NovaDAX Review

The crypto market in Latin America is booming – and so are the region’s homegrown crypto exchanges! If you’re looking for a platform tailored for the Brazilian market where BRL is a first-class citizen, you’d better bump this NovaDAX review to the top of your reading list!

Launched in 2018, NovaDAX went on to become one of the leading CEXs in the continent, with a daily trading volume of over 11 billion BRL (Brazilian real). It offers spot trading with 600+ cryptocurrencies and both fiat and stablecoin trading pairs. More experienced crypto enthusiasts will enjoy various reward packages and a flexible staking program.

Is NovaDAX safe, though? And does it really offer enough bang for your buck to compete with industry leaders like Binance, Bybit, or Uphold? Let me try and set the record straight with this in-depth dive!

NovaDAX Review: Quick Overview

Before we get started, you might want to take a peek at this handy cheatsheet where I’ve outlined the key features and characteristics of the NovaDAX crypto exchange:

Table: A quick overview of NovaDAX

Feel free to refer to it at any point while going through my NovaDAX review. And now it’s time to get going!

NovaDAX Alternatives

What’s a surefire way to answer the question, “Is NovaDAX legit?” – or if it’s worth checking out in the first place? By evaluating it against the industry standard, of course! In cases like these, I would always go for the top-rated exchanges. These are the best NovaDAX alternatives to keep an eye on:

• Binance. With 250+ million users across more than 180 countries, Binance is one of the largest global exchanges. It supports 500+ cryptocurrencies and several types of trading with competitive fees.
• Bybit. This platform features an intuitive interface and versatile trading options like margin, futures, and copy trading, as well as numerous staking and earning programs.
• Uphold. Launched in 2013, this exchange has more than 256 coins, a wide range of funding methods, and additional services like Uphold Card and Uphold Pay.

While Uphold is a bit more specialized, Binance and Bybit both offer a lot more trading types than NovaDAX, and with more affordable fees, too.

	UPHOLD	BINANCE	BYBIT
Overall Score	9.4	8.1	8.0
Best For	Wide Range of Assets	Advanced Users & Beginners	More Advanced Users
Operating Countries	United States, Argentina, United Kingdom, Mexico, France, +180 more	Turkey, Argentina, Vietnam, Ukraine, + 180 more	South Korea, United Kingdom, Ukraine, Turkey, +160 more
Latest Coupons	$20 in BTC All Uphold Coupons	See All Coupons of Best Exchanges	See All Coupons of Best Exchanges
Verdict	A reliable digital asset exchange with multiple additional features and tradable asset classes.	One of the leading crypto exchange platforms in the industry.	A popular crypto derivatives exchange with some super-low trading fees.
	Visit site Read review	See TOP10 Brands Read review	See TOP10 Brands Read review

Table: Binance, Bybit, and Uphold comparison

This is just a sneak peek, though! You’ll find a more detailed exchange comparison chapter at the end of the article.

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Who’s NovaDAX For?

At this point, you probably can’t help but wonder, “Am I wasting my time reading this NovaDAX review?”. I wouldn’t blame you – no one likes getting emotionally invested in a platform before finding out they're not the target audience for it, after all.

Which is why I’ve included another helpful bite-sized section to give you a preview of what type of users this exchange is meant for:

• Brazilian users. I’ve already alluded to this in the intro, but it bears repeating: with BRL (soon) being the only supported fiat currency alongside USD and the only one available for fiat trading, NovaDAX is definitely, first and foremost, built for crypto traders in Brazil.
• Beginner traders. While this platform does have some intermediate/advanced features, such as staking or recurring crypto purchases, the lack of other trading types makes it appealing to inexperienced traders who value simplicity and basic features.
• Long-term crypto investors. NovaDAX’s staking and Systematic Investment Plan with a built-in profit calculator are great for users who prefer holding on to their crypto as a long-term investment.
• Active traders. The platform supports a wide range of rewards programs incentivizing high trading volume.

