Multi-Party Computation (MPC) technology is another security feature that NDAX has implemented. This technology provides an advanced security level for hot wallet management solutions to protect stored assets from internal and external threats. A full list of the security measures used by NDAX can be viewed on their website.
NDAX customer care team can be reached immediately through the live chat feature on the platform. If there’s no pressing need for immediate assistance, you can also contact the support team by email. You can also call the exchange customer service centre. NDAX does not provide a 24/7 customer support service to assist with day-to-day troubleshooting issues.
- Overall, NDAX is less popular than apps like Shakepay and Coinbase, yet it’s one of the cheapest places to buy Bitcoin in Canada.
- It is a platform that newcomers can start on, and continue to use even as they gain more knowledge.
- NDAX.IO is a reputable altcoin trading platform that was founded in 2014 in the province of Alberta.
- The NDAX over-the-counter trading desk gives crypto investors access to a diverse assortment of crypto assets and deep liquidity.
- In November I had no problem transferring ETH to another wallet.
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 Canada also incorporates the Multi-Party Computation (MPC) technology, a cryptographic technique that keeps data private and secure and ensures the safety of users’ accounts and assets. NDAX’s security protocols are among the most stringent in the Canadian fintech field. To begin with, the exchange stores the overwhelming bulk of its virtual currencies in offline cold storage systems. These systems are protected by a multi-signature protocol designed by Ledger Vault, the industry’s leading crypto security company. The NDAX trading platform transaction fees are quite modest compared to other platforms.
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Perhaps one of the best features of staking on NDAX is the flexibility. You can stake your assets for up to 36 months and, depending on the plan you choose, you can unstake instantly. Two-factor authentication (2FA) is used throughout, making it much more difficult for your account to be breached or taken over. We try to keep our fees as low as possible, and in line with Canadian market averages. Our Website may link to external sites or content not controlled by us. Such links don’t imply our endorsement, and we aren’t liable for the content, products, or services of these third-party entities.
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However, you don’t have to be a high-volume trader to enjoy NDAX’s financial services. Many retail traders use this platform to trade in a fast, efficient, and safe manner, thanks to NDAX’s strict regulatory compliance and impressive security. ndax review Getting started with cryptocurrencies can be confusing for new investors, so it is essential to find an exchange that is easy to use. NDAX has created a trading platform to buy and sell popular digital currencies without complications.
Ihad a issue with the 2FA also as they…
Please follow up with us directly at if you have any further questions or concerns in the meantime. Gain trust and grow your business with customer reviews. They also have CAD 5 million in general business liability. It is possible to stake Cardano, Polkadot, Ethereum, Matic, and The Graph on NDAX. Yields are competitive — I checked — with what’s available elsewhere. Using it is extremely simple and fast, which is what I’ve come to expect of NDAX.
I ended up with 4 dollars in my Wallet, 16 dollars of BTC is gone, no explanation. They do remove some fees when you move it around (about 4 cents) but they don’t allow you to withdraw your full amount, then the rest vanish. At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff. Funds deposited from a Canadian bank account into your NDAX are free.
I had 2 or 3 minor issues over the year but customer service took care of it in a timely fashion. I wish they had futures trading but Canadian law wont allow it. Got verified within a few minutes of uploading the required documents. I never keep my Bitcoins in the exchange (got burned for 3.5 BTC in the MtGox fiasco). The $25 fee for withdrawals (any withdrawal) is pretty steep for a small test transaction but it was worth the entire process.
It has fast and free CAD deposits via e-transfer and wire transfer. Withdrawals have a $4.99 fixed fee which was lowered from $25. After testing 18 Canadian brokers and exchanges, NDAX was one of the cheapest apps overall.
A lot of exchanges out there that didn’t deliver during the ‘stress test’ of the 40k high. If you want to withdraw or send above $2500 their fee is always only $25 (solid money). If you buy small amount of crypto for fun or curious , don’t use Ndax use another platform. Read their fee rule to understand before you register. If you understand their fee, everything will be good.My only complaint is why they don’t have a debit deposit.
Inside this review
After factoring in trading fees, spreads and more, they have some of the lowest fees in Canada. It’s a great place to quickly buy Bitcoin and popular cryptocurrencies with Canadian dollars. I am surprised about these several negative comments. I have been using Ndax for about a year and I didn’t have any problems.
I don’t trade really, just purchasing, and I haven’t had any issues. Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. There is a 0.2% buying fee and a 0.2% selling fee on trades. Although there are exchanges where you can stake a wider choice of assets, NDAX have told me that they plan on expanding what can be staked in future.
This Canadian exchange protects your money in the event of an insurable incident, such as fraud. The exchange keeps customers’ fiat currencies safe in segregated savings accounts in a Canadian bank to keep them separate from NDAX’s operational budget. In case of bankruptcy, fiat assets can be allocated to the authorized recipients. NDAX Wealth is a crypto OTC trading desk for cryptocurrency investors who plan on investing at least $200,000 in digital assets. NDAX also provides various financing options that guarantee same-day clearance of your CAD or USD bank transactions. Some payment options include Interac e-Transfer, wire transfer, bank draft and direct bank transfer.
Overall, NDAX is one of the best platforms for Canadians to buy cryptocurrency. Commissions are lower than those on most Canadian crypto exchanges. Being able to add funds via e-transfer is a big advantage.
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. 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.