The fastest method to transfer funds is using Interac e-Transfer which can take up to 30 minutes. Wire transfers, bank draft and crypto deposits are processed on the same day. All fiat currency deposits to NDAX are kept within local banks and not sent offshore.
- NDAX Wealth is a crypto OTC trading desk for cryptocurrency investors who plan on investing at least $200,000 in digital assets.
- People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
- We all know how much transfers cost, this is just greedy.
- The most obvious difference, which is reflected in our Bitbuy review, is in the selection of cryptocurrencies available.
- The trading platform also offers advanced financial instruments such as OTC trading.
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency. NDAX has a mobile app on both the Apple App Store and Google Play. On the home dashboard you can get an overview of your portfolio value, transaction history and other information.
NDAX Sets the Standard for Canadian Cryptocurrency Trading
Since its launch, NDAX has never been hacked or compromised, unlike other Canadian exchanges that have been hacked in the past. The buying and selling fee on NDAX is 0.2% which includes all conversion and market spread costs. For example, if you buy CAD $10,000 worth of Bitcoin, the trading fee will be CAD $20.00. To sell Bitcoin back to Canadian dollars, the same fee will apply. The fees are similar to the Canadian exchange Bitbuy, however, the total fees on NDAX are slightly cheaper due to zero deposit and withdrawal fees. Overall, the fees on NDAX offer excellent value for money for residents in Canada to maximize their Bitcoin or crypto investment or cash out and sell back to CAD.
Fees increased 250%!!!
You can trade cryptos on your Android or iOS devices, anywhere and anytime you want, with the NDAX mobile app. The NDAX app provides access to most of the trading features available on the online platform. The app is completely free to use and requires the same login details as your NDAX account. If you are a HODLer, you will appreciate the NDAX staking program. The platform allows traders to stake their digital assets and earn benefits through recurring payouts. NDAX also features a staking calculator that allows you to estimate your expected revenues.
It doesn’t beat a self-custody wallet like a hardware wallet. These people bend over backwards to help this old fellow. The only thing was the waiting period for my funds was kind of long.
After entering your email, first name, last name, and password, you will be required to verify your email. After that, identity verification is required before you can begin trading. Personal and contact information is needed, and you’ll complete the know-your-customer procedure by uploading an image of a government-issued ID or passport.
How easy is it to get a hold of customer service at ndax.io?
For Canadian-based users, NDAX is a perfect place to store their digital assets and start investing in crypto safely. A limited amount of cryptocurrencies isn’t an issue since some of the best projects in the industry are available on the platform. There’s also an option to stake ndax review some of the assets for further rewards. NDAX is among the few Canadian cryptocurrency trading platforms with SOC2 Type II certification. Furthermore, all crypto assets are kept in cold storage, essentially offline wallets, with Ledger Vault enabling multisignature access.
There are no deposit fees, and the exchange partners with several banking providers in order to offer same-day settlement for CAD and USD deposits as well as withdrawals. In addition, the NDAX Wealth charges no deposit fees and no withdrawal fees and offers segregated bank accounts, same-day settlement, and API connection through Rest, Websocket, and FIX. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. For each deposit method, there are no minimum or maximum limits per 24 hours or account.
My honest experience with NDAX exchange…
NDAX is a centralized cryptocurrency exchange that stores its client’s assets using a combination of hot and cold wallets. Each customer account has its own secure wallet for the supported digital currencies which is protected by mandatory Two Factor Authentication to login and withdraw funds. The customer’s cryptocurrencies are stored in world-class multi-signature cold storage wallets or Canadian Crown-owned banks in segregated accounts.
Quick and savvy staff (even during peak times when crypto is in bull market etc).Highly recommend. Newton is another cryptocurrency exchange that’s often compared to Shakepay and NDAX. All of these Canadian crypto trading platforms offer similar options, but there are subtle differences that may sway your decision. You can withdraw crypto to your wallet or transfer fiat to your Canadian bank account for a flat-rate withdrawal fee of CAD $4.99 for bank transfers and wire transfers.
NDAX Features & Services Reviewed
This may influence which products we compare and the pages they are listed on. They also have CAD 5 million in general business liability. It is possible to stake Cardano, Polkadot, Ethereum, Matic, and The Graph on NDAX.
Product details
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. 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. He has been investing in Bitcoin and cryptocurrencies since 2017. Overall, NDAX is less popular than apps like Shakepay and Coinbase, yet it’s one of the cheapest places to buy Bitcoin in Canada.
Crypto Head’s editorial principles prioritise transparency and reader trust. To maintain our free content and further support our work, we receive compensation from some companies advertising on Crypto Head. Adam founded Crypto Head in 2017 after becoming fascinated by the technology in 2016. He’s been working on a number of crypto-related sites since then but Crypto Head was his first venture. Trading features are designed to accommodate the requirements of both beginner traders and professional traders.
There is also a calculator to see the amount of crypto that will be received. NDAX is available to customers that reside in Canada only. The exchange is limited to deposits in CAD or USD from Canadian banks and/or financial institutions.