Please be advised that Newton Exchange is only available to Canadian citizens.
Newton Exchange Review
What is Newton Exchange?
Newton is a centralized cryptocurrency exchange from Canada that opened up its doors in 2019. It has named itself after the famous Isaac Newton, but not due to the accomplishments he’s most famous for, but for him being a pioneer in stamping our counterfeit money. Naturally, avoiding counterfeit currency is one benefit with the blockchain tech as well.
Only Open to Canadians
This exchange is currently only open to Canadians. On 18 February 2021, the platform announced to its users that they had now surpassed 100,000 users on the platform, so it's gaining popularity for sure.
Newton Exchange Advantages
The platform markets six things as advantages with their particular platform, as set out in the below picture. We have not been able to verify whether the platform has high liquidity or whether the spreads are indeed competitive. In any event, these advantages look very good on the face of it and will be surely be found attractive to the new users of the platform as well.
Most people prefer to do their crypto trading via desktop. But there are also a lot of people doing it via their smart phones or reading tablets. If you are one of those people, you’ll be happy to know that the Newton trading platform is also available as a mobile app, both for Androids and iPhones.
Newton Exchange Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. Below you will find two pictures of the trading view or purchase interface of Newton:
Newton Exchange Fees
Newton Exchange Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being carried out. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by giving the makers of that liquidity a fee discount.
At Newton, you don't pay taker or maker fees, but you pay the so called spread. The spread is on average between 0.50% and 0.70% above spot at volumes of up to 3 Bitcoins here. The below picture illustrates the spread quite well (picture obtained on 17 March 2020):
Newton Exchange Withdrawal fees
Another fee to consider before choosing your platform is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of the cryptocurrency units withdrawn), and varies from crypto to crypto. The global industry average BTC-withdrawal fee is 0.000812 BTC. At Newton Exchange, they don’t charge any withdrawal fees of their own. However, you must still pay the network fee when sending crypto from the platform to another place. The network fee varies from day to day and depends upon the current pressure on the relevant crypto’s network, but it is generally substantially lower than what the global industry average withdrawal fees are.
At Newton, you can deposit through pre-authorized debit and wire transfer. If you for any reason need an exchange that also accepts deposits via credit cards, you can find one by using the filters in our Exchange List or simply by completing the Exchange Finder test.
Newton Exchange Security
We like the fact that Newton offers daily off-site backups, distributed cold storage, and bank integration. Their partnership with Balance, a professional third-party custody service, gives them a security advantage relative to other exchanges.
You can visit the exchange here.