Step 1: Open NDAX Account?
Log into your NDAX account. Don’t have an NDAX account?
SIGN UP HERE & GET $10 CASHBACK
Step 2: Add Funds
Add funds to your NDAX wallet. The easiest way to fund your NDAX wallet is via Interac. On your phone, click on the “Wallet” icon.
- Under: Wallets, you’ll see 3 tabs – Favorites, Crypto, and, Fiat
- Select Fiat
- Click on the CAD showing your Canadian dollar balance. Usually it’s $0.00
- At the lower bottom, select Deposit
- Input the deposit amount
- Click Confirm
- Next, the Interac Instruction is displayed.
- Name: NDAX PAYMENT
- Unique Message Code (To avoid any delays, ensure you include this unique message code in the message or notes section of your Interac e-transfer
- Security Question: WHY NDAX?
- Security Answer: Check your NDAX account
- Ensure you only copy and paste this information directly from NDAX to your Canadian bank account. Do not type it out to avoid errors. Simply copy and paste.
Step 3: Send Interac
Next, log into your Canadian bank account and send an Interac to NDAX with the same amount initially requested per the instructions in steps 2
- You’ll receive an email from NDAX with subject line “Deposit is Pending”
- Once the deposit is made, you’ll receive another NDAX email with subject line “Deposit was Accepted”
- Immediately your NDAX account balance is updated, you’ll receive a 3rd email with subject line “Deposit Made”
- Ensure the name on your bank account matches the name on your NDAX account.
Step 4: Buy Bitcoin
On your phone, click on “Quick Trade”
- Under Order Size, enter the dollar amount of Bitcoin to buy e.g. $100
- Once the dollar amount is entered, the corresponding Bitcoin quantity is displayed.
- To use all the dollar amount in your NDAX wallet, click 100%
- Else, enter the dollar amount of Bitcoin to buy
- Then click “Buy BTC” at the bottom of the page
- Confirm transaction page is displayed
- Click “Confirm”
- Order confirmation page is displayed: Just bought Bitcoin
- Congrats! You just bought Bitcoin
Step 5: Transfer Bitcoin To Ledger Nano X:
Next, it’s important to transfer your Bitcoin to your cold wallet such as Ledger Nano X.
As explained in our Crypto Investing for Beginners, it’s essential to move your crypto offline to a cold wallet such as Ledger Nano X and never leave it on any crypto exchange.
Remember, the first rule for investing in cryptocurrency is: Never Leave Your Bitcoin or any crypto on any exchange to prevent loss due to theft, hacker & rug pulls.
To get your Ledger wallet from the official website, click here
SHOP LEDGER NANO X? CLICK HERE