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NDAX Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
NDAX logo
4.05
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit NDAX

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

NDAX provides a balanced trading strategy, with its deep liquidity pool and a selection of cryptocurrencies available for trading. The exchange platform has established itself as a choice for traders in Canada, offering an affordable trading experience without compromising on advanced trading tools.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Secure platform with strong compliance
  • Supports multiple cryptocurrencies
  • User-friendly interface
  • CAD to crypto trading pairs available
  • Responsive customer support

Cons

  • Limited selection of altcoins
  • Higher fees compared to some competitors
  • No margin trading
  • Limited advanced trading features
  • Withdrawal fees for certain coins and fiat

Quick Summary

Headquarters Location Calgary, Alberta, Canada
Fiat Currencies Supported USD, CAD
Total Supported Cryptocurrencies 34+
Trading Fees 0.20%
Deposit Methods Bank Transfer, Cryptocurrency, Interac e-Transfer
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

NDAX, or National Digital Asset Exchange, is a pioneering force in the Canadian cryptocurrency exchange landscape, offering a wide range of digital assets for trading to both individual investors and businesses.

NDAX homepage

NDAX has carved out a significant niche in the expanding universe of digital asset trading. As a gateway to the world of cryptocurrencies for Canadians, the exchange has become synonymous with trust and efficiency.

Its impact extends beyond mere functionality, as it serves as a beacon for responsible and progressive engagement with the financial technology of the future. The importance of such platforms cannot be understated in an era where digital assets are becoming increasingly integrated into the everyday financial landscape, playing a pivotal role in shaping the contours of modern investment strategies.

About NDAX

NDAX is a Canadian exchange, boasting a robust platform that caters to the needs of novice and experienced traders alike. The exchange’s history is steeped in a commitment to facilitating the easy and safe trading of Bitcoin, Ethereum, and a selection of other digital currencies.

Navigating through the ebbs and flows of the crypto market, NDAX’s journey has been a testament to resilience in a sector known for its volatility. Since its inception, the exchange has witnessed several cycles of the crypto market—bearing witness to the sharp ascents and tumultuous declines characteristic of digital assets.

NDAX features

Moreover, NDAX’s progression has paralleled significant industry milestones such as the introduction of major cryptocurrencies and the growth of blockchain technologies that continue to redefine and expand the use case of digital assets. Amidst these market dynamics, the exchange has continued to evolve, catering to the changing needs of its user base and the broader digital economy.

NDAX has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, TikTok and YouTube.

NDAX has a mobile app on both the Apple App Store and Google Play.

NDAX Supported Cryptocurrencies

NDAX supports trading on over 34 cryptocurrencies on their platform. This exchange currently supports 18 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • Solana (SOL)
  • BNB (BNB)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Avalanche (AVAX)
  • Dogecoin (DOGE)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)
  • Toncoin (TON)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • NEAR Protocol (NEAR)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Aptos (APT)
  • UNUS SED LEO (LEO)
  • Dai (DAI)
  • Internet Computer (ICP)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Ethereum Classic (ETC)
  • Bittensor (TAO)
  • Render (RNDR)
  • Arbitrum (ARB)

View all cryptocurrencies NDAX supports

  • AAVE
  • ADA
  • ALGO
  • ARB
  • ATOM
  • AVAX
  • AXS
  • BTC
  • CELO
  • COMP
  • DOGE
  • DOT
  • EOS
  • ETH
  • FTM
  • GALA
  • GRT
  • HBAR
  • LINK
  • LTC
  • LUNC
  • MANA
  • MATIC
  • NEAR
  • SAND
  • SHIB
  • SOL
  • TLM
  • UNI
  • USDC
  • USDT
  • VET
  • XLM
  • XRP

Trading Experience

NDAX offers a trading experience that is both user-friendly and sophisticated. The mobile app enhances accessibility, with a seamless interface that caters to trading on the go.

Trading features are designed to accommodate the requirements of both beginner traders and professional traders.

The experience of trading on NDAX is tailored to meet the demands of a varied clientele. The platform achieves a delicate balance between simplicity for those new to the space and the complexity required by advanced traders seeking depth in market analysis and trade execution.

The provision of tools and resources that empower traders to make informed decisions is central to the exchange’s design philosophy. The aim is to create an environment where trading is not just about transactions but also about knowledge-sharing and community building.

NDAX exchange marketing

NDAX Fees

NDAX has structured its fees to remain competitive within the market. Their fee system is designed to be transparent and straightforward, ensuring users are aware of the cost associated with trading, deposit, and withdrawal transactions.

