NDAX vs Coinbase | Here's Why Canadians Should Use Coinbase

When it comes to trading fees, NDAX and Coinbase offer different options for cryptocurrency enthusiasts. Let's start with NDAX.

This exchange charges a flat fee of 0.2% for both buying and selling cryptocurrencies. Unlike some other platforms, NDAX doesn't offer any rebates or discounts for high-volume traders.

While this fee structure is not too shabby and is in line with popular exchanges like Gate.io and Huobi, it's more expensive compared to exchanges like OKX and Binance.

Now, let's move on to Coinbase's trading fees. When it comes to trading fees, Coinbase offers a tiered structure. For spot trading, the maker fee is 0.40% and the taker fee is 0.60%.

Coinbase also gives traders the opportunity to lower their fees by exceeding a certain monthly trade volume. If you surpass $10,000 in monthly trades during a 30-day window, your trading fees can be reduced.

Let's compare the deposit methods offered by each exchange. NDAX allows users to deposit Canadian Dollars (CAD) via Interac e-Transfer or Wire Transfer.

Interac e-Transfers are free of charge and the funds arrive instantly. Wire Transfers, on the other hand, can take up to 1 business day for the funds to arrive. Both deposit methods are convenient for Canadian users who want to deposit CAD into their NDAX accounts.

Coinbase supports three fiat currencies for deposits, including USD, EUR, and GBP. Fiat deposits can be made via ACH, Wire (USD), SEPA (EUR), and Swift (GBP).

ACH deposits are free of charge, while Wire deposits require a $10 USD fee. SEPA deposits have a 0.15 EUR fee, and Swift deposits are free of charge.

Coinbase offers multiple deposit methods for users in different regions, making it accessible to a wide range of customers.In summary, NDAX and Coinbase have different deposit methods available.

NDAX focuses on Canadian users with options for Interac e-Transfer and Wire Transfer, while Coinbase offers various deposit methods such as ACH, Wire, SEPA, and Swift across different regions. Users should consider their location and preferred payment methods when choosing between these two exchanges.

Let's take a closer look at each exchange's withdrawal methods and fees. Starting with NDAX, users have the choice to withdraw either CAD or cryptocurrencies.

For CAD withdrawals, NDAX provides a single method called EFT (Direct Bank), which takes 1 business day to arrive and has a cost of $4.99 CAD. This option offers a convenient and relatively fast way for users to withdraw their Canadian dollars from the exchange.

On the other hand, cryptocurrency withdrawals on NDAX are more or less instant. The fees for these withdrawals vary depending on the cryptocurrency being withdrawn. For Bitcoin withdrawals, the fee is 0.0004 BTC, for Ethereum it is 0.001 ETH, for Solana it is 0.01 SOL, and for ERC-20 Tether it ranges from 10 to 20 USDT.

Moving on to Coinbase, this exchange provides a wide range of fiat withdrawal methods for users looking to cash out their funds. Fiat withdrawals are available via ACH, Wire, SEPA, and Swift. ACH withdrawals are free of charge, while Wire withdrawals incur a $25 USD fee.

SEPA withdrawals have a fee of 0.15 EUR, and Swift withdrawals require a payment of 1 GBP. These options offer flexibility for users who prefer different banking systems or need to withdraw funds in specific currencies.

When it comes to cryptocurrency withdrawals on Coinbase, the fees again vary depending on the specific cryptocurrency. For Bitcoin, the fee is 0.0002 BTC, for Ethereum it is 0.000768 ETH, for Solana it is 0.008 SOL, and for ERC-20 USDT it is 3 USDT.

These fees are relatively low, allowing users to easily transfer their cryptocurrencies to other wallets or exchanges. In summary, NDAX and Coinbase both offer different withdrawal methods and fees to cater to the diverse needs of their users.

In conclusion, NDAX and Coinbase are both well-established cryptocurrency exchanges catering to different regions with their respective advantages. NDAX, with its focus on serving the Canadian market, has gained popularity among Canadian cryptocurrency enthusiasts.

The exchange boasts a small user base of between 250,000 to 500,000 registered users and offers a limited range of around 40 cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, Ripple, Cardano, and Solana.

The NDAX platform is accessible through both Android and iOS devices, with positive reviews from its user base. On the other hand, Coinbase, a leading US-based exchange, has a global presence and over 100 million users, making it one of the largest exchanges worldwide.

Coinbase offers a comprehensive range of services, including spot trading, recurring buys, staking, and an educational program called Coinbase Learn & Earn. The exchange supports various cryptocurrencies, including Bitcoin, Ethereum, and multiple fiat currencies.

When it comes to signing up and completing the KYC process, NDAX has a straightforward process primarily for Canadian citizens, while Coinbase is available to users from various regions.

In terms of trading fees, NDAX charges a flat fee of 0.2% for both buying and selling cryptocurrencies. On the other hand, Coinbase offers a tiered fee structure, with a maker fee of 0.40% and a taker fee of 0.60% for spot trading.

When it comes to deposit and withdrawal methods, NDAX focuses on Canadian users with options for Interac e-Transfer and Wire Transfer, while Coinbase offers various methods such as ACH, Wire, SEPA, and Swift across different regions.

So which exchange do we like best? For us Coinbase is the clear winner as it's the more varied exchange that offers many more cryptocurrencies even though the spot trading fees are a bit higher.