Keep an eye on prices, track your portfolio, use advanced trading features, securely store your crypto, and send crypto to friends, all from within the app. 3) NDAX offers 30+ of the most popular cryptocurrencies that you can buy directly using CAD. Although some users prefer a wider range of coins, for most beginners and day-traders, the range supported by NDAX is sufficient. New coins are also added from time to time, so their collection is slowly growing. I have used many other trading platforms and prefer NDAX by far.
The exchange provides its customers with access to a variety of fintech goods. Within the realm of decentralized finance , the primary service that this platform offers is a secure cryptocurrency wallet. The cryptocurrency wallet provided by NDAX is a trustworthy example of a hot wallet. I am now conviced they are part of a bigger ‘scam’ operation. As so many here have stated, twice I sent large sums through NDAAX, both around $20k US. I swear they take your money and use it for a few days.
NDAX Supported Currencies and Countries
In terms of facilitating communication, the platform assists with the recording of trade dates as well as the creation of Slack channels. In the context of the cryptocurrency market in Canada, “yes,” the exchange qualifies as a regulated company. At the moment, it is responsible for handling thousands of active merchants from the nation. Additionally, the platform is setting new records in terms of how quickly it has become an end-to-end completely compliant cryptocurrency trading platform. Every platform earns money off of the transactions you make however some of them just disguise the charge as part of the spread.
Still referring to the Details section above, the scores listed under the Threat profile, Phishing profile, Malware and Spam are exactly what they refer to. These scores are determined by the risk levels and elements that are detected inside the website, in the HTML code. Worked with John from NDAX Support and had transferred $2000 CAD to NDAX. Took about an hour due to my bank taking a while to send the eTransfer but everything went through smoothly and successfully. There is always someone there to help you with what ever challenges you… Our team of knowledgeable customer support representatives are standing by 24/7 to answer any questions that you may have.
I am on 6 other exchanges and the Customer Service at NDAX sets a high standard for the others to follow. I have never waited longer than 10 min for a response and every issue has been responded to promptly. Most of the mistakes are mine, as a newbie to this world, but I am never made to feel bad or incompetent. I have suggested they start customer service training classes for other exchanges. They are also the only exchange that I deal with that lists a phone number and actually has a live person to answer it.
Assets Listed on NDAX
Enter the NDAX staking protocol and earn up to 12% in yearly yield for locking up coins. There is an intuitive staking calculator where you can see exactly how much you will earn for each cryptocurrency staked. First, you need to send a message with your question, then a representative will contact you later on when they are available. I was surprised when the live chat started to send me notifications and I found Belle on the other side. A bigger pool of altcoins is also a huge plus and I know more traders would be attracted to sign up if NDAX would offer more coins.
After your account has been validated, you will have the option to make your first deposit using either cryptocurrencies or the Canadian dollar-denominated bank account of your choosing. 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. NDAX has recently released the first staking protocol among major cryptocurrency exchanges in Canada.
- Connecting your bank account and establishing one-time or reoccurring purchases of cryptocurrency as part of an automated system is one of the favorite features.
- Besides storage, this top crypto wallets product also enables long-term investments.
- We use dedicated people and clever technology to safeguard our platform.
- You will earn up to $25 for free when your friend opens an account and deposits $100.
Make sure to stay away from them as they are anonymous and that they can disappear any time without notice. Log in to NDAX.io and click on “Wallets” on your dashboard. Select your preferred bank from the dropdown and enter the amount you want to withdraw. Follow the onscreen prompt to provide your 2FA code. The funds should be in your account within 1 business day.
The primary purpose of these executive services is to take advantage of the lock-in advantages of crypto staking. The NDAX trading charge is excellent news for novice traders who are just starting out with a lesser amount of capital and are making fewer deals. Because the charge is in direct proportion to the total value of the transaction, the impact on their earnings will be mitigated to some degree. Another way to think about a spread is as the difference between the amount of cryptocurrency you want to buy and the amount of cryptocurrency you actually get when the trade is settled. There are several exchanges that will promote their free trading.
I have been doing trades with ndax.io for approx 5 months to date. I moved funds into wallet and tried to recover small amount for a test, so far good. I will be attempting a withdraw of larger amount soon, hopefully no issues. And want to challenge this review, we would like to hear from you indeed. Please send us a message to info at scam-detector dot com. If you would like the review changed, we are more than willing to take a deeper look.
There are three different methods that you may fund your NDAX account, and none of them will cost you anything. However if you decide to make a withdrawal from your account NDAX will charge you a fixed fee of $25. They are one of the cryptocurrency exchanges that have the lowest transaction fees, at just 0.2 percent, whether you are buying or selling crypto. This makes them one of the least costly options available. Verification occurs relatively rapidly if all of the information is right, with enabling averaging from automatic to one business day on average.
Interac e-Transfer is the main payment method used on the NDAX account. This electronic funds transfer service creates a gateway for users from Canadian banks and financial institutions to add funds to the NDAX trading account. When NDAX sends the account confirmation email, the user can instantly activate the account by clicking the link in that email. Additional details such as government-issued ID, proof of residence, passport, and crypto-friendly bank account are procured by the platform in this next phase of the registration process. One downside is that NDAX only supports 30+ different cryptocurrencies, which is a very limited range compared to some competitors. If you are after an exchange where you can buy lots of different coins, you can try Binance with over 600+ different cryptocurrencies.
Best Canadian crypto platform
This product is also available in a cold version, where the users can store a major share of their digital wealth in cold crypto wallets. The platform works as a crypto trading service provider. The cryptocurrency trading platforms provide OTC services for their users.
However, be prepared to offer us solid proof of your business. That means, please introduce yourself first and be transparent. They don’t trust websites that don’t show transparency, such as the location of the business, team, or any other physical existence. Sometimes, the sites’ owners don’t even know that their website is in the very close vicinity of dubious ones, as both may be hosted on a platform that is not safe to start with. However, if the ‘Proximity to suspicious websites’ score is very high you can rest assured that the website is definitely risky – and you should stay away from it.
Is ndax.io legit?
First-time users also receive $10 FREE signup bonus when registering with this link. The popularity of cryptocurrencies and Bitcoin trading has surged across the globe. People from different professional backgrounds are growingly becoming interested in crypto trading. Since the crypto market is a new domain in the finance world, most people are not sure how to make an entry. Several cryptocurrency exchanges are helping people become pro traders in Bitcoin, Ethereum, and other crypto coins to ease things out. The adoption of crypto exchanges is increasing activity in various countries.
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The customer support team is available via email – which is used to generate and track support tickets. The website is responsive and can solve customer queries within 24 hours ndax review of ticket submission. The standard trading fee to buy and/or sell Bitcoin and other cryptos on NDAX is 0.20%. This flat rate does not change based on the volume of the trade.
As per its website, a majority of its digital assets are held offline in cold storage, and fiat is held at a Canadian financial institution. Every account comes with its own unique affiliate link that you can share with friends. You will earn up to $25 for free when your friend opens an account and deposits $100.
I was only able to get my money back from them thanks to Reimburse Solutions. 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. 1) NDAX has a simple layout which is great for beginners, yet still manages to suit experienced traders with the advanced charts and order options. It is a platform that newcomers can start on, and continue to use even as they gain more knowledge. A lot of exchanges out there that didn’t deliver during the ‘stress test’ of the 40k high.