US investors permitted
NovaExchange – Detailed 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 NovaExchange consists of four parts: general information, fees, deposit methods and security.
NovaExchange 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.
NovaExchange doesn’t charge different fees between the takers and the makers. Their fee model is instead something called a “flat fee model”. NovaExchange’s flat trading fee is set at 0.20%. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. 0.20% is also in line with the industry average (the industry average is arguably around 0.25%).
We have not been able to find NovaExchange’s withdrawal fees. On its website, the exchange states that:
“There is a small transaction fee that is required by the blockchain network – varies from coin to coin, in order for the transaction to happen.”
This is potentially a risk for you as an investor. If the exchange does not inform you about the exact amount of the withdrawal fees, it is simply a higher likelyhood that the withdrawal fees are high. Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at this exchange before depositing any funds here and before concluding that it is the best cryptocurrency exchange site for you.
NovaExchange does not accept any other deposit method than cryptocurrencies, so new crypto investors can’t actually trade at NovaExchange. If you don’t have any crypto but want to start trading at this exchange, you will first have to purchase the needed cryptocurrencies from another exchange and then, as a second step, deposit them at here. To find another exchange where you can purchase cryptocurrency for fiat currency, use our Exchange Finder and we’ll guide you through it.
NovaExchange’s security score is B-, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is far above average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.