NDAX Review A Compliant and Secure Crypto Exchange for Canadian Users

You can watch the performance of coins, make price predictions, and execute trades based on your analysis, all in one place. You can also deposit crypto to your NDAX account by transferring it in from an external crypto wallet. While NDAX does not charge fees for this, the transaction is still subject to blockchain fees, which are outside NDAX’s control and vary based on the coin and how congested the network is. We try to keep our withdrawal fees in line with market averages, while still ensuring that withdrawal transactions are processed promptly.

1. I got 2 withdrawals for $1500 stuck in the « Admin Processing » stage (USDC BEP20) and never got any response from their team about the reasons.
2. I have been using Ndax for about a year and I didn’t have any problems.
3. Ambassador affiliates can add up to 20 users and get $15 per user.
4. It is free to download and uses the same account credentials for logging in.

Canada, in particular, is one of the most powerful markets for crypto adoption. However, most Canadians are unsure which crypto exchange they should opt for. The National Digital Asset Exchange (NDAX) platform helps Canadians become successful crypto traders and investors.

Product details

The most common way to trade Bitcoin/CAD or other pairs is to place a market order at the desired price. Other order types offered include limit, stop, trailing stop, trailing stop market, fill or kill, reserve & iceberg and IOC. The wide variety of execution methods to fill a position is excellent and will suit a wide range of users with different crypto trading strategies. Canada-based NDAX is a cryptocurrency exchange that’s putting an emphasis on security and compliance.

NDAX vs. Coinsquare

There was no mystery discrepancy, the fee was a consistent 0.198%, lower than the advertised fee of 0.2%. I actually fetched a better price on my sale because NDAX quoted a BTC price that was 0.4% HIGHER than its live market price. Scams like the Airbnb crypto scam prey on the trust and urgency of users looking for good deals or quick solutions. If something seems too good to be true, or if a website or service is asking for unusual commitments or information, take a step back and investigate further. Payments under the referral program are made on a monthly rolling average basis. Avid affiliates can get $10 per referral and add up to 10 monthly users.

To be honest, there isn’t a lot that separates these two exchanges. Let’s take a closer look at the main functions of each platform. When you open an account with NDAX, you’ll be required to go through the same two-factor authentication (2FA) that banks employ on their online banking platforms. Our Website may link to external sites or content not controlled by us.

NDAX Alternatives

For perspective, if that $0.30 had not been deducted, my trade would have only cost me 0.67% in total. To buy crypto on NDAX, you can use the Quick Buy/Sell block on the right side of your dashboard. Select your desired coin from the dropdown menu, enter the amount you’d like to purchase, click BUY and follow the prompts. NDAX will give you a preview of the transaction and disclose the fees.

Products by NDAX

The exchange charges a 0.2% fee when you’re buying or selling cryptocurrency. For some context, this is lower than the trading fees on Coinbase Pro for trades under $10,000 (0.5%), but higher than Binance’s most basic fee tier (0.1%). NDAX’s 0.2% trading fee is well within industry standards and shouldn’t represent an issue unless you’re an extremely active trader.

Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. NDAX isn’t reinventing the wheel with its trading interface, but delivers a clean and intuitive trading environment that users should get accustomed to pretty quickly.

This is a piece I want to mention because it can really be a hassle to get your taxes going. The OTC broker for crypto called NDAX Wealth is very useful for institutional clients and investors with big pockets. Here you can easily deposit over $200,000 when a new opportunity arises through its deep liquidity pool. Canadian crypto traders will be interested to know the main differences between NDAX and Bitbuy.

NDAX is a legitimate and trustworthy company that is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The company adheres to Canada’s highest security standards and follows the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). NDAX offers insurance protection up to USD $5 million and customer funds are kept safe using cold wallet storage solutions by Ledger Vault. For users that are experienced with using price charts, NDAX Exchange has an advanced mode that has TradingView charts. The popular crypto charting suite includes a wide variety of technical indicators, chart patterns, and overlay drawing tools to perform analysis on the charts.

While I couldn’t find the exact percentage, NDAX states on their website that they hold the majority of their assets offline, in cold storage, for maximum security. NDAX only deals in Canadian dollars, so you can’t deposit crypto or any foreign fiat currency directly into your account. However, the good news is that deposits are free, regardless of the amount. The provision of tools and resources that empower traders to make informed decisions is central to the exchange’s design philosophy. The aim is to create an environment where trading is not just about transactions but also about knowledge-sharing and community building. The material contained on this website is for informational purposes only and RankFi.com, and its affiliates, is not soliciting any action based upon such material.

Not surprisingly, Vince never followed through on his commitment to call me, despite multiple attempts on my end to reach out. I then resorted to contacting their email support, only to be met with a response from Vince himself, claiming ndax that he was the person I had spoken to on chat. Hoping for some resolution, I attempted to reach out to their chat support today, but to no avail. All I wanted was a simple favor – for them to lift the restrictions on my account.

After entering your email, first name, last name, and password, you will be required to verify your email. After that, identity verification is required before you can begin trading. Personal and contact information is needed, and you’ll complete the know-your-customer procedure by uploading an image of a government-issued ID or passport.

Rest assured, NDAX really is one of the cheapest crypto trading platforms in Canada, even if the fees aren’t exactly transparent. Cryptocurrency trading on NDAX is protected with advanced blockchain technologies. Like other exchanges, transactional data is secured with multi-layered end-to-end encryption.