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Last Updated Mar 15, 2024  |  Affiliate Disclosure

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  • NDAX is a fully regulated cryptocurrency exchange in Canada with some of the lowest fees on the market. You can sign up here to get $10 free when you deposit $100.
  • Key features include 37 cryptocurrencies, free e-transfer deposits, competitive fees, crypto staking, and an easy-to-use interface with beginner and advanced trading tools.
  • We like NDAX because after comparing 25+ Canadian exchanges, they were the cheapest place to purchase Bitcoin with Canadian dollars (even with their 0.20% trading fee).

What Is NDAX?

NDAX.io (National Digital Asset Exchange) is a Calgary-based cryptocurrency exchange founded in 2018. They offer 37 cryptocurrencies, beginner and advanced trading tools, free Interac e-Transfers, and a simple user-interface. 

One of its key selling points is their competitive 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

  • NDAX has a trading fee of 0.20%
  • Our tests showed it was the #1 cheapest place to buy Bitcoin in Canada
  • Sometimes small altcoins can be expensive due to low volume. Consider a dedicated exchange for altcoins if you want a wider selection and more volume
  • NDAX has been operating since 2018 and have never been hacked or lost users funds
  • Deposits are free however, withdrawals cost $1.50 for e-transfers and $4.99 for Bank Transfers
  • 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 UX: Users enjoy beginner and advanced trading features.
  • Great Fiat On/Off-Ramp: Easily deposit and withdraw Canadian dollars from your bank account.
  • Good Security: Fully compliant in Canada and never had any hacks or incidents.
  • 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 altcoins have low liquidity and therefore, can be expensive.
  • Cashing Out: $1.50 withdrawal fee for e-transfers and $4.99 for EFT withdrawals.
  • Slow Crypto Transfers: NDAX can 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".
  • Crypto Withdrawal Fees: Some coins are expensive to withdraw, make sure to check the fees first. Competitors like Newton, VirgoCX, Shakepay have free withdrawals on many coins.
  • Small Selection Of Assets: They are slow to add coins and only support 37 cryptocurrencies.

NDAX Key Features

NDAX Web App Dark Mode
  • Free e-Transfers: NDAX offers free Interac e-Transfer and bank transfer deposits, letting you quickly deposit funds from any Canadian banking institution. 
  • Competitive Fees: NDAX has a fixed trading fee of 0.20%, which is lower than most platforms who have zero trading fees but charge a hidden spread. We published a comparison tool and found that NDAX was the #1 cheapest place in Canada to buy Bitcoin. This is one the major reasons to consider NDAX.
  • Fully Regulated: NDAX is a secure and compliant Canadian crypto exchange. They are licensed in every province and territory and have been operating since 2018 without any hacks or loss of funds. More info on their security below.
  • 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. You can sign up here to get $10 free when you deposit $100 or more.
  • Trading for All Levels: NDAX has Quick Trades for beginners and a Pro Trading Terminal for advanced users. You'll find charting tools, live order books, and many advanced order types. Everything works on the mobile app as well if you like to trade on the go.

Other NDAX Features

  • Staking: NDAX supports staking for 9 crypto assets including Solana (5.5% APY), Celestia (11%), and Polkadot (up to 12%). Keep in mind, NDAX charges a 20% staking fee. Consider Kraken for zero-fee staking.
  • 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 Trading Fees

NDAX has a fixed trading fee of 0.20% and doesn't make money from the spread, unlike many other Canadian platforms. Overall, NDAX was the #1 cheapest platform to buy Bitcoin in Canada out of 20+ platforms we tried. We published the results in our comparison tool.

RankFi Price Test

Deposit & Withdrawals

On NDAX, customers can deposit Canadian dollars via Interac e-Transfer and Wire Transfer completely free. Withdrawals, however, will cost $1.50 for e-Transfers (max. $3,000) and $4.99 for Bank Transfers (no limit). 

As for crypto withdrawals, NDAX charges a flat fee (usually with a mark up), rather than dynamic fees based on the actual blockchain rate. For instance, BTC withdrawals cost a flat 0.000399 BTC ($37.56 currently) and ETH withdrawals cost 0.0099 ETH ($50.16 currently). They do, however, support multi-chain withdrawals which can dramatically reduce the costs.

Security: Is NDAX Safe? 

NDAX is a secure exchange. They have been operating since 2018 and have never been hacked or lost users funds. They also hold digital assets in cold storage, are regulated in Canada, and have strict security processes, according to their website.

Users can further secure their account with two-factor authentication and address whitelisting. All things considered, NDAX is safe and has no red flags. Here is a list of all the security features I could found:

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 (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

While NDAX is considered safe, you still shouldn't hold large balances on a centralized platform. The safest option is to self-custody your funds, ideally on a hardware wallet. Our hardware wallet comparison tool will help you research the best ones.

NDAX Walkthrough

Home Dashboard

NDAX Web App Home Page

On the home dashboard you overview your portfolio, 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 way for beginners to trade.

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. Advanced order types include:

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

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!"

Helpful Info:

NDAX Online Reviews

I headed to Reddit, Trust Pilot, and other online review sites to see what other people are saying about NDAX.

The main concerns are slow withdrawal times, blocking or holding crypto deposits, and slow customer service. However, despite a few negative reviews, the overall response was positive and 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."
  • 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."

Is NDAX Worth It For Canadians?

If you want to buy major cryptocurrencies with competitive fees, NDAX is one of the cheapest platforms in Canada. There is no hidden spread or minimum account balance, just a 0.20% trading fee. Plus, all $CAD deposits are free. To get started, click here to get $10 free when you deposit $100.

The drawbacks, however, are a limited selection of coins (37), fixed crypto withdrawal fees, and a 20% staking fee. Sometimes, there can be limited volume on certain altcoins, meaning higher prices. NDAX is great for trading top cryptos, but you'll want to consider a second exchange dedicated for altcoins.

  • Cheap Bitcoin and Ethereum purchases in Canada
  • Suitable for beginner and advanced traders
  • Good fiat on-ramp and off-ramp for CAD
  • Only 37 coins supported (Try Newton for 70+ or LBank for 400+)
  • High crypto withdrawal fees and slow transfers sometimes
  • Staking has a 20% fee (Try Kraken for zero-fee staking in Canada)

Get $10 Free when you deposit $100 or more 

NDAX Alternatives

Canada has a long list of crypto exchanges and we've reviewed them all. To see how NDAX compares, you can check out free comparison tool or our best crypto exchanges of the year. Here are some top picks:


Out of 20+ platforms we tried, NDAX had the #1 lowest fee to buy Bitcoin in Canada. It's our top pick for 2024.

  • Lowest fees to buy Bitcoin
  • Free e-transfer deposits
  • Based in Canada
  • Low volume on some coins
  • Only 37 coins

Kraken is fully regulated in Canada and offers 200+ cryptos, professional trading, and high liquidity. 

  • e-Transfers supported
  • Industry-leading security
  • Zero-fee staking
  • 0.16%/0.26% trading fees
  • Fiat withdrawal fees

If you want to trade altcoins, crypto futures and more without KYC, BYDFi is one of the top apps we found.

  • 450+ coins
  • No KYC, No VPN
  • Up to 200x Leverage
  • No $CAD supported
  • Beginner-friendly


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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