Bitbuy vs NDAX

Bitbuy vs NDAX

Daniel Chan

November 17, 2021

Cryptocurrency

Bitbuy and NDAX are two of the best crypto exchanges for Canadians so which one should you use, and how do you decide? I have written this article to compare the different aspects of both platforms, and help you make up your mind. My recommendation is Bitbuy with its intuitive interface, FINTRAC registration, lower withdrawal fees and ease of use.

Cell

Fiat Currencies

CAD

CAD, USD

Number of Coins

9

19

Buy/Sell Fees

0.2%

0.2%

Deposit Methods

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Cell

Interac e-Transfer

Bank Transfer (ACH)

Wire Transfer

PayPal

Credit Card

Debit Card

Bank Draft

Cryptocurrency

Features

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Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

FINTRAC registered

Offline cold storage

Website

Cell

Fiat Currencies

CAD

CAD, USD

Number of Coins

9

19

Buy/Sell Fees

0.2%

0.2%

Deposit Methods

Cell
Cell

Interac e-Transfer

Bank Transfer (ACH)

Wire Transfer

PayPal

Credit Card

Debit Card

Bank Draft

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

FINTRAC registered

Offline cold storage

Website

Pros
  • User-friendly Express Trade feature
  • Pro Trade gives access to advanced charts and tools
  • Extremely secure crypto exchange with BTC insurance
  • Low trading fees of only 0.2% for Express Trade and 0.1%/0.2% Maker/Taker fees for Pro Trade
Cons
  • Only offers 9 different cryptocurrencies
Pros
  • Live Chat and email customer support
  • No deposit fees
  • 19 different cryptocurrencies supported
  • Trading fees only 0.2%
Cons
  • Expensive withdrawal fees
  • Relatively new exchange

Bitbuy vs NDAX Fees

Let's start off our comparison with a look at the various fees charged by Bitbuy and NDAX.

Deposit Fees

Depositing CAD into Bitbuy will incur a 1.50% fee with Interac e-Transfer, and 0.5% fee using Wire transfer.

NDAX does not charge any deposit fees.

Trading Fees

On Bitbuy if you use Express Trade (the easiest way to buy and sell cryptocurrency), the fee is 0.2%.

If you use Pro Trade (trading on the market), the maker fee is 0.1% and the taker fee is 0.2%.

NDAX charges 0.2% for buying and selling cryptocurrency on their exchange.

Withdrawal Fees

Withdrawing CAD from your Bitbuy account will incur a 1.50% fee with Interac e-Transfer, and 1.0% fee using Wire transfer.

NDAX charges a very high flat fee of $25 per withdrawal. For the majority of users who are not withdrawing large amounts of money, the $25 flat fee will be a high percentage of the total withdrawal.

Winner - Bitbuy

Although Bitbuy charges a deposit fee, their lower withdrawal fees compare to NDAX's $25 flat fee make them the winner of the fees section.

Bitbuy vs NDAX Deposit Methods

Bitbuy accepts deposits via Interac e-Transfer, Wire Transfer and Cryptocurrency.

NDAX accepts deposits via Interac e-Transfer, Wire Transfer, Bank Draft and Cryptocurrency.

Winner - NDAX

NDAX has the same deposit methods as Bitbuy, as well as Bank Draft, so it wins the comparison on deposit methods.

Bitbuy vs NDAX Features 

Bitbuy and NDAX are both popular crypto exchanges in Canada that have plenty of features, but I won't disuss them all here. If you want to read about each of these exchanges in more detail, read my Bitbuy review (here) or my NDAX review (here). In this article I will write about some key features that separate Bitbuy and NDAX from the competition.

Bitbuy's platform is very intuitive and easy for beginners to navigate. With the Express Trade function, even a complete newcomer to crypto can figure out how to buy or sell any of the 9 popular cryptocurrencies available on Bitbuy.

Bitbuy isn't just for beginners, they do have advanced charts by TradingView that is more suited to experienced traders, who have access to limit and market orders.

Bitbuy is the most trusted and secure exchange in Canada, and they have partnered with  BitGo Trust Company to store their cryptocurrency offline. BitGo Trust Company is the world’s first qualified custodian, purpose-built for storing digital assets. All cryptocurrency assets held in custody with BitGo are covered by a comprehensive insurance policy, meaning that all cryptocurrency held in your Bitbuy account would be covered under the same policy.

NDAX has a great focus on customer support, and their team can be contacted via Live Chat and email. Support is available 24/7 and they are generally quite responsive.

