SagaCoins can be traded on Nova Exchange since July 2019. A reason for us to give you an overview of Nova Exchange – which is operating since 2016.
In the fall of 2017 Nova Exchange exploded in popularity when it became the 46th biggest Exchange on CoinMarketCap. Compliance issues were one of the reasons why the former owner decided in December 2017 to shut down the exchange in a controlled fashion.
The Swedish Goobit Group AB decided then to acquire Nova Exchange and officially took over the ownership in May 2018. In December 2018 the Exchange relaunched under the new ownership. The new Owner focusses on stability , security, compliance and scalability.
This is how they differ from other exchanges:
- Nova has a custom built accounting system, which took quite some time to build. This system is up to Stock Exchange standards.
- 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.
- All users have gone through a KYC (Know Your Customer) process. This keeps Nova compliant with rules and procedures, and protects both Nova and the customers from scammers, pumpers and dumpers, and other malicious threats. Nova Exchange wants clean and healthy trading with thegoal to provide a platform for just that, not only now, but also in the long run.
- All coins that are listed are running on separate servers. This means that if one coin is malicious the worst outcome is that the funds for just that single coin is lost. 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.
- Another common risk factor is Ether, and coins based on the Ethereum ecosystem. 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 Ethereum integration. This work is soon to be completed.
- 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.
- Nova is located in Sweden, a member of the European Union. Legislation protecting the consumer is tough there so all traders enjoy exceptionally high consumer protection.
- Goobit Group, the owner of Nova exchange, also own and operate multiple other crypto enterprises. Their 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.
- The world of crypto has been a bit of a “Wild West” where funds can go missing without consequences. This will eventually attract lawmakers, and regulations will follow. Nova Exchange insight into how other exchanges operate makes them convinced that most major exchanges will have problems adapting. Nova Exchange strives to be compliant right from the start. This means KYC processes and verifications, but also legal and technical due diligence of the coins.
All together from SagaCoins team members view a success story so far based on solid work and a good concept.
Many Coins that were affected from the Cryptopia hack – now can be found at Nova Exchange. Nova Exchange was so kind not to charge any listing fee for these coins…
How to buy SagaCoins on Nova Exchange?
Buying or selling SagaCoins at Nova Exchange is quite easy.
- Signing up at Nova Exchange only takes some minutes
- Once you are verified – trading can start right away
Please follow these recommendations (valid for any exchange)
- Please do not share your credentials with anyone
- We also recommend to setup 2FA (2 factor authentication)
- Only keep the coins as long as necessary in your exchange wallet
(to minimize the risk of being hacked)
To trade SagaCoins Nova Exchange is currently the preferred Exchange.