The web’s most detailed NDAX review: NDAX is quickly becoming one of the most recognized names in the cryptocurrency industry in Canada. With a double regulation, NDAX has set the scene for all cryptocurrency traders with a very intuitive platform for beginners and experienced traders. Our expert decided to dig deeper to find out exactly what makes traders coming back. Read the full story in our NDAX review.
• No deposit/withdrawal fees
• High limits for large cryptocurrency traders
• Cryptocurrency exchange with local Canadian payment methods
• Few payment providers
• The platform can only be used by traders living in Canada
• No active live chat
In this section of our NDAX review we highlight 6 special features that deserves extra attention.
NDAX stands for National Digital Asset Exchange Inc and it’s the company behind this Canadian cryptocurrency exchange with the main office located at 250 2 St SW, Suite 1820, Calgary, Alberta T2P 0C1, Canada. This high-security crypto exchange has made a very good name for itself in Canada where it is currently regulated under FINTRAC and AMF, two bodies that help this platform adhere to Canada’s highest security standards.
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.
Why use NDAX
Canadian traders who are searching for a safe place to get into the cryptocurrency trading community should give it a try since this digital asset exchange can be used by all traders at all levels. Thanks to the very intuitive interface, beginners and experienced traders will enjoy the dashboard that is developed to the highest standards.
Traders from Canada will find local payment methods and very low entry fees as well as trading fees. This exchange is also great for large traders thanks to the no-limit policy on deposits and withdrawals, which are processed the same day as they are requested.
The OTC broker for crypto called NDAX Wealth is very useful for institutional clients and investors with big pockets. Here you can easily deposit over $200,000 when a new opportunity arises through its deep liquidity pool.
Trading on NDAX
NDAX has a very beginner-friendly trading interface that lets you analyze your coins technically through the Tradingview charts and also with a complete order book engine. The trading dashboard is very clean which I like when I’m trading myself. Technical traders will enjoy this interface and thanks to the Tradingview charts, it’s free of lag.
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. This helps out if you are a trader with special day trading strategies for crypto that requires a more complex entry. There is also a quick buy and sell function for those investors that are simply looking to purchase a coin without using a chart.
Payment methods and limits
NDAX offers deposits with Bank transfers, Interac e-transfer, and of course cryptocurrencies. There is no minimum deposit, no minimum withdrawal, and no maximum withdrawal. On this exchange, you don’t have to worry about limits, well done NDAX!
NDAX category rating
Things we don’t like
The live chat is a little bit tricky in my opinion. First, you need to send a message with your question, then a representative will contact you later on when they are available. I was surprised when the live chat started to send me notifications and I found Belle on the other side. It is a live chat but it’s a little bit different. A bigger pool of altcoins is also a huge plus and I know more traders would be attracted to sign up if NDAX would offer more coins.
There is not much more we can point out. In summary, NDAX is a very complete Canadian cryptocurrency exchange and we highly recommend our Canadian traders to give it a try, you will not be disappointed!
NDAX Trading Fees
About the Special Features on NDAX
NDAX has a lot to offer when it comes to special features. First of all, I would like to highlight the high limits this cryptocurrency exchange has, it’s very easy to deposit and withdraw large amounts of cryptocurrencies in a go. Secondly, the registration process is very smooth and their KYC process is extremely streamlined.
The instant coin exchange feature is great for crypto investors who use the platform for the purpose of long-term investing. 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.
Canadian Crypto Exchange with Local Payment Methods
We’ve mentioned this earlier but I want to highlight that his exchange is really easy for Canadian crypto traders to get into trading with this regulated exchange that offers CAD deposits with Bank transfers and Interac e-transfers.
Same Day Deposits & Withdrawals
This is a great feature for many reasons. When you make a deposit or withdrawal with CAD or Canadian dollars, the request gets processed the same day and your funds will either get transfers to the platform or back to your own account the same day. This is a huge benefit and can’t be found on many other exchanges than NDAX.
NDAX Wealth OTC Trading
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. Here you can easily make deposits of over $200,000 in one single go. Deposit or withdraw large amounts of bitcoin or any other cryptocurrency with increased security and customer support from a very professional team.
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.
Cryptocurrency and Bitcoin Taxes in Canada
This is a piece I want to mention because it can really be a hassle to get your taxes going. If you are a Canadian crypto trader and you have questions regarding cryptocurrency taxes in Canada, feel free to visit the NDAX blog where they are explaining in detail how to go about understanding CRA guidelines, tracking, valuation, treatment, reporting, and there is a handy FAQ section at the end that will help you out.
How to Convert Bitcoin to CAD
If you are living in Canada and you want to cash out your bitcoin gains for your local currency CAD, Canadian dollars, you can easily do it on NDAX. Simply create an account on NDAX, send your bitcoin from your other address to the NDAX wallet, trade your bitcoin for CAD, and lastly send your Canadian dollars to your own bank account. It could not be easier to sell bitcoin for CAD.
NDAX has recently released the first staking protocol among major cryptocurrency exchanges in Canada. Enter the NDAX staking protocol and earn up to 12% in yearly yield for locking up coins. There is an intuitive staking calculator where you can see exactly how much you will earn for each cryptocurrency staked.
Our own experience with NDAX
NDAX Funding Methods
|Max Withdrawal Limits||No limit|
|Min Withdrawal Limits||No limit|
|Min Deposit Limits||No limit|
NDAX Withdrawal Fee
Is NDAX safe to use?
Yes, NDAX is seen as one of the most secure trading platforms in Canada. They are using a multi-signature technology that is provided by Ledger Vault.
Is NDAX a regulated platform?
Yes, NDAX is regulated by both the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC) and Autorité des marchés financiers (AMF).
Frequently asked questions
Read the most frequently asked questions about NDAX. Find answers without searching the web.
Yes, the platform allows you to buy Bitcoin with two different payment methods, Interac E-transfer and Bank transfer.
Step one: Sign up as a new member and verify your account. Step two: When you are logged in you click on the green deposit button, from there you choose which payment method and how much you prefer to deposit.
The platform has a standard trading fee of 0.20 %. There are no deposit or withdrawal fees with CAD, Canadian dollars.
The headquarter is located at 250 2 Street Southwest Suite 1820, Calgary, AB T2P 0C1, Canada.
No, people living in the United States are not allowed to use this platform.
No, the exchange does not have any maximum withdrawal limits.
The editorial team of Trading Browser is required to use first-hand sources to collect and share information regarding the businesses we promote. Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Crunchbase, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Below is a shared list of the article sources used for this review.