NDAX review: The low-fee exchange to trade crypto?

NDAX had a 0.49% total BTC purchase fee (1st place) and a 0.26% + $4.99 total fee to cash out BTC to your bank (1st place). Out of 18 platforms tested and all fees considered, NDAX had the lowest fees for buying Bitcoin in Canada. NDAX’s staking service supports Ethereum (ETH), Polkadot (DOT), Cardano (ADA), The Graph (GRT), and Polygon (MATIC).

1. NDAX focuses on being a versatile platform to accommodate experienced and novice cryptocurrency traders.
2. Providing your SIN is optional, but it definitely weirded me out a little bit because other major exchanges have not asked for my SIN.
3. There’s also an option to stake some of the assets for further rewards.
4. An additional $3 million per occurrence insurance policy is in place for NDAX hot wallets and a $5 million policy for general business liability.

There is also a calculator to see the amount of crypto that will be received. 13 cryptocurrency assets that can be bought and sold on the exchange using Canadian and US Dollars. The digital currencies offered include BTC, ETH, LTC, ADA, XRP, BCH, UNI, DOGE, USDT, LINK, DOT, XLM & EOS. The selection of cryptos is quite limited and does not offer DeFi tokens. To compete with the global platforms that are available in Canada such as Coinbase, Gemini, Kraken and Binance, more cryptocurrencies should be added.

Yes, the cryptocurrency exchange is a regulated entity in Canada. It is currently managing thousands of active traders from the country. The platform also registers a record time as one of the end-to-end, fully compliant Canadian crypto exchanges. It also meets the regulations set by the local Canadian financial regulators. Since the NDAX account only deals with Canadian dollars, the deposit and withdrawal methods are limited.

Is it safe?

New users can create an account, verify their identity, and immediately start trading. At the time of our NDAX review, the platform is available only to people living in Canada. The Canadian Financial Authorities regulates this major crypto exchange. If the crypto exchange offers support to other countries, it leaves NDAX open to regulations from international authorities, which can be complicated.

Ambassador affiliates can add up to 20 users and get $15 per user. Partner affiliates can add over 20 monthly users and get $25 per referral. We try to keep our fees as low as possible, and in line with Canadian market averages. A crypto obssessed digital marketer passionate about making a difference in the world. When he’s not behind the computer he can be found hiking, camping and relaxing with his dog. If you’re unsure which coin to buy, this is the best place to be.

Eligibility and Application Process

These are the top 3 reasons why I like to recommend NDAX to Canadian crypto investors. NDAX cryptocurrency withdrawals are processed instantly and sent to ndax review the blockchain. The time it takes to reach your wallet depends on network congestion. Yes, NDAX is a trustworthy company registered as an MSB in Canada.

I don’t know why all the reviews…

In case of bankruptcy, fiat assets can be allocated to the authorized recipients. The NDAX over-the-counter trading desk gives crypto investors access to a diverse assortment of crypto assets and deep liquidity. It also allows conducting large-volume trades with no quote slippage. Straightforward and user-friendly, with the flexibility to withdraw at any time. While the trading function operates smoothly, I find the fees a bit high for short trading, hence the four-star rating. Nonetheless, it’s an excellent platform, particularly for Canadians, especially given the recent regulatory challenges faced by other exchanges in the country.

National Digital Asset Exchange, more commonly known as NDAX, is a Canadian exchange that allows retail and institutional traders to access a wide range of cryptocurrency assets. In this NDAX review, we will compare and assess the platform to see how it compares to the best crypto exchanges in Canada. The criteria for our analysis will include examining its features, deposit methods, available cryptocurrencies, ease of use, trading fees, security, and customer support.

Advanced Trade

It’s been around since 2018 and is known for its large selection of cryptocurrencies, currently at 14 and counting. In this full NDAX review, I’ll let you know the benefits, as well as the limitations, of dealing with this popular crypto trading platform. The platform would do wonders if it were also available in other countries. The platform helps users deposit their fiat funds via Interac e-Transfer, bank draft, and wire transfer. This e-transfer process is instant and does not take more than 20 minutes in the worst cases.

The most obvious difference, which is reflected in our Bitbuy review, is in the selection of cryptocurrencies available. While NDAX has more crypto coins and tokens available – 34 – Bitbuy isn’t far off with 25. The company is registered as a money service business with the Financial Transactions and Reports Analysis Center of Canada and Revenu Québec. Professional traders will appreciate having a detailed graph with each trading pair, with various tools and functions available to make price predictions easier. Experienced investors are going to be familiar with the trading window NDAX uses. However, even beginners will quickly learn how to place buy and sell orders.

Creating an Account

When crypto assets are moved from a cold crypto wallet, multiple approvals from their senior management are needed. Because it offers several trading execution methods, NDAX is the ideal exchange for users who want to explore various cryptocurrency trading strategies. Knowledgeable traders will be pleased to know that advanced order types are available through NDAX. Users can execute limit, stop, stop limit, fill or kill, reserve and iceberg, and trailing orders. NDAX is setting itself up to be a long-term, respectable cryptocurrency marketplace despite its young age.

NDAX is a regulated cryptocurrency trading platform established in 2017 by Bilal Hammoud, a Canadian entrepreneur. NDAX was designed to facilitate fast and simple exchange of virtual currencies for Canadian Dollars (CAD). The trading platform also offers advanced financial instruments such as OTC trading.

A bank draft or wire transfer will take up to 1 business day for clearance. One of the top crypto wallets available in the market, this product also enables long-term investments coupled with its storage capabilities. NDAX Product Wealth is the second key product offered by this platform. NDAX Wealth runs as an online over-the-counter service for digital asset trading. This trading desk and its OTC services are specially built to help institutional investors make large volume trades upwards of $200,000. No, NDAX provides its users with a cryptocurrency wallet through Ledger Vault for users to store their money for convenience.