NDAX has an Over The Counter (OTC) trading desk called NDAX wealth which is suited for large institutional investors or High Net Worth Individuals. NDAX build the OTC desk specifically for those investors that want to place orders of $200,000 or more. NDAX provides access to a deep liquidity pool to enable quick transactions with no price slippage. NDAX wealth clients will receive personalized service to assist with all of their large orders.

NDAX offers users a quick buy/sell feature for newbies and for the experienced traders they have a market with advanced charts and analysis tools such as trend lines, measurements and predictions, and annotations. Serious traders will enjoy access to different order types such as market, limit, stop loss, trailing stop market, fill or kill and IOC (immediate or cancel).

Winner - NDAX

NDAX has a basic buy/sell feature for newcomers, and advanced charts with tools for experienced traders. They also have 24/7 customer support with Live Chat. This makes NDAX the winner of this section.

Bitbuy vs NDAX Security

Bitbuy is known as the most secure and trusted cryptocurrency exchange in Canada. They have servers secured across multiple world class cloud providers and disaster recovery locations. All providers are ISO, SOC, and FIPS 140-2 compliant. Bitbuy’s privately maintained codebase keeps core components closed source, so your intellectual property is safe. Bitbuy's users have access to 2FA and biometric login security features, and the majority of Bitbuy's crypto assets are held offline in cold storage - partnered with BitGo Trust Company, with comprehensive insurance.

NDAX is a very safe crypto exchange, with its security standards among the highest in the Canadian FinTech industry. NDAX stores most of their cryptocurrency offline in cold storage in partnership with Ledger Vault. They are the global leader in crypto security and infrastructure solutions, and the assets are protected by multi-signature technology.

Winner - Bitbuy

Bitbuy is the winner in terms of security, as it is the most trusted and secure exchange in Canada and hasn't been hacked since its establishment in 2013.

Verdict - Bitbuy

Bitbuy and NDAX are both great exchanges, and they are very similar in many respects. Ultimately it comes down to your personal preference, but my recommendation for Canadians is Bitbuy. It has a beginner-friendly interface, FINTRAC registration, lower withdrawal fees and is the most secure and trusted exchange in Canada.

One downside of Bitbuy is that it only supports 9 cryptocurrencies. If you are after a wider range, NDAX offers 19, but if you want a much larger selection, you can go with Binance (see review here) which has over 300+ coins. For other options of crypto exchange, find an informative list and breakdown of the best crypto exchanges in Canada here.

Overall Winner - Bitbuy

Bitbuy is the overall winner because of its beginner-friendly interface, FINTRAC registration, lower withdrawal fees and it's the most secure and trusted exchange in Canada.

Still Researching?

If you want to continue researching before committing to an exchange, you might find my reviews helpful. Read my Bitbuy review (here) or NDAX review (here). If you want to read about the best crypto exchanges in Canada, that may also help you make a decision. I have also made a table comparing some key aspects of the top exchanges in Canada, which you can find below.

Comparison Table of the Best Crypto Exchanges in Canada

Bitbuy
Binance
VirgoCX
Coinberry
NDAX
Crypto Exchange
Crypto Exchange
Bitbuy
Binance
VirgoCX
Coinberry
NDAX
Fiat Currencies
Fiat Currencies
CAD
CAD, USD, GBP, EUR, AUD, HKD, JPY & 35 more
CAD, USD
CAD
CAD, USD
Cryptocurrencies
Cryptocurrencies
BTC, BCH, ETH, LTC, XRP, XLM, EOS, AAVE, LINK
BTC, ETH, XRP, LTC, BCH, EOS, XMR, TRX, XLM, NEO & 300+ more
BTC, ETH, LTC, EOS, DOT, ADA & 17 more
BTC, ETH, BCH, LTC, XLM, ADA, DOGE, DOT & 10 more
BTC, ETH, LTC, XRP, EOS, DOGE, ADA & 12 more
Deposit Methods
Deposit Methods
Interac e-Transfer, Wire transfer, Cryptocurrency
Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Cryptocurrency
Interac e-Transfer, Wire transfer, Credit card, Debit card, Cryptocurrency
Interac e-Transfer, Wire Transfer, Bank Draft, Cryptocurrency
Trading Fees
Trading Fees
Express Trade: 0.2%, Pro Trade: 0.1/0.2% Maker/Taker
0.1%
0%
Included in spread
0.2%

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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