There you go! As you can see, that’s quite a wide range of demographics. If any of those describe you, keep reading to find out exactly how NovaDAX can help you achieve your crypto trading goals.

Advantages

Without further ado, let me summarize NovaDAX’s main selling points:

• Large cryptocurrency selection;
• Fiat trading;
• Robust security;
• Staking;
• Multiple rewards programs.

With 635 supported coins and 680 trading pairs, NovaDAX offers a pretty generous crypto buffet even for those who often find most other exchanges’ asset lists lacking.

Most of the available markets are paired with BRL, which makes this exchange a convenient choice for those who prefer trading with fiat. Other trading pairs are with USDT (though a much smaller number).

In addition, NovaDAX goes the extra mile with its security measures. Besides the standard package of 2FA and advanced encryption, the exchange features a multi-level mandatory KYC system, offline storage for most user funds, and the SSL A+ certificate.

You’ll also find staking here – something that a lot of minor or local exchanges tend to bypass. NovaDAX’s staking program offers a flexible earning system with an option to lock up your assets for 1 to 4 years and withdraw anytime.

Last but not least, this exchange comes with a whole host of bonuses and rewards programs. New users get a Welcome Bonus, while everyone else can take advantage of a referral system or various competitions and giveaways.

Limitations

Where’s the catch, then, you might ask? Unfortunately, no platform is perfect, and NovaDAX, too, comes with its share of shortcomings. Here are the main flaws I’ve noticed while reading other users’ NovaDAX reviews and using the platform myself:

• High trading fees;
• Only has spot trading;
• Limited geographical availability.

For all its boasting of being the most competitively-priced exchange in Latin America, NovaDAX does have considerably higher fees than most of the A-list global exchanges, including the three I mentioned earlier. The platform charges a 0.25% maker and 0.5% taker fee. Even on the highest VIP tier, the fees only go down to 0.015% and 0.1% for makers and takers, respectively.

Another major weakness is the lack of advanced trading types. For many intermediate and advanced users, spot trading alone doesn’t cut it anymore – which is why most exchanges add leverage and perpetual contracts to the mix, at the very least. Unfortunately, NovaDAX only supports instant buy/sell and spot trading.

Finally, I can’t help but mention NovaDAX’s limited regional support and the company’s vagueness on the topic. Even though the registration itself is available for over 100 countries, only a number of them allow KYC verification without which the platform is effectively unusable.

Trading Tools

Now that you have some idea of what to expect from this exchange, it’s time to kick my NovaDAX review into full gear and unpack all of its features.

When it comes to crypto buying and trading options, here’s what you’ll be getting:

• Instant buy/sell (one-off or recurring);
• Spot trading with BRL and USDT trading pairs.

Instant crypto buying or selling is a popular alternative for trading if all you want is just a quick and hassle-free transaction without worrying about all the market intricacies. NovaDEX gives you the possibility to do exactly that. Additionally, you can opt for the Systematic Investment feature with automatic crypto purchases once every day or every 3, 7, or 30 days. Just to tip you off a bit – this is a neat way to implement the DCA strategy.^[1]

That said, it's a pity you can only pay with fiat currencies (BRL, USD, or EUR, the latter soon to be discontinued), not other cryptocurrencies, and the number of available assets to buy or sell is more limited than the spot trading selection. There are only 57 available coins, such as BNB, XRP, SOL, DOGE, and others.

The spot trading platform, on the other hand, offers a much more generous list of 635 cryptocurrencies across 680 trading pairs. Most of them are BRL pairs, but you can also choose between 43 USDT pairs that include coins like:

• BTC
• ETH
• ADA
• DOT
• TRX

There are four order types: market, limit, stop market, and stop-limit.

Fees and Limits

Here comes the number-crunching section of this NovaDAX review. How much does it cost to use this exchange?

As I noted earlier, it turns out it’s not the most budget-friendly option on the market.

