NDAX Crypto Exchange Review: Fees, Coin List, and Trading Features
With NDAX.io being the Official Crypto Trading Platform of the NHL, what do they offer in terms of fees, coin list, staking and trading features?
Disclaimer: This content is not financial advice and is for entertainment purposes only. Investing in cryptocurrencies carries significant risk. Serenomoney.com may earn a commission if you use our affiliate links to sign up for services.
What is NDAX? An Overview
NDAX, which stands for National Digital Asset Exchange, is a cryptocurrency exchange based in Calgary, Canada. Founded in 2017, they’ve been operating for about eight years now. One of the appealing aspects of NDAX is that it’s a purely Canadian company. This can simplify things for Canadian users, as dealing with global exchanges can sometimes involve currency conversions, extra fees and questionable business practices.
Try out NDAX.io and earn $10 after depositing your first $100 using this link!
Regulation and Security: Peace of Mind
A significant factor when choosing an exchange is its regulatory standing and security measures. NDAX is a registered investment dealer and a member of the Canadian Investor Protection Fund (CIPF). While CIPF protection typically covers up to $1 million per account type for traditional fiat currencies in case of insolvency, it’s important to understand that this doesn’t apply to cryptocurrency holdings. However, the registration itself does offer a degree of peace of mind.
From a user security perspective, my experience was positive. After my first withdrawal, I was required to confirm the transaction via both email and Google Two-Factor Authentication (2FA). This default security setting is a welcome feature, helping to prevent unauthorized access or mistaken withdrawals.
Understanding the Fee Structure
Fees are a critical consideration for any crypto trader or investor. Let’s break down what NDAX charges:
- Trading Fees: NDAX charges a flat 0.2% fee for each order. This is quite competitive, especially when compared to other popular platforms, which can charge up to 2%.
- Deposit Fees: For Canadian users, depositing funds via Interac e-Transfer is free. My own e-Transfer deposit was processed quickly without any issues.
- Withdrawal Fees:
- E-Transfer: Withdrawing Canadian dollars via e-Transfer incurs a $1.50 fee.
- Electronic Fund Transfers (EFT)/Wire Transfers: These withdrawals cost $5.
- Crypto Withdrawals: These fees vary depending on the network and coin. For example, when I withdrew Solana (SOL), the fee was 0.01 SOL, which was about $2.40 CAD at the time.
- Bitcoin Withdrawals: NDAX offers free Bitcoin withdrawals through their “Flex Withdrawals” service, which are processed within 12 hours. If you need your Bitcoin faster, an express option is available for a fee.
- Spreads: Another cost to be mindful of is the spread – the difference between the buy and sell price. On NDAX, the spread for Bitcoin was observed to be around 0.4%, which is relatively high. This means if you’re placing a market order, your effective fee could be closer to 0.6% (0.2% trading fee + 0.4% spread). A wider spread can also make it harder for limit orders to get filled. For comparison, platforms like Coinbase Advanced and Kraken Pro tend to have significantly tighter spreads. (<0.01%)
User Interface and Experience
NDAX scores well in terms of its user interface.
- Desktop: The platform offers a clean, modern dashboard, with a sleek dark theme. Key information like portfolio value, quick buy/sell options, and access to advanced trading are readily visible. Scrolling down reveals transaction history, portfolio distribution, recent activity, and crypto addresses. The advanced trading view includes an order book and various order types (e.g., stop limit, fill or kill, IOC). There’s also a news tab and sections for recent trades and order history.
- Mobile App: The mobile app mirrors the clean layout of the desktop version. It provides a market overview of available coins, candlestick charts, the ability to set alerts, and place trades with advanced order types. You can also view your wallet performance with PNL graphs over different time frames. A central button provides quick access to key functions like depositing, withdrawing, buying, selling, and swapping crypto. There is also a staking tab that provides a simple overview of the interest you’re earning on your coins.
Staking on NDAX
For those interested in earning interest on their crypto holdings, NDAX offers staking. The staking dashboard is straightforward, and they provide a list of available coins for staking. Staking on a regulated platform can offer an added sense of security when your funds are locked up.
