Nav Coin is now available for trading on the LiteBit exchange platform. LiteBit trades in Euro pairs, meaning this is the first exchange to offer a NAV / FIAT pairing.
LiteBit operates slightly differently to a regular exchange. Most exchanges consist of buy and sell orders placed by users who have sent their coins to the exchange for trading. If I wanted to buy NAV on an exchange like this, I would have to look at the sell orders placed by users on the order books and place my own buy orders which match those amounts. The trade would then take place and I would be the new proud owner of some NAV.
The way LiteBit works is actually as an exchange service. They list the price they are currently selling NAV at in Euros and how many NAV they have available to purchase. You can then go ahead and purchase NAV at the fixed rate diretly with Euros sent from your bank account.
Once you are at least Tier 1 verified, you are also able to sell NAV to LiteBit at their flat rate. Their trading limits are based on verification levels and range from €350 to €35,000.00 per day.
The spread between buy and sell rates appears to be approximately 6% either way, which is more than you would find on a regular exchange. However, keep in mind that they are cutting out all the hassle and fees involved in selling NAV for BTC and then BTC for EUR and sending it to your bank account which can stack up to at least a few percentage and hours.
The user interface looks very nice and the website itself is easy to use. If you’re in the Eurozone and want to buy or sell NAV directly into Euros, then this is a great option for you.