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Last Updated Jun 27, 2023  |  Affiliate Disclosure

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  • NDAX is a fully regulated Canadian cryptocurrency exchange that's based in Calgary, Alberta.
  • Some of its key features include 30+ cryptocurrencies, 0.20% trading fees, and an easy-to-use interface with beginner and advanced trading tools.
  • My tests showed it was one of the cheapest places to buy Bitcoin in Canada, with an all-in fee of only 0.49%. This was first place out of 18 platforms.

What Is NDAX?

NDAX.io (National Digital Asset Exchange) is a Calgary-based cryptocurrency exchange founded in 2018. They offer 30+ cryptocurrencies, beginner and advanced trading tools, free interac e-transfers, and a simple user interface. 

One of its key selling points is their low fees. 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.

Things To Know

  • The trading fees are 0.20%
  • Canadians can buy and sell 30+ cryptocurrencies
  • Deposits are free however, withdrawals cost $4.99
  • It's has both beginners and advanced trading tools
  • Our tests showed it was the cheapest place to buy Bitcoin
  • However, some small altcoins have low volume and can be expensive
  • It's fully compliant and regulated in Canada
  • They've been operating since 2018 and have never been hacked
  • Other features include recurring buys, staking, and an OTC desk
  • The crypto withdrawal fees and staking fees are relatively high

Pros & Cons

  • Good Prices: Lowest fee to buy Bitcoin and cash out Bitcoin in Canada (18 platforms tested).
  • Good User Interface: Users enjoy beginner and advanced trading features.
  • Great Fiat On and Off-Ramp: Fast e-transfers and bank transfers supported.
  • Good Security: Based in Canada, never been hacked and fully regulated.
  • Fast Sign Up: Start trading the same day with NDAX's automated approval process.
  • Expensive for Small Altcoins: Just like many Canadian-based exchanges, some small altcoins have low liquidity and therefore, can be expensive.
  • Cashing Out: Withdrawals costs $4.99 CAD and doesn't have an e-Transfer option.
  • Slow Crypto Transfers: NDAX will hold your crypto much longer than the actual blockchain times, sometimes for hours or days. Sometimes, they will also lock your funds and ask you tons of questions due to "compliance".
  • High Crypto Withdrawal Fees: Some coins are expensive and competitors like Newton, VirgoCX, Shakepay have free or cheaper crypto withdrawals.
  • Small Selection Of Assets: They are slow to add coins and only support 30+ cryptocurrencies.

Key Features & Benefits

NDAX Web App Dark Mode
  • Low Purchase Fees: If you want to buy Bitcoin with Canadian dollars, my tests showed that NDAX was the cheapest place to do so out of 18 platforms. NDAX has free CAD deposits and a 0.20% trading fee, with the all-in fee being 0.49% at the time of the test. However, some of the less popular altcoins are not as cheap.
  • Trading For All Levels: NDAX offers a "Quick Buy/Sell" for beginners as well as a Pro Trading Terminal with charting tools, live order books, and advanced order types for more experienced users. Overall, the user-interface is simple and you can use the website or mobile app.
  • Fast Verification: Opening an NDAX account took me just a few minutes. After uploading my ID and filling out the info, I was automatically verified and ready to trade within minutes.
  • Free Interac e-Transfers: NDAX is a good fiat on-ramp. With free Interac e-Transfers and bank transfers, you can quickly add funds and buy crypto from your Canadian bank account. 
  • Secure and Regulated: NDAX is a legal crypto exchange who is licensed with Canadian regulators. In addition to that, they store crypto in cold storage and have been operating since 2018 without any hacks or incidents.

Other NDAX Features

  • Staking: NDAX supports staking for 5 crypto assets and charges a 20% admin fee.
  • Recurring Purchases: For anyone looking to dollar-cost average (DCA), NDAX helps you set up recurring buys. You can buy any coin on autopilot on a daily, weekly, or monthly timeframe. 
  • NDAX Wealth: Investors looking to trade $200,000 or more can visit the NDAX OTC desk. They give you a personalized service, a deep liquidity pool, and help you trade at higher volumes with reduced slippage. 
  • Affiliate Program: You can invite friends to NDAX and earn up to $25 when they sign up. Your friend will also get $10 free once they deposit $100.
  • Instant Crypto: This feature allows you to send or receive payments and gifts to friends.

