NDAX Cryptocurrency Exchange Canada Review

This means that should the exchange go bankrupt, you won’t be able to get your digital assets back. NDAX is one of the few Canadian crypto exchanges where you can stake your assets to earn a return at the click of a button. Coinsquare’s spreads on the other side are slightly higher than the NDAX’s. When compared, NDAX comes out on top, offering lower spreads, fees, and a more intuitive and user-friendly platform. NDAX makes selling easy, designed for users unfamiliar with trading on the market.

Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. The feature is reserved for trades of over $200,000, with the benefit that the assets can be bought off the market at a fixed price without suffering from price volatility. The tier each user falls into is decided based on how many users join ndax the platform via the link on a monthly rolling average basis.

Deposit Methods

• Prioritizing security, it offers robust features like two-factor authentication and operates on a non-custodial model, ensuring users retain full control of their funds.
• Ndax even shows their dedication to making their users happy by giving you FREE $10 when you sign up with this link.
• Although the number of cryptocurrencies supported is somewhat restricted, the advantages offered by NDAX significantly overshadow this minor setback.
• It’s been around since 2018 and is known for its large selection of cryptocurrencies, currently at 14 and counting.
• Lending is not available, so you’ll need to use another provider for yield-bearing accounts outside supported staking tokens.

NDAX is a safe and legit company registered with the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC) as a Money Service Business.

Does Ndax provide insurance or proof-of-reserve for customer funds?

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. NDAX prioritizes adherence to regulatory standards, keeping client funds in segregated bank accounts, and operating under FINTRAC regulations. At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs.

• Ideal for large institutional investors and High Net Worth Individuals, Over The Counter (OTC) trading desk is available on NDAX Wealth.
• Bitbuy is the overall winner because of its beginner-friendly interface, FINTRAC registration, lower withdrawal fees and it’s the most secure and trusted exchange in Canada.
• Using a Canadian platform is often recommended for Canadians as they are trusted, secure and convenient, despite the lack of available cryptocurrency options and advanced platform features.
• Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer and Wire transfer.
• As the adoption of cryptocurrency continue to grow and more platforms are coming on board, it can be confusing to know where to start especially as a beginner in the crypto market.
• Ndax wealth clients will receive personalized service to assist with all of their large orders.

Is NDAX Worth It For Canadians?

What this means is that the funds are essentially unstealable as no hacker can gain access to them. NDAX is a crypto-trading platform founded in 2018 based in Calgary, Canada. While Ndax is a reliable and secure platform, ithere are imposed investment limits based on your financial profile.

About Savvy New Canadians®

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape. We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. The end result produces star ratings ranging from poor (one star) to excellent (five stars). One of the most important pieces of information to know about a crypto exchange prior to choosing which is best for you is the fee structure.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy. Bitbuy is the winner in terms of security, as it is the most trusted and secure exchange in Canada and hasn’t been hacked since its establishment in 2016. Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer and Wire transfer.

What is Bitbuy?

Launched in 2018, Uniswap utilizes an automated market maker (AMM) model, allowing users to swap tokens seamlessly through smart contracts rather than relying on traditional order books. Discover the top cryptocurrency platforms in Canada, featuring Ndax, with insights on features, fees, and security. However, specific details like the minimum staking amount can change over time.

Advanced Trade

Non-Eligible Crypto Investors are capped at $30,000 in net acquisition cost. Eligible Crypto Investors can acquire up to $100,000, while Accredited Crypto Investors have no acquisition limit. The addition of Interac e-Transfer withdrawals to Ndax’s suite of services marks a significant milestone in our commitment to providing user-centric financial solutions.

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. His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential. James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency. At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format.

With over a decade experience in financial services, he’s passionate about personal finance, investing and helping people take control of their financial life. Both NDAX and Netcoins supports 30+ cryptocurrencies including Bitcoin, Ether, Cardano, Litecoin, Dogecoin and USD Coin. After completing the registration process, you will be able to access your account dashboard from where you can deposit funds into it and start trading with them in minutes.

The platform implements safety protocols by separating funds and using a combination of cold and hot wallet storage solutions. This separation guarantees that customer money is safely stored and distinct from company assets. One downside of Bitbuy is that it only supports 17 cryptocurrencies. If you are after a wider range, Ndax offers 36, but if you want a much larger selection, you can go with Binance (see review here) which has over 600+ coins.

The platform also uses standard industry practices to keep your funds safe, such as 2-factor authentication and DDoS mitigation. The strict rules are detrimental to anyone who values privacy and wants to trade without these restrictions. Having to prove your identity to trade your crypto goes against the decentralized ethos of crypto. The institution, as well as the government, see all your transactions.