Table: NovaDAX fees

When it comes to the Brazilian real, both deposits and withdrawals are free of charge. Crypto deposits are free, too, as they are on most exchanges, but withdrawals entail either a dynamic network fee or a flat fee (in the case of USDT).

As you can see, withdrawal limits are determined by the level of verification. I’m going to delve deeper into that later, but for now, “Verified” refers to a basic level of ID verification, while the “Advanced” level requires sending proof of your income.

NovaDAX features a tiered VIP system not only for spot trading but instant buy/sell fees, too.

Staking and Earning Rewards

If you’re the HODL type of crypto investor who loves earning some passive income off your holdings^[2], NovaDAX has got you covered! It comes with a flexible system that lets you stake your assets for a period between 1 and 4 years. There’s no lock-in: you can unstake your funds or add more without losing your accrued interest. What’s more, there are zero fees!

You can stake these 4 coins:

• BTC
• ETH
• BNB
• USDT

The system is pretty simple, and thanks to NovaDAX’s intuitive staking interface, it takes no time at all to figure out how it works.

The amount of APY you can earn depends on the asset and the staking time. Let’s say you picked USDT as your coin of choice and decided to stake 10,000 BRL’s worth of this particular stablecoin for 1 year. By the end of that year, you’ll have a total of 10,600 BRL in your wallet – in other words, you’ll have earned 600 BRL!

The rewards are linear, meaning that if you choose to stake the same amount of BRL on USDT for 2 years, you’ll have earned an extra 1,200 BRL, and so on. The minimum amount you can stake is 10,000 BRL, while the maximum is 1 million.

The other 3 coins have a lower APY – 3% compared to the 6% APY on USDT. The VIP system applies here, too: starting from VIP 1, stakers get an extra 0.4% added to their APY, while the VIP 10 users get an additional 1.2%.

User Experience

One thing I couldn’t agree more with most other users’ NovaDAX reviews I’ve seen is that this exchange really nailed the user-friendliness factor. While its relatively sparse set of features might play a role, too, it’s undeniable that this platform is just pretty well-designed, in general.

A lot of the time, it’s the small touches that can really make a difference. For instance, the Instant Buy/Sell option features a “Simulation back test” that lets you see what your portfolio would look like if you invested a certain amount of crypto at set intervals.

There’s also a neat price chart that lets you quickly convert the price of USDT to another coin and check its TradingView chart. Meanwhile, VIP users get a profit analysis tab with a number of statistics like the total P&P, estimated total value, and asset trends.

You can choose between two interface languages – English and Brazilian Portuguese – and two fiat currencies: BRL and USD. There’s also an option to switch between Light and Dark mode.

By the way, NovaDAX comes with a mobile app for iOS and Android.

Security

Time to settle yet another hard-pressing question: is NovaDAX safe? Fortunately, most of the markers seem to point toward “yes”. This exchange features all the standard security measures expected of crypto trading platforms these days, such as 2FA with Google Authenticator, advanced encryption, and cold storage for the majority of user assets.

NovaDAX also boasts an SSL A+ certificate proving top-tier encryption, strong security configurations, and no critical vulnerabilities. According to the company itself, NovaDAX has never been hacked, and my own research for this NovaDAX review confirmed that to be the case.

On the flip side, the company doesn’t provide any proof of reserve or records of security audits.

And now it’s the perfect timing to circle back to the exchange’s multi-level KYC system I mentioned earlier. There are two levels of KYC: the basic one, called “Verified”, which amounts to a simple ID verification using an identity document, and the “Advanced” one that entails proving your income with a scan of your tax returns or a recent bank statement.

You have to pass at least the first level to be allowed to deposit, withdraw, buy crypto, or trade. The second level increases your buying and withdrawal limits.

📚 Read Next: What is KYC and Why It's Important

Customer Support

The NovaDAX customer support setup consists of the standard combination of email, chatbot, knowledge base, and social media channels.

