MoneySense is a digital magazine and financial media website, featuring content produced by journalists and qualified financial professionals. MoneySense is owned by Ratehub Inc., but remains editorially independent. While our editorial team does its best to ensure accuracy, details change and mistakes happen. If you read something you feel is incorrect or misleading, we would love to hear from you.

With a unique blend of quirkiness and enthusiasm, he has established himself as a prominent figure in the personal finance industry. Sagar’s passion for finance, coupled with his engaging writing style, sets him apart from his peers. While he has a background in computer engineering and a Master’s in Project Management, Sagar’s true passion lies in helping others manage their money. His writing has been featured in several top Canadian finance publications, solidifying his status as a sought-after voice in the field. Despite juggling his work and blogging schedule, Sagar remains resolute in his mission to make a lasting impact on the personal finance world.

NDAX has its own Over-The-Counter trading platform called NDAX Wealth, for investors who need to trade $200,000 or more. NDAX states on their website that OTC traders benefit from highly personalized service, a dedicated slack channel for accessible and secure communication, and no price slippage. For Canadian-based crypto exchanges, NDAX supports a surprisingly large number of digital currencies, 14 in total.

While withdrawals fees vary depending on the crypto coin you are withdrawing. Many Canadian investors look for the best platforms and marketplace to exchange their Canadian cash for crypto. There are various platforms such as NDAX, CoinSmart, Bitbuy, and Wealthsimple Crypto. However, the highly recommended, guaranteed to give easy access and the best experience among these is NDAX.

Customer support

Unlike many other crypto sites, you don’t pay a fee to deposit fiat. Every 5 star review is written by them to lure more victims. Depositing is a breeze they’ll take that in a second, but the moment you try to withdraw they’re going to charge you a ridiculous fee, lock your funds, and have not one support rep answer for about a week. When they do it’ll be a brush off and you’ll be told to keep waiting. Well during this week so far I’ve missed out on multiple profits so a big shout out to NDAX for ruining my trading experience.

If you understand their fee, everything will be good.My only complaint is why they don’t have a debit deposit. Highly disappointed at the blatant disregard of logic and the turnaround times. There is no logic to the holds and „compliance” and they offer no real solutions just delays and delays and you hoping to god after a week they haven’t stolen your funds. NDAX can track where you have received and sent crypto since all transactions are recorded on public blockchains. The information available includes time and date, amount sent and both “to” and “from” wallets.

This way, your credentials, coins, and resources are better protected as it makes it hard for outsiders to break into your account since they have to go through a two-way authentication check first. NDAX’s trading platform is suitable for both novice and seasoned traders. Advanced commands, such as stops, stop limits, and trailing stops, are also available.

Instead, you simply send funds to a whitelisted address, confirm the transaction via email, and then the transaction is added to the blockchain. For the crypto-maximalists who live by “not your keys, not your crypto.” You can transfer your cryptocurrency off the platform to another crypto wallet. Transactions involving crypto assets are not covered by Deposit protection. NDAX also offers reoccurring purchases, although it is currently only available through their website.

Registration process

Some platforms that facilitate the trading of cryptoassets must comply with securities legislation. For example, the dealer conducts the stock exchange transaction to buy or sell on behalf of the client. In damage insurance, a broker may offer the products of several insurers while an agent sells the products of a single insurance company. Registered crypto asset trading platforms are subject to terms and conditions, which can be viewed in the individual exemptive relief decisions linked in the chart above. Wealthsimple is a famous Canadian investment robo-advisor launched in 2014.

NDAX is the Calgary-based cryptocurrency exchange platform making digital assets accessible to everyone. The world of crypto can be confusing and nuanced, https://forex-review.net/ especially if you’re brand new to the space. NDAX has simplified the buying and selling process for crypto-enthusiasts of all experience levels.

