Is NDAX a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether NDAX is a good crypto exchange to start trading with. In this article you will learn whether NDAX is good for beginners, what its pros and cons are and what a novice trader needs to know.
NDAX's Top Features for Beginners
NDAX’s beginner-friendly features, such as a demo account, low minimum deposit, educational materials, copy trading, staking, a user-friendly mobile app, customer support, fiat deposit and withdrawal options, and low fees, were compared against the top two competitors to ensure a comprehensive evaluation.
| NDAX | OKX | Kraken | |
|---|---|---|---|
| Demo account |
No |
Yes |
No |
| Minimum deposit, USD or USDT | 100 | 10 | 10 |
| P2P exchange |
Yes |
Yes |
No |
| Spot maker fee | 0,2 | 0,08 | 0,25 |
| Fiat transactions |
Yes |
Yes |
Yes |
| Bank cards |
No |
Yes |
Yes |
| Commissions and fees | 5.45 | 9.25 | 6.2 |
| Educational tools |
Yes |
Yes |
Yes |
| Crypto bonuses |
Yes |
Yes |
Yes |
| Staking |
Yes |
Yes |
Yes |
| Copy trading |
No |
Yes |
Yes |
|
|
|
Why We Focused on Comparing These Beginner-Friendly Features:
Demo account – Allows beginners to practice trading without risking real funds, helping them gain confidence and understand the platform.
Minimum deposit, USD or USDT – Ensures low entry barriers, making it affordable for newcomers to start trading with a small initial investment.
P2P exchange – Enables direct cryptocurrency trading between users, often with no intermediaries, providing a straightforward and accessible way to trade.
Spot maker fee – Highlights competitive trading fees for placing limit orders, which is cost-effective for those starting with spot trading.
Fiat transactions – Simplifies the process of depositing and withdrawing funds using local currencies, making it convenient for first-time users.
Bank cards – Provides an easy and familiar way for beginners to fund their accounts quickly using Visa or Mastercard.
Commissions and fees – Transparent and competitive fee structures help beginners calculate costs and avoid unexpected charges.
Educational tools – Tutorials, webinars, and guides equip beginners with the knowledge needed to trade confidently and effectively.
Crypto bonuses – Offers incentives like signup rewards or deposit bonuses, encouraging newcomers to explore trading.
Staking – Allows beginners to earn passive income on their holdings, introducing them to advanced cryptocurrency features with minimal effort.
Copy trading – Lets new traders learn by replicating the strategies of experienced traders, reducing the learning curve.
Short summary about the broker NDAX
The Canadian NDAX exchange is a cross-functional trading platform for cryptocurrency and coins. You can find here pairs with Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Ripple, Cardano, and other assets. Only the Canadian dollar represents fiats. The website has a standard trading terminal, an API, an OTC trading service, and a three-level referral program. Moreover, trading fees are fixed at 0.2% and don’t depend on trading volumes. There are no demo accounts and no minimum deposit. The exchange is positioned as one of the most stable and fastest in the region. Transactions are quick, and all transfers with the participation of cryptocurrencies are carried out instantly, while transfers with the Canadian dollar take no more than 1 business day for deposits and withdrawals. The website is officially registered, and its license is valid.
| 💰 Account currency: | Cryptocurrencies, CAD |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, CAD |
| 💹 Margin Call / Stop Out: | No |
NDAX Pros and Cons
👍 Advantages of trading with NDAX:
•variety of cryptocurrency-to-cryptocurrency pairs;
•the Canadian dollar is traded with almost all cryptocurrencies and coins;
•high transaction speeds for trades, deposits, and withdrawals;
•high level of platform security provided by multi-level encryption;
•fixed trading commissions of 0.2% don’t depend on the trading volume and other factors;
•there are no deposit fees; withdrawal fees are low and fixed and don’t depend on the withdrawal amount;
•integrated OTC trading service and institutional account solutions;
•instant crypto function for the free transfer of cryptocurrencies, coins, and fiats between exchange clients.
👎 Disadvantages of NDAX:
•no investment solutions;
•there are no solutions for novice traders (for example, demo accounts).
Trading Conditions for NDAX Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. NDAX offers traders the following conditions.
| Minimum deposit, USD or USDT | 100 |
| Futures leverage | Not allowed |
| Spot leverage | Yes |
| Coins Supported | 30 |
| Affiliate program | Yes |
| Replenishment / Withdrawal | Bank cards and accounts, electronic and cryptocurrency wallets |
| Trading features | Variety of cryptocurrencies and coins, only the Canadian dollar as fiat, a three-level referral program with payments to both parties, no investment programs, trading commissions do not depend on the trading volume |
NDAX's Fees
We compared XXX's fees with the top two competitors to provide a clear understanding of how affordable the exchange is for its users.
| NDAX | OKX | Kraken | |
|---|---|---|---|
| Spot Taker fee, % | 0,2 | 0,1 | 0,4 |
| Spot Maker fee, % | 0,2 | 0,08 | 0,25 |
| Futures Taker fee, % | No |
0,05 | 0,05 |
| Futures Maker fee, % | No |
0,02 | 0,02 |
| Withdrawal fee | 0,000149 BTC 25 CAD - Fiat | 0,0004 BTC 2,6 USDT | 0,0005 BTC |
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of NDAX commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The trading commission is standard for all activities. It is always 0.2% for a taker and a maker, regardless of the pairs traded, trading volumes, etc. The only thing that can affect the size of the commission is getting bonuses from the Traders Union. The "Commissions" section of the website provides an online calculator for calculating a trading commission based on the volume of a transaction.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.2% per transaction | Yes |
Investment programs of NDAX
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. NDAX offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The cryptocurrency exchange doesn’t offer investment solutions to its clients. Website users make money by actively trading cryptocurrencies, coins, and fiat money. Of the passive profit opportunities, there is only the Bug Bounty program in addition to the referral program. The site is ready to pay users who have discovered vulnerabilities or errors. The minimum payout is $20, the total amount depends on how critical is the problem.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
NDAX’s affiliate programs
The exchange offers a three-level referral program. Register and verify to take part in it. You do not have to trade to become a member of the program.
Find an affiliate link in your personal account. You can post it on any other site and distribute it in a user-friendly way. A trader who follows the link to the exchange, registers, and starts trading, becomes your referral (partner). A referral brings passive income to you, depending on the total number of relevant referrals from the link:
up to 10 referrals – $10 for each referral and 10% of his commissions;
up to 20 referrals – $15 for each referral and 10% of his commissions;
over 20 referrals – $25 for each referral and 10% of his commissions.
Each referral, regardless of the level of the link owner, is provided $10 after registration and verification. These payments are made within 30 days from the date of the target action.
All statistics are displayed in your personal account. There are two restrictions on earnings from each referral:
no more than $1,000 in total;
1 year after registration; the user loses the referral status and no longer brings income to the exchange client who invited him.
Conclusion. Is NDAX good for beginners?
The NDAX cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, NDAX could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.