NDAX review
- Fiat currencies
- 1
- Supported assets
- 37
Our verdict
NDAX lets you buy and sell crypto with Canadian dollars and take advantage of low fees: 0.2% for buying and selling cryptocurrency.
NDAX is a Canadian cryptocurrency exchange that serves millions of Canadians crypto enthusiasts – both newbies and seasoned pros alike.
The registration process for the exchange is painless, its user interface is easy to navigate and the trading fees on the platform are moderate.
NDAX offers you a safe and secure way to gain exposure to over 30 different crypto assets. And it also enables you to stake some of these assets to earn a yield on them.
Unfortunately, NDAX is only available to Canadian residents and the only fiat currency it allows you to deposit is Canadian dollars (CAD).
Pros
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Quick registration process and ID verification
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24/7 live customer support
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Low fees for buying and selling
Cons
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Not as many cryptos supported as some competitors
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Only supports CAD fiat currency
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Only available in Canada
Details
Product details
| Product Name | NDAX Cryptocurrency Trading Platform |
| Fiat Currencies | CAD |
| Cryptocurrencies | BTC, ETH, SOL, ADA, USDC, XRP, FTM, MATIC, HBAR, LINK, SHIB, ARB, DOGE, AVAX, XLM, OP, DOT, TIA, ALGO, LTC, VET, NEAR, INJ, TLM, GRT, ATOM, GALA, AXS, CELO, QNT, SAND, AAVE, MANA, COMP, UNI, EOS, RNDR |
| Deposit Methods |
Cryptocurrency Interac e-Transfer Wire transfer Bank draft |
| Trading Fee | 0.2% for buying and selling cryptocurrency |
| Deposit Fees |
Interac e-Transfer: Free Wire Transfer: Free Bank Draft: Free Cryptocurrency: Free |
| Withdrawal Fees |
Wire Transfer: Free Bank Direct: $4.99 Cryptocurrency: Fees vary |
Ratings methodology - how we scored NDAX
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earn | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
How we rate our crypto exchanges and platforms
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Our score and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.
Listed NDAX crypto exchange assets
NDAX supports over 37 cryptocurrencies, but some notable assets are missing. Namely, Tether, BNB and Lido Staked Ether, which are in the top 20 cryptos by market cap. In total, 13 of the top 20 cryptos are available on NDAX.
Popular assets on NDAXNDAX fees
NDAX Bank draft, wire transfer and interac e-transfer deposits are free for folks in Canada.
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Interac e-Transfer: Free Wire Transfer: Free Bank Draft: Free Cryptocurrency: Free |
| Withdraw funds | Wire Transfer: Free Bank Direct: $4.99 Cryptocurrency: Fees vary |
NDAX deposit methods
- Cryptocurrency
- Interac e-Transfer
- Wire transfer
- Bank draft
How to sign up on NDAX exchange
Before you can even get started trading on NDAX, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is NDAX's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your NDAX account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on NDAX.
Is NDAX safe?
NDAX employs best practices across the board for its security and insurance. It hasn’t experienced any hacks or data breaches. NDAX actively seeks to implement the most secure protocols and encourages its users to report any possible weaknesses they uncover.
The trading platform holds most of the crypto assets in cold storage. Moving funds to and from the cold storage requires multiple signatures from NDAX’s senior management. Additionally, NDAX’s cold storage is whitelisted which restricts which addresses that funds can be moved to. The hot wallets implement Multi-Party Computation (MPC) technology
Past hacks
NDAX hasn’t experienced any successful hacks on the trading platform.
NDAX security audits
NDAX is registered and fully compliant with FINTRAC and Securities Quebec as a Money Services Business (MSB). The trading platform complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). NDAX requires mandatory 2FA (2-factor authentication) to deposit or withdraw funds on the trading platform.
Both NDAX’s cold and hot wallet service providers are System and Organisational Controls (SOC) 2, type 1 certified. However, NDAX’s internal security hasn’t been audited.
Insurance. NDAX holds:
Keeping your crypto secure
All centralised exchanges, including NDAX, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
NDAX customer support
NDAX has several different customer support options. There is a comprehensive support page that covers the majority of issues and frequently asked questions that users may run into.
There is a live chat option in the bottom right of every page. However, you need to have a registered account to start this process so if your issue is with the registration process itself, then you will need to use a different option. The live chat option is responsive but if it is experiencing a high volume of tickets there may be a longer wait time.
You can also contact NDAX customer support via email through support@ndax.io or the customer support phone line 1-833-727-NDAX (6329). Both of these options are responsive but are not available 24/7. If you contact outside regular office hours they will respond the following day.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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