NDAX Review: Pros, Cons, Fees, Supported Coins & Referral Plan

Last Updated on 8 months by Anoob P T

This post is about NDAX review and we look NDAX pros, cons, fees, supported coins and NDAX referral plan.

National Digital Asset Exchange (NDAX) is an online crypto-trading platform that has very low fees and has many beginner-friendly features.

I have also written a detailed post on How to Buy DogeCoin in Canada and How to Sell BitCoin in Canada–you can read it if you are interested.

If you are interested in buying DogeCoin, then you need to go through NDAX or buy any other BitCoin and trade it for DogeCoin.

NDAX Review: Pros, Cons, Fees, Supported Coins & Referral Plan

What is NDAX?

National Digital Asset Exchange (NDAX) is an online crypto-trading platform.

NDAX is based in Calgary, Alberta and was founded in 2017 by Bilal Hammound.

The platform went live in 2018 and initally offered only four coins: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

In 2019, NDAX listed Cardano and partnered with Ledger, BitGo and CLiC Lifestyles.

Presently, NDAX support many types of popular cryptocurrencies including Bitcoin, Dogecoin, Ether etc and low trading fees on its platform.

Additionally, the platform also provides users with NDAX Wealth which is an Over-The-Counter trading service giving access to a deep liquidity pool.

Official website of NDAX: https://ndax.io/

How NDAX Works?

Getting started on NDAX is very easy.

To use the platform, you to create an account and sign up using the official link here.

You will need to enter basic details like name, username, email address, password and agree to the terms and conditions and private policies of the platform.

A confirmation mail is sent by NDAX and you can use it to activate the account.

Additional details like verification of identity and phone number are required by the platform.

A valid government ID like passport, driver’s license or ID card can be used for verification.

NDAX also provides a feature called as Instant ID verification which helps the user to start trading just after creating an account.

You should also note that NDAX provides a $10 signing bonus to new accounts.

You can use the account for Interac e-Transfer, bank wire, bank draft and for depositing cryptocurrency.

After you build a portfolio on the trading platform, then NDAX will start giving access to digital assets, plus reports your trading activities and portfolio growth on a daily, monthly or yearly basis. 

To know more about how to get started on NDAX, you can visit this official link.

NDAX Features 

NDAX is a versatile platform which is ideal for beginners and experienced traders.

NDAX offers access to 16 coins including world’s most popular cryptocurrencies including Bitcoin, Ether etc.

There are many features that make NDAX ideal to get started with cryptocurrencies.

Some of the features of NDAX include free deposits, competitive fees for trading and withdrawals and register as a Money Service Business.

Other features of NDAX include email, chat and phone support.

NDAX Requirements 

NDAX has minimal requirements to get started that makes it great for new crypto traders.

To begin, all you need to to have a computer with a good internet connection.

Additionally, for signing up you need to fill out first name, last name, username, a valid email address, password, should agree on the terms and conditions of NDAX and be 18 years or older.

Cryptocurrencies Supported by NDAX 

NDAX supports all popular cryptocurrencies that are currently in demand. You should also note NDAX supports Dogecoin which is gaining in popularity right now.

Some of the Cryptocurrencies Supported by NDAX include:

• Bitcoin (BTC)
• Dogecoin (DOGE)
• Ether (ETH)
• Cardano (ADA)
• XRP (XRP)
• Tether ( (USDT)
• Polkadot (DOT)
• Litecoin (LTC)
• Chainlink (LINK)
• Stellar (XLM)
• EOS (EOS)
• Uniswap (UNI)
• Compound (COMP)
• Aave (AAVE)
• The Graph (GRT)
• Polygon (MATIC)

NDAX Fees & Processing Time

NDAX has a low trading and commission fees amongst similar cryptocurrency trading platforms.

The platform provides fast processing time for deposits and withdrawals. As of October 2021, the trading fee for buying and selling is fixed at a rate of 0.2%.

For Interac e-Transfer, the fee is $0 and the processing time is 0-30 minutes. There is no limit on minimum and maximum deposits and withdrawal are not applicable.

In Wire Transfer, the deposit fee is free while the withdrawal fee is $25 and the processing time is 0-1 business day. There is no limit on minimum and maximum deposits and withdrawals.

In Bank draft, the deposit fee is free while the withdrawal fee is $25 and the processing time is 0-1 business day. There is no limit on minimum and maximum deposits and withdrawals.

NDAX Withdrawal Fees

As with other cryptocurrency trading platforms, there is a withdrawal fees also applicable for NDAX.

As of October 2021, these are the NDAX withdrawal fees.

• Bitcoin: 0.000399 BTC
• Litecoin: 0.0499 LTC
• Ether: 0.0099 ETH
• XRP: 3 XRP
• EOS: 1 EOS
• Stellar: 8 XLM
• Dogecoin: 10 DOGE
• Cardano: 3 ADA
• Chainlink: 0.35 LINK
• Tether: 3.5 USDT
• Polkadot: 0.3 DOT
• Tether: 16 USDT
• Uniswap: 0.3 UNI
• Compound: 0.015 COMP
• Aave: 0.025 AAVE

To know more about NDAX fees, you can visit this official link.

