Security Compliance
NDAX keeps its digital assets in cold storage using Ledger Vault, although they do not state the percentage. Ledger is a big name in the cryptocurrency space, known for making secure hardware wallets.
When signing up to NDAX, you are forced to enable two-factor authentication. Most crypto exchanges will leave this optional, but we think everybody should do it, so we like this mandatory policy.
Additionally, when you wish to change your details such as your email, address, phone number etc, NDAX requires you to submit a selfie with a handwritten note outlining the request.
Beaver Bitcoin minimizes risk by never holding your funds—everything is sent directly to your own wallet. This non-custodial approach is as safe as your personal wallet setup. NDAX, however, shines in traditional custodial security: over 90% of assets are stored in cold storage via Ledger Vault, fiat funds are segregated, and the platform has SOC2 Type II certification. It also enforces mandatory 2FA and address whitelisting, putting it among the most secure Canadian exchanges.
Regulatory Compliance
NDAX is registered as a Money Service Business with FINTRAC and AMF, NDAX is fully compliant with Canadian regulations.
Both are registered with FINTRAC as Money Services Businesses and must comply with the PCMLTFA (Proceeds of Crime (Money Laundering) and Terrorist Financing Act). NDAX takes compliance further, being regulated by CIRO for its staking service and by the AMF in Quebec. Its stricter oversight and detailed reporting make it one of the most compliant platforms in the country.
Customer support
NDAX provides a knowledge centre on its website. Articles here answer some of the most common questions. They also have a live chat function, which is handy when you need a quick answer. You can also email them for support. Confusingly, NDAX lists its phone number on its contact page, which is rare for a crypto exchange to do. We weren’t sure if this meant they had phone support, so we reached out via email to ask. They got back to us a very impressive 20 minutes later to let us know that they only have email support. So that’s that. Still, that’s the fastest response we’ve seen.
Beaver Bitcoin offers simple email-based support, fitting its small and focused service. NDAX has a broader setup with a knowledge base, live chat, and quick email replies—often within 20 minutes. They also respond to Trustpilot reviews, which shows active customer care.
Conclusion
Beaver Bitcoin is an excellent choice if your only goal is to buy Bitcoin easily and hold it in your own wallet. But NDAX wins this comparison for its lower fees, larger coin selection, staking options, and professional-grade security. For Canadians who want a full-featured exchange that still feels accessible to beginners, NDAX is the better platform.
We recommend choosing NDAX over Beaver Bitcoin for your cryptocurrency trading needs. By opting for NDAX through our referral link, you support us in conducting comprehensive independent analyses of crypto trading options for Canadians.
If you find that neither NDAX nor Beaver Bitcoin meets your requirements, we encourage you to explore our monthly-updated list of the best exchanges for Canadians to trade crypto. This list provides a range of alternative options that may better suit your specific needs and preferences.