The chatbot can provide support in several languages – although it’s not really a live chatbot but simply an alternative interface for email inquiries. To make matters worse, it asks for way too many personal details – you’ll have to give not only your full name and email but your birth date and even your CPF number (the Brazilian individual taxpayer registry).

The exchange’s knowledge base could be a little more extensive, too. While it does contain all the FAQ articles on the most pressing issues, some were relatively hard to find because of inconsistent organization.

NovaDAX has several social media channels: X (formerly Twitter), Telegram, Discord, Instagram, TikTok, YouTube and Facebook. Most of the channels are in Portuguese.

Localization and Regional Adaptability

NovaDAX is primarily a Brazilian exchange, but it operates in a number of other countries, too. While the NovaDAX base is located in São Paulo, Brazil, its parent company, Abakus Group, has global headquarters in China and several other offices across Europe, the US, and East Asia.

Even though NovaDAX claims to be available in over 100 countries, the number of countries and regions whose users can access the exchange’s KYC verification is much lower. The official website or other sources don’t provide any information on restricted countries.

If you’re wondering, “Is NovaDAX legit?”, don’t worry – for all intents and purposes, it’s still a properly regulated exchange. The platform holds the Swiss VQF (Financial Services Standards) license.

Bonuses and Special Offers

Where’s the fun in crypto trading if you don’t get some free bounty every now and again? Luckily, NovaDAX has plenty to offer in this department. Here’s a list of the types of rewards programs you’ll find here:

• Welcome Bonus;
• Referral program;
• Promotional campaigns and giveaways.

As soon as you sign up, you’ll be prompted to take advantage of the NovaDAX Welcome Bonus – free BRL rewards for completing basic “getting started” tasks. You’ll receive a 5 BRL registration bonus right after creating an account, while the size of the first deposit bonus ranges between 1 and 10 BRL depending on the size of the deposit and how soon it was made.

Same with the first trade rewards – if you trade over 1 million BRL during the first 48 hours, you’ll receive a bounty of 600 BRL! Trading the same amount within the first 30 days comes with a 300 BRL reward.

Next up, there’s a referral program. Whenever you invite a new person onboard, and they make the first deposit, both you and the referee get a 25 BRL reward. In addition, you’re eligible for a reward every time they make a deposit of at least 100 BRL. The size of the reward depends on your VIP level – if you’re a non-VIP user, you get 5 BRL, while those on the highest tier earn up to 25 BRL.

Don’t worry, though – the flow of free cash rewards doesn’t dry up when you sign up or hand out referrals to everyone you know who takes you up on it! NovaDAX has plenty of regular giveaway events and competitions. One of them is the Token Launch Zone. Starting from VIP 3 and higher, you get 1-8 free vouchers per week (depending on which tier you’re on) to participate and support new tokens.

📚 Related: Best Crypto Deals 2025

How to Get Started With NovaDAX

Enough theory for now – let me show you how to sign up on NovaDAX so you can give this exchange a test drive yourself instead of just taking my word for it!

Here’s a detailed tutorial you can follow:

Step 1: Go to the official NovaDAX website and click [Sign up] in the top right corner.

Step 2: Enter your full name and email address and click [SEND CODE].

Step 3: Check your email for the verification code and type it in the “Email Code” section.

Step 4: Create a password, check the Terms and Conditions box, and click [Sign up].

Step 5: Select your country of residence and click [Continue]. You’ll receive instructions on how to complete basic ID verification.

That’s it! After completing KYC, you’ll be able to make your first deposit and start buying or trading crypto.

If you prefer using your smartphone, feel free to complete the same steps on the mobile NovaDAX app.

Comparison to Other Popular Exchanges

There’s a lot to like about NovaDAX – but, all in all, it’s still a relatively small fish in the pond. Let me introduce you to the top NovaDAX alternatives best positioned to serve as a benchmark to evaluate this exchange.

