NDAX Crypto Exchange Review: Is It the Best Choice for Canadian Investors in 2025?

If you're a Canadian looking to buy crypto without jumping through hoops or risking your money on an unregulated platform, NDAX might be the most straightforward option you haven’t fully considered. It’s not the biggest exchange in the world, and it won’t let you trade 500 different coins or short Bitcoin with 50x leverage. But if you care about safety, clear rules, and trading in Canadian dollars without hidden fees, NDAX delivers - and it’s built specifically for people like you.

What Is NDAX, Really?

NDAX stands for National Digital Asset Exchange. It launched in 2018 as a Canadian-only crypto exchange, and it hasn’t tried to be anything else. While Binance and Coinbase chase global users, NDAX stays focused on serving residents of Canada. That means no U.S. users, no European accounts, no offshore sign-ups. You need a Canadian address, a valid Canadian ID, and a Canadian bank account to get started.

It’s not just a technical restriction - it’s a business model. NDAX is registered with FINTRAC and regulated under CIRO, which is Canada’s new financial regulator for crypto and investment dealers. That means they’re audited, monitored, and held to the same standards as banks. They’re also the official Crypto Trading Partner of the NHL, which might sound like a marketing gimmick, but it signals real institutional trust.

How Secure Is NDAX?

Security isn’t something you compromise on in crypto. NDAX takes it seriously. Over 95% of user funds are stored in cold wallets - offline, encrypted, and physically protected. The platform has SOC 2 Type II certification, which is a gold standard for data security in fintech. They also carry $5 million in insurance for cold storage and $3 million for hot wallets. That’s more than most Canadian banks offer for digital assets.

Two-factor authentication (2FA) is required, and all withdrawals need multi-signature approval. That means no single employee can move your money without multiple people signing off. You can’t just click “withdraw” and have it sent out instantly - there are checks. That slows things down a little, but it stops hackers and internal fraud.

Accounts are held in segregated accounts, meaning your crypto isn’t mixed with the company’s money. If NDAX ever went under (a big if, given their compliance record), your assets are legally protected.

Trading Fees and Costs

NDAX has one of the simplest fee structures in Canada: a flat 0.2% on every trade. No tiered pricing. No volume discounts. No maker-taker model. You pay 0.2% whether you trade $100 or $100,000.

That’s higher than Binance or Kraken, which charge as low as 0.1% or even 0% for high-volume traders. But here’s the catch: NDAX doesn’t charge any deposit fees. You can send CAD via Interac e-Transfer or wire transfer - and it’s free. No hidden charges. No “processing fee” tacked on at the end.

Withdrawals are where it gets sticky. Interac e-Transfer withdrawals are free if you’re under $10,000. Above that, you pay $25. Wire transfers and bank drafts also cost $25. That’s steep if you’re moving large sums frequently. But compared to other Canadian exchanges that charge $10-$15 per withdrawal on top of bank fees, NDAX’s pricing is still reasonable.

Cryptocurrencies Available

NDAX doesn’t list every coin that ever had a whitepaper. It’s selective. As of late 2025, you can trade around 30 cryptocurrencies - all paired directly with CAD. That includes Bitcoin, Ethereum, Solana, Cardano, Polkadot, and newer names like Sui, Sei, and Injective.

Why does this matter? Because most global exchanges list hundreds of low-quality tokens. NDAX avoids that. They focus on assets with real use cases, strong teams, and regulatory clarity. If you’re tired of chasing meme coins that vanish in a week, this is a relief.

But if you’re hunting for tiny altcoins like Pepe, Bonk, or obscure DeFi tokens, you won’t find them here. NDAX isn’t for gamblers. It’s for investors who want to own solid crypto without the noise.

Staking and Earning Rewards

NDAX lets you stake Ethereum, Cardano, Polkadot, and a few others directly on the platform. You don’t need a separate wallet or DeFi app. Just click “stake,” lock your coins, and start earning.

Here’s the downside: NDAX takes a 20% cut of your staking rewards. So if Ethereum staking yields 4% APY, you’ll get 3.2% after their fee. That’s lower than what you’d get on Lido or Rocket Pool, where fees are closer to 10% or less.

But for beginners, the convenience wins. You don’t have to learn how to connect a wallet, manage gas fees, or risk smart contract exploits. Your staking happens inside your NDAX account - simple, secure, and safe.

User Experience and Interface

The NDAX website is clean, fast, and easy to navigate. Charts are powered by TradingView - the same tool professional traders use. You can add indicators, draw trend lines, set alerts, and analyze price action without switching platforms.

The mobile app is still in beta, but it’s already one of the better ones in the Canadian market. It’s smooth, visually pleasing, and lets you buy, sell, and check your portfolio on the go. Users report minor bugs - like occasional login issues or delayed order updates - but nothing critical.

Customer support is available Monday to Friday, 10 a.m. to midnight EST, via live chat, email, or ticket system. Many users praise Nathan, a support rep known for walking new users through trades step-by-step. But there are also complaints. Some users report accounts being frozen after large deposits, with no clear explanation or quick resolution. One user said a $21,500 CAD wire transfer triggered a 10-day hold with no feedback. That’s the trade-off: strict compliance can feel like overreach.

Who Is NDAX For?

NDAX is perfect for Canadian residents who want to:

• Trade crypto in Canadian dollars without currency conversion fees
• Use a regulated, secure platform backed by Canadian law
• Avoid the chaos of hundreds of low-quality tokens
• Stake crypto without managing external wallets
• Get help from real people when they’re stuck

It’s not for you if you:

• Want to trade futures, leverage, or margin
• Need access to hundreds of obscure altcoins
• Plan to move large sums daily and hate $25 withdrawal fees
• Expect 24/7 customer service or instant account unlocks

How Does NDAX Compare to Other Canadian Exchanges?

Let’s break it down against two competitors: Wealthsimple Crypto and Coinsquare.

NDAX beats Wealthsimple on coin selection and staking. It beats Coinsquare on security and transparency. But Coinsquare gives you margin trading - something NDAX doesn’t offer. If you’re a beginner or conservative investor, NDAX wins. If you’re active and want to trade derivatives, Coinsquare is better.

Getting Started on NDAX

Signing up takes less than 10 minutes if you have your Canadian ID ready. Here’s how:

1. Go to ndax.io and click “Sign Up”
2. Enter your email, password, and Canadian phone number
3. Upload a photo of your driver’s license or passport
4. Take a selfie for facial verification
5. Wait for instant approval (usually under 5 minutes)
6. Deposit CAD via Interac e-Transfer - no fees
7. Start trading

New users get a $10 bonus after their first deposit if they use a referral link. Not a huge incentive, but it’s nice.

Final Verdict: Should You Use NDAX?

NDAX isn’t perfect. It’s slow to add new coins. It charges withdrawal fees. It doesn’t offer advanced tools. But it’s the most trustworthy crypto exchange in Canada right now.

If you’re a Canadian who wants to buy Bitcoin, Ethereum, or Cardano without worrying about scams, frozen funds, or regulatory crackdowns - NDAX is your safest bet. You won’t get the highest returns or the most features, but you’ll sleep better at night.

For experienced traders who need leverage, hundreds of tokens, or 24/7 support, look elsewhere. But for the average Canadian investor? NDAX is the quiet, reliable choice that actually does what it says.