Nova Exchange - Standard Cryptocurrency Exchange

[novaexchange]

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/
   

[Rsj91]

Follow

[vampirus]

What about  you delisted your own coin Novapoint that cause lost money of all loyal clients?

[Cernael]

What about  you delist your own coin Novapoint that cause lost money of all loyal clients?

Novapoints was delisted in November, before the official relaunch under new management. If you go to https://novaexchange.com/news/ and search for its ticker, NPOINT, you see it in a post from Nov 22nd.

[Slow death]

What about  you delist your own coin Novapoint that cause lost money of all loyal clients?

Novapoints was delisted in November, before the official relaunch under new management. If you go to https://novaexchange.com/news/ and search for its ticker, NPOINT, you see it in a post from Nov 22nd.

 

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 makes it clear to anyone that who delisted the currency that @vampirus is talking about, was the new owners. I am not aware of the story, but I would like to hear the new owners answer on this subject, later I will do more research to understand this story better

[Timelord2067]

Welcome NovaExchange!

I've tried a couple of times to verify but have been encountering issues.

[Rsj91]

Welcome NovaExchange!

I've tried a couple of times to verify but have been encountering issues.

Send email to support@novaexchange.com with the error message. That's the best way to contact support and get help

[Rsj91]

What about  you delist your own coin Novapoint that cause lost money of all loyal clients?

Novapoints was delisted in November, before the official relaunch under new management. If you go to https://novaexchange.com/news/ and search for its ticker, NPOINT, you see it in a post from Nov 22nd.

 

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 makes it clear to anyone that who delisted the currency that @vampirus is talking about, was the new owners. I am not aware of the story, but I would like to hear the new owners answer on this subject, later I will do more research to understand this story better

Maybe due to regulations and local law! Nova is a regulated exchange and many things changed since relaunch ( New management)

[novaexchange]

What about  you delisted your own coin Novapoint that cause lost money of all loyal clients?

There seems to be some kind of confusion here regarding NPOINT.

First off, there are many coins on Nova Exchange that have "Nova" in their name. These are not affiliated with Nova Exchange.

The coin called "NPOINT" was, during 2016 and 2017, given out freely as a kind of reward point system by the old management of Nova Exchange.
After the shutdown announcement in the fall of 2017 no more NPOINTS was given out and trades on NPOINT markets died down, and prices dipped down to very near zero.

In May of 2018, when the management of Nova was taken over by the Goobit Group, all mentionings of NPOINT had been removed from the site.
NPOINT have never in any way been affiliated to the new Nova Exchange, from May 2018 and onwards.

NPOINT was however still listed on Nova Exchange, just as any other altcoin.
After careful consideration, it was however decided that NPOINT should be delisted, as there was always a risk that customers would believe it had some affiliation with Nova Exchange.
One of the things we did take into consideration while making this decision was the trade volumes of NPOINT. Since May 2018 the trade volumes had averaged less than 12 dollars per day across all NPOINT markets.
The delisting happened in November, before the relaunch on December 3rd.

Nevertheless, we do want to make things right. If there is anyone out there that bought NPOINT in May 2018 or later, and did that thinking that NPOINT was in some way affiliated with Nova Exchange during that time, we urge them to contact our customer support by sending an email (or PM on the bitcoin talk forums).

[novaexchange]

Welcome NovaExchange!

I've tried a couple of times to verify but have been encountering issues.

The best thing to do is to contact our support team via support@novaexchange.com, they will help and assist you with the verification session

[vampirus]

What about  you delisted your own coin Novapoint that cause lost money of all loyal clients?

There seems to be some kind of confusion here regarding NPOINT.

First off, there are many coins on Nova Exchange that have "Nova" in their name. These are not affiliated with Nova Exchange.

The coin called "NPOINT" was, during 2016 and 2017, given out freely as a kind of reward point system by the old management of Nova Exchange.
After the shutdown announcement in the fall of 2017 no more NPOINTS was given out and trades on NPOINT markets died down, and prices dipped down to very near zero.

In May of 2018, when the management of Nova was taken over by the Goobit Group, all mentionings of NPOINT had been removed from the site.
NPOINT have never in any way been affiliated to the new Nova Exchange, from May 2018 and onwards.

NPOINT was however still listed on Nova Exchange, just as any other altcoin.
After careful consideration, it was however decided that NPOINT should be delisted, as there was always a risk that customers would believe it had some affiliation with Nova Exchange.
One of the things we did take into consideration while making this decision was the trade volumes of NPOINT. Since May 2018 the trade volumes had averaged less than 12 dollars per day across all NPOINT markets.
The delisting happened in November, before the relaunch on December 3rd.

Nevertheless, we do want to make things right. If there is anyone out there that bought NPOINT in May 2018 or later, and did that thinking that NPOINT was in some way affiliated with Nova Exchange during that time, we urge them to contact our customer support by sending an email (or PM on the bitcoin talk forums).

Very good position, we take all advantages from old exchange but not take any obligations.

[setlsinok]

Can you remove the nova personal phone and identity verification ? It is ridiculous to verify these.

[___TR___]

Can you remove the nova personal phone and identity verification ? It is ridiculous to verify these.