Transparency in fee structures plays a crucial role in maintaining trust between an exchange and its users. NDAX aligns with this philosophy by offering a clear explanation of its fee framework, which is vital for traders in planning and executing their trading strategies effectively.

The exchange employs a fee model that accommodates the diverse requirements of its diverse user base, from those making their first foray into digital assets to seasoned individuals managing substantial portfolios. This approach ensures that all participants, irrespective of their trading volume or frequency, can engage with the platform with a clear understanding of the costs involved.

Type Fee
Deposit Fee (Bank Transfer) 0%
Trading Fee 0.20%
Withdrawal Fee (Bank Transfer) $4.99 CAD

NDAX supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.000399 BTC compared to the industry average of 0.000075 BTC. So NDAX has a fee that is above the industry average by 432.00%.

Security - Is NDAX Safe?

The level of safety provided by NDAX is impressive, with a combination of cold storage for digital assets, as well as a compliance team diligently working to protect users’ investments. Security measures are taken seriously, ensuring peace of mind for traders.

In the digital age, the security of an exchange is paramount. NDAX underscores this by implementing a multi-tiered security infrastructure that mitigates risks and safeguards user assets.

By combining state-of-the-art technology with rigorous operational protocols, the platform assures its users that their investments are protected against both external threats and internal vulnerabilities. The diligent efforts of the compliance team further fortify the exchange, as they monitor for suspicious activities and work to ensure adherence to the highest regulatory standards, thus contributing to the integrity and reliability of the platform.

NDAX Customer Support

Customer service is a standout feature at NDAX, with knowledgeable support agents ready to assist users. Support is accessible and provides timely help, reflecting the exchange’s understanding of the importance of customer satisfaction.

Quality customer support can be the defining factor in a user’s experience with an exchange. NDAX’s dedication to customer service is evident in the professionalism and readiness of its support agents.

These agents are more than just troubleshooters; they are guides in the sometimes complex world of cryptocurrency trading, eager to assist and educate users. The assistance offered by the support team underscores the exchange’s commitment to fostering a user-centric culture that values and responds to the needs of its community.

NDAX support

NDAX Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on NDAX

  1. Create Account - Visit the NDAX website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Interac e-Transfer

NDAX Alternatives

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Binance

3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
386+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

Visit Binance
Kraken logo

Kraken

3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

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OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

With a dedicated focus on user experience and market needs, NDAX stands out as a comprehensive trading service. It is clear that the platform is committed to enhancing crypto adoption and providing investment solutions tailored to Canadian investors.

NDAX FAQs

NDAX, which stands for National Digital Asset Exchange, is a Canadian-based cryptocurrency exchange known for its emphasis on security and compliance. They employ industry-standard security measures, such as SSL encryption and two-factor authentication (2FA) to protect user accounts.

NDAX also follows Anti-Money Laundering (AML) policies to help prevent fraudulent activities on its platform.

The withdrawal process time from NDAX to your bank account can vary depending on several factors, including the method of withdrawal and the processing times of the banks involved. Typically, withdrawing fiat currency to a bank account may take anywhere from a few hours up to several business days.

NDAX provides users with an online wallet to store their cryptocurrencies. While you can use this wallet for your transactions on their platform, it is also possible to use an external wallet if you prefer to transfer and hold your digital assets outside of the exchange.

NDAX adheres to a strict Anti-Money Laundering (AML) policy, which includes measures like Know Your Customer (KYC) verification, monitoring of suspicious transactions, and compliance with legal reporting obligations. These efforts are in place to prevent the misuse of their services for money laundering or terrorist financing.

On NDAX, users can trade various cryptocurrencies, which may result in potential profits based on market movements and trading strategies. However, trading cryptocurrencies involves risk, and profits are not guaranteed.

To transfer money from NDAX to your bank account, you need to log in to your NDAX account, navigate to the wallet section, select the fiat currency you wish to withdraw, enter the amount, and follow the instructions to complete the withdrawal to your linked bank account.

Transactions on NDAX, like any other cryptocurrency exchange, can be taxable events. In many jurisdictions, trading, selling, or using cryptocurrencies for purchases may trigger capital gains taxes or other tax liabilities.

It’s recommended to consult with a tax professional for advice specific to your situation.

NDAX offers various features on its platform. However, specific details like the minimum staking amount can change over time.

Users should refer to NDAX’s official resources or contact their customer support for the most up-to-date information regarding minimum requirements for features available on their platform.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
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Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: