Ndax Review: Safety, Fees, Pros & Cons

Ndax Review: Safety, Fees, Pros & Cons

Funds deposited from a Canadian bank account into your NDAX are free. Although there are exchanges where you can stake a wider choice of assets, NDAX have told me that they plan on expanding what can be staked in future. Finder CA is an information service that allows you to compare different products and providers. We do not recommend specific products or providers, however may receive a commission from the providers we promote and feature. Ndax is a custodial platform, which means they take care of storing and securing your coins for you. That’s a great feature for beginners since managing your own private keys can be complicated and overwhelming.

Tools

• You don’t need an account to access the site or many resources, but it will be necessary if you are interested in trading.
• Let’s take a closer look at the aspects that make it a compelling choice for crypto enthusiasts in my Ndax review.
• Whether you’re looking to place limit, stop, or trailing-stop orders, Ndax’s Advanced Trading tool will help you.
• NDAX offers a flat trading fee of 0.2% per buy and sell trade which is very competitive when compared to the best crypto exchanges in Canada.
• First, select your country of residence, then include your first and last name, username, email address and password.
• NDAX charges a fixed 0.2% fee for buying and selling, no matter how you trade.

NDAX also offers around-the-clock service to assist clients with all their trades. NDAX, short for National Digital Asset Exchange, is an up-and-coming Canadian cryptocurrency exchange established by Bilal and Hussein Hammoud in 2018. The exchange is headquartered in Calgary and offers an intuitive trading platform as well as a full range of crypto trading services for beginner and experienced traders throughout Canada. As a result, the company places itself among the cheapest Canada-based cryptocurrency trading platforms. The processing time for withdrawals and deposits is also very competitive. This means you can always reach out and receive assistance whenever it’s needed.

NDAX Trading Platform

As a new exchange, it is consistently adding new alt coins for its Canadian userbase. After signing up, you will need to verify your account and ‘Know Your Customer’ information, which is required for compliance with Canada’s financial regulations. To do so, you will be asked for your Social Insurance Number (SIN), which is optional but will speed up the verification process.

Download App

BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, ndax review do consult your financial advisor. However, like any investment, staking on Ndax also comes with risks. The primary risk is the potential for asset loss if the value of the staked cryptocurrency decreases. Additionally, while your assets are staked, they are locked up and can’t be traded or used elsewhere. This lock-up period varies depending on the staking plan and the cryptocurrency.

Key Features of NDAX

It adheres to various Canadian financial laws, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. This ensures Ndax operates within the legal framework established by Canadian authorities, making it a safe and compliant platform for crypto trading. However, unlike Binance and Bybit, which offer worldwide trading services, Ndax is a Canadian-focused trading platform. This means those outside Canada can’t use the full features of this exchange.

• It allows residents within Canada to buy, trade, and sell 12 cryptos such as BTC, ETH, DOGE, and others.
• This commitment to safety and regulation helps build trust with users, answering the commonly asked question, “Is Ndax safe?
• First-time users also receive $10 FREE signup bonus when registering with this link.
• We tested NDAX by sending $100 to our account via Interac e-Transfer.
• Speaking of asset protection, Ndax holds client fiat in segregated bank accounts, separate from their operational funds.
• You should receive the funds in your Canadian bank account within one business day.
• To make comparing even easier we came up with the Finder Score.

The typical wait time for responses to email queries is hours. However, you can contact the NDAX support team by phone for a faster response as well. Advanced traders are generally familiar with the account opening process, but beginners new to the crypto world may be questioning how the process works.

There are no deposit fees for Interac e-Transfers, wire transfers, and bank drafts/certified cheques. Yes, NDAX is a trustworthy company registered as an MSB in Canada. It uses state-of-the-art encryption technology and stores all crypto funds offline in cold wallets. On the contrary, the platform encourages users to invite friends and join the affiliate program to earn rewards. To become an affiliate, use your NDAX login to get a unique affiliate link.

This fee includes spread and foreign currency conversion costs without any hidden charges. NDAX’s offers a low-fee alternative to popular exchanges used in Canada such as Crypto.com, CEX.IO and MyBTC.ca. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets. NDAX has a scrolling sidebar, which makes the desktop platform easy to navigate.

NDAX, which stands for National Digital Asset Exchange, is a Canadian crypto exchange that provides a secure platform with low trading fees and strong security measures. It comes with fee-free deposit options like Interac e-Transfer, bank draft, and wire transfer. The platform offers a user-friendly trading environment complemented by efficient customer service. NDAX offers a solid selection of cryptocurrencies for trading, and supports a nice variety of options for funding accounts with fiat currency. The trading fees are very reasonable, and the exchange also sports convenient features like the Portfolio and Recurring Purchases. NDAX is a great Canadian cryptocurrency exchange for beginners as well as more advanced traders.

How Much Does it Really Cost To Trade With NDAX?

After confirming your password, you must click on a box stating you are over 18 years of age and agree to the exchange’s terms and conditions. When you do so, an activation email will be sent to finish the registration process. After clicking on the activation link, you will receive a confirmation email along with a message for you to verify your identity. Best of all, since NDAX operates a custodial platform, cryptocurrencies in their custody are automatically insured against hardware malfunction, internal theft, and fraud.