deposit:
- ₿0.0005
Trading platform:
- TradingView
NovaDAX Review 2024
deposit:
- ₿0.0005
Trading platform:
- TradingView
- All popular cryptocurrencies, BRL, quick exchange service, exchange and OTC trading, internal points system with the possibility of reducing commission fees, modern level of data and funds protection
Summary of NovaDAX Crypto Exchange
NovaDAX is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.38 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by NovaDAX clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work. NovaDAX ranks 94 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
The NovaDAX cryptocurrency exchange is widely known in the world market due to its comfortable functionality and large trading volumes. The trading terminal is intuitive; there are several unique solutions. The website works stably, offers a progressive system of discounts and cashback when paying for third-party purchases with a plastic card. The card is linked to an exchange account and can be used in online and offline stores. Low initial deposit, large limits. There is no leverage. The exchange operates officially following Brazilian financial laws.NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
The Brazilian NovaDAX exchange offers a fast exchange service for cryptocurrency-to-cryptocurrency and cryptocurrency-to-fiat exchange and OTC trading. Bitcoin (₿), Ethereum (Ξ), Tether (₮), OMG, EOS, other popular cryptocurrencies, and coins are traded on the site. Among fiats, you can find the Brazilian real (BRL) and euro. They can be used to replenish the account, trade (only BRL), and also exchange them for cryptocurrency. Investment decisions are represented by classic staking. There is a referral program with fixed payments in reals. The platform has implemented innovative proprietary solutions such as Bottrex and Vector, to automate trading and make it safer. The exchange uses the TradingView browser terminal and offers a mobile application. Standard commissions are market average but can be reduced to 0.21%/0.07% for taker/maker due to the point system.
💰 Account currency: | Cryptocurrencies, fiat currencies |
---|---|
🚀 Minimum deposit: | ₿0.0005 |
⚖️ Leverage: | 1:1 |
💱 Spread: | Market |
🔧 Instruments: | Cryptocurrencies, fiat currencies |
💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with NovaDAX:
- a lot of cryptocurrencies and coins;
- it is possible to deposit in fiat in different ways, including bank cards;
- minimum deposit ₿0.0005, fees can be reduced due to the point system.
- there are special discounts and bonuses;
- passive earnings are represented by staking, there is a referral program, API, and bot trading;
- the exchange doesn’t set restrictions on trading strategies, limits on deposits/withdrawals are higher than the market average;
- high level of security, cloud storage, cold storage of users’ funds;
- prompt technical support that operates 24/7.
👎 Disadvantages of NovaDAX:
- no demo accounts, advanced training, or special solutions for novice traders;
- Some services and functions are not available for residents of other countries (not Brazil).
Evaluation of the most influential parameters of NovaDAX
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Expert Review of NovaDAX
The NovaDAX cryptocurrency exchange has been operating since 2018. It is headquartered in Sao Paulo. Brazilian traders popularized the site. After it added the possibility of depositing funds in EUR, the exchange expanded to the whole world. Clients are attracted by the stability and transparency of the platform.
A valid registration number NIRE 35235369291 and license number CNPJ 31.745.082/0001 are issued by the Brazilian Federal Tax Office. During the entire website’s history, there has not been any evidence found of tax evasion, financial fraud, or failure to fulfill obligations to customers.
The cryptocurrency trading terms are generally comfortable. There are most major cryptocurrencies and lots of trading fiat cryptocurrencies with the BRL. There is no leverage, only standard accounts. The exchange is characterized by a high level of security and stability. No technical problems were noticed during the testing of the site.
The website provides various bonuses (including starting bonuses for new users). There is an internal point system that allows you to get a discount on trading commissions. Proprietary plastic cards, which can be used for offline payment and offers cashback points as a percentage of the purchase, can be considered a unique feature of the exchange.
Dynamics of NovaDAX’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Crypto Exchange
NovaDAX allows its clients to passively earn by investing in cryptocurrency. The investment system is presented in a classic staking format with a deposit and annual interest. The website has a regularly updated pool of official partners. These partners need investments to develop their blockchain projects. You also can lend cryptocurrency to its partners, receiving in return interest on the loaned deposit.
Investment programs are divided into two categories: fixed or flexible. If the deposit is fixed, the investor cannot withdraw it before the specified period expires. If the deposit is flexible, the investor can withdraw it at any time, but in this case, the interest payments are reduced.
The second category of programs is daily and long-term programs. Daily programs involve deposits for a day. At the time of the return of the deposit the next day (before noon or after noon) the investor gets the earned interest as well.
