NDAX has some unique features compared to its competitors, including one of the largest selections of cryptocurrencies and low trading fees. Ndax protects Canadian dollar balances through coverage in the Investment Dealer Fund, offering additional peace of mind for fiat holdings. Additional services can significantly enhance the overall user experience and utility of a crypto platform, allowing users to benefit from features beyond simple trading. When looking at spreads, I find them to be relatively tight on major cryptocurrencies during normal market conditions, likely because Ndax aggregates liquidity. 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.
- NDAX allows you to earn interest on your holdings by staking them in its exchange.
- To use the platform, you to create an account and sign up using the official link here.
- NDAX has an easy-to-grasp and user-friendly interface ideal for beginners.
- Its interface is aesthetic and digestible, and the app makes pretty easy work of trading on the go.
Once you fund your account, you are ready to buy Bitcoin on Ndax.
- Ndax is also FINTRAC registered, licensed in all provinces and territories, and complies with local anti-money laundering and financial standards.
- Uniswap is known for its user-friendly interface and wide range of supported tokens, making it accessible for both novice and experienced traders.
- NDAX also provides a feature called as Instant ID verification which helps the user to start trading just after creating an account.
- In addition to the sleek and intuitive trading dashboard, NDAX also provides users various tools that they can use to analyze markets, different cryptocurrencies and trends.
- In addition, there are narrow spreads between the buy and sell prices on the exchange.
- In many cases, utility bills and bank statements are usually enough.
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 withdrawal process time from NDAX to your bank account can vary depending on several factors, including the method of withdrawal and the processing times of the banks involved. Typically, withdrawing fiat currency to a bank account may take a few hours to several business days.
Staking
For other options of crypto exchange, find an informative list and breakdown of the best crypto exchanges in Canada here. NDAX is a fully regulated Canadian-based crypto trading platform for both individuals and institutions. While anyone can access their website and certain services, use of their exchange is limited to Canadian residents and will require KYC verification. They’ve been operating since 2018 and have never been hacked or lost users funds.
Its interface is aesthetic and digestible, and the app makes pretty easy work of trading on the go. You’ll have to do a lot of scrolling to go back and forth between the markets, charts, and your orders, but their charts are powered by TradingView, which is always a plus. To create an account with NDAX, you’ll first have to create a login and verify your email. You don’t need an account to access the site or many resources, but it will be necessary if you are interested in trading.
NDAX Customer Contact Information
Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them. Founded back in 2014, Coinsquare is one of the first Canadian cryptocurrency platforms in Canada. NDAX has an easy-to-grasp and user-friendly interface ideal for beginners. As you can see from the photo below, it only takes a glance to see where everything is.
Withdrawals can be made to a Canadian bank account via Interac e-Transfer (for up to $3,000 per transaction) or wire transfer for larger amounts; both incur a small fee. Crypto withdrawals require specifying your destination address and include a fixed network fee depending on the asset. Processing times for fiat deposits and withdrawals are typically same-day for e-Transfers and up to one business day for wires, while crypto transactions can vary based on network congestion. Ndax provides an integrated wallet for each supported asset, and fiat-to-crypto conversions are instant through the trading dashboard. Bitbuy, headquartered in Toronto, is one of Canada’s most popular cryptocurrency exchanges.
NDAX Referral Program
Founded in 2013 as InstaBT, it rebranded as Bitbuy in 2016 and became the first cryptocurrency exchange to receive full approval from the Ontario Securities Commission. The platform is tailored towards Canadian traders who are seeking an easy way to buy and sell popular digital assets, but is Bitbuy worth it? They are fully registered with FINTRAC, with over 400,000 Canadian users and more than $5 billion in transactions traded on the platform to date.
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. I took the time to personally sign up, deposit, and trade on Ndax so I could give you credible, firsthand feedback.
Verdict – Bitbuy
The platform even extends courtesy phone calls through their support line to confirm withdrawal actions and offer advice. These offerings present significant benefits compared to other exchanges where you might encounter deposit fees. The platform stands out by consistently ensuring low-fee services across various operations.
In addition to the trading platform, another exciting feature is NDAX Wealth, an Over-The-Counter trading service ideal for users who want to buy at a fixed rate. These efforts are in place to prevent the misuse of their services for money laundering or terrorist financing. Overall, users have recognized NDAX for its exceptional customer service, contributing to a positive experience on the platform. Some users describe it as professional and courteous, and it has been praised as the best among Canadian exchanges. 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. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein.
NDAX also conducts strict employee screening, training, and daily audits on ndax all security measures, further emphasizing their commitment to user security. Choosing a Canadian exchange is always the safest and most secure option for Canadian traders. Let’s look at the different security measures that each platform has implemented to keep your assets safe. Bitbuy is the overall winner because of its beginner-friendly interface, FINTRAC registration, lower withdrawal fees and it’s the most secure and trusted exchange in Canada.
My Review of the Ndax Crypto Platform (September
Additional details like verification of identity and phone number are required by the platform. You will need to enter basic details like name, username, email address, password and agree to the terms and conditions and private policies of the platform. See how NDAX Canada compares with Bitbuy, Coinsmart, and Wealthsimple Crypto below. For more details about what the platform has in place to protect your account, the risks you face, and their privacy terms, check the NDAX website. Savvy New Canadians content is vigorously reviewed for accuracy by our team of qualified fact checkers. Ndax is operated by National Digital Asset Exchange Ltd., a Canadian company headquartered in Calgary, Alberta.