Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    NDAX vs Bitbuy Fees, Pros & Cons

    NDAX-comparison
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    The Bitbuy vs NDAX (National Digital Asset Exchange) debate is pertinent amongst Canadian crypto investors. Both trading platforms are popular in the Great White North. But, what are their similarities and differences, and which crypto exchange does it better?

    Following our extensive research on both platforms, Bitbuy is an excellent entry-level platform for cryptocurrency novices due to its well-designed layout and easy-to-use features. In contrast, while NDAX is also beginner-friendly with a broader crypto asset lineup. NDAX is also infused with advanced trading tools, making it better suited for elite traders to trade crypto. 

    This comparison examines the features of these two Canadian cryptocurrency exchanges, providing detailed information for potential users.

    NDAX vs. Bitbuy: Verdict

    Our pick in this comparison is NDAX due to the user friendly interface and lower fees.

    Pros

    Cons

    Pros

    Cons

    NDAX Vs Bitbuy: Unique Features

    Unique Features of NDAX

    ndax features comparison
    • User-friendly interface and New Account Incentive: NDAX offers a straightforward, user-friendly interface, making it suited for beginners. When a new user creates an account, they also receive a FREE $10 registration bonus.
    • Mobile App: NDAX mobile apps are accessible in the Apple Store and Google’s Playstore. These apps make it simple for traders to manage their portfolios and keep an eye on market movements. They also offer advanced trading, crypto storage, and an easy way to send assets to friends.
    • OTC Desk for large professional traders: NDAX provides an Over The Counter (OTC) trading desk dubbed NDAX Wealth for large institutional investors or high-net-worth individuals. Over The Counter was created especially for investors who transact at least $200,000 and above. A deep liquidity pool is accessible through NDAX, allowing for rapid transactions with no price slippage. Additionally, OTC customers get personalized service to assist with their large orders.
    • Quick Buy/Sell feature: With a Quick Buy/Sell function located directly on the Dashboard, NDAX makes trading in the market simple for new individuals. Investors can sell or buy crypto by selecting the desired amount in fiat or cryptocurrency and clicking the Buy or Sell button.
    • Advanced Charts: Experienced cryptocurrency traders will also benefit from NDAX because it gives them access to advanced charts with analytical features like trend lines, measurements and forecasts, and annotations. Numerous order types are available, including market, limit, stop loss, trailing stop market, fill or kill, and IOC (immediate or cancel).
    • Customer Support: NDAX is dedicated to providing excellent customer service and offers 24/7 live chat and email support so customers can always get in touch when they require help. In addition to email, there is also the option of live chat, and NDAX typically responds quickly.

    Unique Features of Bitbuy

    bitbuy features comparison
    • Easy Express Trade for Beginners: Bitbuy is ideal for beginners because it has an Express Trade option that makes buying and selling cryptocurrencies simple. Traders’ orders will be filled instantly after choosing the coin they want to purchase or sell and the quantity. Dealing with markets or creating complex order types is not necessary. Anyone can use Bitbuy’s user-friendly platform even if they have no prior familiarity with cryptocurrency.
    • Mobile app: Bitbuy offers a mobile app for iOS and Android smartphones that enables users to trade anytime and track prices from anywhere. Investors can download from Apple app and Google play store. Users won’t have trouble using the app because it is just as simple as the desktop website.
    • Pro Trade – advanced charts by TradingView: Bitbuy offers a Pro Trade function for seasoned traders that shows much more data than the Express Trade option. Limit and market orders are included, as well as TradingView’s advanced charts.
    • Bitbuy API: Bitbuy has developed an application programming interface (API) that allows individuals, institutions, and algorithmic traders to automate their trading activity by connecting to their markets. This API has several pairs for CAD-to-crypto and crypto-to-crypto. Using the API, users can automate trades using high-frequency trading and real-time exchange rates.
    • OTC service – place large orders without slippage: Bitbuy’s round-the-clock OTC service is a great option to trade for investors wishing to place orders over $50,000. Using the OTC desk allows users to acquire live price quotes on large quantities of a coin for a set price while avoiding slippage.
    • Comprehensive crypto insurance – partnered with BitGo Trust Company: All cryptocurrency assets held by Bitbuy in cold storage have been transferred to BitGo Trust Company, the first licensed custodian created specifically to hold digital assets, in accordance with the new Canadian legislation. The bitcoin in your Bitbuy account would be covered by the same comprehensive insurance policy that covers BitGo.

    Winner in Unique Features

    Bitbuy wins this section as it has more features to cater to both novice and advanced crypto traders.

    Bitbuy vs NDAX: Cryptocurrencies Available

    NDAX and Bitbuy have a decent selection of supported coins. NDAX offers more than 30 of the most popular cryptocurrencies users can buy. In comparison, Bitbuy offers 25 popular cryptocurrencies, including Ethereum, Bitcoin Cash and more, for users to trade.

    Although some users prefer a greater variety of coins, the selection offered by these exchanges is adequate for most newcomers and seasoned traders. Additionally, new coins are added on a regular basis, as such their collection is continuously growing.

    Winner in Crypto Availability

    NDAX exchange beats Bitbuy when it comes to the number of crypto assets supported by both exchanges.

    Bitbuy vs NDAX: Can you Buy and Sell NFTs

    Traders can buy and sell non-fungible tokens (NFTs) on both exchanges. NFTs such as Axie Infinity (AXS), Gala (GALA), Decentraland (MANA), and Sandbox (SAND) are traded on the NDAX exchange.

    The Bitbuy exchange also supports NFTs, including Decentraland (MANA), Sandbox (SAND), Axie Infinity (AXS), and Ape Coin (APE). To begin buying or selling any of these NFTs, users will need to create a Metamask wallet.

    Winner in NFTs Availability

    Both exchanges offer users the access to the NFTs marketplace, hence its a tie for this round.

    NDAX Vs Bitbuy: Fees

    ndax vs bitbuy fees

    NDAX charges a competitively low trading fee of 0.2%. However, the crypto exchange levies a $4.99 (CAD) fee for bank direct and Wire transfer fiat withdrawals. There are no limits on traders’ withdrawals, and the fee stays the same irrespective of the withdrawal amount.

    Although Bitbuy offers free deposits, it charges higher fees, including a 1.5% fee on both express and spot trading. There is also a 0% to 1.50% maker fee, 0.10% to 1.50% taker fee, 1.5% withdrawal fees for e-Transfer, and 1.5% wire transfer withdrawal fee, while only mining fees apply to Crypto withdrawal.

    Winner in Fees

    NDAX exchange comes on top in this Bitbuy vs NDAX section for trading fees charged.

    NDAX Vs Bitbuy: Payment Methods

    Both crypto exchanges accept fiat and cryptocurrency deposits. However they only accept fiat deposits in CAD.

    Interac e-Transfer, wire transfer, bank draft, and cryptocurrency are the most common payment methods for the NDAX account. Interac e-transfer processing takes 30 minutes, and wire transfer and bank draft takes 0 to 1 business day. Crypto deposits are also typically instant, though occasionally it may vary depending on the network.

    Bitbuy exchange accepts deposits via Interac e-Transfer, Wire Transfer, and Cryptocurrency. Transaction processing time for Interac e-transfer is near instant. On the other hand, wire transfer takes 3-5 business days, while crypto depends on the network.

    Winner in Payment Methods

    NDAX wins in payment methods. NDAX offers more options for payment methods.

    NDAX Vs Bitbuy: Security

    In terms of security, both crypto exchanges dedicated to protecting user funds. Ledger Vault, the industry pioneer in infrastructure and security solutions for cryptocurrencies, provides multi-signature technology to protect most of NDAX’s digital assets held offline in cold storage.

    The crypto exchange is registered with FINTRAC and Revenue Québec as a Money Service Business (MSB). The platform is completely compliant with both organizations’ regulations and has money insurance. Additionally, NDAX requires customers to submit a selfie and a handwritten statement describing the request if they want to modify personal information, including email address, address, phone number, and more.

    Bitbuy also has excellent security features in place. The exchange is federally approved as a Restricted Dealer, and FINTRAC  registered as a money services business. It also has a thorough insurance plan with BitGo and retains 95% of all of its digital assets in cold storage.

    Bitbuy servers are protected by several top-notch cloud service providers and disaster recovery sites. All suppliers adhere to ISO, SOC, and FIPS 140-2 standards. The exchange has a two-factor authentication setup, which requires two types of identification when users login into their accounts or make a trade, such as a password and a smartphone.

    While NDAX does not disclose what percentage of user’s funds are kept in cold storage, we like how clear Bitbuy is on this point because using cold storage ensures customer’s funds are secured against cyber criminals.

    Winner in Security

    Bitbuy wins when it comes to security.

    NDAX Vs Bitbuy: Earn/Staking Rewards

    Staking is the procedure of actively holding digital assets while participating in transaction validation on a proof-of-stake (PoS) blockchain. It enables investors to keep assets and get frequent cryptocurrency rewards.

