https://bitcointalk.org/index.php?topic=5164576.new#new (Official Thread)
Nova's history, and a gift for our friends!
Dear Nova Exchange friends,
We hope you will find this email interesting. We will try to describe our history as an exchange, where we are standing right now, and where we are heading. At the end of this email, we will also provide a gift to all of you who has shown great support for our exchange.
Nova has been operating since 2016.
In the fall of 2017 Nova exploded in popularity and went from spot 200+ on CoinmarketCap to #46. However, with great power, comes great responsibility.
The previous Nova team was quite small, and lacking the resources to keep up with compliance issues. The owner at the time was also worried about getting hacked. They decided to shut down the exchange in a controlled fashion. This shut-down was announced in December 2017.
Noticing the potential, the present owner, Goobit Group AB decided to acquire Nova Exchange. Goobit Group is Swedish, and so are most of the staff, although Goobit has staff all over the globe.
Goobit AB officially took ownership of Nova Exchange in May 2018, and the exchange was relaunched on 3 December 2018.
Since then, progress has been moving steadily, as we aim first and foremost for customer security, compliance and scalability. This is how we differ from other exchanges:
1. Nova has a custom built accounting system, which took quite some time to build. This system is up to Stock Exchange standards.
2. Nova has a balance surveillance team operating around the clock, every day of the year. Combined with the accounting, this means that your funds are safe.
3. All users have gone through a KYC (Know Your Customer) process. This keeps Nova compliant with rules and procedures, and protects both Nova and our customers from scammers, pumpers and dumpers, and other malicious threats. We want clean and healthy trading. Our goal is to provide a platform for just that, not only now, but also in the long run.
4. All coins that are listed are running on separate servers. This means that if one coin is malicious the worst outcome is that we will lose some of the funds for that single coin. We've seen that many exchanges have lost balance of many coins due to not following this procedure. This is not a risk for the Nova platform. Our top priority is always security.
5. Another common risk factor is Ether, and coins based on the Ethereum ecosystem. As much as we love Ethereum and find it an innovative project, with smart contracts and many other innovate features, it is difficult to work with.
Many attacks on exchanges have been through Ether based coins. To improve security, Nova decided to delist all Ether based coins last fall and have spent most of last year rewriting our Ethereum integration. This work is soon to be completed, and we hope to once again be a home to Ethereum based coins within a few months.
6. Nova stores 97% of all funds in cold storage, and on top of that, there is a dedicated team that moves funds when necessary. This way, if Nova would ever be compromised, an attacker will never be able to steal more than a few percent of all funds.
7. Nova is located in Sweden, a member of the European Union. Legislation protecting the consumer is tough here so all traders enjoy exceptionally high consumer protection.
8. Goobit Group, the owner of Nova exchange, also own and operate multiple other crypto enterprises. Our flagship product is BTCX (bt.cx). BTCX have been providing Europeans a quick and easy way to buy and sell Bitcoin since the beginning of 2012. We believe we are one of the most experienced crypto companies currently in business.
9. The world of crypto has been somewhat of a "Wild West" where funds can go missing without consequences. This will eventually attract lawmakers, and regulations will follow. Our insight into how other exchanges operate makes us convinced that most major exchanges will have problems adapting. We strive to be compliant right from the start. This means KYC processes and verifications, but also legal and technical due diligence of the coins we list.
This is our story, and we are grateful to be standing where we are standing today, being able to offer a great service to both friends and traders.
We believe that the season of alt-coins will be around the corner which is why we want to make it even easier to trade. Nova Exchange, on behalf of Goobit Group AB, is going to refund 100% of all trading fees until the last day of August. Every Monday, starting from the 22nd of July, all through August 2019, we will refund the last weeks trading fees.
That is, effectively, 0% trading fee for all our friends out there.
Regards
Goobit Group
http://www.goobit.se/https://bt.cx/https://novaexchange.com/
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