NDAX Walkthrough

Home Dashboard

NDAX Web App Home Page

On the home dashboard you can get an overview of your portfolio value, transaction history and other information. There is also a Quick Buy/Sell section on the top right section of the screen. This is the easiest and quickest way for beginners to make trades on NDAX.

Advanced Trade

NDAX Web App Advanced Trading

Here, users can access TradingView Charts with technical analysis tools. In the screenshot above, you'll also see there is a live order book, price alerts, and many CAD trading pairs. If you need to trade on the go, everything is available on the NDAX mobile app as well. There are also many advanced order types like:

  • Market Orders
  • Limit Orders
  • Stop
  • Stop limit
  • Trailing stop market
  • Trailing stop limit
  • Fill or kill
  • IOC
  • Reserve order  

Crypto Staking

NDAX Staking

NDAX's staking service supports Ethereum (ETH), Polkadot (DOT), Cardano (ADA), The Graph (GRT), and Polygon (MATIC). Depending on the asset, the APY falls between 4.8% to 12% and payouts are made daily or weekly. However, the downside is NDAX charges a 20% admin fee and doesn't have the highest rates. Another alternative to research would be Kraken because it has more coins and zero-fee staking.

Customer Service

NDAX.io can be contacted through live chat, email and phone. If you don't need to speak with a member of their team, you can visit the help desk for answers to common FAQs. According to reviews online and my personal experience, NDAX has great customer support. A Google Review online wrote:

"I'm on many different crypto exchanges so I can say from experience, the customer service on NDAX is really the best! Can't believe how fast they solve the problems compared to other exchanges! Quick, polite, professional!"

NDAX Fees & Spread

After testing 18 Canadian brokers and exchanges, NDAX was one of the cheapest apps overall. NDAX had a 0.49% total BTC purchase fee (1st place) and a 0.26% + $4.99 total fee to cash out BTC to your bank (1st place). The BTC spread was 0.35% (6th place). Out of 18 platforms tested and all fees considered, NDAX had the lowest fees for buying Bitcoin in Canada

RankFi Price Test

Deposit & Withdrawals

Overall, NDAX is a good fiat on/off ramp in Canada. It has fast and free CAD deposits via e-transfer and wire transfer. Withdrawals have a $4.99 fixed fee which was lowered from $25.

When it comes to crypto withdrawals, the fees are not the cheapest in Canada. NDAX also holds crypto transfers long after its been processed on the blockchain, sometimes for days. NDAX has a flat fee to withdraw Bitcoin and cryptocurrencies. For BTC, it's a 0.000399 BTC withdrawal fee ($23 fee when this was written). On NewtonVirgoCX and Shakepay BTC withdrawals are free.

CAD Deposit Methods




Limits (24 hours)

Interac e-Transfer


0-30 Minutes

Max $10,000

Wire Transfer


0-1 Business Day

No Limits

Bank Draft


0-1 Business Day

No Limits

CAD Withdrawal Methods




Limits (24 hours)

Wire Transfer


0-1 Business Day

No Limits

Direct Bank Transfer


0-1 Business Day

No Limits

Crypto Withdrawal Fees



Minimum Withdrawal


0.000399 BTC

0.000399 BTC


0.0099 ETH

0.0099 ETH








NDAX has been operating since 2018 and has never had any hacks. In addition, they hold crypto in cold storage, are working with regulators in Canada, and have strict security protocols. You can also add extra protection to your account with features like two-factor authentication and address whitelisting.

All things considered, NDAX is safe, just like any other regulated platform in Canada. However, they are still a centralized exchange who has control over your funds. It doesn't beat a self-custody wallet like a hardware wallet.