    NDAX exchange supports staking, and users automatically earn cryptocurrency rewards when they stake their digital assets for the designated time. Depending on the coin and staking plan, these rewards can be redeemed at various intervals. Different coins have various reward payout cycles.

    NDAX users have the option of staking crypto assets like Ethereum (ETH) in exchange for regular cryptocurrency rewards. The table below shows the details of NDAX staking.

    Digital Asset Average APY% Reward Payout Frequency Bonding Period Min. Staking Amount Min. Lock-up Period Unstaking Period
    Polkadot (DOT) 12.0% Daily 2 Days 0.1 DOT N/A 28 Days
    Polkadot (DOT) 4.0% Daily 2 Days 0.1 DOT N/A Instant
    Ethereum (ETH) 5.0% Weekly 3 Days 0.001 ETH 1 Year N/A
    Cardano (ADA) 4.8% Daily 1 Day 1 ADA N/A Instant

    Winner in Earn/Staking Rewards

    Bitbuy does not offer crypto staking. Therefore, NDAX wins in the staking/reward category.

    NDAX Vs Bitbuy: Interface

    NDAX is a simple and user-friendly exchange. The exchange in Canada offers a straightforward design perfect for novice traders while catering to advanced traders with extensive charts and order choices. Overall, it fosters a conducive atmosphere that benefits both beginners and seasoned traders.

    For Canadians looking to purchase cryptocurrency, Bitbuy offers two options. Beginners or anyone looking for a quick market trade can use Express Trade. For more seasoned traders who want to place complex order types, the Pro Trade platform is designed for them.

    Winner in Interface

    Both platforms are beginner-friendly and easy to use. Therefore, the usability section ends in a draw.

    NDAX Vs Bitbuy: Customer Service

    NDAX and Bitbuy both include knowledge centers and FAQs with a wealth of useful material on their websites. Also, customers can email the support teams or send them online messages through their help pages.

    In addition to providing phone support, NDAX and Bitbuy also provide a live chat option available around the clock on their website.

    Bitbuy Customer Support

    Winner in Customer Service

    Therefore, the customer service section ends in a draw between both platforms as well.

    Conclusion: Final Verdict

    In summary, our Bitbuy vs NDAX review has shown that both platforms have similar features. Both exchanges also offer user-friendly platforms and make cryptocurrency trading simple for Canadians. In addition, investors would find their security architecture solid, even though NDAX has a more comprehensive setup, they’re less transparent with how much of the customer’s funds are kept in cold storage. While this isn’t a dealbreaker by any chance, as its best customers store their crypto offline if they’re holders.

    Overall Winner

    So, which platform should you choose? It comes down to personal preferences because these exchanges are similar in setup. However, we recommend NDAX as the better option for Bitcoin investors.

    NDAX is Canada’s most reliable cryptocurrency exchange, as it features a user-friendly interface, FINTRAC registration, lower trading fees, and other advantages like staking and better customer service.

    FAQ

    Most frequent questions and answers

    Bitbuy is an exceptional crypto trading platform. Investors can buy or sell cryptocurrency with the Canadian Dollars using Bitbuy’s Express Trade tool. Additionally, Bitbuy offers capabilities for more seasoned traders, such as Pro Trade with TradingView’s sophisticated charts and an OTC desk to facilitate huge deals of over $50,000.

    NDAX is legit. The exchange’s legal status shows it’s a Money Service Business company regulated by the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC). The Canadian exchange safeguards user data using accepted industry procedures like DDoS mitigation and two-factor authentication (2FA).

    Bitbuy has a built-in wallet for every account with insurance in place through BitGo to protect users’ assets up to the full value. Coin holdings are also kept offline in cold storage.

    Bitbuy is a legitimate and secure exchange in Canada. The exchange considers consumer safety and security a priority to offer a reliable and safe platform. Bitbuy exchange safeguards users through cold storage, 2FA, and Secure SSL encryption. Also, the exchange follows all Canadian regulations as a registered Money Services Business with FINTRAC.

    Our NDAX reviews show that the exchange’s simple layout design is ideal for beginners while catering to experienced traders due to its advanced charts and order choices. The exchange supports multiple payment methods like Interac e-Transfer, wire transfer, bank draft, and cryptocurrencies. Furthermore, for beginners, purchasing their first cryptocurrency is relatively straightforward due to the platform’s Quick Buy and Quick Sell features.

    We always try to provide the most accurate information available, and make sure our team follow through.
    If you want to know more about our Crypto Exchanges Review Methodology follow the link below

    Skrumble.com 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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