This NDAX review covers how it works, its pros and cons, fees, security, crypto list, and more. You also learn how to get a $50 bonus through CoinSmart (more details below). If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada.
NDAX is a legitimate trading company that is registered with the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC) as a Money Service and Exchange Corporation. Then, you can share it with your network or on social media sites and earn FREE crypto for the referrals that have deposited at least CAD$100. The NDAX Wealth Over-The-Counter (OTC) services are one of the most reliable liquidity pools in North America. BBB directs its services to businesses and consumers in North America. Please select the region that you would like to explore today. As a matter of policy, BBB does not endorse any product, service or business.
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Considering all the points from above, NDAX is quite safe to use. It makes sure that your account remains available only to you, and no third-party users can hack it. There have been no issues with the exchange https://forex-reviews.org/ndax/ before, so it is a secure choice. Learn how to use this method to verify the identity of a person and protect Canada’s financial system from money laundering and terrorist financing activities.
Canadians looking to trade the Canadian dollar fiat for crypto can access the marketplace using platforms such as NDAX, CoinSmart, Bitbuy, and Wealthsimple Crypto. If your account is frozen you will need to contact NDAX’s support team. While NDAX is not in the habit of freezing accounts, many users have complained about their funds taking a long time to withdraw from the exchange. It doesn’t try too hard to be modern or to stand out from the crowd. The exchange is easy to navigate with clean white pages which makes it feels like a solid, reputable crypto exchange. Other than that, there aren’t many features that can confuse you.
- If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
- Spreads can often be hidden and the exchange won’t always be transparent.
- Despite her formal background in linguistics, Maja has always been fascinated by the world of finance.
- Compare dozens of Canadian crypto exchange platforms and find the one that best suits your needs.
- It’s even more important to choose your trading desk wisely, based on factors such as security, cost, speed and transparency.
- There are three ways to add money to your NDAX account, and they’re all free.
On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets. National Digital Asset Exchange Inc (NDAX) claims to have both the lowest fees and the most coins available in Canada. Both claims are out of date, considering Newton has zero fees and more cryptocurrencies available. Personally, I tend to not trust websites that state false claims.
Services
A lot of customers have had issues with their funds being held or unable to withdraw. Others complain about the withdrawal fees and “missing” funds. At the top of the page, you can select to view “All” markets or markets only against the Canadian dollar. The only difference between the two pages is that on “All” markets it lists BTC against USDT. The rest of the cryptocurrencies are listed with their price in Canadian dollars. Having these two pages with such little difference seems rather redundant.
NDAX holds most digital assets offline, in cold wallets secured with multi-signature technology. The global leader provides this storage in crypto security and infrastructure, Ledger Vault. Moreover, all accounts are protected by mandatory two-factor authentication (2FA) and alert notifications. I was new in crypto trading and I did wrong investment in a fraud company VKKCOIN. I lost 20, 000 from a fraud company called VKKCOIN wallet. I emailed the NDAX too many times about so called paying tax.
Is NDAX Safe and Legit?
A ticketing system is also available at with responses within 24 to 72 hours. 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. Perhaps one of the best features of staking on NDAX is the flexibility.
- I was able to get setup in just 10 minutes and begin funding my account through e-transfer.
- You have to complete the verification process to start working with the service.
- It also means you do not have to wait 10 minutes while NDAX verifies the transaction.
- Then, you’ll need to provide images of your government-issued ID and a selfie.
NDAX also offers reoccurring purchases, although it is currently only available through their website. I am a great supporter for reoccurring purchases as I believe is a great way to invest. The process is customizable to daily, weekly, and monthly purchases on all their coin offerings with a minimum of $15. Use this form to submit website feedback and suggestions, or to inform us about website issues.
Verification process
Loans Canada is not a mortgage broker and does not arrange mortgage loans or any other type of financial service. Instead, ShakePay has a variable price spread that can cost as much as 3% when both buying or selling. Account funding methods include Interac e-Transfer, wire transfer, or crypto funding (BTC or ETH). We’re on a mission to empower more Canadians to unlock the full potential of digital finance.
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There is a 0.2% buying fee and a 0.2% selling fee on trades. Funds deposited from a Canadian bank account into your NDAX are free. NDAX also welcomes new voices who wish to promote and review their platform. Furthermore, if you’re seeking sponsorships outside of its affiliate program, you can simply send an email to [email protected] with as much information as possible.
You make up to $1000 in referrals by sharing an affiliate link. You can receive up to 10% in commissions and $25 per referral, regardless of whether their trades cost $10 or thousands of dollars. You can also track how much crypto you’ve earned on their dashboard. You can withdraw crypto to your wallet or transfer fiat to your Canadian bank account for a flat-rate withdrawal fee of CAD $4.99 for bank transfers and wire transfers.
This link is what they, in turn, will use to sign up and create an account with NDAX rather than directly joining through the website. NDAX Referral Program is a program that encourages people to tell others about them. This way, more Canadians are aware fully of their platform.
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NDAX pays its affiliates 10% commissions and up to $25 per referral, which you will receive in CAD within 30 days. We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Sign up now to join thousands of other visitors who receive our bi-weekly newsletter and latest personal finance tips. Get access to multiple fiat currencies and advanced trading tools. In the past, the NDAX referral program paid clients up to $25 per referral; however, it appears this offer is no longer available.
