Another Exchange Closed?

[Danity 68]

I just visit novaexchange and i found that website will be closed 

the trading activity will be closed on 7 October 2019 and you have time to withdraw until 28 january 2020

you can read all the details here https://novaexchange.com/news/

[cryptosix 1643]

LOL, this is like dead bath to exchanges and I am hearing a lot here and today second one for me. They have given more time to withdraw, but you should do fast.

As I see on the news page.

 

The Board of Directors of the parent company has decided to set a new course for Nova and reshape the value offer into a new crypto trading experience. This means that on Monday, October 7, trading on Nova Exchange will cease and close.

[teminalibug 309]

Thinking about it, these exchanges might be making serious profit so why would anybody decide to close a business like that, that's very weird!!!!! 🤨

[Danity 68]

14 minutes ago, yhiaali said:

Cryptopia Exchange

i thought that cryptopia is not hacked? cryptopia is closing because the owner is death while he hold all the funds in cryptopia?

[jmigdlc99 360]

It's probably because operating an exchange is not profitable anymore. With the decline in crypto interest and activity because of all the scams, there are much fewer people who trade online now and so the trading fees that used to keep the exchange afloat, no longer exists. Given these, the exchange operators have probably been in negative earnings because they have to pay for and maintain servers, developers, and support specialists.

It's purely a business decision.

[zoid 2]

11 minutes ago, jmigdlc99 said:

It's probably because operating an exchange is not profitable anymore. With the decline in crypto interest and activity because of all the scams, there are much fewer people who trade online now and so the trading fees that used to keep the exchange afloat, no longer exists. Given these, the exchange operators have probably been in negative earnings because they have to pay for and maintain servers, developers, and support specialists.

It's purely a business decision.

very true what you say. because operating an exchange is no longer profitable. With the decline in interest and crypto activity due to all the scams, there are far fewer people trading online now so that the trading costs used to keep the exchange going, no longer exist. Given this, exchange operators may have negative revenues because they have to pay and maintain servers, developers, and support specialists. This is purely a business decision.

[cryptosix 1643]

14 hours ago, Danity said:

i thought that cryptopia is not hacked? cryptopia is closing because the owner is death while he hold all the funds in cryptopia?

If the owner died, then someone from his family should continue the business when they are in profit. I don't think the owner is dead and they are closing their company for such small reason.

[jmigdlc99 360]

19 minutes ago, aderymilader85 said:

I don't think they don't make any profit 🙂 What do they really lose? maybe they were hacked or attacked or the team malfunctioned and they blamed for not being profitable but they actually hugged a pile of money

Keyword is "hugged." All the profit to be gained from exchanges probably was in the past. Today they will have to pay developers, customer support agents, server fees, and all that. With less people trading, they earn less trading fees, less money.

[Bills 583]

On 10/7/2019 at 12:45 PM, Danity said:

I just visit novaexchange and i found that website will be closed 

the trading activity will be closed on 7 October 2019 and you have time to withdraw until 28 january 2020

you can read all the details here https://novaexchange.com/news/

Go wrong, a bad administration can not survive, except when you handle a lot of money, it is strange that they have failed, normally the business of the Exchanges is very lucrative.

[Cryptobuy 10]

I read about it a couple of days ago, but I did not understand what it was connected with. It is very unpleasant to watch when exchanges close and retire, I want the opposite to develop, but unfortunately there are too many rivals in this field

[duncun007 3577]

Those exchanges shouldn't even exist in the first place because I swear man whether its cryptopia or coinexchange or novaexchange they all have the worst security teams and I never felt my money is secure on any of them so go for big exchanges only.

[Collectibles 177]

Just how many users would get visit the website in order to find out about this vital information just before the time given expires. 
Just a Reminder that ; Exchanges are not wallets. Not your Keys, Not your Crypto. 

[Agios 1763]

Novaexchange is one of the well-known exchanges, but even though it is now closed, Nova has given its depositors the opportunity to withdraw their cryptocurrency. so there's nothing to worry about here,

 

[spyaquino 907]

The cryptocurrency market is very large, but sometimes it's cruel, if you don't have a consolidated base you won't be able to compete among the big ones. Unfortunately many exchanges do not have much volume in the market and the maintenance fees or costs end up being higher than the profits themselves, exchange without trading volume, just like closed doors for sure.

[williamz902 696]

This is scary. At least they allow their users to withdraw without just shutting down and taking all the money. You just never know who to trust these days. That's why it's so important to do research on these exchanges and go with the popular ones.

[ultimateclub 392]

The governing body may be responsible for closing this trading site. They may had intentionally took this decision, either they can't meet up the maintenance expenses of this site from their earnings, neither they may breach of their contract. I am feeling so sad.

[Crypto123 0]

This is really very bad news for traders. How many exchanges have been closed this year. I have heard news of about 3-4 exchanges that have been closed this year. I do not remember all of it, but Cryptopia is the most famous as well as the CoinExchange. This is really sad news. We do not understand the real reasons behind the closure of these exchanges is that the scam that they were exposed to difficult circumstances.

[BullRunBit 2773]

On 10/7/2019 at 9:45 AM, Danity said:

I just visit novaexchange and i found that website will be closed 

the trading activity will be closed on 7 October 2019 and you have time to withdraw until 28 january 2020

you can read all the details here https://novaexchange.com/news/

Exchange closed because of some reason (not just this one).

You probably know about Cryptopia and what happened with that exchange.

And how I see (on link which you share, their notice) this exchange is NOT closed because of "hack" or "fraud" and what can be reason if is not this two, maybe because it was not profitable.

I think that now it's very hard to open exchange and to have volume, because there are few very strong exchange which have very big volume and for sure it's hard to compare with them.

New exchange must to have something very interesting to attracts people to come and trade there.

[Lubruselu 2803]

That's why traders are recommended to store their coins into wallets and not into exchanges because exchanges platforms are not trusted to be active anymore.

[Syedbesharat 5423]

On 10/7/2019 at 9:45 PM, Danity said:

I just visit novaexchange and i found that website will be closed 

the trading activity will be closed on 7 October 2019 and you have time to withdraw until 28 january 2020

you can read all the details here https://novaexchange.com/news/

They have close the exchange but they made every thing crystal clear to their members.And i see this as a very professional way to deal their member.In future when they will return their members will must come back to them.Because of their this kind of behaviour.

[khan22 3478]

Yes this is ture that Novaexchange will be closed soon and you can now withdraw your coins from it if you have to invest any amount in it then transfer it to another wallet and safe your money otherwise you will loss your all money in it. Join the yobit now.

[palalu 512]

I thought this exchange has been closed a long time ago. Because many of my friends have left this exchange and told me not to approach it again.

[FlatterCar 696]

I already wrote on this topic in a similar topic, as for me, each exchange now copies the most popular exchanges from the top 10. As I understand such exchanges die in just a few weeks, well, or at best a few months. Something like that.

[CryptoDJ 712]

For me it is natural process which is going on due to the fact that the exchange is just beginning to understand what she's really starting to sink online, but the money you have to pay for domain and other things to support the exchange, and they begin to close.

[scorpiali 5626]

I love the way the novaexchange close the exchange i hope all exchange with some problems do that to inform users that will be closed and they can withdraw all her founds, not like cryptopia