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2021 Newton Review: Easy, No-Fee Canadian Cryptocurrency App

We review Newton’s features, fees, rewards, and overall experience for Canadian cryptocurrency users in 2021. Find out more about Newton.

Find out why we think Newton is a top choice for buying and selling Bitcoin, Ethereum, Litecoin, and more.

Newton is a Canadian cryptocurrency application that offers some of the lowest spread fees in the industry. For this alone, it would make a great option for your cryptocurrency investing. Further, it’s a beautifully-designed app that’s easy to navigate and comes with a good selection of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and more.

Read on to find out more about Newton’s features, fees, and more – and to see how it scores in our 2021 Newton Review.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.

Jump down to read a specific part of our 2021 Newton Review:

Newton’s Features

Newton’s Fees

Newton’s Rewards

Newton’s User Experience

Overall Results

Believe me already? Sign up for Newton today using my referral link and invest $100 CAD into cryptocurrency to get a $25 signup bonus. Here’s the link:

https://web.newton.co/r/JF6UWQ

Newton Features

Supported Coins

Newton gives it’s users the option to invest in seven cryptocurrencies and three stable coins. After funding your account with Canadian dollars, you can use Newton to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar (XLM), Bitcoin Cash (BCH), Ripple (XRP), Monero (XMR), USD Coin (USDC), Tether (USDT), and the Canadian dollar stable coin QCAD.

This is a great selection for newer cryptocurrency investors, as it includes many of the high market cap coins, but doesn’t offer too many alt-coins to pick and choose from. You could easily use Newton to make a balanced portfolio that covers a good variety of coins.

Buying and Selling Crypto

At the time of writing, Newton offers only one order type on its app, that being simple market orders. This means users need to actively track coin prices and place orders when prices meet their desired transaction thresholds. It’s worth noting that Newton also has their Newton Pro version, which is available through an API. This is a more advanced trading platform with features not available in their app or web portal. This review won’t be taking into account any of the features of Newton Pro.

Deposits and Withdrawals

The best and easiest way to deposit Canadian dollars into Newton is through their Interac E-Transfer function. This deposit method is completely free and is usually very quick to process. Unlike some other apps I’ve tried, Newton processes the E-Transfer as a request of funds (rather than a transfer you start through your bank account). Once you’ve requested your transfer in the Newton App, you will get an email asking to confirm the transfer, which you will follow through to your bank to complete the transaction. Personally, I like this method better, as you don’t have to worry about having the right settings in your E-Transfer contact. Newton also offers wire transfers and crypto deposits, both free of charge.

To withdraw funds in Canadian dollars from Newton, you can use an E-Transfer or a bank transfer, both without any fees. If you already have cryptocurrency in your Newton wallet, you can also withdraw it to another wallet address. Newton covers the fees for most of these transactions, but we’ll outline their crypto withdrawal fee policy in the next section.

Features Score: 8/10

Newton Fees

Transaction Fees

Newton has zero fees for trading cryptocurrencies. As well, depositing and withdrawing Canadian dollars or receiving cryptocurrency transfers have no fees.

Recently, in response to increased network congestion for certain cryptocurrencies, Newton created a new policy for crypto withdrawal fees. Newton will cover up to $5 per transfer out for any of their supported coins. In most situations, this means the transfer out would be free to the user. However, sometimes network fees go above this due to the amount of activity going on at the time. Newton has implemented a flagging system (similar to “surge pricing” for Uber) where it will let users know that a transaction may exceed their $5 limit, meaning a user would have to cover the remainder.

Spread Fees

Now you might be thinking, this seems too good to be true. How can Newton maintain a sustainable application if they don’t charge any fees for transaction? As I outlined in a previous article comparing Newton to their competitor Shakepay, Newton earns revenue based off of price spreads. In a nut shell, this means that the price you would pay to buy Bitcoin at Newton is higher than both the current market price and the price you could then sell it. A spread-based model is better for users that wish to make more smaller transactions, rather than fewer larger transactions. Those users would benefit from a flat transaction fee.

Using Bitcoin as an example, at a market BTC/CAD price of $56,953 (at the time of writing) Newton users can buy Bitcoin at $57,268 and sell it back for $56,578. This means that Newton offers a 0.55% spread on buying Bitcoin and a 0.66% spread on selling. So, if you invested $100 CAD, you would get $99.45 CAD of Bitcoin. If you then instantly sold it before the price changes, you would get $98.79 CAD back. This yields an overall total spread of 1.21%.

Of all the Canadian cryptocurrency apps I’ve tried, Newton has the thinnest price spreads without charging a transaction fee. This makes Newton an excellent option for those looking to make small transactions.

Fees Score: 9.5/10

Newton Rewards

Newton Referral Signup Bonus

Newton has a pretty great signup bonus to users that are referred into the app. If you sign up using my referral link (below), deposit $100 CAD or more, and but at least $100 of cryptocurrency, you will receive $25 from Newton. The best part about their referral system is that they pay the bonus to both the new user and the one who referred them. So, by using my link, you’re supporting me for writing this review, at no cost to you. As well, this means that once you’ve signed up you can start referring your friends and earning even more!

Here’s my referral link:

https://web.newton.co/r/JF6UWQ

If you run into any issues receiving your bonus (it usually arrives on the business day after you complete your $100 investment) then keep this code handy JF6UWQ. You can send that to Newton’s customer support team and they will apply the referral to your account.

Although Newton’s signup bonus isn’t quite as high as Shakepay (which I outlined in my 2021 Shakepay Review) it’s still more than double what most apps give to new users.

Rewards Score: 7.5/10

Newton User Experience

It may just be my own personal design tastes, but I think Newton has one of the best looking cryptocurrency apps out there. As well, it’s really simple and easy to use for new and experienced cryptocurrency investors alike.

Another positive of Newton is how easy their signup process is. I was able to get signed up and approved in the app very quickly and start investing right away. And, as I mentioned above, I really like the flow of their Interac E-Transfer funding where you start the transaction in the Newton App.

I have read some experiences of other users that ran into issues funding their account with Newton, with some citing long delays. I’m not sure if they were using different funding methods or just trying during congested periods, but I personally haven’t experienced this. As well, I haven’t had cause to submit a support ticket to Newton, but they seem to have a fairly active customer service department that is willing to tackle issues for their users.

User Experience Score: 9/10

Overall Results

Putting everything together, here’s how my scoring for Newton turned out:

Features: 8/10

Fees: 9.5/10

Rewards: 7.5/10

User Experience: 9/10

Overall: 34/40

This means Newton gets an overall score of 34/40. Their no-fee model and very thin price spreads make them a top choice for making smaller more frequent transactions. As well, they have a great selection of cryptocurrencies and a beautifully designed easy-to-use app that new and experienced users will love. They could increase their score by adding more order types and more opportunities for rewards.

If you’re ready to get started with Newton today, sign up using my Newton Referral Link to earn $25 once you invest $100.

Disclaimer: Bitcoinadian is not providing any investment advice or recommendations. We are simply reviewing Canadian platforms for investing in bitcoin and other cryptocurrencies, not encouraging you to do so. Bitcoin and other cryptocurrencies are inherently risky and volatile assets, so only invest in them if your risk tolerance allows it and you are using funds that you are prepared to potentially lose.