As of May 2025*, NDAX offers the following coins and APY’s for staking: Ether $ETH (Up to 3.3%), Solana $SOL (Up to 5.5%), Polygon $MATIC (Up to 4%), Polkadot $DOT (Up to 10.5%), SEI $SEI (Up to 3.5%), Celestia $TIA (Up to 8%), Injective $INJ (Up to 11%), SUI $SUI (Up to 3%), Cosmos $ATOM (Up to 13%), Sonic $S (Up to 3.8%), Near $NEAR (Up to 7%), Cardano $ADA (Up to 2.8%), and The Graph $GRT (Up to 5%).
*Coins available for staking are subject to change so always double check your live account for the most recent list.
Coin Selection
NDAX offers a decent selection of cryptocurrencies, including major names like Bitcoin and Ethereum, as well as various altcoins, stablecoins, and even some meme coins. It’s important to note that all trading pairs are with the Canadian dollar (CAD); you cannot trade against other fiat currencies or cryptocurrencies directly. While the selection is good for a Canadian exchange, it may not be as extensive as some larger international platforms.
As of May 2025*, NDAX offers the following coins: Bitcoin $BTC, Ether $ETH, Solana $SOL, XRP $XRP, Litecoin $LTC, EOS $EOS, Stellar $XLM, DOGECOIN $DOGE, Cardano $ADA, Chainlink $LINK, Polkadot $DOT, Uniswap $UNI, The Graph $GRT, Compound $COMP, Aave $AAVE, POLYGON $MATIC, USDC $USDC, Shiba Inu $SHIB, Hedera $HBAR, Axie Infinity $AXS, Decentraland $MANA, Avalanche $AVAX, Algorand $ALGO, The Sandbox $SAND, Celo $CELO, Near $NEAR, Alien Worlds $TLM, VeChain $VET, Gala $GALA, Arbitrum $ARB, Cosmos $ATOM, Optimism $OP, Quant $QNT, PEPE $PEPE, Celestia $TIA, Injective $INJ, RENDER $RNDR, Sei $SEI, SUI $SUI, Fetch $FET*, Pyth Network $PYTH, Jasmy $JASMY, Sonic $S, BERA $BERA, ONDO $ONDO, Bittensor $TAO, and Aptos $APT.
*Coins available for trading are subject to change so always double check your live account for the most recent list.
The Sign-Up and Onboarding Experience
My experience getting started with NDAX was remarkably smooth. The sign-up process, which involved providing standard information expected for a registered platform, took only a few minutes. My ID (driver’s license) was verified within a minute or two. My Interac e-Transfer deposit arrived within a few minutes as well. I was able to purchase Solana almost instantly and then proceed to withdraw it. The withdrawal, after the two-factor authentication, was processed in approximately 3 to 5 minutes. Overall, from registration to withdrawing a coin, the process was quick and hiccup-free.
Don’t forget to use serenomoney.com/NDAX when signing up to claim your $10 bonus after your first deposit!
Who is NDAX Best For?
Based on my experience, NDAX seems best suited for:
- The average, casual Canadian crypto investor.
- Individuals looking to dollar-cost average into cryptocurrencies.
- Users who prioritize a simple-to-use platform with relatively low trading fees compared to some other Canadian options.
However, for more active traders who execute a high volume of orders, the spreads and overall transaction costs might add up. In such cases, exploring platforms with tighter spreads and potentially lower overall fees could be beneficial.
Final Thoughts
Overall, NDAX provides a smooth and user-friendly experience, especially for Canadians. Being a regulated, Canadian-native platform simplifies many aspects of crypto trading for local users. The coin selection is adequate, though not as vast as some international exchanges. The fees are competitive, particularly the 0.2% trading fee, although the spreads on market orders are worth keeping in mind.
Ready to try NDAX? Sign up using serenomoney.com/NDAX and get a $10 bonus after your first deposit!
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. Investing in cryptocurrencies involves significant risk, and you could lose money. Always do your own research and consult with a qualified financial advisor before making any investment decisions. Serenomoney.com may get compensated for sign-ups from affiliate links embedded in this article.