Bitbuy vs Newton: Key Features
Bitbuy offers a range of key features that make it a popular choice among Canadian Cryptocurrency traders. The exchange offers both trading and staking services, both beginners and advanced trading platforms, an OTC desk, a mobile app, and private wealth services which provide investors that trade above $20,000 CAD with a personal account manager.
Newton has significantly fewer features than Bitbuy and only offers trading services, a mobile app, and an OTC Desk. It does have a waitlist for its staking feature, but this is not confirmed to go live.
Winner: Bitbuy provides a more feature-rich trading experience for all types of investors including beginners and advanced traders.
Bitbuy offers some of the lowest fees in the Canadian cryptocurrency market. The platform charges absolutely zero fees to deposit, and a small 1.5% fee on CAD withdrawals, Crypto withdrawals have a smaller fee but vary depending on the token. The trading fee varies between 0% - 1.5% depending on your monthly trading volume.
Newton charges zero fees to withdraw or deposit CAD from the platform, but Crypto withdrawals are subject to a fee. There are no trading fees, but there is a spread fee of 1% - 1.5% depending on the token you trade.
Winner: Bitbuy offers a lower trading fee for users with high monthly trade volumes, but aside from that, there is not much of a difference between the two exchanges' pricing.
Security, Regulation & Licensing
Bitbuy takes security seriously and has implemented a range of measures which includes two-factor authentication, SSL encryption, and a secure cold storage system for storing digital assets. Furthermore, it has never been hacked since its inception. It is also the only exchange to be approved by the Ontario Securities Commission and the Canadian Securities Administrators, and be registered with FINTRAC.
Newton has also had a good reputation in this area but has been subject to a few hacks in the past. This is a major incident that you should consider when making your decision on which exchange you want your funds stored in. Additionally, it is an unregulated exchange and is not registered with FINTRAC.
Winner: Bitbuy is the more secure digital asset exchange and is regulated/licensed by more government authorities.
Bitbuy offers 24/7 customer support in both English and French to help users with any questions or issues they may have. The support team is knowledgeable and responsive, ensuring that users receive the help they need in a timely manner. Bitbuy's customer service can be contacted via live chat, email, or one of its social media platforms.
Newton does not offer 24/7 support or a live chat feature directly on its exchange. The support team can only be contacted via email or through its social media platforms. However, it does offer an extension FAQ section.
Winner: Bitbuy has 24/7 support in multiple languages and provides many avenues to contact customer service.
So, which exchange is the best? For most people, Bitbuy is the stand-out winner. It has lower fees, better customer support, and extremely high-security measures set in place. To learn more about this exchange and its features, visit our detailed Bitbuy Review.