NDAX is a Canadian exchange, based in Calgary, offering spot trading and staking. There are no futures and no margin, which makes it the simplest account in this group to account for.
Its pairs are priced in Canadian dollars. If you file in Canada, that removes an entire category of error that affects dollar-priced venues.
It became a registered investment dealer at the end of 2024, which changed a few things worth knowing.
What you get out of the box
Pick your import method.
On NDAX
- Download your transaction history from your account area as a file.
- Or create a read-only API key so Kryptos can pull it automatically.
On Kryptos
- Go to Kryptos.io and sign up with your Google account.
- From the menu, click Integrations.
- Click Add Integration and search for NDAX.
- Choose Import using API Keys, paste your key and secret, then click Import Your Transactions.
- To pull a specific date range instead of everything, open Advanced Options before importing.
Good to know
- Prices are in Canadian dollars, so no currency conversion is needed if you file in Canada.
- There are no futures and no margin here, so no funding payments and no liquidations.
- Investor protection covers Canadian dollars held with them. It does not cover crypto.
Why being priced in your own currency matters
This sounds like a small detail and it removes one of the most common sources of error in a crypto tax return.
Almost every exchange prices its pairs in US dollars or in a dollar-pegged stablecoin. If you file somewhere else, every single trade has to be converted into your own currency at the rate that applied on the day it happened. Not today's rate, not an average, the rate on that date.
Do that across a few hundred trades and the opportunities for error multiply. Use the wrong date, use a monthly average where the rules want a daily rate, or miss that your own currency moved sharply mid-year, and the resulting figures can be materially wrong even though every trade was recorded correctly.
NDAX prices in Canadian dollars. For a Canadian filer, the proceeds and costs are already in the currency the return uses, so that whole layer disappears. What you see is what you report.
The rest of the account is unusually simple too. No futures means no funding payments. No margin means no liquidations. What remains is spot trades and staking rewards, and staking rewards are income at the value received. For how staking income is treated where you file, see the USA crypto tax guide or the UK crypto tax guide.
Manage your NDAX portfolio with Kryptos.
Filing in Canada without conversion
Because trades are priced in Canadian dollars, the proceeds are already in the currency your return uses.
Recording staking rewards
Rewards are income at their value when received, and that value becomes their cost for a later sale.
Recurring purchases
Buying on a schedule produces many acquisitions at different prices, each with its own cost.
Audit-ready, automatically.
Once your wallets and exchanges are connected, generating a tax report takes a single click. Open Reports from the menu, choose your jurisdiction, and download.
Pricing in your own currency removes a common error
Most exchanges price in US dollars or a stablecoin, so a Canadian filer has to convert every trade at the rate that applied on the day. Getting those conversions wrong is one of the most common sources of error. Here the figures are already in the right currency.
Staking rewards are income when received
Each reward is a receipt at its value on the day, and that value is also the cost you measure against when you sell.
There are no derivatives to complicate things
No futures means no funding payments and no liquidations, which removes the two events people most often miss elsewhere.
Investor protection does not extend to crypto
Coverage applies to Canadian dollars held in your account. Your crypto is not protected by it, which is worth knowing regardless of tax.
Read-only by design.
- Create the key with read permission only, never withdrawal
- A read-only key can see your history but can't move funds
- Kryptos never asks for your password or login details
- Revoke the key on the exchange at any time and the connection stops
If something doesn't sync.
Not if you file in Canada. Pairs are priced in Canadian dollars already.
There are none. NDAX offers spot trading and staking only.
Investor protection covers Canadian dollars held with them, not cryptocurrency.
Still stuck? Email support@kryptos.io or open live chat from the app.