This is a comprehensive review of the NDAX crypto exchange. This NDAX review features the benefits & pros, disadvantages & cons, fees, account features, coins available and more for crypto investing in Canada.
NDAX Review 2023 | Top Canadian Crypto Exchange
Hello, I’m Blooming Umoren.👋 In this tutorial, we are going to review NDAX, a top Canadian crypto exchange to buy, sell, trade and stake many coins and tokens.
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So let’s go straight into today’s tutorial:
Oftentimes, many ask: what is the best crypto exchange in Canada? NDAX stands as one of the best crypto exchanges in Canada for beginners and advanced crypto traders. Here’s why:
NDAX Overview:
1. What is NDAX?
The National Digital Asset Exchange (NDAX) is one of the best crypto exchanges in Canada to buy and sell Bitcoin and other cryptocurrencies instantly.
Founded in 2018, NDAX offers a robust, user-friendly crypto platform for beginners and advanced crypto traders. NDAX is headquartered in Calgary, Alberta and offers crypto services to customers in Canada is a simple, easy-to-use and secure crypto exchange to buy and sell Bitcoin and 28+ other cryptos instantly.
The platform is quite intuitive for beginners and provides powerful advanced trading features and tools for experienced and professional traders.
NDAX: Benefits & Pros
Users:
Excellent choice for both beginners and advanced traders. A robust Canadian crypto exchange with intuitive features for crypto newbies, intermediate and advanced crypto traders. NDAX’s platform provides powerful professional trading features and tools for crypto investing.
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Deposits:
NDAX offers free deposits for bank deposits in Canadian dollars and cryptos. That is, it features free Interac deposits from your Canadian bank account to NDAX account. You can also deposit cryptos for free into your account.
Withdrawals:
NDAX offers a $4.99 flat fee for withdrawal to your Canadian bank account. Whether you’re withdrawing $5,000 or $100,000 the fee will always be $4:99. Crypto withdrawal fees vary. Learn more
NDAX Fees:
NDAX offers one of the most transparent trading fees in Canada. No hidden transaction or trading fee. NDAX offers one of the most competitive low trading fees of 0.20% for buying and selling cryptocurrency in Canada. For example, when you buy or sell crypto for $1000, your trading fee is $2. Learn more
Staking
Earn more from your coins while you HODL! With NDAX, you can stake your crypto easily and collect rewards through regular payouts. Learn more
Customer Support:
Offers 24/7 live customer service support including email, chat and phone support.
Crypto offered:
NDAX offers 28+ coins. These include Bitcoin, Ethereum, XRP, Bitcoin (LTC), EOS, Stellar (XLM), Dogecoin (DOGE), Cardano (ADA), Tether (USDT), ChainLink (LINK), Polkadot (DOT), Uniswap (UNI), The Graph (GRT), Compound (COMP), Aave (AAVE), Polygon (MATIC), Shiba Inu (SHIB), Fantom (FTM), Terra (LUNA), Axie Infinity (AXS), Decentraland (MANA), Hedera (HBAR), Avalanche (AVAX), Solana (SOL), Algorand (ALGO) and many more.
This implies that you can fund your NDAX account with Canadian dollars directly.
How To Fund Your NDAX Account?:
NDAX offers multiple funding and deposit methods including Interac e-transfer, bank draft, wire transfer and crypto.
The easiest way to fund your NDAX account is via Interac e-transfer. Once you initiate the Interac e-transfer from your bank, it takes as little as 30 secs for the funds to show in your account.
To ensure your Interac e-transfer goes through without any hassle, ensure you include your unique reference code in your Interac transfers from your bank to NDAX.There’s usually an option to include a note or message with your Interac transfer, ensure you include your reference code there.
Without this reference code, NDAX will be unable to match your deposit to your account. Also ensure that the name on your bank matches the name in your NDAX account to avoid any delay in deposits.
Crypto Transfer To Wallet:
NDAX supports transfers of your crypto from your NDAX wallet to other crypto exchanges platforms or cold wallets 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.
To get your Ledger wallet from the official website, click here
SHOP LEDGER NANO X? CLICK HERE
How To Open An NDAX Account?:
To get started, sign up here. NDAX offers instant id verification for new clients which means you can start buying any crypto as soon as you create and fund your account.
To open an NDAX account, you’ll need to provide these information:
- Name
- Username
- Password
- Phone number
- A valid government issued photo ID e.g. driver’s license, passport, provincial ID card
- A selfie of yourself
Once your account registration is complete and verified, you can then fund your account via Interac e-transfer for ease.
To sign up, click here and receive a $10 bonus when you fund your account with $100 or more and buy any crypto of your choice.
NDAX Referral Code & Program:
To earn $10 sign up bonus, click here
With NDAX referral program, the more friends you refer to NDAX, the more money you make. You can earn up to $25 per referral. In addition, you’ll receive a 10% commission whenever the referral trades on NDAX. NDAX Referral Program is in 3 Levels: Avid, Ambassador and Partner.
Avid:
- 0-10 users monthly
- Give $10, get $10
- Commission 10%
Ambassador
- 10-20 users monthly
- Give $10, get $15
- Commission 10%
Partner
- 20+ users monthly
- Give $10, get $25
- Commission 10%
Other Features:
Same-day deposits and withdrawals, fast processing times for deposits and withdrawals, 24/7 live customer support, referral program, advanced order types – stop order, trailing stop order, limit order, secure digital asset storage, and many more.
NDAX: Cons
Serves Canadian Market Only
NDAX serves customers only in Canada and accepts only Canadian dollars for fiat deposit.
High Withdrawal Fees
NDAX charges a withdrawal flat fee of $4.99 per transaction to your Canadian bank account. This is quite high given that other exchanges such as ShakePay allow free withdrawals. Also, crypto withdrawals are not free.
Summary:
NDAX offers a user-friendly platform for both beginners and advanced traders. It offers one of the lowest trading fees in Canada with free fiat and crypto deposits.
It offers robust features such as instant account verification process, fast processing time for deposits and withdrawals and largest selections of crypto coins in Canada and crypto wallet withdrawals.
It offers a tiered referral program and 30+ coins for crypto trading & investing.
To start investing in crypto with NDAX,
✅ CLICK HERE TO SIGN UP
NDAX Frequently Asked Questions (FAQs)
Is NDAX Safe?
Yes, NDAX is safe. NDAX offers one of the highest levels of security standards across the Canadian FinTech industry. Majority of NDAX’s cryptocurrencies and digital assets are held securely in a cold hardware Ledger Vault wallet that requires multi-signature approval for access.
NDAX is also registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and AMF (Autorité des marchés financiers) as a Money Service Business.
NDAX complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and other applicable laws and regulations.
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