NDAX Review 2023: Fees & Withdrawals Is It Safe?

NDAX Review 2023: Fees & Withdrawals Is It Safe?

This focus on adaptability and growth is a key part of what makes Ndax stand out. However, specific details like the minimum staking amount can change over time. Despite some criticisms about the expenses incurred when moving Bitcoin to cold storage, users agree that NDAX’s fee structure remains reasonable overall. The platform also features competitive spreads, which are considered a value contributing to relatively low total costs for trades. In 2018, NDAX emerged as a Canadian cryptocurrency exchange and quickly became well-known in the industry. Praised for its compliance with banking standards and dedication to serving the Canadian market, NDAX offers an adherence to banking regulations.

Best Crypto Exchanges For Day Trading in Canada in 2025

In early 2019, the cryptocurrency community was shocked by the collapse of the Canadian cryptocurrency exchange QuadrigaCX, which resulted in huge losses. The platform offers nine crypto assets, including Bitcoin, Bitcoin Cash, Ethereum, EOS, Litecoin, Stellar XLM, and XRP. NDAX makes selling easy, designed for users unfamiliar with trading on the market. Click on the coin you want to buy or sell, choose the amount available both in fiat or cryptocurrency, and go on to buy or sell, just like that. Both NDAX and Bitbuy’s standard trading fee is similar (.20% to buy/sell), but Bitbuy maker trades are only .10%.

NDAX Customer Support

Setting up the contract is very easy and there is no confusing jargon. Two-factor authentication (2FA) is used throughout, making it much more difficult for your account to be breached or taken over. While Ndax has its perks, the fee discrepancy is problematic.

• NDAX withdrawals have flat fees of $4.99 for Interac e-Transfers and wire transfers.
• As someone who’s tested countless exchanges, I appreciate this level of detail because it helps users – especially beginners – make more informed decisions.
• NDAX’s 0.2% trading fee is well within industry standards and shouldn’t represent an issue unless you’re an extremely active trader.
• Transactions on NDAX, like any other cryptocurrency exchange, can be taxable events.
• Furthermore, Ndax goes above and beyond with internal controls to keep things safe and fair.
• From making 2FA mandatory to allowing whitelisting of addresses, it’s really got everything you need from an exchange.

The exchange has partnered with several Canadian banking providers to offer a same-day settlement for CAD and USD deposits and withdrawals. NDAX has one of the lowest trading fees/commissions among the Canada-based cryptocurrency trading platforms I have reviewed. It also has fast processing times for deposits and withdrawals. The team behind NDAX is committed to delivering quality through a very easy-to-use interface where you can buy, sell, and trade cryptocurrencies. All digital assets are stored in safe cold storage wallets far away from any threat which lets you sleep well at night knowing that NDAX has everything under control. What makes NDAX stick out from the crowd is its focus on usability combined with advanced trading tools for all levels of traders.

NDAX Trading Platforms

This is the only trading option available, so if you want to swap directly between crypto pairs, you’re out of luck on Ndax. You will always have to trade back into CAD and then re-trade your CAD with the new token you want. While the Quick Buy/Sell feature on the main dashboard certainly is convenient, it won’t meet the needs of more advanced traders. If you need more sophisticated tools, navigate to the menu panel on the left of your screen and click Trading. 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.

The cons of trading cryptocurrency on NDAX:

NDAX has multiple layers of security to ensure customer funds are protected when stored within its wallets. The majority of digital assets are stored offline in cold storage wallet solutions provided by Ledger Vault. Other common measures include 2 Factor Authentication, multi-signature approvals, fund insurance, segregated bank accounts and daily security audits. Getting started with cryptocurrencies can be confusing for new investors, so it is essential to find an exchange that is easy to use.

After confirming your password, you must click on ndax review 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.

• The platform demonstrates its commitment to security and compliance in its operations.
• Basically, it’s an automated investment tool that lets users set up regular cryptocurrency purchases using a strategy known as Dollar-Cost Averaging (DCA).
• Newton offers traders over 20 cryptocurrencies, one more than NDAX but still nothing special.
• Ndax stuff contacted me in a short moment, a compliance officer Julia B.
• One of the standout aspects is its commitment to security and regulatory compliance, ensuring users can trade confidently.

Trading Platform

I’ve had access to this platform for 3 months and have not been able to complete a transaction without reaching out to support. They accept USD deposits, but will not allow you to do anything with the USD once it’s in your account. Ndax has one of the most user-friendly platforms I’ve come across, and I appreciate the intuitive layout. If you are brand new to crypto, you will have no problem navigating the dashboard and executing trades. I submitted a token recovery request to NDAX over a month ago, yet the matter remains unresolved.