The National Digital Asset Exchange (NDAX) is a top-rated cryptocurrency platform in Canada.
It offers trading in popular tokens such as Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin, and even stable coins like Tether.
When you open an account using a valid NDAX referral code link or referral code, you may get a $10 welcome bonus after depositing your first $100 or more.
How does the NDAX referral program work? Is NDAX safe? How does NDAX compare to Bitbuy?
We answer these questions and more in this review.
The NDAX referral code program is no longer active. You can sign up for Bitbuy instead and receive a $50 bonus when you deposit your first $250 or more. Learn more here.
How NDAX Works
NDAX is a Canadian crypto exchange based in Calgary. It offers a wide array of cryptocurrencies, including:
- Bitcoin (BTC)
- Ripple (XRP)
- Cardano (ADA)
- Ether (ETH)
- Dogecoin (DOGE)
- Litecoin (LTC)
- EOS
- Stellar (XLM)
- Chainlink (LINK)
- Polkadot (DOT)
- Tether (USDT)
- Aave (AAVE)
- Compound (COMP)
- Uniswap (UNI)
- Polygon
- The Graph (GRT)
- Shiba Inu (SHIB)
- Decentraland (MANA)
- Axie Infinity (AXS)
- Hedera (HBAR)
- Avalanche (AVAX)
- Algorand (ALGO)
- Solana (SOL) and several others
New customers who sign up can start trading digital currency within minutes using instant ID Verification.
NDAX is available on desktop and mobile devices, and it offers trading tools, order types, and charts for both beginners and professional traders.
You can learn more about how the platform works in this review.
NDAX Referral Code for 2024
NDAX has a referral program that rewards both new and existing customers.
Here’s how it works:
- When you sign up using a valid NDAX referral link (referral code is automatically applied) and deposit $100, you get a $10 cash bonus.
- From your dashboard, you can copy your custom referral link and share it with friends and family. When they sign up and deposit at least $100, they get $10.
You also earn a bonus based on how many people join NDAX through your link each month:
- 0-10 users monthly: $10 each
- 10-20 users monthly: $15 each
- 21+ users monthly: $25 each
This is in addition to a commission of up to 30% each time they take place a trade.
Affiliate earnings are paid in Canadian dollars and deposited in your account within 1-30 days.
Related: Best Crypto Wallets.
NDAX Fees
NDAX has one of the lowest trading fees charged by a cryptocurrency exchange in Canada. You pay a flat rate of 0.20% for buying or selling a cryptocurrency.
Fiat deposits are free, and you can fund your account using Interac e-Transfer, wire transfer, or bank draft.
Crypto deposits are also free and occur instantly.
Fiat withdrawals cost a flat $4.99 per transaction using direct bank or wire transfers.
Crypto coin withdrawal costs vary.
Is NDAX Legit?
NDAX is a legitimate company. It is registered as a Money Service Business (MSB) and is subject to the applicable regulatory framework of the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC).
Its FINTRAC registration number is M18632135. Its AMF permit number is 904486.
On the security side of things, NDAX indicates that it holds most digital assets in cold storage using Ledger Vault.
Overall, cryptocurrency trading is very risky, and you can lose all your money.
NDAX vs. Bitbuy vs. Wealthsimple Crypto vs. CoinSmart
Wealthsimple Crypto is a Canadian cryptocurrency trading platform offering 50+ coins, including BTC, XLM, BCH, ETH, EOS, XRP, AAVE, and LTC. To fund your Wealthsimple account, you can use a bank transfer or a debit card.
From a trading fees point of view, NDAX is cheaper than Wealthsimple Crypto.
Bitbuy is our top choice for the best crypto exchange in Canada. The company is also publicly traded.
Bitbuy Crypto Exchange
Get a $50 bonus if your initial deposit exceeds $250
Trade approx. 40 coins
Great for new & advanced traders
0% to 2% trading fee
Related: Best Bitcoin Apps in Canada.
| NDAX | Bitbuy | Wealthsimple Crypto | |
| Coins offered | 30+ types | 45+ types | 50+ types |
| Trading fees | 0.20% trading fee; $4.99 for fiat withdrawals | 0% to 2% trading fee | Up to 2% trading fee; free withdrawals and deposits |
| Funding options | Interac e-Transfer, wire transfer, bank draft, crypto | Interac e-Transfer, bank wire, crypto, credit card, debit card | Electronic Funds Transfer, debit card, crypto |
| Instant verification | Yes | Yes | Yes |
| Security | Cold storage, 2FA | Cold storage, 2FA | Cold storage, 2FA |
| Referral bonus | – | $50 when you deposit $250 | – |
| Learn more | – | Visit Bitbuy |
NDAX Referral Code FAQs
You can withdraw funds from your account using a wire transfer, bank draft, or cryptocurrency deposit. A $4.99 flat fee applies to fiat withdrawals, and crypto fees vary.
The founder of NDAX is Bilal Hamoud, and the company’s headquarters is at 250 2 Street Southwest Suite 1820, Calgary, AB T2P 2T4, Canada.
The best Canadian crypto exchange is CoinSmart, with its low trading fees and advanced trading tools. It also supports multiple fiat currencies.
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.
I used your ndax referral code and after depositing my first $100, when I did not receive the referral bonus, I created a ticket with ndax and they informed me that your referral link is very old and it is already expired.
I already loose my referral bonus and in another way you too. It would be nice if you can update your referral link so that other should not face the same problem.
Thanks
@Rajendra: Thanks for pointing this out. They did not inform us that their referral program was no longer active. I have updated the article.