NDAX Pros

In this section, we are going to look at some of the pros of using NDAX for buying and trading cryptocurrencies.

Some of the pros of NDAX include:

• Low trading and commission rates at 0.2%.
• Deposit fee is free.
• Easy sign up and instant verification for new users.
• Fast processing time which helps in quick deposits and withdrawals.
• Extensive variety of coins available to choose from.
• The platform provides 24/7 customer support.
• Advanced trade orders can be easily executed on NDAX with features such as stop orders, trailing stop orders, stop-limit orders etc.
• The NDAX referraal program helps traders to drive the platform’s adoption rate.
• Registered with Financial Transactions and Reports and Analysis Centre of Canada.

NDAX Cons 

NDAX also has some cons which you should be aware of.

• The platform is only available to Canadians.
• NDAX only accepts Canadiaan Dollar (CAD) for fiat.
• Some users have reported that NDAX withholds assets before users could withdraw

NDAX Referral 

NDAX Referral Program pays up to $25 per referral. The program offers three tiers: Avid, Ambassador and Partener.

The tiers and earnings depend upon how many new users you can bring to NDAX platform in a month.

In Avid, there are 0-10 users and the user and the referral get $10.

In Ambassador, there are 10-20 users and the user gets $15 while the referral gets $10.

In Partner, there are 20+users and the user gets $25 while the referral gets $10.

To know more about NDAX referral program, you can check this official link.

NDAX Reviews

In this section, we are going to look at NDAX reviews which are available on the web.

Overall reviews suggests that NDAX is a dependable cryptocurrency platform.

The customer service seems fast, reliable and is available whenever needed. The deposit and withdrawal fee are affordable making it accessible even for new traders.

Most users have reported that NDAX cryptocurrency exchange platform is user-friendly and the design helps traders make advanced level orders.

The most reported con is that it is available only in Canada, but generally, the pros weigh out the cons to a great extent.

Features like zero fee deposits and low trading fee stand out and encourage people to use cryptocurrency.

In this section, we will also show you one positive and one negative review of NDAX so you get a general idea about the platform.

NDAX Positive Review

You can read more NDAX reviews here.

NDAX Negative Review

You can read more NDAX reviews here.

NDAX Customer Contact Information

NDAX is known to provide excellent customer support and if you need any clarifications regarding your account, you can always get in touch with NDAX customer support team via these official channels.

NDAX Phone Number: 1-833-727-NDAX (6329)

NDAX Address: 250 2 Street Southwest Suite 1820, Calgary, AB T2P 0C1

NDAX Email: support@ndax.io

NDAX Live Chat: Live Chat 

NDAX Social Media Handles

NDAX is also active on most social media channels. If you want to follow NDAX on social media or get in touch with someone at NDAX through social media, you can use these official handles.

NDAX_Facebook

NDAX_Twitter

NDAX_LinkedIn

NDAX_Reddit

Is NDAX Safe?

NDAX is registered with Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC) as a money service business which makes the platform totally legit.

Unlike other crypto trading platforms that are vulnerable to online hacking attacks, majority of digital assets are offline in a cold storage and fiat at a Canadian financial institution.

NDAX also offers 2-factor authentication and DDoS mitigation which keeps your investment secure. However, no platform is 100% secure but NDAX does take all the necessary industry-standard precautions to protect users information and investments.

Frequently Asked Questions about NDAX

Is NDAX IO safe?

Yes, NDAX is registered with Financial Transactions and Reports and Analysis Centre of Canada and majority of all assets of NDAX are offline in cold storage so NDAX IO is safe.

Is NDAX a crypto wallet?

Yes, NDAX is a crypto wallet and a crypto currency exchange.

How do I withdraw money from NDAX?

After logging into NDAX account, on top right, you can click on “Withdraw” to withdraw your funds. You can use EFT (Direct bank deposit) to withdraw your funds.

Does NDAX have Dogecoin?

Yes, NDAX supports Dogecoin.

How much can you withdraw from NDAX?

0 BTC for new and unverified accounts, 2 BTC per day for basic accounts, 10 BTC per day and $500,000 per month for enhanced accounts.

Who owns NDAX io?

Bilal Hammoud is the founder of NDAX.io

How do I buy NDAX crypto?

You need to sign up your account, complete profile details, add funds and then you can buy cryptocurrencies using NDAX.

How long do NDAX withdrawals take?

One business day.

How does NDAX make money?

NDAX charges a 0.2% trading fee and also NDAX provides an affiliate fee of 10% for all referrals.

Is NDAX a good wallet?

Yes, NDAX is a good wallet that is easy to use and NDAX is registered with Financial Transactions and Reports and Analysis Centre of Canada and majority of all assets of NDAX are offline in cold storage so NDAX IO is safe.

What does NDAX stand for?

NDAX stands for National Digital Asset Exchange.

Is NDAX regulated?

Yes, NDAX is regulated and registered in the province of Alberta as a Money Service Business (MSB). NDAX is subject to Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and applicable regulatory framework of the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC).

Is NDAX good for beginners?

Yes, NDAX is a beginner friendly platform and easy to get started.

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