Review on NLexch by Thalhat Tee
Finally Closed down
NLexch Exchange is another centralised exchange that allows you to buy, sell and trade different types of cryptocurrencies. This exchange was launched and founded in Netherlands in 2017. The exchange allowed traders to buy and sell their cryptocurrencies with just a fee of 0.05%-0.1% for makers and takers. Presently, this exchange has recorded a trading volume of $0 for more than five months. Looking at the last tweet by this exchange in 2020, "Please cancel your orders and withdraw your coins till 31 July as we will shutdown everything by 1 August (00:00), we are not allowed to operate after that date." I was able to discover that this exchange closed down its services. However, on visiting the exchange's website I was able to discover the true cause of the closure. It was due to the inability to meet up with the stringent regulations by the regulatory bodies of the country. I have provided a screenshot to backup my findings.
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Pros
- None, the exchange is no longer functional
Cons
- The exchange has been shut down due to regulatory reasons
