UPDATE 27 December 2020: We are not able to access this exchange. When trying to visit their website (ovis.com.tr), we receive the following error message:
Accordingly, we have marked this exchange as dead in our database and moved it to our Exchange Graveyard.
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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 Ovis consists of four parts: general information, fees, deposit methods and security.
Ovis is a Turkish cryptocurrency exchange. Turkey has a surprisingly large number of cryptocurrency exchanges. Bithesap is one of them, but there are many many more.
Ovis does not explicitly state that US-investors are prohibited from trading. A reasonable assumption is therefore that they can trade here. Any US-investor should in any event form their own opinion on what impacts any cryptocurrency trading here would result in.
This exchange launched in October 2017 and has demonstrated a decreasing liquidity since then. At the date of first writing this review (2 October 2018), Ovis had place 97 on Coinmarketcap's list with respect to exchanges’ size of 24 hour trading volume with a 24 hour trading volume of only USD 2.5 million. On 19 July 2019, the 24 hour trading volume had decreased to only USD 1.6 million. On the date of last updating this review (23 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume had dropped even lower to 1.35 million. The limited liquidity could be a very troubling factor for any investor looking to make a bigger trade at Ovis.
The platform also has a referral program. Through the referral program, you receive 25% of all trading fees that the exchange makes from the trading of any of your referred persons. This seems quite straight-forward and can definitely be a beneficial feature of this exchange.
Ovis 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. Unfortunately, we have not been able to create an account with Ovis and we have therefore not been able to obtain a picture of the trading view here either.
As illustrated by the below picture, the support at this exchange is allegedly open 24/7 to the benefit of its users.
Ovis Trading fees
This exchange offers a flat trading fee of 0.20%. Accordingly, it does not distinguish between takers and makers. 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 global industry average.
In the domestic perspective, looking only at Turkish cryptocurrency exchanges, Ovis’ trading fees are below the industry average. Out of the 9 Turkish cryptocurrency exchanges, the average taker trading fee is 0.27%.
Ovis Withdrawal fees
We have not been able to find any information on this exchange’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. Accordingly, we strongly urge you to make your own analysis of the withdrawal fees here before depositing any funds here and before concluding that it is the best cryptocurrency exchange site for you.
This exchange 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):