UPDATE 30 March 2020: There has for a long time been scam accusations surrounding this exchange. The most widely reported one cvan be found here: https://cointelegraph.com/news/brazilian-btc-exchange-faces-numerous-lawsuits-from-clients-unable-to-access-funds. The exchange is still up and running and we have decided to not yet mark it as "dead" in our database. We do however urge any interested users to be careful when dealing with this exchange.
UPDATE 27 December 2020: It is no longer possible to access this exchange. Accordingly, we have marked the exchange as a scam in our database and moved it to our Exchange Graveyard.
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Negocie Coins Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Negocie Coins consists of four parts: general information, fees, deposit methods and security.
Negocie Coins is one of the many Brazilian cryptocurrency exchanges. It is registered with the company number CNPJ 20.692.244 / 0001-90, and has its main office in Alameda Doutor Carlos de Carvalho, 417, in Curitiba. The owner of this exchange is Grupo Bitcoin Banco (“GBB”). GBB also owns the exchange TEM BTC, in addition to Negocie Coins.
In our exchange list, we have a number of other Brazilian cryptocurrency exchanges. The list includes – in addition to Negocie Coins – NovaDAX, BitcoinTrade, MercadoBitcoin, BitcoinToYou, Braziliex, Foxbit and FlowBTC.
Negocie Coins main ambitions are liquidity in all trades and quick and helpful support. Their core values are trust, innovation, transparency, technical pioneering, customer focus and engagement. As reasons to why you should choose this particular trading platform, they say that you will be able to buy bitcoins, sell bitcoins, and that it is secure with SSL encryption etc.
They also have one of the toughest logos the cryptocurrency world has ever seen. Look at it:
On the date of last updating this review (30 March 2020, right in the middle of the crisis with COVID-19), neither Coinmarketcap nor Coingecko had any information on the 24 hour trading volume of this exchange. This is a big red flag.
Although US-investors are not explicitly prohibited from trading at Negocie Coins, the exchange has a trading model that still makes the exchange inaccessible to US-investors. It actually makes the exchange inaccessible to all investors other than Brazilians. This is because they only support trading against the local currency BRL (Brazilian Real). They don’t even support coin-to-coin trading (which can be argued to be the essence of cryptocurrency trading).
So if you are a non-Brazilian investor (or a Brazilian investor looking to trade coin-to-coin), you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges. Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Negocie Coins Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. As we have not been able to open an account here, we have not been able to obtain a picture of the trading view either. We apologize for any inconvenience this may cause. Here’s however a picture of the exchange’s order book and trade history:
Negocie Coins Fees
Negocie Coins Trading fees
We are not sure about the trading fees charged by this exchange. To our understanding, the exchange does not charge any fees for trading. However, instead of having trading fees they have painfully high deposit fees (see below). So, sure, trading fees are low, but they make up for it by the deposit fees.
Negocie Coins Deposit fees
Most exchanges charges deposit fees when you deposit via bank transfer or credit card. This is to cover the fees that the exchanges themselves normally have to pay to banks and credit card providers, so it makes sense. It is a firm market standard, however, to never charge any fees when the user wants to deposit cryptocurrencies. Negocie Coins, however, does not follow the market standard in this regard. They charge 1.70% for depositing Bitcoin. This is ridiculously expensive. Steer clear of this exchange!
Negocie Coins Withdrawal fees
Negocie Coins charges a withdrawal fee amounting to 0.0005 when you withdraw BTC. This fee is below the industry average and thus constitutes an advantage against many other top crypto exchanges in the market.
This trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason. More importantly, however, is that this exchange does not support deposits of cryptocurrencies, which is quite unusual. So in order to start trading here, you need to deposit the fiat currency BRL.
The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the crypto market with fiat currency. There are many entry-level exchanges out there, including (but not limited to):