If you are Canadian and tried to use Coinbase, you will quickly realize it’s not as simple to use for us.
It’s hard to fund and deposit because Coinbase does not accept eTransfers. The Paypal withdraw featured didn’t work for me. Not all the coins listed on Coinbase are available to Canadians. For this reason, it is best to use a Canadian crypto exchange.
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
Newton – Easy to use exchange for beginners with lots of altcoins. Best overall exchange for most people.
NDAX – Best for traders. Stake crypto to earn interest rewards.
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.
If you are trying to figure out which crypto exchange to sign-up for and you’ve got it narrowed down to Shakepay vs. Coinbase — The answer is Shakepay for funding/deposits with a Canadian bank account and Coinbase for trading and altcoins.
I’ve used both these platforms and apps for a couple of years. I also live in Canada.
Shakepay only offers Bitcoin and Ethereum compared to Coinbase, where you can choose from 100+ altcoins.
You can still sign up and verify your account on Coinbase as a Canadian — it is just easier to fund and withdraw crypto for a majority of people using Shakepay and eTransfer.
There are 11 Registered Crypto Asset Trading Platforms in Ontario. The following crypto asset trading platforms have received exemptive relief to offer crypto products to investors in Ontario. (Source)
Debating between Shakepay vs NDAX? I’ve been using both these exchanges for over two years at the time of writing this post update.
If you are buying crypto for the first time and wondering if Shakepay or NDAX are safe and legit exchanges — the answer is yes. I would recommend both exchanges to friends.
If you are a beginner and super confused by crypto and looking for the easiest way to buy Bitcoin or Ethereum — Sign up to Shakepay.
Want to trade Bitcoin or buy and sell thousands of dollars of crypto at the time, get the lowest spread fees — Sign up for NDAX.
It would depend on what coins you are wanting to buy, how much you are wanting to invest, and how what type of trader or investor you are to determine what exchange in best to use.
Here are some of the pros and cons of each exchange to compare from my experience.
This Shakepay vs Newton review is tailored specifically for novices in the Canadian crypto space. It aims to provide a straightforward guide to compare these two top crypto exchanges.
I’ll touch upon pros, cons, features, fees, spread, common risks, and debates among beginners, to help aid you in making an informed decision between Shakepay or Newton for your initial foray into cryptocurrency. My goal is to make your journey as smooth and rewarding as possible.
This comparison is based on my personal experience buying, selling, and trading on both of these exchanges for 3+ years. I regularly read comments on Reddit and social media to gauge community sentiment, how long transactions are taking to process, and any support or liquidity issues that may be cause for concern.
My Conclusion — If you’re new to buying Bitcoin in Canada, Shakepay is a great starting point. It’s user-friendly and perfect for beginners, allowing easy purchases with Interac e-Transfer. Use Newton if you want a larger altcoin selection and a lower spread fee when trading.
✅ TL;DR Newton vs Shakepay
Newton caters more to users seeking a wider range of cryptocurrencies and slightly more advanced trading tools, with the advantage of a lower spread.
Shakepay is excellent for those new to crypto, and looking for a straightforward, user-friendly experience with additional perks like Bitcoin rewards.
Summary — Choosing between the two largely depends on individual preferences, trading experience, and the importance of a broad crypto selection versus user experience. I use and am happy with and trust both exchanges.
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