Nauticus Cryptocurrency Exchange - 2018 Review | finder.com

Nauticus cryptocurrency exchange – review October 2018

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Buy and sell 100 cryptocurrencies with trading fees from 0.1%.

Nauticus is an Australian cryptocurrency exchange scheduled to launch in August 2018. Once launched, the platform is expected to offer crypto-to-crypto and fiat-to-crypto trading on 100 leading digital currencies and 2 fiat currencies. Nauticus expects to increase the number of supported currencies to 300 cryptocurrencies and 16 fiat currencies.

Other platform features include trading fees from 0.1% and the ability to process 1 million transactions per second.

To help you decide whether Nauticus is the right trading platform for your needs, we’ve put together this detailed review.

Product Name Nauticus Cryptocurrency Exchange
Fiat Currencies AUD, USD
Cryptocurrencies BTC, BCH, ETH & more TBA
Deposit Methods Credit card
Debit card
PayPal
TBA
Trading Fee From 0.1%
Deposit Fees TBA
Withdrawal Fees TBA

Pros

  • Offers fiat-to-crypto and crypto-to-crypto trading
  • Plans to support 300 cryptocurrencies and 16 fiat currencies within 12 months of launch
  • Designed to support 1 million transactions per second
  • Security measures include multiple encryption as well as two-factor and biometric authentication
  • Nauticus Coin holders receive fee discounts
  • Registered with AUSTRAC
  • Trade on mobile, desktop and tablet
  • Simple and sophisticated interfaces available to suit your trading experience

Cons

  • Not live at time of writing so it’s not yet known how user-friendly the platform will be
  • Limited information about which cryptocurrencies will be supported by the platform
  • Limited information available on fee structure at time of writing
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

What is Nauticus?

Nauticus is an international crypto and fiat currency exchange. Based in Melbourne and scheduled to launch in August 2018, the platform is designed to offer trading tools to suit everyone from novices to experienced traders. The exchange will also integrate with the Nauticus Wallet and mobile app.

Nauticus’s exchange is designed to act as the foundation platform for Nauticus’s banking and e-commerce products, which will include a worldwide e-commerce platform, a merchant payments platform and an ICO gateway. It’s scheduled to launch in August 2018 following the completion of the Nauticus ICO.

Bryan Ng is the CEO and co-founder of Nauticus. He is also the founder and CEO of First Accountants, a CPA practice with locations across Melbourne.

Which cryptocurrencies can I buy and sell?

At the time of this writing (May 2018), we couldn’t find a complete list of the 100 coins and tokens that Nauticus will support at launch. However, we do know that bitcoin (BTC), Ether (ETH) and the platform’s native currency, Nauticus Coins (NTS) are the three key cryptocurrencies on the exchange and will be in trading pairs with most of the 100 cryptocurrencies offered.

Within 12 months of launch, Nauticus plans to expand to support 300 digital currencies.

Available countries

As a global exchange, Nauticus will offer its services to users all around the world. If you’re unsure whether you’ll be able to access the platform from your country of residence, contact Nauticus customer support directly.

Which payment methods will be accepted?

Nauticus will accept deposits in cryptocurrency and seven supported fiat currencies. Nauticus is expected to support the following fiat currency deposits at launch:

  • USD
  • AUD

Additionally, Nauticus plans to support deposits in the following fiat currencies after its initial launch:

  • EUR
  • JPY
  • HKD
  • CNY
  • ZAR

How much will it cost me to use Nauticus?

Because the Nauticus platform is not yet live, there’s only limited information available on the fee structure that will apply. Nauticus promises to offer trading fees from “as little as 0.1%”, while holders of Nauticus Coins will be able to access a 50% fee discount.

Is it safe to use Nauticus?

In order to pre-register for an account with Nauticus, you’ll need to provide your name, address and country of residence. Before you can trade on the platform, you’ll need to provide proof of ID as well as your date of birth and current address in order to satisfy Know Your Customer (KYC) requirements.

In terms of security, Nauticus says it has a number of features in place to protect customer funds. These include 2-factor authentication combined with biometric authentication using smartphone fingerprint sensors, face recognition and voice recognition. Approximately 90-95% of all user funds will be stored offline to protect against hacking and theft.

According to the Nauticus white paper, the company has also “engaged high-level ethical hacking firms specializing in banking systems for ongoing security pressure and penetration testing”.

Customer support

If you have a question about your Nauticus account or a particular transaction, you can contact the customer support team by emailing support@nauticus.io

Pros and cons

Pros

  • Offers fiat-to-crypto and crypto-to-crypto trading
  • Plans to support 300 cryptocurrencies and 16 fiat currencies within 12 months of launch
  • Designed to support 1 million transactions per second
  • Security measures include multiple encryptions as well as 2-factor and biometric authentication
  • Nauticus Coin holders receive fee discounts
  • Registered with AUSTRAC
  • Trade on mobile, desktop and tablet
  • Simple and sophisticated interfaces available to suit your trading experience
Cons

  • Not live at the time of this writing, so it’s not yet known how user-friendly the platform will be
  • Limited information about which cryptocurrencies will be supported by the platform
  • Limited information available on fee structure at the time of this writing
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