NDAX lets customers deposit Canadian dollars via Interac e-Transfer and Wire Transfer completely free. Withdrawals, however, will cost $1.50 for e-Transfers (max. $3,000) and $4.99 for Bank Transfers (no limit). Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. The physicist has couple of years of professional experience as project manager and technological consultant.
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- As of October 2021, the trading fee for buying and selling is fixed at a rate of 0.2%.
- NDAX charges withdrawal fees on wire transfers and bank direct transfers.
Ndax review
This is a high-risk investment and you should not expect to be protected if something goes wrong. Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong. At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence.
Any reliance you place on such information is strictly at your own risk. Platforms like Bitbuy and NDAX, are considered safe and compliant with Canadian regulations. Canada has made solid progress in regulating crypto, which gives me more confidence when picking an exchange. If it’s registered and compliant, I’m far more likely to trust it with my money. Don’t invest unless you’re prepared to lose all the money you invest.
Waddle In with Pudgy Penguins (PENGU) — Now Trading on Ndax!
- I value that staking with Ndax is integrated directly on the platform, making it simple to participate and track rewards, even for users without prior staking experience.
- Both NDAX and Bitbuy’s standard trading fee is similar (.20% to buy/sell), but Bitbuy maker trades are only .10%.
- Founded back in 2014, Coinsquare is one of the first Canadian cryptocurrency platforms in Canada.
- On the other hand, BEP20 is a token standard used on the Binance Smart Chain (BSC), which is an alternative blockchain to Ethereum.
- I stick with FINTRAC-registered Canadian platforms that follow proper KYC/AML.
But it’s an entirely different story when comparing NDAX to global cryptocurrency exchanges such as Binance or Coinbase. The NDAX selection of only 19 cryptocurrencies compared with the hundreds offered by other platforms does not go unnoticed. The selection is not enough for experienced traders looking for small-cap gems and not even beginners, as some top 20 big projects are also missing. The key is to compare platforms based on trading fees, funding options, and spreads. Avoid buying crypto with credit cards, as those usually come with higher fees. Instead, consider using Interac e-Transfers or bank transfers where available.
NDAX Review: Pros, Cons, Fees, Supported Coins & Referral Plan
The platform supports various trading pairs, including fiat-to-crypto and crypto-to-crypto pairs, giving traders a wide range of options. For more experienced traders, Ndax offers a wide array of trading tools and analytics. These include advanced charting tools, price alerts, and a variety of order types such as limit orders, market orders, and stop-loss orders. The platform also integrates with external tools like TradingView for additional charting options, giving traders flexibility in their analysis. 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.
Advanced charts and order types
In Bank draft, the deposit fee is free while the withdrawal fee is $25 and the processing time is 0-1 business day. There is no limit on minimum and maximum deposits and withdrawals. In Wire Transfer, the deposit fee is free while the withdrawal fee is $25 and the processing time is 0-1 business day. NDAX has a low trading and commission fees amongst similar cryptocurrency trading platforms.
Ndax’s staking program imposes a 20% service fee on all rewards earned, with no early withdrawal charges or hidden admin costs. Lending is not available, so you’ll need to use another provider for yield-bearing accounts outside supported staking tokens. The convenience of in-platform staking is useful, but users seeking the absolute highest returns may prefer self-staking with lower fees.
Easy Ways to Make Money Online in Canada
This approach minimizes the likelihood of losing assets in the event of a security breach. Users are required to sign up by providing basic information such as their email address, name, and password. Once the initial sign-up is complete, users can begin trading by depositing cryptocurrencies or fiat currencies into their account. Ndax provides a clean dashboard with easy-to-read charts, trade history, and live order book updates. Additionally, the order forms are simple, allowing for quick execution of trades, which is crucial in the fast-paced world of cryptocurrency trading.
Whenever I ran into an issue, I reached out to their customer support and noted how responsive and helpful they were. My experience included both smaller crypto trades and larger transfers to understand liquidity and withdrawal processes. Security is a paramount concern for cryptocurrency traders, and Ndax goes to great lengths to ensure the protection of its users.
The platform offers lower fees, more choice, and an intuitive design than other companies in the market. The withdrawal fee is a big con, given that many other crypto ndax platforms allow free CAD withdrawals. NDAX, on the other hand, offers free deposits but a just as high flat fee of $25 for withdrawals. The platform offers nine crypto assets, including Bitcoin, Bitcoin Cash, Ethereum, EOS, Litecoin, Stellar XLM, and XRP. Using NDAX, wealth users gain access to a deep liquidity pool to enable quick transactions and no price slippage. On top of that, clients transacting receive customer service assistance from NDAX with all their large orders.
He has been investing in crypto since 2017, and is excited about the potential for innovation and creative uses for NFTs in the near future. Withdrawals depend on your verification status and type of account. It is not possible to withdraw using new accounts that are not yet verified, while basic and enhanced accounts have limits of 2 BTC daily and 10 BTC daily and $500,000 monthly respectively. Once you sign up, decide if you want to use the simpler interface or the advanced one.