You can also deposit crypto to your NDAX account by transferring it in from an external crypto wallet. While NDAX does not charge fees for this, the transaction is still subject to blockchain fees, which are outside NDAX’s control and vary based on the coin and how congested the network is. NDAX holds a majority of user funds in an offline, multi-signature wallet. That’s a fancy way of saying that your digital assets are locked up tight and will be there when you want them. Some of the features of NDAX include free deposits, competitive fees for trading and withdrawals and register as a Money Service Business. NDAX offers access to 16 coins including world’s most popular cryptocurrencies including Bitcoin, Ether etc.
- NDAX is a very secure platform with its security standards among the highest in the Canadian FinTech industry.
- Thanks to the very intuitive interface, beginners and experienced traders will enjoy the dashboard that is developed to the highest standards.
- NDAX withdrawals have flat fees of $4.99 for Interac e-Transfers and wire transfers.
- As an example, the average ethereum transaction fee over the last three months has ranged from a high of US$16.16 to a low of about US$1.19.
- 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.
NDAX has minimal requirements to get started that makes it great for new crypto traders. There are many features that make NDAX ideal to get started with cryptocurrencies. If you like doing small tasks such as surveys, then you can also join a platform called ClixSense or YSense to earn some extra dollars on the side. I have made some money on YSense so I can safely recommend it without thinking twice.
How to sign up on NDAX exchange
It is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and AMF (Autorité des marchés financiers) as a Money Service Business. NDAX has become one of Canada’s favourite cryptocurrency exchanges, so let’s see what they offer that makes them so popular. If you’re thinking about staking crypto, make sure you understand the risks. For one thing, your coins may be locked while they’re staked, meaning you can’t spend or trade them. If the price of a coin plummets while it’s staked, you may not be able to sell if you want to.
Then, you can share it with your network or on social media sites and earn FREE crypto for the referrals that have deposited at least CAD$100. First of all, although my post will sound a bit harsh, I understand that it was my duty before investing with NDAX to carefully understand all the mechanism related to the exchange. As a relatively newcomer, I guess it is the growing pain of the steep learning curve of entering the crypto market. We do this by providing a free comparison service as well as product reviews from our editorial staff.
How much can you withdraw from NDAX?
While we are independent, we may receive compensation from our partners for featured placement of their products or services. Both NDAX and Bitbuy’s standard trading fee is similar (.20% to buy/sell), but Bitbuy maker trades are only .10%. For Canadian-based crypto exchanges, NDAX supports a surprisingly large number of digital currencies, 14 in total.
How trading fees affect your crypto purchases
Besides the super cheap trading fees and markups, NDAX also offers free funding methods. 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. Personalized, over-the-counter trading services for high-net-worth individuals and institutions seeking private, secure high-volume trades. Access deep liquidity pools, a broad selection of digital assets, and expert guidance.
I have over 13 years of Marketing experience working across different startups including BigBasket, FreshMenu, SimplyHired, GupShup etc. 0 BTC for new and unverified accounts, 2 BTC per day for basic accounts, 10 BTC per day and $500,000 per month for enhanced accounts. In this section, we will also show you one positive and one negative review of NDAX so you get a general idea about the platform. To know more about NDAX referral program, you can check this official link. You should also note that NDAX provides a $10 signing bonus to new accounts. 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.
How to Sell Crypto on NDAX
NDAX stands for National Digital Asset Exchange and was founded in 2017 by Bilal Hammoud. The company is headquartered in Calgary, Alberta, Canada and is built on institutional-grade infrastructure. NDAX is considered to be Canada’s most advanced cryptocurrency trading platform. It offers a large portfolio of digital currencies that may be traded and paired with Canadian Dollars. The exchange caters to mostly high net worth individuals, traders, and institutions. However, one does not need to be a large buyer in order to enjoy the world-class experience, security, and features that NDAX offers.
Secondly, the registration process is very smooth and their KYC process is extremely streamlined. 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.
NDAX is a versatile platform which is ideal for beginners and experienced traders. Additionally, the platform also provides users with NDAX Wealth which is an Over-The-Counter trading service giving access to a deep liquidity pool. Yes, NDAX is a legitimate cryptocurrency exchange founded in Canada in 2018.
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. NDAX cryptocurrency withdrawals are processed instantly and sent to the blockchain.
This allows for all parties involved to receive funds in the event of insolvency. NDAX maintains strict Know Your Client (KYC) processes aligned with industry best practices. Every NDAX user must enable Two-Factor Authentication (2FA) in order to withdraw or deposit funds. Users are also required to ndax confirm all withdrawals via email, acting as a third form of verification. NDAX also has protection insurance for their hot and cold storage assets. NDAX’s Distributed Denial-of-Service-Protection (DDoS) mitigation reliably monitors, resists, and defends against any threats to the NDAX platform.
It’s called Know Your Customer (KYC) information and is required in order for them to be compliant with Canadian financial regulations. However, NDAX is the first exchange I’ve used that asked for my Social Insurance Number (SIN). Providing your SIN is optional, but it definitely weirded me out a little bit because other major exchanges have not asked for my SIN. First, select your country of residence, then include your first and last name, username, email address and password. Click on Withdraw at the top of your dashboard, enter your banking information, and then follow the prompts.
The content provided on our site is for information only; it is not meant to be relied on or used in lieu of advice from a professional. Advertisers/partners are not responsible for and do not influence any of the editorial content appearing on MoneySense.ca. Our Advertisers/partners are also not responsible for the accuracy of the information on our site. Be sure to review the provider’s terms and conditions for all products and services displayed on MoneySense.ca.