Just two days ago, last October 30, 2017, many miners and traders received the unexpected news that Novaexchange will soon be closing down to pave way for a new management takeover.
For those who have not yet heard the news, below is the official email sent by Novaexchange to its subscribers:
“Intimation of closure of Novaexchange
Kindly note "Novaexchange" will have new owners and management effective April 2018, with major upgrades to the exchange to better handle scaling, stability and security.
For better management and security of customer funds we have decided to close down Novaexchange so that the users can withdraw all their funds with no participation/responsibility of action of the new management.
Preliminary plan:
2017-10-30 This information goes public, user registration closes, addcoin page closes, disabling deposits of ETC and ETH
2017-11-30 Deposits disabled for ALL coins, all users get level 3 verified account level
2017-12-15 ONE last deposit scan to take care of deposits made after 2017-11-30
2018-01-31 Email reminder to all registered users
2018-02-28 Trading engine stops, dice game stops, API stops
2018-03-31 Login stop, website replaced with information
2018-04-15 Support closes, all Novaexchange user data removed
Remaining user balances that has not been withdrawn before 2018-04-01 will be considered a donation and is not refundable.”
If there’s one thing that traders do not want, it is uncertainty. They will sell if an uncertain event happens. And sell they did. Altcoins not listed in other major exchanges took a heavy beating. Deep Onion was hit hard with the selling, from the steady price of around $0.70+, it fell to $0.48 at its lowest. Those who believe in the future of Deep Onion bravely and quickly bought the coin. Just like the saying in the stock market, “Buy when there’s blood in the streets.”
Once the news of the Novaexchange closure was published, the Deep Onion community quickly moved into action. They informed the devs and mods of the situation. Threads started popping up about the Novaexchange closure and what exchanges that can list Deep Onion. There was a healthy exchange of ideas and information. Many exchanges were considered by the members like Bittrex, Yobit, Cryptopia, HitBTC, Poloniex, Bitfinex, Livecoin, Kraken, Xbtce, and Exmo.
A member posted that Cryptopia was offering a half price listing fee for orphaned coins in Novaexchange.
Many DeepOnion.org forum members were confident that the devs and mods will quickly take care of the matter of new exchange listing and will not prolong the current situation where Deep Onion can only be traded in an exchange that will soon be closing down.
The dedicated Deep Onion members were right. The devs and mods did act immediately. Today, November 1, we see the announcement from the devs and mods that they have applied and paid for Deep Onion listing in Cryptopia. We now learned that the developers and moderators of Deep Onion contributed for the amount needed to list Deep Onion in Cryptopia.
I have been trading in Cryptopia for months now and I have not encountered any problems. At this time they have the following limit for withdrawals. Below is what is listed in their site.
“Verification Level1
Users verified by email have a daily withdrawal limit of $5000.00 NZD
Verification Level2 Incomplete
Users that have provided evidence of their identification have daily limit of $50000.00 NZD”
With the other exchanges like Poloniex and Bittrex becoming stricter and stricter in the amount of BTC you can withdraw, Cryptopia could become a welcome option for traders and miners.
Cryptopia’s support is also reliable. During the SIGT coin wallet corruption fiasco that happened months ago, the staff of Cryptopia worked hard so that SIGT owners can withdraw their coins. I admire their support and I thank them for doing their best to take care of the coins of their subscribers.
This listing in a new exchange marks a new beginning in trading the Deep Onion coin. The devs, mods and the community now see the danger of being listed in only one exchange. Deep Onion is growing fast and other exchange listings must follow soon to ensure that growth will not be hampered.
Deep Onion in Bitcointalk
https://bitcointalk.org/index.php?topic=2006010.0
Deep Onion Forum
https://deeponion.org/community/
Deep Onion Airdrop
https://deeponion.org/airdrop.html
Deeppoints Activated - Introducing Deeppoints
https://deeponion.org/community/threads/deeppoints-activated-introducing-deeppoints.4926/