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 | 17 | 36 |
Buy/Sell Fees | 1.5% | 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 |
Cell | ||
Fiat Currencies | CAD | CAD, USD |
Number of Coins | 17 | 36 |
Buy/Sell Fees | 1.5% | 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 |
- User-friendly Express Trade feature
- Pro Trade gives access to advanced charts and tools
- Storage of 99% of crypto assets offline with comprehensive insurance provided by BitGo
- No fees for depositing CAD into your account
- Only offers 17 different cryptocurrencies
- Live Chat and email customer support
- No deposit fees
- 36 different cryptocurrencies supported
- Trading fees only 0.2%
- 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 is free with Interac e-Transfer and Wire transfer.
NDAX also 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 1.5%.
If you use Pro Trade (trading on the market), the maker and taker fee is 1.5%.
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 Wire transfer.
NDAX charges a very flat fee of $4.99 per bank transfer withdrawal. If you withdraw using e-Transfer the fee is only $1.50.
Winner - NDAX
NDAX has lower trading fees and small withdrawal fees, particularly when using e-Transfer.
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 17 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 even shows their dedication to making their users happy by giving you FREE $10 when you sign up with this link.
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).
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. They are also the first crypto exchange in Canada to receive SOC2 Type II certification.
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 2016.
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 17 cryptocurrencies. If you are after a wider range, NDAX offers 36, but if you want a much larger selection, you can go with Binance (see review here) which has over 600+ 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
Related reading: Bitbuy review, NDAX review, Bitbuy vs Coinbase, Bitbuy vs Binance, Bitbuy vs Coinberry, Bitbuy vs VirgoCX, Best Canadian crypto exchanges
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