Review on Nominex by Benaiah A. Akinlade
Nominex changing the face of cryptocurrency exchanges through the amazing "ENTERTRADING"
Just like conventional fiat banks allow us to hold local currencies, cryptocurrency exchanges provide one service, which is to allow us to hodl and trade cryptocurrencies. There are numerous crypto exchanges that provide the same services in different ways. They package and repackage services to make themselves endearing to investors. In the eyes of each and every crypto exchange, they see themselves as the best.
There is something distinct about the services nominex exchange provides. This self-acclaimed entertrading crypto exchange mastered the art of allowing investors trade and hodl cryptocuurencies while they have fun. The exchange was co-founded by Pavel Shkitin (CEO), Alexander Petrovich (CTO), and Denis Korablev (CEO) with the aim of enabling investors to “entertrade”, which is the mixture of entertainment and digital currency to provide top notch services without getting bored. This entertrading is achieved through daily trading tournaments and giveaways where investors can compete and win token.
The Nominex exchange is very easy to navigate for newbies (beginners) due to its “learn as you navigate” feature. KYC is not mandatory so the privacy and identities of investors is kept anonymous, although this can also be a fascinating feature for users aiming to transact fraudulent activities. The exchange is navigable in 10 different languages
Another feature of many crypto exchanges is their native token. The native token of Nominex is NMX, which can be used in transaction on the exchange. Although the token is not yet tradable, but it swaps with USDT at the rate of 1 NMX token to 1.1 USDT. The total token supply of NMX is 200 million NMX with a circulating token supply of 100 million NMX.
The whitepaper of Nominex is well detailed and a lot of the aims have been satisfied
Achieved feats
• In September 2017, Nominex started the development of its technical platform
• May 2019, Nominex became a registered company in Estonia
• June 2019 saw the launch of the Beta tests of Nominex exchange
• Nominex Exchange became available for public access in August 2019
• The Nominex Binary Affiliate Program was launched in October 2019
• December 2019 saw the introduction of the Demo mode for trading training on Nominex
• By February 2020, Nominex introduced Trading discount cards
• March 2020: Nominex launched the feature of buying and selling of crypto with bank debit and credit cards
• Nominex Daily trading tournaments was launched in June 2020
• By the 2nd Quarter of 2020 the Educational and Trust Management Platforms was inaugurated for experienced traders
• 3rd Quarter of 2020 saw the integration of trading bots on Nominex Exchange. Margin trading was also introduced
• 4th Quarter of 2020 welcomed the Futures trading feature
Anticipated feats to be achieved
• 1st Quarter of 2021 will see the introduction of Social trading
• April 2021 will see the termination of the NMX tokens distribution and making NMX token tradable on Nominex and listed on other exchanges
• 2021 is also expected to see the launch of Nominex Merchant Platform and the issuing of the bank cards
Due to the fact that majority of the plans highlighted in the roadmap has been achieved, I have a sense of belief that Nominex will come true in its pursuit of becoming a big name in the crypto exchange arena and become one of the top cryptocurrency exchanges around. I will keep a very close eye on this exchange.
Pros
- The User interface of the platform is very simple and friendly
- The deposit and withdrawal system is very fast and the exchange supports Visa and MasterCard
- You earn a discount of 50% trading fees if you pay with your NMX tokens on the exchange
- You have access to a demo trading platform where you can really learn how to trade on Nominex
- You can earn more NMX by token distributions, referral programs, token staking and daily trading tournaments
- The exchange boasts of Military-grade security system
- The exchange is set up in such a way that the more active you are on the platform, the more NMX tokens you earn.
Cons
- The Nominex native token (NMX) is currently not a tradable token
