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Nanu Exchange Review - is it scam or safe?

Nanu Exchange Review - is nanu.exchange scam or good cryptocurrency exchange?

RATING: 2 / 1 REVIEWS ForexBrokerz Nanu Exchange
Nanu Exchange is not regulated. We cannot guarantee your money is safe.

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Trading Accounts & Conditions

 

Account type Leverage Maker Fee Taker Fee Withdrawal Fee
Standard 1:1 0.15% 0.25% BRL / 0.0015 BTC

 

Nanu Exchange is a comparatively small Brazilian cryptocurrency exchange that focuses on trading in NanuCoin (NNC). It also works with fiat (BRL), but is not exactly an entry-level service, as coin-to-coin trading is also enabled.

 

As is usually the case with crypto exchanges, ID verification is required from those users who with to deposit or withdraw in fiat.

 

Nanu Exchange Advantages

 

Trading against Brazilian Real

Nanu Exchange has several base currencies, and the local currency (BRL) is one of them. This is an obvious advantage for local investors, as they can dierectly change cash for ctypto or vice versa.

 

Brazilian bank transfers supported

Being able to deposit and withdraw BRL via bank transfer is without a doubt a significant convenience.

 

A couple of altcoins available for trade

Apart from NanuCoin, this exchange has also listed Bitcoin, Litecoin, NanuCoin, PotCoin, and DigiByte. Although such crypto portfolio is not as rich as those of some major exchanges such as Binance or Bitfinex, its line-up is not that poor. Many entry-level exchanges offer only Bitcoin, which can be traded against a given local fiat currency.

 

Competitive fees

Nanu Exchange charges market makers 0.15% per trade, and market takers have to pay a bit more, 0.25%. This is a rather good pricing, and is in line with the industry’s average. All the more so, considering that major exchanges have significantly higher trading fees: FoxBit and BitcoinTrade both charge market takers 0.5% per trade.

 

Transfer fees at Nanu Exchange are also good. It only withdrawals charges out of the exchange. For example, withdrawals in Bitcoin are charged with 0.0015 BTC. Here is the complete information on withdrawals:

 

Click on the image to zoom in.

 

Good trading platform

As most exchanges, Nanu offers a web-based trading platform. It is user -friendly and equipped with everything needed: an order book, some charting, trading history, market depth window, a trollbox and a news-feed. Mobile app is also available to those who prefer to trade on the go.

 

 

Click on the image to zoom in.

 

Nanu Exchange Disadvantages

 

Suitable mainly for locals

Some of the main advantages of this exchange can also be considered weak sides, depending on the point of view. As Nanu Exchange focuses on the local market and works only with Brazilian reals and local banks, it would hardly be much of an interest to foreign crypto investors.

 

No leverage

Nanu Exchange does not offer leveraged trading, which is not a major flow, yet we must mention it. In case you want to gear up your trading in cryptos, you might be better of with a forex broker. Many of them offer trading in Bitcoin on margin.

 

 

>> Trading Bitcoin on margin with FX brokers <<

 

 

Note that the service they offer is done via CFD (Contracts for Difference) and is a different way of trading, as a client will not get access to the actual coins involved. You can find more details here.

 

Not much company background

This is actually a common situation in the crypto sector, yet it leaves a bad impression. Exchanges which share with the public some information on the company and its team seem a bit more credible in this unregulated space.

 

Fiat situation not clear

Уhile bank transfers are supported by Nanu Exchange, the terms and the fees aren’t that specified. Furthermore, the following notice appears when a user opens BRL markets on the platform:

 

BRL (Real) is the local currency of our country (Brazil). Due to the need to have current account in local banks the withdrawal is disabled.

 

Some popular coins unavailable

Although you can trade in a few altcoins, some popular cryptocurrencies such as Ethereum, Ripple, Stellar, Neo, Dash and more are not listed on Nanu Exchange. Some crypto traders might be disappointed.

 

 

Conclusion

 

Nanu Exchange is a small Brazilian exchange, which started out as a platform where one can trade in NanuCoin (NNC). This coin seems to be rather popular, especially among miners. It is also listed on CoinsMarkets.

 

Nanu Exchange also works with the local fiat currency, but the situation with local banks seems unclear. The main strong sides of this exchange are the competitive fees and the nice trading platform. On the other hand, it also has several weaknesses, which are not to be underestimated.

 

To sum up the most important things of the review in a few words:

 

Pros Cons
Works with fiat (BRL) Not much company background
Local bank transfers enabled Suitable mainly for locals
A few altcoins available for trade Some popular coins unavailable
Competitive fees Fiat situation not clear
Good platform Leverage is not provided

 

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Traders` reviews for Nanu Exchange

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