Triple III Explainer

Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. You can transfer your crypto from an external wallet or another crypto exchange to your NDAX crypto wallet.

• Trading and investing in financial instruments, including but not limited to cryptocurrencies, tokens, CFDs, and other derivatives, carries a high level of risk.
• The NDAX selection of only 19 cryptocurrencies compared with the hundreds offered by other platforms does not go unnoticed.
• It allows users to perform crypto or/and fiat transactions by giving orders to buy and sell using the available pairs.
• They also have one of the largest selections of digital tokens available in Canada.
• Netcoins has been around since 2014 and has built up a strong reputation as one of the leading cryptocurrency exchanges in Canada.

What is the minimum staking on NDAX?

This way, you will be able to photograph your ID during the verification process. To set up an account with Ndax, you need to be over 18 years old and hold Canadian citizenship. The bank that you use to fund your account also needs to be Canadian. NDAX is required to collect personal information in order to comply with anti-money laundering regulations. Coinsquare lists 10 of the biggest cryptocurrencies such as Bitcoin, Ethereum, ndax and Dogecoin. Ideal for large institutional investors and High Net Worth Individuals, Over The Counter (OTC) trading desk is available on NDAX Wealth.

Customer Service

Additional details like verification of identity and phone number are required by the platform. You will need to enter basic details like name, username, email address, password and agree to the terms and conditions and private policies of the platform. See how NDAX Canada compares with Bitbuy, Coinsmart, and Wealthsimple Crypto below. For more details about what the platform has in place to protect your account, the risks you face, and their privacy terms, check the NDAX website. Savvy New Canadians content is vigorously reviewed for accuracy by our team of qualified fact checkers. Ndax is operated by National Digital Asset Exchange Ltd., a Canadian company headquartered in Calgary, Alberta.

To buy cryptocurrencies on Ndax, you will need to open an account and deposit Canadian dollars from your bank account. Some of the larger exchanges that are licensed in Canada, such as Coinbase, Kraken, and Crypto.com, offer a much wider range of cryptocurrencies to choose from. All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. But for smaller investors, the $25 NDAX withdrawal fee is a big drawback. Newton offers traders over 20 cryptocurrencies, one more than NDAX but still nothing special.

Timeframes, fees, and limits for Interac e-Transfer deposits

They feature a dedicated page on their website that explains both transfer and trading fees in a language that’s easy to understand. NDAX, which stands for the National Digital Asset Exchange is a Canadian cryptocurrency exchange based in Calgary. It’s been around since 2018 and is known for its large selection of cryptocurrencies, currently at 14 and counting. In this full NDAX review, I’ll let you know the benefits, as well as the limitations, of dealing with this popular crypto trading platform. NDAX makes money from trading fees on both buy and sell transactions. NDAX also makes money when you withdraw fiat to your bank account and crypto to your external wallet.

They also have one of the largest selections of digital tokens available in Canada. NDAX and Bitbuy are Canadian cryptocurrency exchange platforms enabling Canadians to buy and sell digital assets using Canadian dollars. 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. That said, when it comes to NDAX vs Bitbuy, there are a few differences to note that will help you pick the best one for your needs.

Is NDAX a crypto wallet?

For other options of crypto exchange, find an informative list and breakdown of the best crypto exchanges in Canada here. NDAX is a fully regulated Canadian-based crypto trading platform for both individuals and institutions. While anyone can access their website and certain services, use of their exchange is limited to Canadian residents and will require KYC verification. They’ve been operating since 2018 and have never been hacked or lost users funds.

• This is lower than many international brokers and a touch better than several Canadian competitors, giving cost certainty regardless of trade size.
• NDAX has one of the largest collection of crypto available to trade among the Canada-based crypto platforms.
• Ndax’s track record is solid, with very few publicized incidents and active partnerships in the Canadian market.
• Such links don’t imply our endorsement, and we aren’t liable for the content, products, or services of these third-party entities.

NDAX Customer Contact Information

NDAX has some unique features compared to its competitors, including one of the largest selections of cryptocurrencies and low trading fees. Ndax protects Canadian dollar balances through coverage in the Investment Dealer Fund, offering additional peace of mind for fiat holdings. Additional services can significantly enhance the overall user experience and utility of a crypto platform, allowing users to benefit from features beyond simple trading. When looking at spreads, I find them to be relatively tight on major cryptocurrencies during normal market conditions, likely because Ndax aggregates liquidity. However, because all pairs are CAD-crypto, and there are no crypto-to-crypto pairs, you might need to convert to CAD more often compared to global platforms.

Cashback offers are not standard, but referral promotions may provide bonus credits or trading fee discounts. Currently, Ndax does not offer traditional welcome bonuses or deposit rewards typical of some global crypto brokers. However, it does run periodic promotions and features a referral program where users can earn bonuses by inviting new customers to the platform. Ndax does not currently offer direct DeFi staking options on its platform.

Buying crypto

Since its founding, it has grown significantly to become one of the country’s leading regulated crypto platforms, supporting over 55 digital assets. Ndax offers a staking program allowing users to earn rewards on supported cryptocurrencies such as Ethereum, Cardano, and Polkadot. Rewards are calculated based on the staked amount and paid out daily or weekly. Ndax charges a 20% administration fee on total staking rewards; payout rates vary by cryptocurrency. Ndax’s staking program imposes a 20% service fee on all rewards earned, with no early withdrawal charges or hidden admin costs.

How does NDAX make money?

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. To minimize costs, use free deposit methods and Interac for small withdrawals. Take advantage of internal transfers between Ndax users, which are fee-free. Consider consolidating trades to reduce commission repetition, and compare staking rewards—after accounting for platform fees—if maximizing yield matters to you.

However, Newton has an advantage over NDAX as it offers more coins than NDAX does. The cold storage wallet ensures that your funds are stored securely offline, thus making it impossible for hackers to access your funds even if they ever gain access to NDAX servers. Through the platform, you can enjoy the opportunity to buy or sell large volumes of cryptocurrencies without affecting the market price of these assets. NDAX offers a variety of staking options that allow you to maximize your ROI by utilizing its advanced tools and features.