Banks Blocking Coinbase - Try Newton Exchange - Cheaper, Faster
When it comes to buying crypto I know we have so many ways these days. With coinbase being the main one as it is the biggest. It does have very high fees but it was always the most convenient way to buy, until recently my bank blocked all transactions to coinbase so that means finding a new way to buy crypto.
This brings me to Newton
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Easy crypto trading for Canadians.
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FTX
With the FTX news, I don't recommend as always leaving more than you can afford to lose on any exchange.
Not your key, not your crypto remember that quote the whole time you are in crypto.
That means this new platform for me is mostly or only for onboarding, I mean I could trade crypto on it but I am more of the hold and sell the later type of person. I have or will do some trades but with this news going on with exchanges I am not sure it's worth the risk to leave more than $20 on an exchange.
Newton
With Newton, I do an e-transfer and have my funds in and off the exchange within 1 hour so that's a great bonus.
Somethings I have found is they do use coinbase vault so not 100% sure that is a safe place but like I was staying if your looking for a new place to onboard in Canada check it out.
Just going over a few features that I like and think can come in handy
E-transfer - This is sent from the bank to the exchange within 30 mins. That is good for dips but also means you shouldn't have to leave fiat on the exchange.
Recurring Buys - This means leaving some money on the exchange but also means you will be able to DCA (Dollar Cost Averaging) daily if you want. With the e-transfer, you don't have leave more than a couple of days worth of buys on exchange.
Fees - With no deposit or withdrawal fees I welcome that. I know a few don't but some exchanges charge massive mining fees for no reason. (Like yesterday I paid $1.00 to withdraw BCH when it would be closer to 0.10 on another exchange).
Withdrawal mining $5 paid - Now how sustainable this is I am not sure but for most chains we know the fees are close to nothing or they try to get them at this point. With coins like ETH, BTC we know during peak times this goes way higher.Bold
In conclusion, if you are looking for a place to buy crypto in Canada and you don't like it or your bank blocks coinbase give newton a try. I mean still to date for me the best way to buy crypto without KYC is a BTC ATM with direct send to your own wallet.
Not financially responsible for your losses due to your own due diligence
