Overview
Novaexchange launched in Sweden around 2015-2016 under Goobit AB. It served for a few years as a mid-tier exchange with a heavy focus on altcoins. But on October 7, 2019, the company officially shut it down. Not a hack or fraud - simply a business closure where users were urged to withdraw funds.
What it offered
The platform listed between 230 and 350 tokens at its peak, making it popular for exotic altcoins. It was known for community-friendly policies like no listing fees for some projects. Fees were flat at 0.2 percent across trades. However, there was no fiat support, just crypto-to-crypto rails.
How it ended
The closure was a planned exit, not a collapse. Still, it left many users scrambling. Some notes suggest attempts at relaunch under different management, but details are murky. The original Swedish-operated Novaexchange is gone.
Pros
- Huge variety of altcoins, many not listed elsewhere.
- Flat 0.2 percent fee made pricing simple.
- No listing fees for smaller projects - community support angle.
Cons
- No fiat access, only crypto pairs.
- Trust fell after shutdown, users rushed withdrawals.
- Partial hack in 2016 with limited transparency, though losses were repaid.
Novaexchange snapshot table
| Feature | Strengths (Past) | Weaknesses / End Result |
|---|---|---|
| Token range | Hundreds of altcoins, free listings | Exchange shut, coins inaccessible |
| Fee structure | Flat 0.2 percent | No clarity around closure aftermath |
| Reputation | Community-friendly policies | Trust shaken after shutdown |
| Security | Repaid hack victims from own funds | Hack happened, limited details shared |
Final take
Novaexchange was a classic mid-2010s altcoin hub. It built a name for exotic listings and simple fees, but in 2019 shut down by choice. Not an outright scam, just another exchange that faded into crypto history. Today the name remains as a memory, not a viable trading venue.