NovaDAX crypto exchange was established in 2018. It is a Brazilian centralized cryptocurrency exchange. NovaDax managed to become one of the leading crypto trading exchanges in South America. However, over time, the platform has started to seek global exposure. Thus, it now operates in several offices in countries like Switzerland, the US, Brazil, Vietnam, Singapore, Indonesia, and China.
The NovaDAX cryptocurrency exchange has a robust KYC verification protocol integrated into the platform to ensure that all users on the platform are authentic. Overall, NovaDAX is accessible in over 100 countries. However, before you access the platform, it is advisable for you to check your country's restrictions towards crypto trading.
NovaDAX Crypto exchange has two main sections for its markets: crypto-to-crypto and fiat-to-crypto. BTC, USDT, ETH, and BRL markets are the most prominent on the platform. Though note that the only approved fiat currency on the platform is the Brazilian Real (BRL). All trading is carried out on the NovaDAX spot trading option. The platform does not support margin or leveraged trading.
Depending on the NovaDAX trading pairs you choose to trade, or the payment method of your choice, the payment fees may differ. The platform has an option to easily buy and sell crypto while offering a NovaDAX crypto fee of 0.7% per trade. For crypto deposits, there are no NovaDAX exchange fees required. However, for fiat deposits, certain fees are charged.
The withdrawal charges differ based on cryptocurrencies. For example, the NovaDAX crypto price for Bitcoin withdrawals is 0.001BTC while that of ETH is 0.005 ETH.
If you're curious about the NovaDAX volume, you can check it out above.
Apart from trading, the platform offers staking options for its users to earn passive income. Staking rewards can go as high as 20% APR per year.
Besides that, the NovaDAX cryptocurrency exchange has the feature of issuing a prepaid credit card that can be funded with Bitcoin. With this card, you can shop, send money and withdraw fiat from ATMs.
About the Company
The company is headquartered in Sao Paolo, Brazil. It was founded in 2018 and is operated by Novadax Brazil Payments Ltd. When it comes to the team behind the project, the exchange has managed to attract a world-class team of tech experts from tech giants like Amazon, Tencent, and Google.
NovaDax raised $20 million in Series A funding from Abakus Group. The Abakus Group helps the Nova ecosystem to serve more than 600 thousand clients. Abakus is described as a company that is leveraging big data, AI, and machine learning to transform the financial industry, house and office rental, agriculture, chip, robot, and more.
Most of the core team members behind the project are anonymous, but they have continued to develop the project behind the scenes. In January 2023, the 24-hour NovaDAX trade volume ranged around $2.6 million.
In terms of security, the platform employs the latest security measures to protect user funds. So far, there are no reports of any system hacks or intrusions.