Review on Nominex by Stephen Toluwani
From Entertrading, to it's staking program, and it's affiliates bonus, Nominex Exchange will surely appeal to anyone in the crypto community
The Nominex Exchange is a relatively new Crypto exchange that has already risen to the 46th ranking on Coingecko. This exchange launched in 2019 has been able to cover giant strides in meeting the needs of many Crypto traders especially the beginners. It comes with a unique user interface that can easily be navigated by any newbie. It's appeal to beginners can be seen in it's trading courses, first of all, I noticed that the exchange supports 6 different order types, these order types were explained in clear details which helped me understand what they are and how to use them especially the trailing stop future order and scaled order which were relatively new to me as a Crypto trader. Nominex goes further by introducing a learn-and-earn crypto trading camp. This feature which can be seen under the "learn" in the drop down menu. The exchange employed the Service of an expert crypto trader to teach new users from the basics to the fundamentals of crypto trading, the lessons were quite simple and straightforward, easy to understand and yet comes with a potential 500 USDT credited after the learning process. Already a Crypto trader with little to learn, I didn't focus on the lessons as I only interacted with the first lesson which I could really vouch for as an easy to understand coursework. Another appeal Nominex comes with is it's 50 USDT deposit bonus for the new users who are able to deposit a total of 100 USDT. This is quite a hallmark for a new exchange as it desires to offer new users free earning opportunities
Moving away from it's unlimited appealing features to beginners, Nominex has an easy onboarding process that requires just one's email address and set up a password to use on the exchange. The exchange also respects its user's right to the dissemination of their data as it permits a No-KYC trading zone and withdrawals for up to 3 BTC daily. I for someone who loves to have my personal details confidential makes this exchange irresistible for me to make my trades. Nominex Exchange also supports Crypto staking but currently, only supports Tron staking which comes with an impressive APR of 6-9%. Checking through the historical yield of the staking, I noticed that it once gave an APR of 24.46% for the 16/11 payout period. This yields are quite impressive and made me move and even stake all my Trons as many other staking platforms don't offer this high stake
As for the Spot exchange area, Nominex has a good UI for it's order book and also has good liquidity on these order books as many traders are beginning to make use of this exchange. The exchange charges a low trading fee of 0.01% which can still be cut by half when using the exchange utility token NMX. Although there's no incentives given to its market makers, but all the same, the fees are quite low and that can be disregarded. On the account, users can switch Account types to fit what they need to do at the moment. Nominex Demo account comes preloaded with 10,000 demo USDT to allow traders trade real time with no risks attached. There is also Daily trading tournaments for both real accounts and demo accounts to participate in and earn rewards. It introduces this tournament as a method of Entertrading which is earmarked as entertainment plus trading combined with earning prizes for participating. The prizes that comes from this Entertrading or dialy tournaments, just like many other rewards given like deposit bonus and the 500 USDT earned from the Crypto trading are deposited to the Trust Account from which the profits earned from the trades taken can be withdrawn
Nominex also boasts of a high level military grade security system and stores (according to the information on the exchange) 94% of the users funds in offline Multi-signature wallet. It's No-KYC features makes this necessary to avoid being drained of its user funds. Nominex is translated into 9 other major languages apart from English and this makes the exchange accessible to people from different parts of the world. The exchange can be spotted as an entry-level exchange for new crypto users as they support card deposit to buy cryptocurrencies and is partnered with Koinal and Mercuryo to implement this and this companies are known to be reputable. Margin trading is not yet supported on Nominex but will soon be according to information gotten from the support team on telegram. According to some reviews I read on Revain by some authors about their support team not being active, I can't really say for the in-exchange Chat box but as for the telegram support, they are very active and were quick to answer every query I threw at them when I was having issues in using the trailing stop order. The number of cryptocurrencies on this exchange is still a small number but as it's still new, many more will be coming into the exchange
Nominex Exchange is a great Crypto exchange for any traders, investors interested in it's staking platform and individuals who are into affiliates marketing. It combines many features that makes it ideal for every Crypto enthusiast
Pros
- Nominex Exchange is a new Crypto exchange that sports a unique kind of User Interface design that can be easily understood even by beginners
- The utility token of the Nominex exchange which is the NMX is a yet-to-be traded utility token which when used on the exchange, can cut transaction fees by a whopping 50%
- Nominex agrees to preserve user anonymity by permitting No KYC withdrawal of up to 3 BTC per day
- The onboarding process or registration procedure for having an account on the Nominex exchange is very simple and direct, it takes one less than a minute.
- There is a Demonstration Modal or Demo account that allows beginners trade real time with no risk. The demo account comes preloaded with 10,000 Demo dollars and allows the users trade real time.
- Daily trading tournaments which comes with very good rewards on both tournaments types
- First time user incentives of 50 USDT for making a 100 USDT deposit
- High class military grade security system and stores 94% of the users funds in offline Multi-signature wallet
- The exchange supports 10 different major world languages for easy access to different people from different places
- Nominex has a learning platform for it's new users called Cryptocamp that comes with up to 500 USDT for completing the course
- Nominex supports Crypto staking but for Tron only at the mean time
Cons
- The website is sometimes slow, encounters login bugs and not very stable as many users has complained about this on the Telegram group
