum, EOS, Litecoin, Steller XLM, Chainlink, Aave and XRP. A total of 39, much lower than the 71 coins supported by Newton.

Bitbuy’s spreads are also lower than Newton’s but then they charge for deposits: 1.50% for e-transfers and 0.50% for bank wires. There’s also a 1.50% withdrawal fee for either e-transfers or bank wires.

Newton on the other hand does not charge for both deposits and withdrawals. Therefore, considering all the fees involved, Newton is much cheaper than Bitbuy.

So what’s the verdict? Overall, Newton has a better offering than Bitbuy for now with lower fees to purchase cryptocurrencies and more coins to trade. But if you’re a trader, then the lower spread on Bitbuy makes it a superior platform.

Read my full Newton vs Bitbuy comparison here.

Read more:

• Bitbuy Review
• Bitbuy Referral Code

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Bottom Line: Newton Review

Bitcoin and the other digital currencies are now mainstream and getting widely adopted. Like other investments, cryptocurrencies are not without risk.

In fact, they are very speculative and prone to wide volatility – even worse than those of traditional investments.

So you should only invest within your risk tolerance and as part of a well diversified portfolio.

Overall, this Newton review is largely positive. Whether you’re ready to get started or looking to move to a platform with better fees, Newton is definitely worth a try.

It has a good mix of features, lower fees and lots of supported cryptocurrencies (71 coins at the time of writing this).

Get $25 Newton referral bonus when you sign up using the referral link below or by entering our Newton referral code, O7BY2M.

If you’ll rather invest in cryptocurrencies through ETFs, check this post on the best cryptocurrency ETFs in Canada. The best part is you can hold them in your TFSA, RRSP, RESP and other registered accounts.

Read More:

• What Is Diversification And Why Is It Important?
• How To Start Investing In Canada For Beginners
• How to buy Terra Luna in Canada