Make sure everything adds up, that your trading fee is no more than 0.2%, and that you are not being shorted on the trade like I was. Click on Withdraw at the top of your dashboard, enter your banking information, and then follow the prompts. Our team of knowledgeable customer support representatives are standing by 24/7 to answer any questions that you may have. The material contained on this website is for informational purposes only and RankFi.com, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell investments nor is it to be construed as investment advice. RankFi.com is not a registered investment, legal or tax advisor or a broker/dealer.
- To get started, head to the NDAX website, and select the “Sign Up” button.
- Providing your SIN is optional, but it definitely weirded me out a little bit because other major exchanges have not asked for my SIN.
- In addition, they hold crypto in cold storage, are working with regulators in Canada, and have strict security protocols.
- NDAX will require you to enter that number in order to access your account.
Relatively low Cryptos available (I’ve seen posts which mention their philosophy of having wallet integrations and I agree). While I couldn’t find the exact percentage, NDAX states on their website that they hold the majority of their assets offline, in cold storage, for maximum security. When you open an account with NDAX, you’ll be required to go through the same two-factor authentication (2FA) that banks employ on their online banking platforms. NDAX uses 2-factor authentication (2FA) every time you sign into your account. When you attempt to sign into your NDAX account, it will prompt the Authenticator app to generate a unique 6-digit number. NDAX will require you to enter that number in order to access your account.
Users can easily execute trades, monitor market trends, and manage their portfolios thanks to the platform’s clean and straightforward layout. Both NDAX and Bitbuy’s standard trading fee is similar (.20% to buy/sell), ndax but Bitbuy maker trades are only .10%. If you’re interested in opening a crypto trading account with NDAX, the process is an easy one. To get started, head to the NDAX website, and select the “Sign Up” button.
After factoring in trading fees, spreads and more, they have some of the lowest fees in Canada. It’s a great place to quickly buy Bitcoin and popular cryptocurrencies with Canadian dollars. NDAX claims that its trading platform is designed for newbies and experienced traders alike. They do offer advanced orders, including stops, stop limits, trailing stops, etc.
Assets that remain on the exchange in a hot wallet are similarly insured and secured with advanced technology called Multi-Party Computation. Multi-Party Computation (MPC) is an industry-recognized form of security that protects cryptocurrency stored in hot wallets from internal and external bad actors. There was no mystery discrepancy, the fee was a consistent 0.198%, lower than the advertised fee of 0.2%. I actually fetched a better price on my sale because NDAX quoted a BTC price that was 0.4% HIGHER than its live market price.
Besides the super cheap trading fees and markups, NDAX also offers free funding methods. Plus, NDAX does not impose any deposit limits, which are determined by your own financial institution. Free deposits are such a refreshing change from some other platforms that lure you in with cheap trading but nail you on deposit fees. Even with the ghost fee, the total trading cost on NDAX is significantly cheaper than massive exchanges like Kraken and Coinbase. Rest assured, NDAX really is one of the cheapest crypto trading platforms in Canada, even if the fees aren’t exactly transparent.
Key Features & Benefits
He has been investing in Bitcoin and cryptocurrencies since 2017. NDAX® puts areas of strength for an on administrative consistence, complying to the important regulations and guidelines in the Canadian crypto space. This obligation to consistence cultivates a straightforward and responsible climate for clients.
NDAX has its own Over-The-Counter trading platform called NDAX Wealth, for investors who need to trade $200,000 or more. Here, you’ll appreciate real-time charts courtesy of TradingView. TradingView lets you use technical analysis tools like measurements, trendlines, and timeframes, to name a few. You can watch the performance of coins, make price predictions, and execute trades based on your analysis, all in one place.
Funding Methods & Fees
Experience the future of safe cryptocurrency trading in Canada by logging in to NDAX® right away. Newton has 70+ coins, $5 off crypto withdrawals, and a total BTC/CAD purchase fee of 0.69%. On the other hand, NDAX has 30+ coins, pro trading, and a total purchase fee of 0.49%. NDAX is better for advanced trading and has slightly better purchase fees. Newton is better for altcoins and withdrawing crypto cheaply, but is still low-cost as well. NDAX.io (National Digital Asset Exchange) is a Calgary-based cryptocurrency exchange founded in 2018.
Major Downside to Advanced Trading
Having said that, NDAX is still the cheapest platform I’ve tried so far, with a total trading cost of 1.70% including the ghost fee. The good news is that NDAX is true to its word about the flat 0.2% fee on every trade. Was the lowest if experienced so far at just 0.47% higher than BTC’s live market price. This markup is about half of what Coinbase and Kraken charge, which means you get more bang for your buck on NDAX compared to the big guys.
A Note About Signing Into Your Account
All content should be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment. We signed up for every crypto exchange and brokerage so you don’t have to. Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency.
The charting options are decent but not amazing compared to platforms like Coinbase and Kraken. The customization is limited along with the charting indicators available. But you still have access to popular and effective tools like Moving Averages, Relative Strength Index (RSI), Bollinger Bands, and more. When you add the markup and the trading fee to the mix, this purchase cost me a total of 1.70%, and the majority of that cost is attributed to the missing $0.30. For perspective, if that $0.30 had not been deducted, my trade would have only cost me 0.67% in total. NDAX’s staking service supports Ethereum (ETH), Polkadot (DOT), Cardano (ADA), The Graph (GRT), and Polygon (MATIC).
Depending on the asset, the APY falls between 4.8% to 12% and payouts are made daily or weekly. However, the downside is NDAX charges a 20% admin fee and doesn’t have the highest rates. Another alternative to research would be Kraken because it has more coins and zero-fee staking. Only things that I don’t like are comparatively high withdrawal fees either through transfers to wallets or cashing out to FIAT.
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However, the downsides include low volume on certain altcoins, high crypto withdrawal fees, and a limited selection of assets. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. NDAX, which stands for the National Digital Asset Exchange is a Canadian cryptocurrency exchange based in Calgary. 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 registration process for the exchange is painless, its user interface is easy to navigate and the trading fees on the platform are moderate. Sign up and join NDAX to start trading cryptocurrency with no deposit fees, same-day flat fee withdrawals and 0.2% trading fees. NDAX has partnered with Ledger Vault to secure your digital assets in cold storage. Ledger Vault is a third-party cold storage provider for individuals and institutions. Digital assets in their custody are insured against fraud, hack, internal theft, and hardware malfunction.