NDAX, the National Digital Asset Exchange, a new exchange platform in Canada is now in full swing after their launch on the 23rd of June this year. Since then, NDAX have added an option to exchange FIAT currencies for XRP and will be continuing to improve traders portfolio by adding new listings on a regular basis. NDAX does boast a number of features that makes their exchange platform slightly different to a traditional cryptocurrency exchange. According to Cryptoglobe:
“One of the interesting things about NDAX is that clients' fiat depoits (CAD) are held in a ‘segregated bank account at a trusted Canadian banking institution.’ Another is the offer of zero deposit fees for the remainder of 2018. Other competitive advantages cited by NDAX include: ‘low trading and withdrawal fees, instant ID verification, institutional level security, and deep liquidity for large transactions.’ For expedited settlement, it offers the following options: Interac e-Transfer, wire, bank draft, certified cheque and EFT/direct deposit.”
As it stands, NDAX now supports Bitcoin, Ethereum, Bitcoin Cash, Litecoin and XRP, giving traders a wealth of options for trading, ahead of other competitors in Canada which haven’t yet secured listings for the likes of XRP. Since NDAX is registered by the Financial Transactions and Reports Analysis Centre of Canada, traders and investors can be sure that their assets are safe and that the exchange is operating within legal boundaries, something that will offer the community some solace given the increase in crypto crime that seems to be situated around exchanges at the moment. The introduction of NDAX marks a new era for the cryptocurrency revolution in Canada. As crypto grows in Canada, the country appears on the adoption radar, giving cryptocurrency brands the chance to increase their operations there in the pursuit of becoming the nation's favourite and thus, most adoptable cryptocurrency. Not to be out done by their neighbours in the United States, Canada could soon come to the fore of the cryptocurrency revolution.
Robert first came across Bitcoin in 2016 during a meetup in Belgium, and has been hooked ever since. With a background in Economics, you can find Robert frequently looking at the Twitter feed of the SEC for any regulatory updates relating to Bitcoin and Crypto in general.
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