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Bitget vs. Newton: What Works Better For Canadians in 2024

Oleg Galeev

Last updated May 25, 2024

In the ever-evolving Canadian crypto trading landscape, both Bitget and Newton have made their marks. While Bitget appeals more to the advanced trader with its range of features, Newton stands out for its simplicity and fee-free structure.

Description

Bitget is a cryptocurrency exchange for skilled users that offers thousand of altcoins for Canadians (and people all over the world) to trade.

Newton prides itself on being Canada’s first no-fee cryptocurrency exchange. They claim their exchange is 2-3x lower than most other exchanges.

Coins

Over 1000 major coins and altcoins

Bitcoin, Ethereum, Litecoin, XRP, Stellar, Bitcoin Cash, Dogecoin, USDC, USDT, Chainlink, Aave, Uniswap, Polygon, Compound, SushiSwap, Curve, Synthetix, Dai, Polkadot

Fees

Trading fees on Bitget are low at just 0.1%, but can be lower if you pay fees with their token BGB.

  • 0% CAD funding
  • 0% CAD withdrawal
  • 0% crypto deposit/withdrawals (up to $5 network fee waived)
  • No commissions or trading fees
  • 0.40% to 0.72% spread

Pros

  • Low trading fees
  • Hundreds of altcoins
  • Advanced features
  • Simple KYC process
  • No fees at all
  • Wide selection of coins available
  • You can export a T5 statement
  • Sleek interface
  • Newton Pro for advanced traders in Beta stage

Cons

  • No Interac e-Transfer
  • Confusing for beginners
  • No CAD deposits and withdrawals
  • Very high spreads
  • No live chat support
  • No credit card deposits. Debit must be pre-approved.

Account Limits

No major limits

  • $10,000 max daily Interac e-Transfer deposit/withdrawal
  • $70,000 max weekly Interac e-Transfer deposit/withdrawal
  • $5,000 electronic funds transfer deposit
  • $50,000 electronic funds transfer withdrawal
  • $1M wire transfer deposit/withdrawal
  • $5M daily trading limit

Methods to buy

  • Credit or debit card
  • P2P platform
  • Interac e-Transfer
  • Wire transfer
  • Connect bank account

Security

  • 2FA
  • Anti-phishing code
  • $300 million insurance for lost assets
  • Daily exchange backups
  • Third-party custody of assets, mostly offline
  • Direct bank intergration to reduce fraud

Mobile and Desktop Trading

Bitget and Newton both cater to a world on-the-move with their mobile applications. Bitget boasts a 4.5-star rating on the Apple App Store and a 4.5 on Google Play, proving its reliability and user-friendliness for advanced trading even when mobile. On the desktop front, Bitget remains consistent, offering advanced charting and order book data. Newton, on the other hand, has a user-friendly mobile application with a 4.6-star rating on iOS but has no rating on Android. Many users find the desktop platform straightforward and intuitive, perfect for those new to the crypto world.

Bitget

The Bitget platform can be confusing for beginners since there is advanced charting and order book data. Bitget’s mobile app has a 4.4-star rating on the Apple App Store and a 4.6-star rating on Google Play

Trading crypto on Bitget from Canada

Bitget desktop view (trading screen)

Depositing money to Bitget

Bitget depositing screen

Bitget mobile app main screenshot

Bitget mobile app main screen

Bitget mobile app screenshot

Bitget mobile app (coins)

Newton

Newton has a user-friendly interface and a modern, clean look. It’s simple and easy to use.

Newton’s overall design is clean and modern. They also usual casual and friendly language. It doesn’t seem to take itself too seriously, which is refreshing. At first glance, Newton seems user-friendly and fairly simple.

Its iOS app has a rating of 4.4 stars with 5.6k reviews, and its Android app has a rating of 2.8 stars with 800 reviews.

Newton desktop interface

Newton desktop interface

Market order with Newton

Market order with Newton

Newton mobile app #1 (welcome screenshot)

Newton app interface

Newton mobile app #2 (cryptocurrencies available)

Newton app interface while trading

Security Compliance

Bitget uses two-factor authentication for security and emails you about logins or withdrawals. They offer an anti-phishing code for genuine emails and have a $300 million insurance for lost assets, which you can claim if not at fault.

Newton does daily backups to minimize risk and states on its website that customer data is stored in Canada. They also perform daily site backups, have offline third-party storage for digital assets, and they allow their customers to directly connect their bank account to reduce fraud.

Safety is paramount in the world of crypto. Bitget emphasizes this with its two-factor authentication, email notifications for account activity, anti-phishing code, and an impressive emergency insurance coverage of $300 million. Newton, staying compliant with Canadian FINTRAC regulations, provides mandatory two-factor authentication through the Authy app and has offline third-party storage for digital assets. However, Newton could improve in terms of transparency regarding the percentage of assets in cold storage.

Regulatory Compliance

Not regulated by Canadian financial institutions. 

Newton is fully compliant with FINTRAC regulations in Canada

When it comes to Canadian regulations, Newton stands ahead, being compliant with FINTRAC regulations. While the information regarding Bitget's compliance with Canadian federal organizations is not explicitly mentioned, it's crucial for traders to ensure any platform they engage with adheres to local regulations.

Customer support

Reviewers say customer support is unhelpful but most of them are beginners. Bitget is not a crypto exchange for beginners and if you do not know how copy trading or futures trading works, then it is not a good idea to use them, as this customer points out. 

Newton has FAQs and a knowledge center on the website. Customers can message the support teams either online via their support pages or through email. Newton does not have a phone and live support.

Customer support can make or break a user's experience. Bitget has faced criticism here with a 2.2-star rating on Trustpilot. Despite a few allegations of a "scammy" copy trading feature, many complaints might be from users unfamiliar with advanced trading concepts. Newton shines in this area with a 4.4-star Trustpilot rating and a swift response time, typically within four hours.

Conclusion

Both Bitget and Newton cater to different segments of the crypto trading population in Canada. Newton, with its beginner-friendly approach, fee-less structure, and strong customer support, is an excellent choice for newcomers. Bitget, with its vast array of features and tools, caters more to the advanced trader. However, given its diverse trading tools, low fees, and robust security features, Bitget emerges as the winner for those ready to delve deep into the world of crypto trading.

We recommend choosing Bitget over Newton for your cryptocurrency trading needs. By opting for Bitget through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.

If you find that neither Bitget nor Newton meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.

Author

Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.

He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.

His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.