Nova Exchange has a long and complicated story. Founded in 2012, in Sweden, the exchange became famous for being home to a range of various tokens - it used to support trading in over 400 coins, including very rare ones.

In 2016, it was hacked. However, the details of this attack were not confirmed and users did not claim to lose their money. In October 2017, Nova decided to close down and asked all traders to withdraw their funds. This shutdown was caused by the change of owners, and the exchange was supposed to finally close and remove all users' data in April 2018.

Apparently, in February 2018, the new management announced that Nova will be relaunched. The team behind it is anonymous (a red flag for us), and so far even though Nova supports over 160 coins, the liquidity ranges between extremely low to nonexistent.

Standard fees of 0.2% apply for all the transactions. Due to its troublesome past, along with the hack, we would not trust nova's security measures until we are provided with a thorough and convincing explanation of its threat-reducing processes and systems.

Until then, Nova Exchange does very little to compete in the crowded crypto exchange space and offers no edge over its competitors.

William Bartlett

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