Ndax assures traders that there are no hidden fees for withdrawals—all fees are flat and not percentage-based. Traders can benefit from multiple fiat withdrawal options at low cost, including EFT (Direct Bank) for $4.99 CAD and e-Transfer withdrawal for $1.50 CAD. With limitless transactions, although e-transfer withdrawals have a $3000 limit per transaction, traders can withdraw their funds with ease.
I have used my account to learn about trading cryptocurrency and have had nothing but positive results. At first I opened this account from advice from a broker to receive funds. Long story short i had bad experiences with a couple of so called brokerage companies and got scammed. But I had to keep trying to learn about the market and trading as I am not a person who quit’s. So after that i started logging into NDAX and studying the platform to gain knowledge.
First-time users also receive $10 FREE signup bonus when registering with this link. I used it briefly and could not put on trades because it would always say “insufficient funds” even though I had plenty of money in my accounts to cover the trade. When transferring crypto back out to external wallets the fees were very high. When placing the transfer they will email saying “they have placed transfer under manual review”. Ndax primarily generates revenue through its flat 0.2% trading fee on every buy and sell order.
How does Ndax earn money (trading fees, spreads, commissions)?
It was on my account balance in 15 minutes, then I started buying crypto and keeping an eye on it. Then I just sold some to change to CAD and when I withdrew it went back to my bank account in 15 minutes as well via E transfer. There is a lot to know about trading and people who are brokers know more than anyone who is new to it. So be patient and always keep learning because there is a ton of knowledge to learn all about it.
How do I buy NDAX crypto?
- Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders.
- Ndax provides an integrated wallet for each supported asset, and fiat-to-crypto conversions are instant through the trading dashboard.
- However, because all pairs are CAD-crypto, and there are no crypto-to-crypto pairs, you might need to convert to CAD more often compared to global platforms.
- Compared to dedicated DeFi protocols or global platforms with lower fees, net APYs can be slightly reduced, but the convenience and local regulatory compliance can justify the premium for Canadian users.
Here you can learn about each asset’s history, use case, advantages, and much more. It’s a very well-crafted resource and a great way to familiarize yourself with ndax review any of the coins or tokens they’ve included. Whether you’re new or old in crypto, I’d recommend checking it out. For deposits and receiving, there are no fees, minimums, or maximums and will reach your account instantly or within one business day, depending on the method. Ndax provides fraud protection insurance on digital assets and ensures that CAD balances are protected through theCanadian Investment Dealer Fund, as per its CIRO membership. One of the strongest aspects at Ndax is the integrated staking platform.
Fees, Spreads and Commissions
- NDAX supports 26 trading pairs with two stablecoins and three different BTC markets and also offers a blog, an OTC desk for institutions, and educational material.
- The first and most important thing to recognize about NDAX is that it is exclusive to Canada, so that should be the first box to check before considering their services.
- While anyone can access their website and certain services, use of their exchange is limited to Canadian residents and will require KYC verification.
- NDAX also provides a live chat pop-up at the bottom right of the site, where you can access the aforementioned support center and also email support directly.
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. For Canadian-based crypto exchanges, NDAX supports a surprisingly large number of digital currencies, 14 in total. This includes major coins like Bitcoin and Ethereum and several alternative coins. To date, I haven’t found another Canadian crypto exchange that lets you trade as many coins.
Ndax has no minimum deposit requirement for Canadian Dollar deposits via Interac e-Transfer or wire transfer. You can fund your account with any amount, making it accessible for users of all budgets. There are also no deposit fees for fiat or supported cryptocurrencies. Ndax offers a focused but well-curated selection of spot cryptocurrencies, emphasizing breadth across major and emerging assets rather than releasing hundreds of highly speculative tokens. I appreciate that all supported coins trade directly against the Canadian Dollar, simplifying execution and risk management for Canadian investors.
NDAX Reviews 234
Overall, NDAX was the #1 cheapest platform to buy Bitcoin in Canada out of 20+ platforms we tried. NDAX also offers 2-factor authentication and DDoS mitigation which keeps your investment secure. However, no platform is 100% secure but NDAX does take all the necessary industry-standard precautions to protect users information and investments. NDAX offers access to 16 coins including world’s most popular cryptocurrencies including Bitcoin, Ether etc.
He has been investing in Bitcoin and cryptocurrencies since 2017. Out of 20+ platforms we tried, NDAX had the #1 lowest fee to buy Bitcoin in Canada. Yes, NDAX is regulated and registered in the province of Alberta as a Money Service Business (MSB). 0 BTC for new and unverified accounts, 2 BTC per day for basic accounts, 10 BTC per day and $500,000 per month for enhanced accounts. In Partner, there are 20+users and the user gets $25 while the referral gets $10.
Table of Contents
NDAX aims to be the most secure and compliant exchange in Canada. By using segregated bank accounts for user fiat funds, NDAX utilizes their banking relationships to keep funds separate from the exchange’s operating capital. This allows for all parties involved to receive funds in the event of insolvency. NDAX maintains strict Know Your Client (KYC) processes aligned with industry best practices. Every NDAX user must enable Two-Factor Authentication (2FA) in order to withdraw or deposit funds. Users are also required to confirm all withdrawals via email, acting as a third form of verification.
The global leader provides this storage in crypto security and infrastructure, Ledger Vault. Moreover, all accounts are protected by mandatory two-factor authentication (2FA) and alert notifications. The company was founded in 2017 and is one of Canada’s most advanced and secure trading platforms. Moreover, the brokerage serves all Canadians, regardless of their crypto trading experience.
Affiliate DisclosureSkrumble is free to use and supported in part by affiliate partnerships. This means we may earn a commission if you click on certain links or sign up for services through our recommended partners, at no extra cost to you. However, our content is written independently, based on hands-on experience, research, and a strong commitment to transparency. We only recommend platforms or tools we genuinely believe can bring value to our audience. Compensation never influences our evaluations, rankings, or opinions.