NovaDAX VS Binance

Binance often claims the number one spot on crypto exchange ranking lists due to its massive 250+ million user base and a daily trading volume of over $8 billion. It offers spot trading with 400+ cryptocurrencies, as well as a number of fiat currencies, including BRL – which makes it a suitable option for Brazilian traders.

Binance is the clear winner when it comes to trading types: you’ll find margin, options, futures, copy, and P2P trading. Margin trading has up to 10x leverage, while the exchange’s perpetual contracts system has USDT, USDC, and coin-margined contracts. You can also buy crypto directly with not only 50+ available fiat currencies but other crypto coins, too.

The platform’s staking package is more versatile than that of NovaDAX. You have a choice of 20 assets for staking, compared to only 4 on NovaDAX, and multiple types of programs depending on whether you prefer a safer investment with lower APY or a riskier venture with higher yields.

Last but not least, Binance blows NovaDAX out of the water when it comes to trading fees. Spot trading costs 0.1% for both takers and makers, which is five times lower than the NovaDAX taker fee and more than half the size of the maker fee. Plus, there are ways to lower them even more.

📚 Read More: Binance Review

NovaDAX VS Bybit

Bybit comes with multiple trading options and a massive selection of 1,600+ cryptocurrencies. It operates in over 160 countries, including Brazil. You can buy crypto with a credit/debit card and pay with 30+ cryptocurrencies (you’ll find BRL on that list, as well).

This platform has margin trading with up to 200x leverage and both perpetual and standard futures contracts that can be margined with USDT and USDC. You’ll also find some of the less popular trading options like copy trading and AI trading bots.

Bybit features a variety of earning options, such as Bybit Savings (a staking program), yield farming with liquidity pools, and other strategies that constitute a much more versatile package than what you’d get on NovaDAX, especially if you’re after a higher APY.

Bybit’s spot trading fees are exactly the same as Binance’s for non-VIP users – 0.1% for both takers and makers, which makes it a more budget-friendly platform than NovaDAX.

📚 Read More: Bybit Review

NovaDAX VS Uphold

Launched in 2013, Uphold is one of the oldest crypto exchanges out there, serving over 10 million users across 180+ countries. It boasts robust security with a 1:1 reserve and cold storage for most user funds.

Uphold has more than 300 cryptocurrencies, including new tokens before their official launch date, and even precious metals, making it unique among other centralized exchanges. Unfortunately, just like NovaDAX, it lacks advanced trading types.

One of the platform’s selling points is an intuitive one-click direct crypto buying feature that lets you purchase or sell assets with no intermediary steps. You can pay both with fiat currencies and other crypto assets, unlike NovaDAX’s system that only lets you pay with BRL.

Uphold utilizes an unconventional trading fee model – instead of charging a different rate for takers and makers, the fees vary by asset. BTC and ETH have a 1.4% - 1.6% fee while trading stablecoins costs 0.25%. Most altcoins cost 1.9% - 2.95%.

📚 Read More: Uphold Review

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

$20 in BTC

Conclusions: Is NovaDAX Right for You?

Let’s wrap up this NovaDAX review with a little recap. The NovaDAX crypto exchange is currently the leading CEX in the Latin American market, with a relatively high daily trading volume, a large selection of assets, and the option to buy or trade crypto with BRL.

That being said, the platform does fall short when it comes to more advanced functionality. NovaDAX only offers instant buying/selling, spot trading, and staking.

With that in mind, it’s probably not the best option out there unless you’re a Brazilian user who prefers trading with BRL or wants to try staking with a flexible and easy-to-understand approach.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Isynuwardhana D., Aslam A. N.: 'Optimization of Stock Investments in Indonesia Stock Exchange: Comparing the Method of Dollar Cost Averaging (DCA) and Lump Sum (LS)';

2. Cong L., He Z., Tang K.: 'The Tokenomics of Staking'.