5 Best NDAX Alternatives in 2022: Compare Crypto Exchanges in Canada

NDAX is one of the top cryptocurrency exchanges in Canada. It has low trading fees and supports more than 30 cryptocurrency assets.

If you are looking to trade altcoins that are not offered by NDAX or want access to multiple fiats, you can use a site like NDAX that meets these benchmarks.

Read on to learn about the best NDAX alternatives in Canada, their top features, fees, pros, and cons.

Best NDAX Alternatives in Canada

Below are the top NDAX alternatives in Canada for 2022.

1. CoinSmart

CoinSmart is a Toronto-based crypto exchange that was established in 2018.

This platform serves as both an NDAX alternative and a Binance alternative if you are one of those affected by the restrictions facing Binance users who are Ontario residents.

CoinSmart supports several coins and fiat currencies, and it is also available in many European countries.

The trading fee is 0.20%. New clients get a $50 bonus after depositing $200.

CoinSmart Crypto Exchange

coinsmart logo

Top crypto exchange in Canada

Great for new & advanced traders

0.20% trading fee

Get a $50 bonus when you deposit $200

2. Wealthsimple Crypto

Wealthsimple Crypto is one of the best crypto trading apps for beginners.

This platform supports 50+ coins and keeps your assets in cold storage with Gemini Trust Company LLC, a crypto custodian that is regulated in the U.S.

It is available on all devices including iOS and Android mobile apps.

The trading fees on Wealthsimple Crypto are up to 2%. Deposits and withdrawals of fiat are free.

New clients get a cash bonus here.

3. Shakepay

Shakepay only offers bitcoin and ethereum and is not as versatile as NDAX. It was founded in 2015 and is one of the oldest crypto platforms in Canada.

The company recently raised $44 million in Series A funding from investors as it plans to expand its operations.

Unlike NDAX, Shakepay has its own crypto prepaid card that offers bitcoin rewards.

The trading fee on Shakepay is included in the price and is up to 3%. Fiat deposits and withdrawals are free.

New customers get a $30 bonus here when they trade $100 worth of BTC and/or ETH.

4. Newton

Newton is an NDAX alternative that offers more coins.

This trading platform supports coins you can hardly find elsewhere including the likes of Celo, Storj, Ankr, Loopring, Chiliz, UMA, and dYdX.

Trading fees on Newton are up to 1%; however, fiat deposits and withdrawals are free.

New clients get a $25 bonus after trading $100 or more in crypto.

Learn more in this Newton vs. NDAX review.

5. Bitbuy

Bitbuy is a top NDAX alternative. This full-fledged crypto exchange supports 20+ coins and it is registered to operate in all Canadian provinces and territories.

It offers an express service for beginners, Bitbuy Pro for experienced traders, and an OTC desk for crypto traders who are looking to execute large trades.

The trading fee on Bitbuy is up to 0.20%. Fiat deposits and withdrawals cost up to 1.50%.

New Bitbuy clients get a $40 bonus when they deposit an initial $250 into their account. You can also use the promo code 1POKVVATX.

Learn more in this review.

What To Look For in an NDAX Alternative

When choosing a trading platform to buy and sell crypto in Canada, you should consider:

  • Trading fees
  • Coins supported
  • Trading tools and interface
  • Security
  • Mobile apps
  • User ratings
  • Reputation

Pros of NDAX

The benefits of the NDAX crypto exchange are:

  • Crypto exchange with 30+ coins
  • $10 welcome bonus when you deposit $100
  • Offers staking
  • Has an OTC desk for large trades
  • Low trading fees

Cons of NDAX

The downsides of NDAX are:

  • Only Canadian dollar fiat is supported
  • Fiat withdrawals are not free

NDAX Alternatives: Conclusion

NDAX is an excellent crypto exchange for cryptocurrency investors in Canada. For an alternative, my top choice is CoinSmart.

Other sites like Bitbuy that are worth checking out include:

Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.

Best Crypto Offer This Month

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Access to several popular coins.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Easily deposit and withdraw both fiat and crypto.

A publicly traded company on the Canadian NEO exchange.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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