Newton vs NDAX: Compare Spreads, Fees, Security & More January 2024

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When NDAX moves funds from cold storage, multiple approvals from their senior management team are required, which prevents unauthorized internal transactions from occurring. If everything checks out, NDAX will confirm your account, and you’ll be ready to transfer funds and begin trading. If you are unsure you should get independent advice before you apply for any product or commit to any plan. NDAX supports over 33 cryptocurrencies, but some notable assets are missing. Namely, BNB, USDC and Lido Staked Ether, which are in the top 20 cryptos by market cap.

Thanks to the very intuitive interface, beginners and experienced traders will enjoy the dashboard that is developed to the highest standards. NDAX is well-suited for Canadian crypto traders on the hunt for the lowest trading fees, a user-friendly interface, and are primarily focused on popular cryptocurrencies. I love this platform for beginners thanks to its straightforward dashboard and low fees, which are particularly beneficial for anyone making smaller trades. Start building your crypto portfolio on Canada’s most secure trading platform. 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.

  1. You can easily fund your account by clicking Deposit at the top of your dashboard, selecting your preferred funding method, and then following the prompts.
  2. Newton also uses reliable security measures, as it’s partnered with Coinbase, which provides institutional-grade security for users’ assets.
  3. We do this by providing a free comparison service as well as product reviews from our editorial staff.
  4. While the exchange’s trading fees are not excessive, they can add up if you are looking to exchange one cryptocurrency for another.

Click on Withdraw at the top of your dashboard, enter your banking information, and then follow the prompts. Another stand-out feature is that you do not have to dig through your settings to set up payment methods in advance. You can easily fund your account by clicking Deposit at the top of your dashboard, selecting your preferred funding method, and then following the prompts. For more information, please read our editorial policy and find out how we make money.

NDAX fees

While the Quick Buy/Sell feature on the main dashboard certainly is convenient, it won’t meet the needs of more advanced traders. If you need more sophisticated tools, navigate to the menu panel on the left of your screen and click Trading. This is where you need to be vigilant and pull out that trusty calculator. Make sure everything adds up, that your trading fee is no more than 0.2%, and that you are not being shorted on the trade like I was. Our team of knowledgeable customer support representatives are standing by 24/7 to answer any questions that you may have. At Ndax, all deposits, from cryptocurrencies to Canadian dollars, are completely free.

Buy, Sell & TradeCrypto in Canada

Yes, NDAX is a legitimate cryptocurrency exchange founded in Canada in 2018. It is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and AMF (Autorité des ndax marchés financiers) as a Money Service Business. NDAX complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and other applicable laws and regulations.

At Trading Browser we aim to protect the end-user by delivering content that is fully transparent and aimed at user experience, trust, and security above all else. In a nutshell, we are a crypto guide with the right ambitions and values. Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers. By using segregated bank accounts for user fiat funds, NDAX utilizes their banking relationships to keep funds separate from the exchange’s operating capital. This allows for all parties involved to receive funds in the event of insolvency.

NDAX, which stands for the National Digital Asset Exchange is a Canadian cryptocurrency exchange based in Calgary. It’s been around since 2018 and is known for its large selection of cryptocurrencies, currently at 14 and counting. In this full NDAX review, I’ll let you know the benefits, as well as the limitations, of dealing with this popular crypto trading platform. NDAX is a very secure platform with its security standards among the highest in the Canadian FinTech industry. However, even the most secure exchange has a small chance that it can be hacked.

Product details

There’s also an option to stake some of the assets for further rewards. For both crypto and fiat currencies, NDAX charges flat withdrawal fees. Bank drafts and wire transfers cost $4.99 (CAD), while cryptocurrency withdrawals vary according to the cryptocurrency. However, if you send crypto to other NDAX users, there are no additional costs. Accessible and easy-to-use cryptocurrency trading for beginners and experienced traders alike.

Inside this review

These are the top 3 reasons why I like to recommend NDAX to Canadian crypto investors. There was no mystery discrepancy, the fee was a consistent 0.198%, lower than the advertised fee of 0.2%. I actually fetched a better price on my sale because NDAX quoted a BTC price that was 0.4% HIGHER than its live market price. We put over 50 apps to the test to find the best Canadian crypto exchanges in 2024. Explore the results below to find the best platform for your needs.

KuCoin Review

In February 2022, NDAX introduced staking, making it the first domestic Canadian exchange to add the much sought after feature. Look elsewhere if you want an exchange that’ll list any and every freshly-minted altcoin. Two-factor authentication (2FA) is used throughout, making it much more difficult for your account to be breached or taken over.

But when it came to calculating my fees, things got a little murky. While NDAX is considered one of the best crypto exchange platforms in Canada, here’s what to know before signing up. NDAX is a great Canadian cryptocurrency exchange for beginners as well as more advanced traders. There is a simple Quick Buy and Quick Sell feature that makes it extremely easy for first-timers to get their hands on their first cryptocurrency.

Advanced charts and order types allow experienced crypto traders to analyse trends and set automatic trades to maximise profits, and the low trading fees of 0.2% are very competitive. First-time users also receive $10 FREE signup bonus when registering with this link. NDAX stands for National Digital Asset Exchange and was founded in 2017 by Bilal Hammoud. The company is headquartered in Calgary, Alberta, Canada and is built on institutional-grade infrastructure. NDAX is considered to be Canada’s most advanced cryptocurrency trading platform. It offers a large portfolio of digital currencies that may be traded and paired with Canadian Dollars.

NDAX has partnered with Ledger Vault to secure your digital assets in cold storage. Ledger Vault is a third-party cold storage provider for individuals and institutions. Digital assets in their custody are insured against fraud, hack, internal theft, and hardware malfunction. Even with the ghost fee, the total trading cost on NDAX is significantly cheaper than massive exchanges like Kraken and Coinbase. Rest assured, NDAX really is one of the cheapest crypto trading platforms in Canada, even if the fees aren’t exactly transparent.

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. Assets that remain on the exchange in a hot wallet are similarly insured and secured with advanced technology called Multi-Party Computation. Multi-Party Computation (MPC) is an industry-recognized form of security that protects cryptocurrency stored in hot wallets from internal and external bad actors.

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