Summary: After conducting a thorough review of Shakepay and Newton, two prominent exchanges in Canada, we've determined that Newton is the best for Canadians. While Shakepay offers a user-friendly experience and unique features like shaking your phone to earn free Bitcoin, Newton provides a more extensive selection of cryptocurrencies and boasts zero-commission trading.

Newton Review
Table of Contents

Newton vs Shakepay Overview

Launched in 2015 by Jean Amiouny and Roy Breidi, Shakepay is a cryptocurrency exchange headquartered in Montreal. The platform is known for its user-friendly design, zero fees, and expedited account verification process. It offers unique features like the Shakepay Card, a Visa card that enables direct crypto spending or ShakingSats, a P2E app to earn Bitcoin for free. 

Newton, founded in 2018 by Dustin Walper, is another Canadian cryptocurrency exchange located in Toronto. It offers a wide selection of over 70 digital currencies and features like zero-commission trading and automatic verification. Both platforms have their unique strengths, catering to different trading needs and preferences in the Canadian market.

Shakepay: Home Page.
Shakepay: Home Page.

Products and Services

Shakepay supports a range of over 30 digital assets for trading. For investors with significant capital, such as institutions or high-net-worth individuals, it offers a specialized OTC desk for transactions that exceed $100,000 CAD. The platform also offers ‘ShakingSats’, a feature that rewards users with sats (BTC) for shaking their phone once a day, and a crypto debit card that allows you to spend any of the supported assets.

Newton offers a broader selection of over 70 cryptocurrencies, available for trading and staking for high yields up to 30%. Similar to Shakepay, Newton also caters to large-scale investors with its dedicated OTC desk for large orders.

Winner: Newton holds an edge in terms of the variety of supported assets. However, Shakepay offers more features overall.

Supported Countries

Newton is accessible to both Canadian and American investors. Shakepay is accessible exclusively to Canadian residents, focusing its services to cater to the specific needs and regulations of the Canadian market.

Newton: Home Page.
Newton: Home Page.

CAD Payment Methods

Shakepay facilitates Canadian dollar deposits through Interac e-Transfer and bank wire transfers. Additionally, the platform accepts incoming cryptocurrency transfers for its curated list of supported digital assets. 

Newton provides similar CAD deposit options, including Interac e-Transfer and wire transfer, and also allows cryptocurrency transfers in its wider range of over 70 supported assets.

Winner: Both Shakepay and Newton offer comparable Canadian Dollar (CAD) payment methods, making them equally convenient for users looking to fund their accounts.

Newton vs Shakepay Fees

Shakepay is highly competitive in the Canadian crypto landscape, offering zero fees for both depositing and withdrawing Canadian dollars. Additionally, the platform provides commission-free trading, meaning you can buy, sell, and swap cryptocurrencies without incurring any extra costs. The only charge you'll encounter is the spread, which is the difference between the buying and selling price of an asset; this typically sits around 3%.

Newton also boasts some of the most competitive fees in Canada. Like Shakepay, it charges no fees for depositing and withdrawing CAD and offers 0% commissions on trades. The primary cost is the spread, which is generally around 1% - 2%, depending on the asset being traded.

Winner: It's a close call, but Newton has a slight edge with its tighter spread, although both platforms offer excellent fee structures with no costs for deposits, withdrawals, or trading.

Newton: Fees.
Newton: Fees.

Security and Regulation

Shakepay is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) under the registration number #M17065696. It is also authorized by the Autorité des marchés financiers (AMF) in Quebec. 

Newton is registered with both the Ontario Securities Commission (OSC) and FINTRAC under #M19607029, and is regulated by the U.S. Securities and Exchange Commission (SEC) in the United States.

Winner: While both platforms have strong security measures and are compliant with Canadian financial regulations, Newton has an edge regarding additional U.S. regulatory oversight. 

Final Thoughts

To sum up, both Newton and Shakepay offer compelling features for cryptocurrency investors in Canada, but Newton takes the lead in several key areas. With its wider selection of over 70 digital currencies, zero-commission trading, and additional U.S. regulatory oversight, it emerges as the more versatile and secure platform for Canadian investors. 

Shakepay is not far behind, offering unique features like ShakingSats and a crypto debit card. However, if you're looking for a platform that allows for a more diversified digital asset portfolio and tighter spreads on trades, Newton is the preferable choice.