NDAX offers a range of features that make it stand out as a solid platform for Canadian crypto users. One of the first things I noticed is the thought and care they put into their educational resources. Each cryptocurrency listed on NDAX has its own dedicated page, covering the coin’s history, use cases, charting tools, and step-by-step guides on how to buy.
Cold Storage for Digital Assets
- In my case, my Interac e-Transfer was deposited within 30 minutes, so the process works as promised.
- Basically, it is a method of confirming a user’s digital identity on their online accounts using two different authentication factors as a combination.
- Some customers have had issues with their funds being held or being unable to withdraw.
- There are many Canadian crypto exchanges to choose from such as Bitbuy, which is Canada’s first regulated exchange.
While no exchange is risk-free, NDAX clearly goes the extra mile to protect its users – and that’s something I can appreciate. NDAX is also fully registered with FINTRAC and AMF, which means they operate under strict Canadian regulations. I’ve been testing crypto exchanges since 2016, and I know this compliance is a must if you want to avoid shady platforms. From a security and compliance standpoint, NDAX is among the safest in Canada. They also hold a SOC2 Type II certification, demonstrating robust data security practices. I’ve been testing crypto exchanges since 2016, and I have a lot to share from my experience.
Bitcoin (BTC) core advantages
The customer service seems fast, reliable and is available whenever needed. The deposit and withdrawal fee are affordable making it accessible even for new traders. The most reported con is that it is available only in Canada, but generally, the pros weigh out the cons to a great extent.
While the fees are generally competitive, they may still be higher than some other exchanges that offer lower fees for high-volume traders. However, the fee structure is transparent, and users can easily calculate how much they will pay for each trade based on their volume. One of the most important factors to consider when choosing an exchange is its fee structure.
First-time users also receive $10 FREE signup bonus when registering with this link. NDAX stands out as a reliable and user-friendly cryptocurrency exchange tailored for Canadian users. With its robust security measures, competitive fees, and a wide range of supported cryptocurrencies, NDAX is a solid choice for both novice and experienced traders. Security is a paramount concern for cryptocurrency traders, and Ndax goes to great lengths to ensure the protection of its users. The platform employs industry-leading security protocols, including two-factor authentication (2FA) and cold storage for the majority of its digital assets.
What I really appreciate is how NDAX has handled customer complaints over the years. They seem to take user feedback seriously, and it shows in the app’s current functionality and reliability. It’s no surprise that the app now enjoys such high ratings on both the App Store and Google Play. From my experience, the app performs smoothly, and the improvements they’ve made are a testament to their ongoing work and commitment to their customers. Two-factor authentication (2FA) is mandatory when you sign up, which I personally think is a great thing. Some exchanges let you skip it, but I’d rather be forced to enable 2FA than deal with the headache of unauthorized access.
My Overall Thoughts on Ndax
NDAX has a scrolling sidebar, which makes the desktop platform easy to navigate. Using the sidebar, you can link your ndax bank account and set up recurring deposits. You can view your crypto addresses, your wallets and also access settings and support. NDAX is a cryptocurrency exchange for Canadians, based in Calgary, aiming to compete with BitBuy as the most affordable crypto exchange in Canada. When I first tested and reviewed NDAX back in 2020, I listed quite a few drawbacks about the platform. But I have to admit, NDAX is one of those rare exchanges that consistently works to improve.
What Coins Are Available on Ndax?
The platform provides fast processing time for deposits and withdrawals. As of October 2021, the trading fee for buying and selling is fixed at a rate of 0.2%. NDAX is a Canadian-based cryptocurrency exchange known for its emphasis on security and compliance. NDAX employs industry-standard security measures to protect user accounts, such as SSL encryption and two-factor authentication (2FA). It also follows Anti-Money Laundering (AML) policies to help prevent fraudulent activities on its platform. To sum up, NDAX delivers a sturdy platform suited for trading cryptocurrency.
Digital assets in their custody are insured against fraud, hack, internal theft, and hardware malfunction. 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.
Table of Contents
- As we reflect on Bitcoin’s journey from a novel concept to a cornerstone of the digital economy, it’s clear that its impact extends beyond just financial transactions.
- Assets that remain on the exchange in a hot wallet are similarly insured and secured with advanced technology called Multi-Party Computation.
- Lastly, NDAX has achieved SOC 2 Type II certification, which is a big deal in the tech world and shows they consistently meet high security and data protection standards.
- When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider.
- It was the lowest I experienced so far at just 0.47% higher than BTC’s live market price.
The ability to whitelist wallet addresses and store them in an address book is a game-changer. By whitelisting, you can ensure funds can only be sent to trusted wallets, saving you time and peace of mind. Instead of waiting 10 minutes for NDAX to verify the transaction, you simply send funds to a whitelisted address, confirm via email, and you’re good to go. For example, imagine that you purchase Bitcoin at $10,000, and you want to limit your potential losses. If you set a trailing stop limit order with the trailing amount 10% below the current market price of $10,000, then the stop price will be $9,000 ($10,000 – $1,000).
Bonus Links For Canadians
There are a lot of great reasons to use Ndax, and I have highlighted some of the top features and advantages you will find on their platform.