Summary: After a thorough examination of Newton and Bitbuy, two prominent Canadian cryptocurrency platforms, we've determined that Bitbuy holds the edge for investors in Canada. While Newton offers a user-friendly experience and a straightforward fee structure, Bitbuy shines brighter with its advanced security measures and robust trading options.

Bitbuy Review
Table of Contents

Bitbuy vs Newton Overview

Launched in 2018 by Dustin Walper, Newton is a Canadian cryptocurrency trading platform headquartered in Toronto. The exchange is recognized for its straightforward user experience, zero-commission trading, and rapid account verification process. It caters to both new and experienced traders by offering a clean, intuitive interface and a wide range of supported cryptocurrencies.

Bitbuy, founded in 2016 by Adam Goldman and Ademar Gonzalez, also calls Toronto home. It is the largest exchange in Canada and is notable for its strong security protocols, competitive trading fees, and swift account approval. The platform provides specialized tools like Bitbuy Pro, designed for traders looking for more advanced features, and Bitbuy Express, aimed at simplifying the buying process for those new to the crypto world.

Bitbuy: Home Page.
Bitbuy: Home Page.

Products and Services

Newton offers a handpicked range of around 40 cryptocurrencies, emphasizing a balanced portfolio over a sprawling list. For those who are financially well-equipped or institutional investors, Newton provides a specialized OTC (Over-The-Counter) trading desk to facilitate large-scale transactions. The platform sets itself apart with features like 'Newton WebTrade', tailored for seasoned traders looking for intricate trading strategies.

Bitbuy curates a list of 20 key cryptocurrencies, focusing on high-quality assets. It also accommodates high-net-worth individuals and institutional investors through its dedicated OTC trading desk. Unique offerings such as 'Bitbuy ExpressTrade' for quick and easy trades and a cold storage security feature add extra layers of value to the platform.

Winner: While Newton offers a more expansive selection of cryptocurrencies, Bitbuy zeroes in on a quality-centric lineup and provides additional features.

Supported Countries

Newton and Bitbuy are platforms exclusively available to Canadian investors. This focus allows them to specialize in meeting the distinct financial regulations and compliance standards set by Canadian authorities, thereby offering a more streamlined and secure experience for investors in the country.

Newton: Home Page.
Newton: Home Page.

CAD Payment Methods

Newton allows deposits in Canadian dollars through Interac e-Transfer and bank wire transfers, just like Bitbuy. Additionally, Newton accepts incoming transfers of cryptocurrencies from its specific list of supported digital assets. 

Bitbuy also provides the same options for CAD deposits and supports a curated list of cryptocurrencies for incoming transfers.

Winner: When it comes to Canadian Dollar (CAD) payment methods, both Newton and Bitbuy offer nearly identical options, making either platform a convenient choice for individuals looking to fund their accounts.

Bitbuy vs Newton Fees

Newton offers zero fees for both depositing and withdrawing Canadian dollars. Additionally, the platform lets you trade various cryptocurrencies without charging any commission fees. Your only cost is the spread, which is the difference between the buying and selling price of a digital asset; this typically ranges around 3%.

Bitbuy, on the other hand, also allows for free deposits and withdrawals in Canadian dollars. However, it does impose a trading fee that varies from 0.1% to 0.2%, based on the trading volume. The spread cost is usually between 1% and 2%, contingent on the specific cryptocurrency you're dealing with.

Winner: Bitbuy edges ahead due to its lower spread costs despite having a small trading fee. Both platforms provide cost-effective solutions for deposits, withdrawals, and trading activities.

Security and Regulation

Newton is a registered Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), with registration number #M12345678. 

Bitbuy also holds a FINTRAC registration under the number #M18755033 and is in line with Ontario Securities Commission (OSC) regulations.

Winner: Both platforms prioritize strong security measures and adhere to Canadian financial laws. However, Bitbuy is overseen by multiple government bodies in the country.

Bitbuy: Security.
Bitbuy: Security.

Final Thoughts

To recap, both Newton and Bitbuy offer compelling options for Canadian cryptocurrency investors, but Bitbuy takes the lead in several key areas. It sets itself apart with advanced security measures, lower spread costs, and a more specialized range of trading tools. Both platforms are compliant with Canadian financial regulations, but Bitbuy's oversight by multiple government bodies adds an extra layer of trustworthiness.