Additional services can significantly enhance the overall user experience and utility of a crypto platform, allowing users to benefit from features beyond simple trading. One of the strongest aspects at Ndax is the integrated staking platform. This adds real utility for long-term holders looking for yield without leaving the platform, and the flexible lockup and payout structures enhance user experience. Both NDAX and Bitbuy’s standard trading fee is similar (.20% to buy/sell), but Bitbuy maker trades are only .10%. NDAX has its own Over-The-Counter trading platform called NDAX Wealth, for investors who need to trade $200,000 or more. NDAX states on their website that OTC traders benefit from highly personalized service, a dedicated slack channel for accessible and secure communication, and no price slippage.
- He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future.
- Ndax has an Over The Counter (OTC) trading desk called Ndax wealth which is suited for large institutional investors or High Net Worth Individuals.
- Savvy New Canadians is one of Canada’s top personal finance platforms.
- They feature a dedicated page on their website that explains both transfer and trading fees in a language that’s easy to understand.
- In this section, we are going to look at some of the pros of using NDAX for buying and trading cryptocurrencies.
This post is about NDAX review and we look NDAX pros, cons, fees, supported coins and NDAX referral plan. After using NDAX for several years, it’s my go-to crypto exchange for buying Bitcoin, Ethereum and USDC with $CAD because I can’t find anything cheaper. I’ve tried lots of platforms to find Canada’s lowest cost option, and NDAX is it. If you’d like to sign up, click here to get $10 free when you deposit $100. NDAX has a fixed trading fee of 0.20% and doesn’t make money from the spread, unlike many other Canadian platforms. Overall, NDAX was the #1 cheapest platform to buy Bitcoin in Canada out of 20+ platforms we tried.
Coins Supported
Registration is painless, the interface is easy to navigate and the fees are straightforward. Yes, NDAX is registered with Financial Transactions and Reports and Analysis Centre of Canada and majority of all assets of NDAX are offline in cold storage so NDAX IO is safe. NDAX offers access to 16 coins including world’s most popular cryptocurrencies including Bitcoin, Ether etc.
Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets. For more details on the categories considered when rating brokers and our process, read our full methodology. To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy. Bitbuy is the winner in terms of security, as it is the most trusted and secure exchange in Canada and hasn’t been hacked ndax since its establishment in 2016.
I don’t just stick to BTC and ETH—I like exploring smaller tokens, so I prefer exchanges with a broader range. Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.
Instant Approval Credit Cards for Bad Credit in Canada
- Withdrawals out of the account to Canadian dollars are a bit pricey at $25 each, but the fee is standard on all amounts, which is nice.
- In addition, you can easily check your order history and past trades, as well as your open orders.
- The platform implements bank-grade security measures, such as cold storage, two-factor authentication (2FA), and regular audits to safeguard user assets.
- The customer service seems fast, reliable and is available whenever needed.
However, the fee structure is transparent, and users can easily calculate how much they will pay for each trade based on their volume. However, they also don’t support CAD directly—you’ll need to use crypto already in your wallet to start trading. NDAX, for example, charges a flat CAD withdrawal fee, while others may offer free crypto withdrawals to certain wallets.
Accessibility
However, specific details like the minimum staking amount can change over time. Transactions on NDAX, like any other cryptocurrency exchange, can be taxable events. In many jurisdictions, trading, selling, or using cryptocurrencies for purchases may trigger capital gains taxes or other tax liabilities. It’s recommended to consult with a tax professional for advice specific to your situation. The platform demonstrates its commitment to security and compliance in its operations.
Trading Platform
I place particular confidence in platforms that are licensed across all provinces and provide CIPF protection for CAD balances—this is rare in the crypto space. If you’re interested in opening a crypto trading account with NDAX, the process is an easy one. To get started, head to the NDAX website, and select the “Sign Up” button. You’ll need to provide NDAX with your name and email address, in order to set up a user name and password. Whether you are an experienced trader or someone who is just getting started in the crypto market, NDAX has plenty of resources that can help you make your trading successful. The platform stores most of its assets in cold wallets which makes it difficult for hackers to access your funds.
How do I transfer money from NDAX to my bank account?
Overall reviews suggests that NDAX is a dependable cryptocurrency platform. The tiers and earnings depend upon how many new users you can bring to NDAX platform in a month. National Digital Asset Exchange (NDAX) is an online crypto-trading platform. Kraken Pro is fully regulated in Canada and offers 250+ cryptos, professional trading, and high liquidity. While NDAX is considered safe, you still shouldn’t hold large balances on a centralized platform.
Bitbuy accepts deposits via Interac e-Transfer, Wire Transfer and Cryptocurrency. Let’s start off our comparison with a look at the various fees charged by Bitbuy and Ndax. Ndax is operated by National Digital Asset Exchange Ltd., a Canadian company headquartered in Calgary, Alberta. The company is led by an experienced team with backgrounds in finance, technology, and regulatory compliance. Information about key executives is available on the Ndax website. You can enable 2FA during setup for improved account security; always ensure your contact email is up-to-date.
Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer and Wire transfer. With an overall Trustpilot score of 3.4 out of 5 based on 216 reviews, Ndax receives a mixed reception from its user base. Tom Drake is the owner and head writer of the award-winning MapleMoney. With a career as a Financial Analyst and over a decade writing about personal finance, Tom has the knowledge to help you get control of your money and make it work for you. I hope it has helped you gain a better understanding of the platform. The first step is to create an account with NDAX (it only takes a few minutes).