In addition, they hold crypto in cold storage, are working with regulators in Canada, and have strict security protocols. You can also add extra protection to your account with features like two-factor authentication and address whitelisting. However, you need to have a registered account to start this process so if your issue is with the registration process itself, then you will need to use a different option. The live chat option is responsive but if it is experiencing a high volume of tickets there may be a longer wait time. When you initiate the outgoing transfer on the NDAX exchange, your crypto will be immediately sent to its native blockchain. Hence, the time for you to receive your crypto in an external wallet depends on the requirements of the respective blockchain.

Another alternative to research would be Kraken because it has more coins and zero-fee staking. It includes the 2 most recognizable blockchains (Bitcoin and Ethereum), along with some of the more recent layer 1 blockchains in Cardano, Solana and Polkadot. NDAX carries stablecoins, meme coins, decentralized gaming and metaverse tokens. Once your withdrawal request is confirmed, you usually need to wait one business day for your funds to lay in your bank accounts. Bear in mind that financial institutions don’t process transactions during weekends or after business hours.

NDAX’s Security

All things considered, NDAX is safe, just like any other regulated platform in Canada. However, they are still a centralized exchange who has control over your funds. Additionally, you can move cryptocurrency from one NDAX account to another for free. This can be done by requesting, sending or gifting cryptocurrency.

Despite a few negative reviews, there was many positive reviews about the customer service as well and overall, NDAX is well-liked by the community. After testing 18 Canadian brokers and exchanges, NDAX was one of the cheapest apps overall. 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. 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.

NDAX Alternatives

The fees and spread are lower and the NDAX platform is more intuitive and user-friendly. NDAX on the other hand does not charge for deposits but takes a flat fee of $4.99 for withdrawals. So going by the fees and coins supported on the platforms, NDAX offerings are superior to Bitbuy’s for now. 3) NDAX offers 30+ of the most popular cryptocurrencies that you can buy directly using CAD. Although some users prefer a wider range of coins, for most beginners and day-traders, the range supported by NDAX is sufficient.

New coins are also added from time to time, so their collection is slowly growing. NDAX.io (National Digital Asset Exchange) is a Calgary-based cryptocurrency exchange founded in 2018. They offer 30+ cryptocurrencies, beginner and advanced trading tools, free interac e-transfers, and a simple user interface. NDAX is a Canadian cryptocurrency trading platform where you can buy and sell Bitcoin (BTC) and popular digital currencies with Canadian dollars (CAD). The information on this website is for information purposes only. It is not intended as investment or financial advice and should not be relied on as such.

Finder ratings for NDAX

I could notice that the exchange regularly posts updates and news on all of them, but I must admit, there is less user engagement than I expected. From my experience, it can be a very handy solution for receiving a prompt response in case you’ve got stuck at any stage. However, you need the status https://forex-review.net/ndax-crypto/ of a registered user to use the NDAX chat option. Also, I’ve noticed some response delays here, especially, when the ticket volume is overloaded. Both crypto and fiat deposits are completely free, without any third-party commissions or conversions lurking for you in the middle of your trade.

Seasoned traders will love the charing package but the limited number of available cryptos is something that worries me. So, I’m sure that ultimate traders will find a better shelter on more coin-diverse platforms like Binance or KuCoin. This website is only provided for your general information and is not intended to be relied upon by you in making any
investment decisions.

Is NDAX safe?

He completed a study on Bitcoin, blockchain technology and cryptocurrencies at Dalhousie in 2021. Once you have registered your email account you will need to complete the verification process before you can fund your account and begin trading. I can see that the exchange has a neatly organized support system. It transparently covers all potential issues, exchange policies, and processes you need to pass to get ready for the trading part. Now, you’ll be diverted to the ID verification section, where you’ll have to upload a government-issued document — passport, ID card, or a driver’s license and finally, a selfie.

• If you are after other options, take a read of this article on the best Canadian cryptocurrency exchanges.
• So the platform is legit and you can be sure you’re dealing with a company that follows all applicable Canadian laws and regulations.
• The exchange simply knows how to combine the two most conflicting traits in the crypto realm — feature-rich trading platform and ease of use.
• Fiat deposits are also simplified to a great extent, but the step-by-step procedure depends on the payment option.
• For those in it for the long run, the cryptocurrency exchange also makes it easy to set up recurring purchases.

Like many other crypto platforms, they’ll pay you for referring your friends to sign up and trade a minimum amount. One downside is that NDAX charges hefty fees when withdrawing your Canadian Dollars. The good news is that you can receive a $10 signup bonus just by using this link. While we are independent, we may receive compensation from our partners for featured placement of their products or services.

BitBuy

NDAX is fully registered and compliant with FINTRAC and Securities Quebec as an MSB. Despite the lack of an instant market, NDAX has an exceptionally intuitive platform that allows even absolute beginners to place their first orders with confidence. NDAX is one of the best Canadian cryptocurrency exchanges suitable for beginners. It’s actually the fees that make NDAX a sounder choice, especially for novices. Newton promotes a no-trading-fee policy but this statement can be rather misleading and confusing for less experienced traders.

But, it’s not only the trading style that makes NDAX unique among its direct competitors. Once you log in to the platform, you’ll see the Wallet tab on your left side. Select the cryptocurrency you’re planning to deposit and click the Receive button at the bottom of the screen. Then, enter the wallet address or scan the QR code of your third-party wallet, and you’re all set to go. Given the unwritten desktop-first rule, I was fascinated by the NDAX mobile app.