NDAX vs Kraken | Which Exchange Is Best For CA & US?

When it comes to trading fees, let's take a closer look at NDAX and Kraken to see how they stack up against each other.

Starting with NDAX, this exchange charges a flat fee of 0.2% for both buying and selling cryptocurrencies. While this might not be the lowest fee in the market, it is in line with other reputable exchanges like Gate.io and MEXC.

Unfortunately, NDAX does not offer any rebates for high volume traders, meaning that regardless of how much you trade, you'll be paying the same fee.

On the other hand, Kraken offers a slightly different fee structure. For spot trading, their maker fee stands at 0.16%, which is relatively competitive.

However, the taker fee is slightly higher at 0.26%. This means that if you are actively trading and taking liquidity from the market, you'll have to pay a bit more in fees.

Kraken also provides the opportunity to lower your trading fees if your monthly trade volumes exceed $50,000. This can be a significant advantage for high volume traders who want to minimize their costs.

Comparing the two, it's clear that Kraken has a more dynamic fee structure with the potential for discounts based on trading volumes.

NDAX, on the other hand, offers a straightforward flat fee without any rebates. However, both exchanges have reasonable trading fees that are not too far out of line with the best in the industry.

NDAX and Kraken are both cryptocurrency exchanges that offer various deposit methods for fiat currencies. Let's take a closer look at the deposit methods provided by each exchange.

NDAX, primarily catering to the Canadian market, allows users to deposit Canadian Dollars (CAD) via Interac e-Transfer or Wire Transfer. Both deposit methods are free of charge, providing convenience and cost-efficiency for their users.

The Interac e-Transfer option ensures instant deposit of funds, while Wire Transfers may take up to 1 business day for the funds to arrive.

On the other hand, Kraken offers support for deposits with several fiat currencies, including USD, EUR, CAD, AUD, GBP, CHF, and JPY. The exchange provides multiple deposit methods such as Fedwire, SWIFT, ACH, SEPA, FPS, and more.

Kraken stands out by offering free ACH deposits for USD, EUR, and CAD. Users can easily deposit funds through bank transfers (ACH) or SEPA without incurring any additional charges.

While both exchanges offer convenient deposit methods, NDAX focuses solely on the Canadian market and provides specific deposit options for Canadians.

Kraken, on the other hand, caters to a broader international user base and offers a wider range of fiat currencies and deposit methods.

When it comes to withdrawing funds from NDAX, users have the option to withdraw either their CAD or their cryptocurrencies.

For CAD withdrawals, NDAX provides a single method called EFT (Direct Bank). This method typically takes 1 business day to arrive and incurs a fee of $4.99 CAD.

On the other hand, cryptocurrency withdrawals from NDAX are relatively instant. The fees for these withdrawals vary depending on the specific cryptocurrency. For Bitcoin withdrawals, the fee is 0.0004 BTC.

For Ethereum withdrawals, the fee is 0.001 ETH. For Solana withdrawals, the fee is 0.01 SOL. Finally, for ERC-20 Tether withdrawals, the fees range from 10 to 20 USDT.

Moving on to Kraken, this exchange offers fiat withdrawals for all 7 of the currencies they support. For users looking to withdraw in fiat, they have several options available. ACH withdrawals are free of charge, making it a convenient and cost-effective option.

For SEPA withdrawals, there is a fee of 0.9 EUR. SWIFT withdrawals come with a fee of $4, while FPS withdrawals have a fee of 1.95 GBP.

On the cryptocurrency front, for Bitcoin withdrawals, the fee is 0.00001 BTC. Ethereum withdrawals have a fee of 0.0035 ETH. Solana withdrawals come with a fee of 0.01 SOL. Finally, ERC-20 Tether withdrawals have a fee of 3.55 USDT.

In conclusion, when comparing NDAX and Kraken, it is evident that both exchanges have their own unique advantages and offerings.

NDAX, with its focus on the Canadian market, provides a secure and user-friendly platform for Canadian residents to buy, sell, and trade cryptocurrencies.

While NDAX offers a smaller range of around 40 cryptocurrencies, it places a strong emphasis on compliance, security, and customer support.

Kraken offers a wider range of services than NDAX and supports over 190 cryptocurrencies, making it more appealing to users who require a larger variety of trading options.

In terms of the signup and KYC verification processes, NDAX and Kraken both require their users to pass KYC in order to trade but NDAX is only available to Canadian citizens.

And while NDAX charges a flat fee of 0.2% for buying and selling cryptocurrencies, Kraken offers a more dynamic fee structure that starts at 0.16% for makers and 0.26% for takers, with potential discounts based on trading volumes.

While NDAX's fee structure is straightforward, Kraken's discounts can be advantageous for high volume traders.

And while NDAX only supports deposit and withdrawals with CAD, Kraken caters to a more global user base and supports multiple fiat currencies, offering various deposit methods such as bank transfers and SEPA.

While NDAX is a decent local Canadian exchange, unfortunately, it is not able to compete and win against Kraken.

Kraken is simply the more versatile exchange of the two as it offers more cryptocurrencies, more products, lower fees and leveraged products.