NDAX Review 2024

Our veredict

NDAX is a Canadian cryptocurrency exchange known for its low trading fees, ease of use, and strong security measures. It offers a user-friendly platform suitable for both beginners and experienced traders, with features like same-day CAD deposits and withdrawals, an OTC trading desk for large transactions, and a variety of order types including trailing stop and limit orders (Skrumble) (Hedge With Crypto). NDAX is registered with FINTRAC and Securities Quebec, ensuring compliance with Canadian regulations, and it employs rigorous security protocols including cold storage with multi-signature and whitelisting, as well as 2FA for transactions.

However, NDAX is limited to Canadian users, and all fiat transactions are in Canadian dollars, which may not suit those outside Canada. Additionally, while it provides 24/7 customer support, response times can vary, and some users report issues with high withdrawal fees compared to other exchanges. Overall, NDAX is a solid choice for Canadian residents looking for a secure and efficient platform to trade cryptocurrencies.

Pros

Low Trading Fees: NDAX charges a competitive trading fee of 0.2% per transaction, making it an affordable option for buying and selling cryptocurrencies.
Strong Security Measures: NDAX employs robust security protocols, including SSL encryption, two-factor authentication, and cold storage for digital assets, ensuring user funds are well protected.
No Deposit Fees: The platform does not charge fees for deposits made via Interac e-Transfer, wire transfer, or bank draft, which is convenient for Canadian users.

Cons

3,5

Threenvest Score

Fees

0.20% per transaction

U.S Legal

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose NDAX?

Choosing NDAX as your cryptocurrency exchange can be a strategic move for several compelling reasons. Firstly, NDAX offers some of the lowest trading fees in Canada, with a flat fee of 0.20% for both buying and selling cryptocurrencies. This competitive pricing makes it an attractive option for frequent traders and those looking to maximize their investment returns.

Secondly, the platform is designed with user experience in mind. NDAX’s interface is intuitive and easy to navigate, making it suitable for both beginners and experienced traders. The availability of advanced trading features such as limit orders, stop orders, and a comprehensive dashboard provides traders with the tools they need to execute their strategies effectively. Additionally, the platform supports a wide range of cryptocurrencies, allowing users to diversify their portfolios easily.

Lastly, NDAX stands out due to its strong security measures. The exchange employs robust security protocols, including cold storage for the majority of its assets, two-factor authentication (2FA), and multi-signature processes for transactions. Furthermore, NDAX is fully compliant with Canadian regulations, being registered with FINTRAC and adhering to strict guidelines to prevent fraud and money laundering. These measures provide a high level of trust and security for users, ensuring that their investments are well-protected.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I highly recommend NDAX for Canadian cryptocurrency traders. NDAX excels with its competitive trading fees at just 0.20%, making it an economical choice for frequent trading. The platform’s robust security features, including cold storage and two-factor authentication, ensure that your investments are safe. Additionally, NDAX’s user-friendly interface and 24/7 customer support make it accessible and reliable for both beginners and seasoned traders. For Canadians seeking a secure, cost-effective, and easy-to-use exchange, NDAX is an excellent option.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.