Imagine buying $100 worth of crypto, doubling your money, and walking away with only $74.80 dollars profit after the 0.2% trading fee, and another $25 fee when you cash out to your bank account. But Brian can make a $40,000 trade, double his money, and walk away with $39,895 profit after the 0.2% trading fee and the $25 flat fee to cash out to his bank account. He keeps 99% of his profits and you keep less than 75% of yours. NDAX offers a seamless trading experience on their mobile app. I was able to get setup in just 10 minutes and begin funding my account through e-transfer. Their mobile app offers advanced trading features such as limit, stop, stop limit, fill or kill, IOC, and reserve orders.

NDAX

NDAX is a custodial platform, which means they take care of storing and securing your coins for you. In fact, they’ve included a fee calculator on their site, so you can see exactly how much a trade will cost before you make it. That’s an incredibly useful feature I haven’t come across on the other exchanges I’ve used. With the fee calculator, I know it’s going to cost me $1 to buy $500 worth of Bitcoin (BTC). I don’t have to wait until after the transaction settles to find out how much BTC I actually end up with.

• You need to be tech-savvy, understand how networks and blockchains work, and never ever lose your wallet seed phrase or kiss your coins goodbye.
• We do this by providing a free comparison service as well as product reviews from our editorial staff.
• I am a great supporter for reoccurring purchases as I believe is a great way to invest.
• Cryptocurrencies have grown in popularity in recent years.

Specifically, some users have complained about the slow response rate of support representatives and their inability to solve specific issues. It is among the highest in the Canadian FinTech industry and the first crypto platform to receive SOC2 Type II certification in Canada. Moreover, the feature provides investors access to expert traders to help them handle the execution and advise them during the process. These experts set up introductory consultations, communicate with you throughout the Slack channel, and present you with a quote for the trade.

Ratings & Reviews – NDAX

Best of all, Hardbacon users receive a $20 account credit when they choose Square One. When you dollar-cost average, you buy smaller amounts of crypto over a longer period of time at various price points. Instead of investing everything you have in one shot at a single price point, you make smaller purchases at an average price over time.

There are many Canadian crypto exchanges to choose from such as Bitbuy, which is Canada’s first regulated exchange. It has free deposits and several of the most popular cryptocurrencies. When trading cryptocurrency with NDAX, you can deposit Canadian dollars via a free 30-minute Interac e-Transfer, or via a free, one-day wire transfer or bank draft. Then we bought bitcoin and received $99.80 worth meaning we paid a fee of just $0.20 or 0.2%.

NDAX offers a set of powerful cryptocurrency trading tools for Canadians. While NDAX is safe, you should always consider moving crypto coins you are not actively trading to your cold hardware wallet. I sent a deposit using e-transfer and it said it is being reviewed. I am going to contact my bank and see if they can reverse the e-transfer. We also like that it offers advanced order types in a beginner-friendly interface.

It provides users with options for wealth management, which also includes crypto. It doesn’t charge any commission fees for its assets and offers over 50 coins for trading. I deposited a small amount of Bitcoin (.005), or $250 dollars and it took 6 hours to post to my account because the Bitcoin blockchain was going slower than normal. There ndax review are also a range of other cryptocurrencies that people can use to deposit, including Litecoin, Ether, Ripple, EOS, Stellar, Doge, Cardano, Tether, Chainlink, Polkadot, Uniswap, and many more. Once you have deposited, you must increase the security on your account before making a trade by enabling the 2FA, or two factor authentication.

Using the sidebar, you can link your bank account and set up recurring deposits. You can view your crypto addresses, your wallets and also access settings and support. Let’s cut right to the chase and talk about fees, one of the most important deciding factors when choosing an exchange platform. One of the best features of the NDAX platform is the low trading fees. They’re one of the least expensive cryptocurrency exchanges out there, charging only a 0.2% transaction fee to buy or sell crypto. That’s great news for beginners and those with less capital.

Despite her formal background in linguistics, Maja has always been fascinated by the world of finance. She has spent years and years analyzing the market, including trades, investments, pitfalls to avoid as well as the stock exchange. As of recent, she has been studying some non-mainstream stocks in Canada. When I’m not immersed in numbers, I like to spend time with my dog and plan my next trip.