Newton is a relatively new cryptocurrency exchange based out of Canada. This article will discuss, "What is Newton Crypto Exchange? Is It Safe?". Let's get started.
What is Newton Crypto Exchange?
Newton is a Canadian-based cryptocurrency exchange that allows you to buy, sell, and trade cryptocurrencies. The company was founded in 2018 and aims to provide a simple and intuitive platform for Canadians to enter the cryptocurrency market. Newton boasts competitive user pricing and a friendly interface with a focus on security and compliance. Additionally, the exchange offers a mobile app for both iOS and Android devices, making it easy to manage your cryptocurrency portfolio on the go. Newton supports Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple, among other cryptocurrencies.
Is Newton Exchange Safe?
Yes. By the standards of crypto exchanges, Newton is very secure and has never been hacked.
The fact that Newton employs daily off-site backups with institutional-grade storage is one of its key security selling points. In order to reduce fraud, Newton also makes use of direct bank integration.
The company is also proudly Canadian and is an official FINTRAC-registered MSB (money services business) that is PIPEDA-compliant. All customer data is stored in Canada.
Newton Fees
Although Newton claims to be a "No-Fee Cryptocurrency Exchange," this claim is only partially accurate. The fees Newton charges are covered by the spread it provides on the trading interface.
Newton is a business that needs to make money, just like every other cryptocurrency exchange, and therefore makes money any time one currency is exchanged for another. The term "No-Fees" refers to both the lack of a flat price associated with each trade as well as the fact that they do not charge money to deposit funds. So how much does Newton charge on the spreads? Depending on the source, exchanges that incorporate fees into spreads usually charge between. 5% and 1% of the price.
What is Newton Crypto Exchange? Is It Safe? - hopefully, this article can help you to get some knowledge.
