US investors permitted
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 Neraex consists of four parts: general information, fees, deposit methods and security.
Neraex is a Japanese coin exchange that offers trading in the biggest cryptocurrencies today. Neraex launched in January 2017 and is owned by Bobao Technology Co. Ltd.
Another popular Japanese cryptocurrency exchange, thus being a home turf competitor for Neraex, is Bitbank.
This trading venue does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Neraex Trading fees
The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The exchange’s flat fee is 0.05%. This fee is very low, both from a domestic and international perspective.
Neraex Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees, when you have no choice but to pay the fee to get your money. This trading platform’s withdrawal fees aren’t that bad, but they are actually above industry average. They charge 0.02 BTC when you withdraw BTC.
Neraex offers wire transfer as a deposit method, but you can’t deposit via credit card.
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. This trading platform only scored an F in this test. This is as you might imagine far below industry average and not a competitive advantage at all.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):