NDAX Review How Does This Crypto Trading Platform Compare?

NDAX Review How Does This Crypto Trading Platform Compare?

Simply create an account on NDAX, send your bitcoin from your other address to the NDAX wallet, trade your bitcoin for CAD, and lastly send your Canadian dollars to your own bank account. NDAX offers a set of powerful cryptocurrency trading tools for Canadians. The platform is a solid choice if you want a regulated exchange that’s easy to sign up for and not too hard on the wallet. But you can only open a Ndax account if you live in Canada, and CAD is the only supported fiat currency.

Regulated Crypto Exchanges in Canada: What You Need To Know

Recently, they added the option of an e-transfer for $1.50. While I personally prefer the EFT withdrawals, I’m not crazy about the fee. I typically choose the free method, even if it means waiting longer to receive the cash. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. Ndax doesn’t just cater to individual traders; it also offers a range of tools for institutional traders.

Learn to get uncomfortable to save money

That’s where my Ndax review comes in, as I want to highlight one such platform that might be a great option for your trading journey. The platform demonstrates its commitment to security and compliance in its operations. NDAX’s client funds are held in a segregated Canadian bank account, separate from the company’s operating capital and other lines. This adherence to local banking laws provides users with an additional layer of safety. NDAX withdrawals have flat fees of $4.99 for Interac e-Transfers and wire transfers.

• Finally, the last Canadian company you should look into is Coinsmart, a cryptocurrency trading and investment platform founded in 2018.
• Their offering is a solid set of digital assets, covering the bases for new investors and giving more seasoned investors exposure to more speculative options.
• The professionals can access advanced charts with analysis tools such as trend lines, measurements and predictions, and annotations.
• By offering these services, Ndax helps businesses manage their digital assets more efficiently.
• I like their app, there are some things that they could improve on.
• Withdrawal fees are competitive at $25 per wire or bank transfer.

NDAX Support Channels

However, after hours the chat-bot will collect your details to be contacted the next day. NDAX users will benefit from using one of the most powerful charting packages available in the market and can understand how to read a candlestick price chart and analyze price history. For beginners, the chart can be changed to a simple line chart to see the short, medium or long-term price trend. Savvy New Canadians is one of Canada’s top personal finance platforms.

Fees and Deposit & Withdrawal Methods

The exchange also lists a number of Layer 1 blockchains and Proof-of-Stake cryptocurrencies. All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. Overall, both platforms are more or less the same quality ways. But for smaller investors, the $25 NDAX withdrawal fee is a big drawback.

• Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course.
• NDAX, on the other hand, offers free deposits but a just as high flat fee of $25 for withdrawals.
• NDAX is extremely secure, regulated, and has a great customer support system, but it supports fewer assets and has higher trading fees.
• Technical traders will enjoy this interface and thanks to the Tradingview charts, it’s free of lag.
• On the contrary, the platform encourages users to invite friends and join the affiliate program to earn rewards.
• NDAX also has a referral program where you can earn 10% of the trading fees from your referral’s trades, up to a maximum of $1000 per person referred.

Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers. To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. Ndax is well-suited for Canadian crypto traders on the hunt for the lowest trading fees, a user-friendly interface, and are primarily focused on popular cryptocurrencies. I love this platform for beginners thanks to its straightforward dashboard and low fees, which are particularly beneficial for anyone making smaller trades. It’s registered as a Money Service with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

When making financial and legal decisions and commitments, we strongly ndax review recommend you consult your professional financial and legal services provider. From making 2FA mandatory to allowing whitelisting of addresses, it’s really got everything you need from an exchange. It also has the most detailed and transparent information about its security features we’ve seen.

The Ndax exchange operates under strict regulatory standards set by the Alberta Securities Commission (ASS) and the Canadian Securities Administrators (CSA). In addition, Ndax has enhanced investor protection measures. They assess users’ knowledge and risk tolerance before allowing them to trade. Plus, Ndax sets loss limits to protect users from big market swings and keep clients informed in timely updates on regulatory changes and platform updates. The platform sets high standards in the global fintech industry through advanced security measures. They’re the first Canadian crypto platform to get the SOC 2 Type 2 certification.