Novaexchange is a cryptocurrency exchange launched in 2016. Find out everything you need to know about this Sweden-based exchange today in our review.
What Is Novaexchange?
Novaexchange is a Sweden-based cryptocurrency exchange that initially offered three base currencies when it launched in 2016 (BTC, LTC, and ARI). Today, the exchange offers a wide range of currencies, fast deposits and withdrawals, and a growing userbase.
Novaexchange is best-known as an exchange where you can trade coins you won’t find anywhere else. At the time of writing, the most popular pairs by 24 hour trading volume included ATCC/BTC, BDL/BTC, BCC/BTC, and FAL/BTC. Novaexchange has also resurrected dead coins in the past.
This past week, Novaexchange made headlines for finally adding support for Ethereum. Previously, most Novaexchange pairs were traded with BTC. ERC20 token support is in development.
You can also pay Novaexchange a fee (1 BTC) to list your own digital token on the exchange. The developer will scan your coin for viruses and malware, or anything else that could disrupt the exchange, and then your coin will be listed and available for trade.
Let’s take a closer look at the features offered by Novaexchange.
Novaexchange advertises all of the following features:
- Based and operated in Sweden
- Fast deposits and withdrawals
- Trade new coins that aren’t listed anywhere else
- Trade old coins (even dead coins that have been resurrected) you won’t find anywhere else)
- Links to the source of each wallet, with provided addnodes
- Dice game where you can gamble your coins for higher earnings
- Pay to list your own coin on the exchange (1 BTC fee)
- Backed by a strong developer with frequent updates
- Start trading within minutes
The core benefit of Novaexchange is that you can trade coins you won’t find anywhere else. At the time of writing, some of the most-traded coins in the past 24 hours included ATC Coin (ATCC), Bitdeal (BDL), BitConnect (BCC), Falcoin (FAL), Virta Unique Coin (VUC), E-coin (ECN), Espers (ESP), OperaCoin (OCN), and Mooncoin (MOON).
Novaexchange lists and delists coins frequently. In 2017, for example, Novaexchange delisted Acespro (ACPR), Aiden (ADN), Bitcoinfast (BCF), Blackstar (BSTAR), Dinocoin (DNC), and Kingcoin (KING), among many others.
Novaexchange delists coins when they have no connection to a wallet or no active network (say, if the last block was multiple months ago).
One of the best parts about Novaexchange is its transparency with updates. The Novaexchange “News” page posts regular updates on the status of the exchange, including any changes made with coins across the network.
If you wish to add a coin, you can visit the Novaexchange “Addcoin” page, where you can vote on which coins you wish to be added to the network. Each user gets one free vote every day, and votes reset at the end of each day. any additional votes cost 10 NPOINT. You can purchase NPOINTS using BTC.
Novaexchange Registration And Verification
Setting up an account with Novaexchange is free. You choose your login, then enter your password and email address. All you need to do to activate your account is to verify your email address.
Once your account is activated, you can deposit funds from your wallet into the platform to start trading. Choose your desired cryptocurrency from the list of active currencies, then complete the transfer process.
At the moment, Novaexchange only supports cryptocurrency deposits. Novaexchange does not accept traditional deposit methods from banks or credit cards.
Setting up an account with Novaexchange is free. Since Novaexchange doesn’t accept credit cards or bank transfers, there are also few fees involved with the platform overall.
However, Novaexchange does charge a commission on each transaction performed on the platform. That commission varies between currencies. Commission never exceeds 0.2%.
The only other major fee with Novaexchange is to list a new coin. If you made a new coin and want to list it, then Novaexchange has a Pay to List service. Currently, the platform charges a setup fee of 1 BTC along with a yearly fee of 0.25 BTC. The yearly fee is waived for coins that have a trading volume of at least 0.2 BTC over a 3 week period.
Novaexchange is a cryptocurrency exchange that lists any coin – provided it meets certain malware and Trojan checks. You can pay Novaexchange to list your coin, then begin trading it for BTC. It’s a lightweight exchange that comes with virtually no verification requirements – just an email address. You can only deposit or withdraw money using cryptocurrency.
The exchange is also known for being home to cryptocurrencies you won’t find being traded on any other exchange. And, Novaexchange just started to accept ETH in July 2017 after exclusively accepting BTC for months.
To learn more about Novaexchange, or to start trading lesser-known cryptocurrencies today, visit Novaexchange.com.