UPDATE 17 March 2020: This exchange's website seems to have been hacked and taken over by someone else. When visiting the exchange, you see the below text and links:
Accordingly, we have marked it as "dead" and moved it to our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
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.
On the date of last updating this review (18 July 2019), the 24 hour trading volume at this exchange was USD 4.7 million, with trading in the trading pairs BTC/USD accounting for almost 93% of the total amount. This liquidity definitely has room for improvement.
Neraex 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. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Neraex:
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 0.50%. This fee is roughly double what the global industry average is (arguably around 0.25%, although it’s becoming lower and lower).
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 are quite high. They charge 0.002 BTC when you withdraw BTC. The global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal, so compared to that the fees that this exchange charges is approx. 150% higher than average.
Neraex offers wire transfer as a deposit method, but you can’t deposit via credit card.
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 cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):