Security Compliance
Newton holds 80% of client assets offline in custodial cold storage with Coinbase and the remaining 20% in hot wallets secured by Fireblocks, with crypto assets covered by an insurance policy. Customer data is stored on Canadian servers with daily offsite backups, and the platform is tested internally every month and externally every year for vulnerabilities. Mandatory two-factor authentication and direct bank integration round out fraud protection.
Bitvo's exit was orderly and its record clean. It was a CSA-registered restricted dealer that operated on a full reserve basis, meaning it never lent customer funds, and held client assets with third-party custodians BitGo, with over 80% in cold storage. No customer funds were lost in the wind-down, and its refusal to close the FTX deal after the collapse protected its clients from being dragged into the largest fraud in crypto history.
Both Newton and Bitvo are compliant with FINTRAC regulations in Canada, a crucial factor when considering the safety of a crypto exchange. Newton provides daily site backups, offline third-party storage for digital assets, and allows users to directly connect their bank accounts for enhanced security. However, they do not disclose the percentage of digital assets kept in cold storage, a detail some users may find concerning.
Bitvo, on the other hand, holds 95% to 100% of assets in cold storage, with customer fiat funds held in segregated bank accounts, a multi-layered firewall infrastructure for exchange protection, and third-party screening for any cryptocurrencies looking to be listed
Regulatory Compliance
Newton is regulated by the Canadian Securities Administrators, FINTRAC, and securities regulators in every province and territory, a major step up from its early days as a FINTRAC-only MSB. It was among the first Canadian exchanges to pursue securities registration, and its affiliation with DV Trading adds institutional market-making depth behind its pricing.
Bitvo was registered with FINTRAC and as a restricted dealer with Canadian securities regulators, and that registration shaped its ending: rather than collapsing, its client accounts were transferred to another registered platform under regulatory oversight. Its successor chain: Bitvo clients to Bitbuy (November 2023), Bitbuy's parent WonderFi to Robinhood (2025). Former Bitvo customers with account questions should contact Bitbuy support.
As previously mentioned, both Newton and Bitvo are compliant with FINTRAC regulations, Canada's financial intelligence unit. This means both exchanges have implemented the necessary measures to identify, mitigate, and report potential money laundering and terrorist financing activities.
Customer support
Newton has FAQs and a knowledge centre on its website, with support handled through online tickets. There's no phone or live chat, and its middling Trustpilot score mostly reflects slow support and ID-verification frustrations rather than fund-safety issues. For simple buy-and-hold users the support model is adequate; anyone who values a human on demand should look at NDAX or Netcoins instead.
There is no Bitvo support team anymore. Former customers should reach out to Bitbuy, which assumed servicing of migrated accounts. If anyone contacts you offering to recover Bitvo funds for a fee, treat it as a recovery scam.
Newton offers a knowledge base on its website for commonly asked questions. To contact support directly, users have to navigate to the knowledge center and submit a support ticket. Despite this seemingly roundabout method, Newton's support team has been reported to respond impressively within four hours.
In contrast, Bitvo guarantees 24/7 customer support including live chat, email, and even a phone support option, a feature not commonly found in cryptocurrency exchanges.
Conclusion
Both Newton and Bitvo are reputable Canadian crypto exchanges with distinct advantages. While Newton offers a wider variety of cryptocurrencies, Bitvo's standout features include a customer satisfaction guarantee and their unique cash card. However, Newton's robust security measures, user-friendly interface, responsive customer service, and its no-fee trading policy make it the winner of this comparison.
We recommend choosing Newton over Bitvo for your cryptocurrency trading needs. By opting for Newton through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither Newton nor Bitvo 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.
