Coinsquare supports 40 cryptocurrencies including bitcoin, Ethereum, Dogecoin, Litecoin and so on. Even better, depositing and withdrawing your bitcoin or Ether is also free because Shakepay covers the miner fees and gas fees respectively. Newton supports 55+ different cryptocurrencies including bitcoin and Ethereum, compared to 30+ at NDAX. And if you manage to refer more than 20 people in a month, you can earn the maximum bonus of $25 and 30% lifetime revenue share on those users.
NDAX was established in 2018, with its primary focus on offering fast, easy and safe crypto trading for both individuals and institutions. 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. After going through the list of security features NDAX employs to protect users’ funds and accounts, I had no doubts about placing my first deposit on their platform. Fiat withdrawals come with a fixed fee of $4.99, while the withdrawal fees for crypto transfers are individually calculated based on the current load of their native blockchain. Despite the feature-rich trading platform, I don’t think that NDAX targets professional traders only.
Is NDAX good for beginners?
Both Shakepay and NDAX supports Interac e-transfers for account funding so you can start trading almost immediately. The best way to secure your cryptocurrencies is using a hardware wallet that is not connected to the internet. NDAX is registered and regulated as a Money Service Business with FINTRAC. So the platform is legit and you can be sure you’re dealing with a company that follows all applicable Canadian laws and regulations. But NDAX goes a step further by paying you a higher bonus depending on the number of users you refer.
- You can get on the waitlist for the card when you sign up for a Shakepay account.
- NDAX is a very secure platform with its security standards among the highest in the Canadian FinTech industry.
- Also, all supported cryptos can be easily transferred from your external wallet to your in-exchange NDAX wallet.
- Cryptocurrency deposit and withdrawal speeds are dependent on network congestion.
Exchanges form staking pools that users can enter with minimal investment capital and without any concerns about the technical requirements. The earned profit is then shared between participants, depending on their contribution. You won’t find a never-ending coin list on NDAX, but you’ll definitely be pleased to trade with the 30 most popular crypto assets against the Canadian Dollar. The platform has an affiliate program for existing users to invite over their friends and acquaintances. For users who refer up to 10 other users, they give and get $10 per each new user that signs up, and a 10% lifetime trading fee from the revenue generated from those users.
The trading platform charges a 0.2% trading fee which enables it to reduce the cost of deposits and withdrawals. This number is on par with the global standard of trading platforms. You may find slightly lower fees on other exchanges but those deals come with certain https://forex-review.net/ndax-crypto/ conditions — large trading volume or a position of a maker. NDAX is one of the best cryptocurrency trading platforms in Canada providing access to over 30 digital coins at a lower cost. Overall, NDAX offers a superior crypto trading platform than Coinsquare.
Every user can apply for an affiliate link and then share and promote it within their network. For each new member who signs through that link, the user receives up to $10 and a 10% commission from all the trading fees the referee pays per transaction. This program is based on a loyalty-threshold system and comes with a handy profit tracker. Fast deposits mean you won’t need days or even a week to have your CAD delivered to your exchange account. Believe me, it’s “now or never” on the crypto scene as crypto prices change with the speed of light.
Withdrawal fees are fixed and can be seen on NDAX’s fee schedule. The exchange charges a flat fee so the customer does not ever have to worry about the uncertainty of network fees. The cryptocurrency space has been steadily growing over the last few years, despite the price of bitcoin failing to reach a new all-time high.
NDAX gives you easy access to your digital assets, plus reports that show your trading activity and portfolio growth on a daily, monthly, or yearly basis. You can even set up recurring buys on assets like Bitcoin, Ethereum, and dozens of other coins so you can invest in cryptocurrency on your own schedule. Newton is a Toronto-based crypto trading platform that was launched in 2018 and now has a user base of over 200,000 users as of May 2021. The National Digital Asset Exchange Inc. (NDAX) is one of best crypto trading platforms available to Canadians looking to start trading in cryptocurrencies.
NDAX Trading Fees
Finally, there is a possibility for creating a business account but I couldn’t find any details on the NDAX webpage about the advantages for institutional investors. I guess you should personally reach out to a support agent to send you a business application. Where we list or describe different products and services, we try to give you the information you need to help you
compare them and choose the right product or service for you. We may also have tips and more information to help you
compare providers. This almost automates dollar-cost averaging your investment in cryptocurrencies. Dollar-cost averaging your investment into BTC, at $100 per month for the last five years, would’ve meant a total investment of $6,000, which would now be worth over $41,000.
So you’ll pay the same amount whether you’re withdrawing just $100 or $1,000. You will be charged a flat rate for transferring cryptocurrency out of NDAX, based on the coin. To see a full list of all the coins and their respective fees, click here. NDAX has become one of Canada’s favourite cryptocurrency exchanges, so let’s see what they offer that makes them so popular.
Crypto Withdrawal Fees
The material contained on this website is for informational purposes only and RankFi.com, and its affiliates, is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell investments nor is it to be construed as investment advice. RankFi.com is not a registered investment, legal or tax advisor or a broker/dealer. All content should be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment. 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’s obligatory for full AML/CFT compliance, and you can’t use any of the exchange services without completing it.
- NDAX is a solid cryptocurrency trading platform, offering a broad range of cryptocurrencies, and staking options.
- They can negatively affect or falsely boost the price movement of the crypto being traded.
- However, the downsides include low volume on certain altcoins, high crypto withdrawal fees, and a limited selection of assets.
- You should always combine multiple sources of information and analysis before making an
investment and seek independent expert financial advice.
NDAX is an excellent crypto exchange that makes it easy for newcomers to the crypto market to buy and sell their first cryptocurrency. These are the top 3 reasons why I like to recommend NDAX to Canadian crypto investors. After the verification process you’ll need to wait for your account to be verified by the trading platform. NDAX states it could take 1 or 2 business days to verify your account.