Whether to diversify, hedge against inflation, or simply have fun, the cryptocurrency market is more accessible than ever, offering something for everyone.
Those enigmatic digital coins with offbeat-sounding names like Bitcoin, Ether, Solana, and Doge are fast gaining traction with institutional and retail investors.
A recent KPMG survey of Canadian institutional investors and financial service companies reports that 32 percent of institutional investor respondents have direct or indirect exposure to crypto assets, with 29 percent owning crypto assets directly. A supplementary poll by KPMG found that 13 percent of the 1,000 Canadian respondents surveyed have already bought Bitcoin or Ethereum directly, while 11 percent have purchased Bitcoin exchange traded funds (ETFs) or other crypto asset funds.
The COVID-19 pandemic, which ushered in a rapid digital transformation for businesses and people, helped spur interest in cryptocurrency. As a result, many of the crypto-curious who were working from home had the time to explore it further and get started.
“The news of Bitcoin surging by 300 percent in 2020 amid speculation that investors were piling into the digital currency also helped bring new investors to the cryptocurrency space, further heightening the awareness of crypto,” says Maggie Drinkwater, Director of Product at Newton Crypto, a Canadian crypto trading platform.
Maggie Drinkwater
Director of Product, Newton Crypto
Dustin Walper
CEO, Newton Crypto
Fast and furious adoption of cryptocurrency
There are plenty of reasons to explain this fast and furious adoption of crypto. Because crypto is self-governed, investors have complete control over what they own and how they use it. Owing to its decentralized nature, cryptocurrency is not stored by a financial institution like a bank, so investors are not beholden to fees, rules, and working hours. Crypto also transcends borders because it’s not controlled by governments, meaning investors can access their crypto wherever and whenever they want. Some people see crypto as a good hedge against inflation.
“Because many cryptocurrencies are designed to be deflationary, they allow users to take control of their investments to the degree that simply isn’t possible in traditional finance,” says Drinkwater. Beyond investing, the crypto space can be a fun place to be. “There’s community, art, gaming, all on a global scale.”
We believe that anyone who wants to invest in crypto should be able to do so at a low cost, so fundamentally Newton is for people who love crypto.
There are equally many nifty ways to use crypto, with more innovative ones emerging all the time. For example, you can use crypto purchased non-fungible tokens (NFTs) to sell ownership of unique digital items like art, graphics, music, or videos or earn an Annual Percentage Rate (APR) by making your crypto tokens available for loans. You can also use crypto as a savings account for low-cost money transfers and make a purchase. Amazon, for example, will let you purchase goods using Bitcoin.
Adding to the appeal is the fact that there’s an entire crypto community (“degens”) out there. “They are incredibly active online, so there’s a wealth of information available to anyone with an internet connection and a desire to learn more,” says Drinkwater. “You don’t need to be a Yale grad hooked into a Bloomberg Terminal to be able to participate,” she says.
For the love of crypto
With barriers to entry shrinking, owning cryptocurrency is no longer the exclusive domain of experienced traders or folks with scads of money. Investors of all types, knowledge, and means can buy, sell, and hold cryptocurrency through an online platform.
The Newton Crypto platform is one of them. As one of the largest Canadian players in this space, Newton Crypto offers easy and low-cost options to novice, intermediate, and highly experienced investors. “Our mission is to put financial decisions back in Canadians’ hands by making crypto simple and accessible,” says Dustin Walper, CEO at Newton Crypto. “We believe that anyone who wants to invest in crypto should be able to do so at a low cost, so fundamentally Newton is for people who love crypto,” he says.
Support for new, intermediate, and experienced traders
Through the Newton platform, investors can buy and sell on any device and obtain some of the best cryptocurrency rates available in Canada. Newton offers over 70 digital coins to people to invest with and spreads that are similar to those of major exchanges — all with great spreads and zero commissions or additional fees. A strong and growing customer support team ensures that all inquiries and concerns are handled promptly, and security is of utmost importance. “We want cryptocurrency to be taken seriously, so we go above and beyond to make sure we’re compliant with current and anticipated Canadian regulations,” says Walper. Customer data and cryptocurrency is stored in secure locations using institutional-grade storage.
Investors can set up and fund their accounts within minutes and transfer funds seamlessly via Interac® e-Transfers, wire transfers, or by connecting their bank account. Newton makes it easy to move cash to the platform with a user-friendly funds transfer capability. Account owners can also withdraw funds without fuss, headaches, or hassles. Best of all, you can transfer cryptocurrency to and from your account at low cost because Newton will cover the network fee of up to five Canadian dollars. “We’re uniquely focused on what our customers want. It’s a simple strategy, really,” says Walper.
Here are some wise words from Walper: “It’s a big world out there, so start slow, do your research, and you’ll have fun.”