Company Security Measures

  • Never had any hacks (founded in 2018)
  • FINTRAC Registered: #M18632135
  • Pre-registered with the Ontario Securities Commission (OSC)
  • Holds majority of crypto in cold storage (but doesn't say how much)
  • Multi-Signature approvals to move crypto out of cold storage
  • $13 million in insurance on cold storage
  • Data servers are isolated and monitored 24/7
  • Employee screening and security training
  • Daily audit
  • See the rest on their security page

Account Security Features

  • 2 Factor Authentication
  • Whitelist addresses in your address book
  • View login history for suspicious activity (see IP addresses, recent logins, etc)
  • Force logout after 20 minutes of inactivty
  • Face ID / Touch ID / Pattern Login on mobile
  • See the rest on their security page

Online Reviews

I headed to Reddit, Trust Pilot and other online reviews to see what other people thought about NDAX. The main concerns are slow withdrawal times, blocking or holding crypto deposits, and slow customer service. Despite a few negative reviews, there was many positive reviews about the customer service as well and overall, NDAX is well-liked by the community.

  • A reddit user wrote, "They seem very safe and trusted by the community and do not have hidden fees. I don't understand why aren't yet the biggest exchange here in Canada."
  • Another wrote, "the spread is visible on buy/sell and they’re upfront about withdrawal. I never had trouble with the site, and their customer service is legit."
  • Someone on Google wrote, "I sent 5 emails to Ndax support for deposit issue, I got 5 responses all within the hour till my issue was fully resolved. I referred many people to Ndax in the past 3 years and I will keep doing so."
  • Another Reddit user wrote, "No issues with ndax, if I withdraw funds I receive within 2 days, easy to see your profit and loss you just need to know where to look. Only issue is they need to add more coins."
  • One user on Trust Pilot had to wait days to receive their crypto, "Blockchains send crypto instantly between wallets and all exchanges except NDAX plays games and holds all crypto deposits for hours and sometimes days before allowing you access to it. You get a code stating Anti Money Laundering Failed, they say its a general statement, but do nothing to assist you getting your crypto."
  • Another 1-star review had a similar story, "Highly disappointed at the blatant disregard of logic and the turnaround times. Beware, they WILL HOLD YOUR MONEY UNTL THEY SEE FIT. There is no logic to the holds and "compliance" and they offer no real solutions just delays and delays and you hoping to god after a week they haven't stolen your funds. There's more reliable exchanges."
  • "Depositing is a breeze they'll take that in a second, but the moment you try to withdraw they're going to charge you a ridiculous fee, lock your funds, and have not one support rep answer for about a week."

NDAX Alternatives

NDAX vs. Newton

Newton has 70+ coins, $5 off crypto withdrawals, and a total BTC/CAD purchase fee of 0.69%. On the other hand, NDAX has 30+ coins, pro trading, and a total purchase fee of 0.49%. Both are great choices for Canadians. NDAX is better for advanced trading and has slightly better purchase fees. Newton is better for altcoins and withdrawing crypto cheaply, but is still low-cost as well. See the full NDAX vs Newton review

NDAX vs. Coinbase

Overall, NDAX has 30+ coins, CAD trading pairs, and a total BTC/CAD purchase fee of 0.49%. On the other hand, Coinbase has 140+ coins, no CAD trading pairs, and a 4.54% total purchase fee. NDAX is significantly cheaper and a better fiat on/off ramp for CAD.

The Bottom Line

Overall, NDAX is less popular than apps like Shakepay and Coinbase, yet it's one of the cheapest places to buy Bitcoin in Canada. My tests showed that the all-in purchase fee to buy Bitcoin was 0.49%. This was first overall out of 18 platforms.

NDAX is a great platform for cheap Bitcoin and Ethereum purchases and it has free e-Transfers, 0.20% trading fees, and a simple user-interface. However, the downsides include low volume on certain altcoins, high crypto withdrawal fees, and a limited selection of assets.

Reasons To Use and Not Use NDAX:

  • Cheap Bitcoin and Ethereum purchases in Canada
  • Suitable for beginner and advanced traders
  • Good fiat on-ramp and off-ramp for CAD
  • Only 30+ coins supported (Try Newton for 70+ or MEXC for 1,500+)
  • High crypto withdrawal fees and usually slow transfers
  • Staking has a 20% fee (Try Kraken for zero-fee staking in Canada)

Get $10 Free when you deposit $100 or more 


Alex is the owner of RankFi.com, where he covers all things finance, Web3, and cryptocurrency. He has been investing in Bitcoin and cryptocurrencies since 2017.

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