NDAX offers you a safe and secure way to gain exposure to over 30 different crypto assets. And it also enables you to stake some of these assets to earn a yield on them. The charting options are decent but not amazing compared to platforms like Coinbase and Kraken.
It is important to note that when you begin staking with NDAX, you are not required to lock up your assets for a set period of time. You can exit your position anytime and have your digital assets at your disposal. There are no deposit or withdrawal fees with CAD, Canadian dollars. This is a huge benefit and can’t be found on many other exchanges than NDAX. The instant coin exchange feature is great for crypto investors who use the platform for the purpose of long-term investing.
There are a lot of great reasons to use NDAX, and I have highlighted some of the top features and advantages you will find on their platform. Save up to $25,232 in interest when you choose nesto over the big banks. Become an investor and earn high-yield passive income or get a low-interest loan funded by your Canadian peers.
Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. It may not have as many altcoins as some other exchanges, but what it does offer is more than enough for the average trader who wants to build a position in crypto. Our NDAX review found that fiat withdrawals usually take up to one business day, mostly depending on the bank’s business hours. The advantage of trading on Newton is access to more than 70 popular cryptocurrencies, almost twice as many available on NDAX.
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- Digital assets in their custody are insured against fraud, hack, internal theft, and hardware malfunction.
- If you need more sophisticated tools, navigate to the menu panel on the left of your screen and click Trading.
- Simply choose your coin and make a quick swap or purchase, that’s it.
The most obvious difference, which is reflected in our Bitbuy review, is in the selection of cryptocurrencies available. While NDAX has more crypto coins and tokens available – 34 – Bitbuy isn’t far off with 25. The NDAX exchange has many features helping the platform stand out among Canadian-based crypto platforms.
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 is a solid cryptocurrency exchange specifically tailored towards a Canadian audience. It has competitive fees, an excellent support staff, and a wide selection of cryptocurrencies to trade. The addition of staking makes it a much more compelling — and potentially profitable — place to trade crypto.
Simply choose your coin and make a quick swap or purchase, that’s it. Finally, I would like to mention that a Canadian fiat account is an option so for all Canadians trading with CAD, your life just got very easy. In terms of order types, NDAX offers more than the standard market order and limit orders. Here you will find advanced order types such as trailing stop loss, iceberg orders and fill or kill orders.
Once you have agreed to the terms and conditions, you can begin your access to the main exchange platform. Once you click the Sign-Up button, you will receive an activation email to complete the registration process. Click on the link to open an email that confirms your membership along with a message to verify your identity. 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.
Yes, users may receive $10 for every referral and a 10% commission from the revenue generated from their referrals. The more referrals a user signs up, the more commission they will receive from each referral’s transactions. Both exchanges are secure and regulated, so you can rest assured your funds are safe on the platform.
When trading on the NDAX Wealth OTC desk you will get in contact with a human representative who will give you a fixed price with no price slippage. You don’t have to actively trade to participate in the referral program, but you are required to have an NDAX account. Withdrawals out of the account to Canadian dollars are a bit pricey at $25 each, but the fee is standard on all amounts, which is nice. But even with the hidden cost, the fees really are the lowest I’ve encountered since Binance. First, select your country of residence, then include your first and last name, username, email address and password. From your dashboard, navigate to the Quick Buy/Sell block, click on Sell, enter an amount, preview the transaction AND CRUNCH THOSE NUMBERS.
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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. NDAX, which is the acronym for National Digital Asset Exchange, is a Canadian cryptocurrency exchange.
Retail investors benefit from the high standards that are necessary to service huge transactions. NDAX holds a majority of user funds in an offline, multi-signature wallet in order to adhere to the highest standards of digital asset security. NDAX is among the few Canadian cryptocurrency trading platforms with SOC2 Type II certification. Furthermore, all crypto ndax assets are kept in cold storage, essentially offline wallets, with Ledger Vault enabling multisignature access. Ledger is a market leader in cryptocurrency storage, and NDAX isn’t the only exchange using it. The NDAX Wealth OTC trading desk is the place for institutional crypto traders and investors who have deeper pockets and require a bigger liquidity pool.
I hold a small bag of this, but it’s another one that’s hard to find on the major exchanges in Canada. 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. 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. To buy crypto on NDAX, you can use the Quick Buy/Sell block on the right side of your dashboard. Select your desired coin from the dropdown menu, enter the amount you’d like to purchase, click BUY and follow the prompts.
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. NDAX offers a set of powerful cryptocurrency trading tools for Canadians. NDAX has a 0.2% trading fee, a $4.99 withdrawal fee for CAD, and a fixed fee depending on the cryptocurrency you’re withdrawing.
Empower traders with advanced tools and features, including order types, charting, real-time market data, and technical indicators. Enhance decision-making processes and execute trades quickly and efficiently to maximize trading potential. Earn up to 13% APY on popular cryptocurrencies like Ethereum, Cardano, and more while holding your assets. Enjoy passive income on a reliable, secure platform while benefiting from market movements and staking rewards.