Launched in October 2018, NovaDAX is a cryptocurrency exchange platform based in Brazil. This platform supports fiat-crypto pairs as well as crypto-crypto pairs. This company is a member of the BAC (Brazilian Association of Cryptoeconomics) and co-founder of the self-regulatory code of the country’s crypto industry.
On this platform, you will find more than 20 cryptos and more than 70 pairs available to trade, as well as complete trading tools, with the capacity to serve investors of all levels, including professionals. Also, you can use it to make deposits and withdrawals in BTC as well as other cryptos.
Also, they offer a prepaid card to make purchases directly with crypto. With the NovaDAX Card you can make any type of payment directly with the currencies you have in your account. You can use in any ATM to exchange your crypto in fiat money directly, also you can use this card in sites and stores that don’t accept cryptos.
Although this platform is only available to Brazilians, its trading volume is good. The total volume of trading on the platform at the time of writing this article has reached $ 20 million. Though, it is a limited value compared to other trading giants, it is still good; Since the platform requires all its users to provide (Brazilian Tax ID number), it only accepts Brazilians and if you are not Brazilian, you will not be able to access the services it provides; Therefore, we recommend that you learn about other exchanges platforms we recommend for you on our site!
This platform conducts transactions between two peers (P2P). So you will not buy cryptos directly from the platform, but you will get them from a seller at the market price or slightly lower according to the terms of the offer. There are no restrictions on accounts; as a buyer can be a seller and vice versa as well. The trading fee for each transaction is 0.25% that is deducted from the value of the transaction. It is noticeable that these fees are higher than other platforms. Deposits can be made in Brazilian reals only, and the platform supports bank transfers and bank cards as well.