Review on Nominex by Japheth Ayuba
Nominex Exchange is one exchange that has come to Change Trading as we know it...
The advent and subsequent launch of the Nominex exchange is one that every trader both Professionals and Beginners alike would always appreciate for it's heavy investment into satisfying both parties. I came across this exchange on Revain and then signed up yesterday, even though one can say it's a short period of time but I can boldly say that the amount of time I spent on the exchange is an exhilarating experience. The exchange has decided to make a name for itself by introducing what it calls Entertrading which is a combo of trading while feeling entertained. Users are not just entertained but are also handsomely rewarded for their valuable time. Now to go into more details, signing up to the exchange was just a matter of seconds and then I proceeded to the Demo account which was preloaded with $10,000 for the users to trade with just like in a real trading environment. The Nominex exchange comes with 6 different types of orders when trading cryptocurrencies. It introduces 3 order types that I have never seen in any exchange and also decides to give the users a breakdown knowledge on what and how to use this order types. One of these order types has helped me lock in some profits from my YFI/USDT demo trade and so can be highly recommended for traders who occasionally might not be on their computers to monitor a trade and take in their profits. The order book is heavily loaded with liquidity and therefore doesn't leave many traders stranded. Although many of the pairs do have liquidity paired up with them, many others usually have low or no liquidity at all but this will be reviewed in time to come as many traders will surely begin to flock into the exchange. This Demo account on Nominex also permits users to participate in the Nominex daily tournament with their demo credits and earn real money. The money earned from the daily tournaments are usually sent to the Trust Account from which the users are expected to use in trading like a real account and the profits is what goes to the users wallet while the funds of the Trust Account goes back to the exchange after 7 days. Currently with little number of traders interested in this daily tournaments,one could easily reach the leaderboard without much hazzle and this tournaments in my view does not just only gives you rewards but teaches you some basics in trading like knowing when to buy and sell in order to make it to the top 30. This tournaments are sure to stay for a long time and many users can be advised to take hold of this opportunity to earn while being entertained
My trading experience on Nominex was short but was worth my while. The exchange offers very low flat trading fees of 0.1% which can be further slashed by 50% when using it's utility token (NMX) to pay trade fees. The exchange has a great User Interface that is suitable for noobie traders as well as the experts. I was easily able to find my way around the exchange as everything in the exchange was well detailed. On Nominex, there is also a training course targeted towards the beginner traders and comes with a reward for completing the course. After checking through with some of the lessons that I personally was not familiar with in the Crypto industry, I was able to gain some knowledge and insight into such area as the mentor is said to be a long time Crypto user and trader. Apart from Entertrading and it's training course, Nominex also offers crypto staking of Tron and comes with a 6-9% estimated yearly yield. This gives users who may not be interested in trading but investing, a chance to grow their investment
Just to round things up, Nominex is on its way to achieving a great feat amongst it's other centralized exchange counterparts and in a short time to come, it will surely be achieved. It's an exchange that will be an invaluable asset to any crypto user as it touches the different areas many users are interested in. It's untility token (NMX) which is currently cannot be traded is one crypto asset that I am planning to include in my portfolio and can say, it's value is set to sky rocket very soon. I highly recommend the exchange to all and sundry
Pros
- KYC isn't made compulsory on Nominex which helps preserve the user anonymity
- Low trade fees of 0.1% and can be slashed using it's utility token by 50%
- Hosts a daily trading tournaments for both demo and real accounts from which users can earn from
- The exchange comes with an impressive User Interface design that is easily understood
- Hosts a training course which comes with monetary reward at the end of every lesson
- Offers crypto staking for Tron and comes with a good 6-9% yield
Cons
- Considering the progress this exchange has made in such short period of time, I can say that there is no negativity for now
