Security
Coinberry and Newton are secure exchanges. They both require new customers to provide government-issued identification and be verified before they can trade. Coinberry keeps up to 97% of its coins in cold storage, while Newton says it keeps “most” of its assets offline, held by a third-party custodian called Balance. Newton does daily backups to minimize risk and states on its website that customer data is stored in Canada.
Regulatory compliance
Coinberry and Newton are both fully regulated in Canada. The exchanges are registered with FINTRAC and are PIPEDA-compliant. Coinberry has a $200M insurance policy with Gemini Trust Company LLC™. Coinberry also states on its website that it is backed by a “financial insurance bond” which covers any unethical acts from Coinberry employees.
Customer support
Coinberry and Newton have FAQs and knowledge centres on their websites. Customers can message the support teams either online via their support pages or through email. Neither exchange offers phone support, but Coinberry has live chat available.
Conclusion
Both Coinberry and Newton offer Canadians a fast, simple, and secure way to buy cryptocurrency in Canada. Coinberry offers peace of mind with 97% of its digital assets held in cold storage and its $200M insurance policy. However, we think Newton is the winner here because it offers a wide selection of coins and absolutely no fees. Newton will soon be suitable for experienced traders as well. Their Pro tool, offering advanced order types live charting, and more, will be released in the near future, but you can request access now. If you’re looking for the cheapest and simplest way to purchase the most popular coins, Newton is the better choice.
On top of these two, we would recommend Coinsmart for a number of reasons. Why? Check on our Coinsmart review.
