UPDATE 1 September 2020: This exchange has closed down. They made the following statement in conjunction with their closure:
"De Nederlandsche Bank demanded that every cryptocurrency business should register with them. The registration is deemed to be mandatory, and businesses that failed to comply will be forced to close down operations in the country, the fees charged in the whole process are very expensive. The cost of providing the required level of security, support and technology is not economically feasible on our own."
Accordingly, we have moved this exchange 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 NLexch consists of four parts: general information, fees, deposit methods and security.
NLexch is a Dutch cryptocurrency exchange. Like Poland, Netherlands is also a very strong country when it comes to the number of cryptocurrency exchanges operating here. We have a dozen Dutch cryptocurrency exchanges listed in our cryptocurrency exchange list. The list includes, but is in no way limited to, the following: Litebit, Bitonic, Bitrush, Bitex, Deribit, Happycoins Exchange and Nocks.
This exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
NLexch promotes certain advantages with its trading platform on its website. All of the six advantages promoted are things that every cryptocurrency exchange worth anything has. None of the advantages are especially remarkable. Moreover, the “minimal fees” and “high liquidity” ones are actually untrue. The withdrawal fee this platform charges for BTC-withdrawals is four times higher than industry average. And as for liquidity, on the day of last updating this review (18 July 2019), the trading volume was 0. Not a single trade had been executed. To then list “high liquidity” as an advantage with this exchange is nothing short of fraudulent.
NLexch 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 NLexch:
NLexch Trading fees
This trading venue has a flat fee model amounting to only 0.10% (lowered from 1 February). This means that regardless of whether you are a taker or a maker in an executed order, you will be charged 0.10% (with no customary discount for makers).
0.10% is definitely a competitive advantage against many of the other cryptocurrency exchanges out there today. Generally speaking, the global industry average trading fee is 0.25%. So from that perspective, this exchange has a 60% lower trading fee than industry average.
NLexch Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.002 BTC when you withdraw BTC. This does however include the network fee (meaning the fee charged by the relevant cryptocurrency network to process the transaction). The global industry average, however, is only 0.000812 BTC for BTC-withdrawals (including the network fees), so the withdrawal fee here is substantially above the industry average. It’s actually roughly 150% higher than the industry average.
One could argue that these fees are insignificant anyway, as 0.002 BTC on the last day of updating this review (23 March 2020, right in the middle of the crisis with COVID-19) corresponded to approx. USD 12.23. We’ll let you decide for yourself (but we don't think so).
NLexch does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at NLexch. If you don’t have any crypto but want to start trading at this exchange, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. Use our Exchange Finder to find out where you can purchase your first cryptocurrencies!
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: