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Nexchange Review - is it scam or safe?

Nexchange Review - is nexchange.io scam or good cryptocurrency exchange?

RATING: 3.1 / 7 REVIEWS Nexchange

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 0.5%

 

Nexchange is a relatively new automated anonymous cryptocurrency exchange registered in the UK. The platform allows the exchanging of a cryptocurrency for another or buy a cryptocurrency for, GBP, USD or EUR. For whatever reason, at the time of writing this review, buying crypto for GBP was not available. The available coins are ETH, LTC, BTC, XVG, DOGE, BCH, OMG, BDG, EOS. Most of them, except the last two, can be bought for fiat, while all of them can be exchanged for each other.

 

 

Nexchange advantages

 

- Anonymity. Nexchange offers a fully anonymous service and does not require any user personal information. Usually the exchanges whose offers include fiat currencies require user identification, due to AML/KYC policies. Even better, Nexchange does not even require their clients to sign up or provide an e-mail address.

 

- Convenient Payments. Nexchange accepts fiat payments with credit cards – Visa, MasterCard and American Express and 3D security-enabled Maestro debit cards.

 

>> See crypto exchanges accepting credit cards <<

 

- Low Fees. The Nexchange trading fee between cryptocurrencies of 0.5% is quite low, compared to other exchanges. Besides, it is the only fee and there are no hidden charges.

 

- Good Speed. Nexchange claims to offer a speedy service, with transactions taking between 1 and 60 minutes. However, there may be delays, depending on the load of the respective blockchains.

 

- Simple Platform. Nexchange’s exchange interface is simple and intuitive and even a complete novice can figure it out. We also like the order history below the buy and sell section. Considering the goal is to have a quick and easy transaction, the platform of Nexchange gets the job done.

 

 

- Lots of Coins. Nexchange has a fairly good selection of cryptocurrencies on offer and promises to include more with time.

 

- Security. Nexchange does not store any client funds, so the security is entirely up to the clients.

 

- Positive Feedback. It seems that Nexchange’s clients are fairly happy with the service provided by the exchange, despite occasional delays.

 

 

Nexchange disadvantages

 

- Credit card fee. Nexchange charges a 7% fee on buying cryptocurrencies with a credit card. It is quite high, in fact higher than that of Coinbase, but one does not need to go through a verification process. Convenience and anonymity come at a price. Besides, the 7% fee is clearly stated upon ordering.

 

- Minimum trading requirements. There are minimum limits when trading fiat currency for a cryptocurrency. When buying BTC for EUR or USD, for example, the minimum sum is EUR or USD 500. There is a minimum requirement for most cryptocurrencies that can be bought with fiat. Many other exchanges have minimum deposit requirements, but usually they are much lower.

 

- Cancellations not possible. Nexchange does not allow the canceling of transactions, which can be quite inconvenient in case the client has messed up with the wallet address, for example.

 

- No Wallet. Nexchange does not offer own wallet. Instead, a client must choose their own – for incoming and outgoing transactions.

 

- No Mobile app. Nexchange does not offer a mobile application about trading and we have not come across plans to launch one.

 

- Countries. We could not find information on which countries Nexchange is available in, but it seems that it is available at least in the EU.

 

- No Leverage. As most cryptocurrency exchanges, Nexchange does not offer leveraged trading on cryptocurrencies. Those who wish only to speculate on cryptocurrency prices, would do better to open an account with a regulated forex broker who offers CFDs with cryptocurrencies as an underlying asset.

 

 >> See our list of regulated bitcoin forex brokers <<

 

Conclusion

 

We actually quite like Nexchange, despite the high minimum fiat deposit requirement and the hefty credit card fee. What we like best is the fact that one does not need to sign up and provide personal information in order to use the exchange. The trading fee of just 0.5% is also quite attractive.

 

 

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Traders` reviews for Nexchange

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Be aware

Please be aware of a this scam to try get your credit card details and in result I haven't seen a crypto in 1 month!!!!!! I didn't get any refund!!!!!!
SCAM ALLERT

Mirta 06/14/2019

Scam alert

I have paid but did'nt get anything from their side!
STAY AWAY FROM THIS SCAM WEBSITE

Ostap Bender 06/13/2019

I paid twice may 9 2019 and May 19 2019 N.Exchange ripped me off

Let me start out with ive had many transactions with Nexchange but two i have not been compensated for a 68.00 dollar transaction feom my visa to N.exchange for BTC which when they sent the BTC they sent it back to thete own wallet which i can prove i showed the proof to N.Exchange amd was. Told 24 hours it would be taken care of which it still hasnt its now june 1st 2019 then on may 19 2019 they charge my visa for 112.00 as the transaction took place it said give 15 min and you will receive your BTC well 30 miniutes went by ans i contacted support as was stated from the employee he said that he didnt know what happened and he was sorry for the inconvenience and he was turning a ticket into IT well i can prove these things i say about these two transactions with 100% without a doubt proof for the 68.00 the address that BTC was sent to was the address that they gave me 110 dollars worth of BTC in the transaction before as we all know we cant own the same BTC wallet address and i showed them this proof as i feel i was blown off and told that IT would contact me which has never happened i sent numerous emails asking about what was going on to not get one response back only time i could get any type of info was to go the N.Exchanges Website and talk to support which i was just always told 24Hrs or tganks for the info and they would get it fixed now the 112.00 dollars they charged my visa on may 19 2019 that i have not recived. my BTC i have the chat conversation of there employee saying he didint know what happened and that A problem ticket was created for IT and it would be taken care of i had went to n.exchamges website and asked about progress almost everyday then roughly 8 days later i was told there having maintenance on there sytem and couldnt verify what i was telling them ok fine i wait again as i see there crypto isnt moving business is down well now business is back on there selling and trading but what do you know no one is taking care of what they owe me there customer they talk about core valued in who they are im wondering what values they have taken 180.00 US dollars from me and not gave me my BTC for that money as they charge a premium for there service N.Exchange has ripped me off i can prove all of this 100% without a doubt there system makes a mistake and i have been paying for it as all my time going and chatting with there support to keep up with whats going on has costed me hours upon hours this company should not be in business at all there making thousand off of my money and many others in the same situation i gues in going to the UK and starting there about how they have taken my money and have not supplied the product i paid for STAY AWAY FROM N.EXCHANGE

David Davis 06/02/2019

N exchange

They should be arrested

Vhan 05/28/2019

SPAM website

scam website..they cheat your money and dont delivery bitcoins...

kamesh 05/23/2019

Scam, be carerfull Everyone!

This is pure SCAM. I have been waiting for my coins for more than a MONTH NOW!!!!!!!!!

No one is replying to me in live CHAT or EMAIL or PHONE call. SCAM!!!!!!!!!

Brian Nelson 02/11/2019

Total scam - stole close to $5000 USD

Total and utter scam site.

Oleg, the owner, pays for fake reviews around the internet to promote this "deposit and lose your money" scam exchange.

BEWARE!!!

John Rodgers 07/30/2018
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