Long-term deposits are the most profitable in terms of interest rates. The average rate is 4% per annum. The period of the deposit and the asset differ depending on the program selected. All active programs are available in the "Investments" section of the personal account. It also displays the estimated income, terms of active programs, and other information, as well as options, including an interface for making deposits and withdrawals.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
NovaDAX’s affiliate programs
NovaDAX has implemented a standard referral program with fixed payments. The exchange client can earn money from invited users. To do this, find a referral link in your personal account and publish it on any site. Each user who follows your link and registers on the cryptocurrency exchange will become your referral.
The referral gets10 BRL (Brazilian reals) and brings the same amount to you. To get a referral bonus, the referral has to fulfill one condition: replenish the amount of over 100 BRL within 30 days from the date of registration. The bonus is one-time only, and in the future, the user remains your referral but doesn’t bring you any profit.
The program is single-level, that is, you don’t get bonuses for users who were invited by your referrals. Only verified users who have confirmed their data can participate in the program. No further action is required.
Trading Conditions for NovaDAX Users
To start trading on the NovaDAX exchange, go through the registration procedure, and then the verification procedure (confirm the data entered). This is necessary to protect against bots, fake accounts, and scammers. Further, you will have access to full functionality, but you will not be able to trade until you deposit the amount of ₿0.0005 or more. After depositing, you may trade any positions at your discretion. The exchange doesn’t set any restrictions, but there is no leverage on the website, that is, you can trade only with personal funds. Technical support is provided by the ticket system in the "Support Center'' section. You will get the answers by email. Despite there being no call center, technical support works quickly and is highly appreciated by customers.
₿0.0005
Minimum
deposit
1:1
Leverage
24/7
Support
💻 Trading platform: | In browser - TradingView |
---|---|
📊 Accounts: | Standard |
💰 Account currency: | Cryptocurrencies, fiat currencies |
💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
🚀 Minimum deposit: | ₿0.0005 |
⚖️ Leverage: | 1:1 |
💼 PAMM-accounts: | No |
📈️ Min Order: | From 0 |
💱 Spread: | Market |
🔧 Instruments: | Cryptocurrencies, fiat currencies |
💹 Margin Call / Stop Out: | No |
🏛 Liquidity provider: | No |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | n/a |
⭐ Trading features: | All popular cryptocurrencies, BRL, quick exchange service, exchange and OTC trading, internal points system with the possibility of reducing commission fees, modern level of data and funds protection |
🎁 Contests and bonuses: | There are bonuses (welcome, rebates, and trading volumes) |
Broker comparison table of trading instruments
NovaDAX | Bybit | OKX | XT.com | Poloniex | Bithumb | |
Forex | No | No | No | No | No | No |
Metalls | No | No | No | No | No | No |
Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
CFD | No | No | No | No | No | No |
Indexes | No | No | No | No | No | No |
Stock | No | No | No | No | No | No |
ETF | No | No | No | No | No | No |
Options | No | No | No | No | No | No |
NovaDAX Commissions & Fees
Points are awarded for all trading operations in crypto-to-crypto and crypto-to-fiat pairs at the rate of 1 BRL = 1 point. The card brings in points at 10% of the amount of the purchase paid. The novice user gets 3,000 points as a welcome bonus after registration and verification.
Commissions depends on points, as follows:
-
0-2,999 points – 0.5%/0.3% for taker/maker;
-
3,000-9,999 points – 0.4%/0.2% for taker/maker;
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10,000-4,999,999 points - 0.3%/0.1% for taker/maker;
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from 5,000,000 points - 0.21%/0.07% for taker/maker.
Please note that only points accumulated in the last 30 days shall be taken into account. Increasing the client's status with points also provides a discount for the exchange service and reduces the commission for withdrawing funds.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | up to 0.5% per application | Yes |
Withdrawal commissions and limits depend on the asset, points accumulated, and on the chosen method of account verification. For example, you cannot withdraw less than ₿0.001, and the maximum limit is determined by simple or advanced verification (it is increased to ₿10 in 24 hours for advanced one). Please note that fees and limits may vary for institutional accounts. Also, they may differ for residents of different countries (read more in the "Fees and limits” section).
Broker | Average commission | Level |
NovaDAX | $0.5 | Medium |
Bybit | $20 | High |
Bitfinex | $0.1 | Low |
Contacts
Foundation date | 2018 |
Registration address | Avenida Paulista, 1842, Torre Norte Conj 155 Sala 10 - CEP 01310-945 - São Paulo |
Official site | http://www.novadax.com.br/ |
Contacts |
Email:
encarregado.lgpd@novadax.com,
|
Read also about other cryptocurrency exchanges:
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FAQs
Do reviews by traders influence the NovaDAX rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about NovaDAX you need to go to the broker's profile.
How to leave a review about NovaDAX on the Traders Union website?
To leave a review about NovaDAX, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about NovaDAX on a non-Traders Union client?
Anyone can leave feedback about NovaDAX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.