NDAX vs Coinsmart | Should You Use Either Exchange Today?

NDAX charges a flat fee of 0.2% for both buying and selling cryptocurrencies. While this fee is not too shabby, unfortunately NDAX like most other exchanges does not offer any rebates for high volume traders. So whether you're a small-time investor or a big player, everyone pays the same fee.

Moving on to Coinsmart, they charge a fee of 0.2% for single trades, which is already quite competitive. However, if you're conduct trades where you're trading two cryptocurrencies that are not Bitcoin, the fee increases slightly to 0.3%.

NDAX and Coinsmart are both cryptocurrency exchanges that offer different deposit methods for fiat currencies.

NDAX supports Canadian Dollars (CAD) deposits, while Coinsmart supports USD, EUR, and CAD deposits. If you want to deposit CAD into NDAX, you have two options: Interac e-Transfer or Wire Transfer. Both methods are free of charge, but there is a slight difference in processing time.

Interac e-Transfer is instant, while Wire Transfers can take up to 1 business day before the funds arrive.

On the other hand, Coinsmart supports three fiat currencies: USD, EUR, and CAD. For EUR deposits, SEPA (Single Euro Payments Area) is the available method. Deposits through SEPA are free of charge and have a minimum deposit requirement of 50 EUR. The processing time for SEPA deposits is up to 5 business days.

If you wish to deposit USD into Coinsmart, you can do so via Wire Transfers. Like SEPA deposits, Wire Transfers are also free of charge and have a processing time of up to 5 business days.

For CAD deposits on Coinsmart, you have two options: Interac e-Transfer and Wire Transfers. Interac e-Transfers are faster, while Wire Transfers have the same processing time as USD and EUR deposits (up to 5 business days).

Both methods are free of charge, but it is worth noting that Interac e-Transfers have a 1.5% deposit fee for deposits under $1,999, and above that amount, it is free.

NDAX and Coinsmart are both popular cryptocurrency exchanges that offer withdrawal methods for both fiat currencies and cryptocurrencies.

Starting with NDAX, users have the option to withdraw either their Canadian Dollars (CAD) or their cryptocurrencies.

For CAD withdrawals, NDAX provides a convenient method called EFT (Direct Bank), which takes just 1 business day to arrive. There is a fee of $4.99 CAD associated with this type of withdrawal.

When it comes to withdrawing cryptocurrencies from NDAX, the fees depend on the cryptocurrency being withdrawn.

For example, Bitcoin withdrawals come with a fee of 0.0004 BTC, while Ethereum withdrawals have a fee of 0.001 ETH. For Solana withdrawals, the fee is 0.01 SOL. If users wish to withdraw ERC-20 Tether, they can do so with a fee ranging from 10 to 20 USDT.

Coinsmart offers users the ability to withdraw their funds in multiple fiat currencies such as USD, EUR, and CAD.

The withdrawal methods available on Coinsmart include Wire Transfer and SEPA withdrawals. SEPA withdrawals are completely free of charge and have processing times ranging from 1 to 5 days, providing a convenient option for users.

For withdrawals via Bank wire or Interac e-Transfer, there is a 1% commission or a minimum fee of $15 CAD, whichever is higher.

When it comes to withdrawing cryptocurrencies from Coinsmart, Bitcoin withdrawals come with a fee of 0.00025 BTC, while Ethereum withdrawals have a fee of 0.003 ETH. For Solana withdrawals, there is a fee of 0.01 SOL. If users wish to withdraw ERC-20 USDC, they can do so with a fee of 10 USDT.

In conclusion, both NDAX and Coinsmart are reputable and trustworthy Canadian cryptocurrency exchanges that cater to the needs of Canadian investors.

NDAX excels in its emphasis on compliance, security, and customer support. With over 50 cryptocurrencies available for trading, including popular options like Bitcoin, Ethereum, Ripple, and Solana, NDAX offers a small range of cryptocurrencies exclusively to Canadian citizens.

Coinsmart prides itself on its user-friendly interface and accessibility for beginners. It is available in over 40 countries, making it more inclusive for international users. With a limited range of 16 cryptocurrencies available for trading, Coinsmart may not appeal to more experienced traders looking for a wide variety of options.

When it comes to trading fees, both exchanges offer reasonable rates. NDAX charges a flat fee of 0.2% for buying and selling cryptocurrencies, without any rebates for high volume traders. Coinsmart also charges a fee of 0.2% for single trades, with a slightly higher fee of 0.3% for double trades.

In terms of deposit methods, both NDAX and Coinsmart offer free options for CAD deposits through Interac e-Transfer and Wire Transfer. Coinsmart also supports USD and EUR deposits, with free Wire Transfers and SEPA deposits available.

This gives Coinsmart an advantage in terms of flexibility and options for users looking to deposit different fiat currencies. Either way however, both NDAX and Coinsmart are very limited exchanges that are unlikely to attract a large audience considering the limited range of products, cryptocurrencies and higher trading fees.