@NoahA
I assume this is what you are doing.
What is the difference in trading cost?
How about leaving your coin on the exchange? Do you move it to your own wallet for security reasons.
I noticed that Newton claims never to have been hacked.
Yes, everything I have described I have done myself. I don't really trade crypto, so can't comment on the cost too deeply. For a while, Newton didn't even have limit orders, so they have come a long way! The charts are a total mess to be honest. You click on the 4hr and see a different price than on the 5 min. Its really a pain to try and use Newton for active trading I would think. But its a great on ramp. I mean look at other exchanges charging 1% or higher just to deposit your money! Obviously Newton makes back any savings on fees via the spreads, so don't get caught doing this.
I had to email support once because I assumed my limit order would fill at the price that I want. I thought the spread was built into the price, but its not. Right now for example, this is the latest price for bitcoin. The ASK is 29.72, BID is 29.18 lets say, and this means the actual price is about 29.5 (right in the middle). So your chart will show 29.5 as the current price, and say you have a buy limit set at 29.5, and you get no fill. Its very confusing to not get a fill. But because of the spread, your limit order will only fill once price drops down to 29.18 price, even though your limit buy is at 29.5
With FTX, it fills at the limit price you set and you pay a very small fee of less than 0.1% I think. This is at least 5x better than Newton. (assuming 0.9% spread, so about 0.5% for a buy or sell on either side of the price)
If you are trading crypto, then you clearly have to leave it on the exchange unless you plan to hold for weeks I guess. With Netwon, since the fees are so high, they don't need to do any lending I don't think like Voyager which did lending and then had to stop withdrawls. I guess Netwon can always be hacked, and what protections you have I'm not sure, even though they quote they are insured.
The bulk of my crypto is bitcoin and yes, its on a hardware wallet. I also have some Bitcoin ETFs, and I assume those have some sort of protections and they claim the assets are in cold storage. But like I say, I'm not trading crypto really. Maybe I would buy some more if I see a massive pump since a 5x or so should be easy when it really starts to move, but I don't see that happening anytime soon to be honest, so its just sitting in storage.
