Compare: Newton vs NDAX
Choosing the best crypto exchange between Newton vs NDAX will ultimately depend on a few factors. Mainly how much you want to buy/sell and if you want to trade or just buy and hold. I have used both of these exchanges for more than 4 years now and this is what I would recommend and why.
TL;DR Summary
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Newton - Easy to use exchange for beginners with lots of altcoins. Best overall exchange for most people.
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NDAX - Best for traders. Stake crypto to earn interest rewards.
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For Fees: Use Newton to buy/sell less than $5K worth of crypto and use NDAX if you want to buy/sell more than $5K.
Newton
Why I LIKE Newton:
- Low Spreads
- Almost Instant eTransfer Deposits/Withdraws
- Recurring Buys
- Lots of Altcoins to Trade
- Usually Free to Withdraw Crypto
- Multi-network support
- Easy to use
Why I DON’T LIKE Newton:
- Fee to withdraw crypto can be confusing
- Surge pricing
Newton Dashboard
NDAX
Why I LIKE NDAX:
- Tight Spreads
- NDAX has within-the-hour deposits/ Withdrawals to your bank account for OTC Trades
- Staking
- Quick Buy/Sell or Trading View
- Recurring Buys
- Advanced Order Types
- TradeView Charts
- Good Customer Service
Why I DON’T LIKE NDAX:
- Low trading liquidity compared to international exchanges like Kraken and Coinbase
- Fee to withdraw crypto
NDAX Dashboard
Exchange Fees Comparison Table
| Platform | Spread / Trading Fee | CAD Deposit Methods | Free Crypto Withdrawals | Staking | Mobile App |
|---|---|---|---|---|---|
| Shakepay | 1.0% - 2.0% spread | Interac E-Transfer, Wire | Yes (100% Covered) | No | iOS & Android |
| Newton | 0.75% - 1.5% spread | Interac E-Transfer, Wire | Yes (up to $5 covered) | No | iOS & Android |
| NDAX | 0.20% flat trading fee | Interac E-Transfer, Wire | Fixed flat fee | Yes | iOS & Android |
| Kraken | 0.16% - 0.26% Pro | Interac E-Transfer, Wire | Network fee only | Yes | iOS & Android |
| Bitbuy | 1.5% - 2.0% Express (0.1% Pro) | Interac E-Transfer, Wire | Network fee only | Yes | iOS & Android |
| Netcoins | 1.25% - 1.5% spread | Interac, Wire, Credit Card | Network fee only | No | iOS & Android |
| Wealthsimple | 1.5% - 2.0% spread | Linked Bank Account, E-Transfer | Network fee only | Yes | iOS & Android |
Customer Service / Platform Reliability
Newton has a larger amount of customers and at peak times can experience issues responding to all the support questions.
NDAX has holiday hours - meaning that on some Canadian long weekends, they are not able to process fiat transactions. They send an email notification ahead of time stating when this will be happening.
Comparatively, I would say that both Newton and NDAX would be similar when you weigh out the pros and cons of each.
Both exchanges are so far considered trustworthy and are NOT scams.
Conclusion — Newton vs NDAX
Newton is one of the best all-around Canadian crypto exchanges. Newton is an easy-to-use design and has a low spread fee and usually no* fee to withdraw crypto. make it a good choice if you like to dollar cost average, and then send crypto to your own wallet.
NDAX is a good trading platform. Buying/selling larger amounts (over $5,000) or if you want to stake some crypto. NDAX has a lower spread fee but a higher fee to withdraw crypto.
They also don't offer the option to withdraw dollars via Interac e-Transfer. They only offer wire transfers for withdrawing fiat to your bank.
Because I am paranoid and don't trust any crypto exchange, I always send my crypto to my own wallet and have multiple exchange accounts just in case.
If you were my friend I would tell you to sign up for both exchanges. Every exchange has some downtime and cryptocurrency is a 24/7/365 market.
You need to submit similar documents to verify your account and it is just easier to do it all at once.
This way when you want to buy/sell crypto and dollars — you have some options for getting the best fee at the time based on the size of your transaction, the coin, or the network you want to use. And just in case - better to be prepared ahead of time.