ndax logo

NDAX Monthly Rewind - March 2022

Mar 31, 2022
byAbdullah Salim

Spring has sprung! This month was no different from the markets seeing new growth and NDAX delivering on a new coin listing to further cultivating our crypto community relationships and rewarding our biggest advocates.

Tax season is also upon us and we’re here to safely guide you forward in this new financial world with great resources and tools.

Let’s go!

In this month’s Rewind:
🆕 New Coin Listing: GALA
🏆 Hackernoon’s ‘Startup of the Year’
💲 Crypto tax guide
👍 Tips to prevent fraud
📚 Cointelegraph Innovation Circle
📣 Last day to earn 3x referral rewards

Gala Games is a blockchain gaming platform that aims to make blockchain games you actually want to play.

GALA is the primary medium of exchange between players on the Gala Games platform, enabling users to conduct transactions and securely transfer funds within the game ecosystem. It’s also used to reward validators and individual players.

Owned by the players, $GALA has seen over +800% growth in the past year!

NDAX users can buy, sell, deposit, and withdrawal GALA from both our web and mobile app.

Learn more about Gala

Check $GALA price

NDAX is thrilled to be named by Hackernoon as Calgary ‘Startup of the Year’.

“Let’s recognize those who not only survived but thrived through 2021. Let’s get behind those who backed us through a pandemic. Let’s nominate the very best in business.”

A big thanks to all of you! We couldn’t be more grateful for such a successful year. 2022 will be a year of incredible new features, innovation, and ensuring Canadians have even greater opportunities to earn more from their digital assets!

We have lots of exciting new products coming to our trading platform very soon - many of which have been the most requested features by the NDAX community in 2021, and will soon become a reality.

💲Crypto tax guides and partners

Did you sell or stake crypto this year? If yes, you’ll likely need to declare it.

With the deadline for taxes closely approaching here are a few quick guides and how-tos for your 2021 crypto taxes.

➤ Crypto Tax Guide - How Crypto Taxes Work in Canada
➤ How to Integrate NDAX with Koinly to do your crypto taxes
➤ More NDAX crypto tax partners:

Crypto Tax FAQs

How much will I be taxed?
Your personal tax amount will depend on whether your crypto transactions are considered business or capital income. Furthermore, it will depend on the value of your individual cryptocurrencies and the value of your transactions.

Can you pay taxes with cryptocurrency?
No. The CRA does not accept payments made with Bitcoin or other cryptocurrencies.

What are the tax deadlines for 2022?
Taxes can be filed as early as Feb. 28. They are due by April 30.

What if I give or receive a crypto gift?
The CRA has imposed a $500 limit for gifts given via cryptocurrency. The total amount given or received should not exceed $500 annually. Every dollar after this amount will be taxed.

👍 Tips to prevent fraud

You know, imitation is the sincerest form of flattery; however, NDAX is one of a kind.

We’ve become more aware of external parties trying to imitate NDAX with fake websites. To make sure we have you covered, it’s important for you to always DYOR.

To start, we’ve created a few key things to look out for when selecting a legit crypto trading platform.

🧠 Here are a few IIROC recommended tips to spot and prevent fraud:
✔️Always check registration (IIROC AdvisorReport) to check a potential advisor or firm’s registration.
✔️ Always check the dealer’s website. Type the web address into the browser and make sure it is correct.

🚩 What are the red flags?

🚩Never give a firm more money to withdraw your funds.
To fully understand NDAX’s fees, we believe in transparency.
🚩 Never install programs allowing remote access.

Be wary of:
🚩 Cold calls from firms you have had no dealings with.
🚩Anyone claiming you can make “immediate”, “extreme”, or “guaranteed” gains.
🚩An urgent push to invest right away.
🚩Anyone using a personal Gmail, Hotmail or other public email or social account, (registered dealers are not allowed to use personal accounts to do business).
🚩 “Recovery scams” where fraudsters offer to help you get back your money – if you pay them more money!

Read the full article

🟡 Cointelegraph Innovation Circle

We’re thrilled to share that our CEO and Founder, Bilal Hammoud, has been selected as a member of the Cointelegraph Innovation Circle and shares some fantastic insights into the world of crypto, building connections, and more.  

Cointelegraph Innovation Circle is a vetted professional organization of founders, partners, C-suite executives, principal decision makers (VP-level or higher), and experts in the fields of blockchain technology, cryptocurrency, Web3, NFTs, and decentralization in industries such as finance, insurance, gaming, healthcare, and more.

🔗12 qualities to look for when building a crypto network
12 obstacles keeping entrepreneurs out of crypto

📣 Last day to earn 3x the rewards

Today is your last day left to triple your referral bonus! Get up to $75* when you refer a friend to NDAX. Through to the end of March, all NDAX referral bonuses have been boosted 3x.

To earn your referral reward, your friends just have to sign up with your link, fund their NDAX account by March 31st - and they’ll get $10, too!

Hurry, share your unique invite link on social media or directly with friends and stack your referral $$$.

Here’s how:

  1. Copy your unique invite link above, share it with friends on social media or through your favourite messaging app.
  2. Earn up to $75* when your friend registers and funds their account.
  3. Your friend will get $10 too!

Happy trading!

NDAX team

Disclaimer: Cryptocurrency trading involves high market risk. Please take the time to make your trades cautiously and do your own research. NDAX is not responsible for any trading losses.