Best to get used to KYC/AML policies if you want to use a legitimate exchange. Nearly all legit exchanges now, or will soon, require verification.

[Timelord2067]

Can you remove the nova personal phone and identity verification ? It is ridiculous to verify these.

Best to get used to KYC/AML policies if you want to use a legitimate exchange. Nearly all legit exchanges now, or will soon, require verification.

Nova has them, they just don't work properly. 

[novaexchange]

Can you remove the nova personal phone and identity verification ? It is ridiculous to verify these.

Best to get used to KYC/AML policies if you want to use a legitimate exchange. Nearly all legit exchanges now, or will soon, require verification.

Nova has them, they just don't work properly.  

Hmm, our verification works as it's supposed to... We had on occasion some stuck sessions that required us to manually unstuck them (during 2019, 33 users only, 2018 we can not really count as then we were not really operating).
The KYC (we are talking about KYC and not the AML), is split in 2 things:

a: ID verification
b: Address verification

The process (at least ours) in overall looks something like this:
 
PART A ID VERIFICATION
1: A User "X" is verifying himself by starting the verification session through our platform.
2: User is either
 2a. verified -> All good he verified his ID automatically (this takes from 5min to 2 hours)->  jumps to step 5.

 2b. not passed verification -> he is declined and failed the verification.
  2b1. Our compliance officer will check WHY this user was not accepted via the verification system, and will
  2b2. *reset the user's session so the user can try again* or he can manually accept him if everything looks alright. If the user is not accepted, then ->
  2b3 Customer support will contact the user and explain to him what is required to pass the session or will give him some tips that will help him.

4. User will have to try again step 2 until he is approved.

PART B ADDRESS VERIFICATION
5. If the user was approved and has verified his ID, he will then need to fill in the address verification (upload a utility bill).
 5a.verified -> All good he verified his address automatically (this takes from 5min to 2 hours) ->  jumps to step 6.

 5b. not passed address verification -> he is declined and failed the verification.
  5b1. Our compliance officer will check WHY this user was not accepted via the verification system, and will
  5b2. *reset the user's session so the user can try again* or he can manually accept him if everything looks alright. If the user is not accepted, then ->
  5b3 Customer support will contact the user and explain to him what is required to pass the session or will give him some tips that will help him.

6. User is able to withdraw, trade and deposit.

Hope this clarified the issues, but if you have further questions, do not hesitate to ask us, however keep in mind that we will not and can not disclose personal data online, so any questions that you have for your personal account (what is the status of the verification for example), you must send an email to our support team.
 

[sheenshane]

Just share my experienced on Nova exchange when I was selling my token there.

First, very fast of verifying your personal identity such as ID verification.
But I was annoyed on utility bill verification which is I don't have just because the receipt of the utility bill of my parent's named. Good thing my school registration receipt has been acceptable. The last is very impressive to me, they had a quick withdrawal processing.

Kudos to Nova exchange staff.

[Timelord2067]

Hope this clarified the issues, but if you have further questions, do not hesitate to ask us, however keep in mind that we will not and can not disclose personal data online, so any questions that you have for your personal account (what is the status of the verification for example), you must send an email to our support team.
 

That's all good in theory, but out here in the real world I am unable to get your verification program to work.

[Nova Exchange]

Hope this clarified the issues, but if you have further questions, do not hesitate to ask us, however keep in mind that we will not and can not disclose personal data online, so any questions that you have for your personal account (what is the status of the verification for example), you must send an email to our support team.
 

That's all good in theory, but out here in the real world I am unable to get your verification program to work.

Hi, sorry that it took me a while to reply...

Verification should really take not much time - on average, the automatic verification should take less than an hour or 2.... If not, most probably it failed, and the most failing cases are these:

1: You might presented the wrong document
2: or a print of it and not the original
3: or maybe there was a mismatch of the data you have filled on your Nova account and the data you are presenting on the verification (in this case you will need to update the data on Nova to match what you are presenting).

If you still are facing issues though, feel free to drop your Nova username and I will see what has happened and will check if we can verify you manually

Keep in mind, you should never send documents on emails or social media ( we have users sending us their passport with Twitter for example)... This should REALLY NEVER be done, as we are "isolating" the data with a 3rd party service VERIFF for best security.

[Nova Exchange]

Just share my experienced on Nova exchange when I was selling my token there.

First, very fast of verifying your personal identity such as ID verification.
But I was annoyed on utility bill verification which is I don't have just because the receipt of the utility bill of my parent's named. Good thing my school registration receipt has been acceptable. The last is very impressive to me, they had a quick withdrawal processing.

Kudos to Nova exchange staff.

Glad to hear that it went alright and you are accepted buddy

Keep in mind that Nova Exchange will refund on a weekly basis, all trading fees for the whole month of August

Happy trading and best luck to you and everyone

[Timelord2067]

1: You might presented the wrong document

No.

2: or a print of it and not the original

No again.

3: or maybe there was a mismatch of the data you have filled on your Nova account and the data you are presenting on the verification (in this case you will need to update the data on Nova to match what you are presenting).

No yet again.


I am required to use my mobile phone yet when I do so, the VERIFF does not work on my mobile phone.

Because this has taken quite a while already, the "token" is now expired and does not seem to want to issue a new one.