Nominex is the first hybrid exchange with DeFi mechanics introduced in September 2019. It allows crypto traders to trade digital assets widely and instantly from Bitcoin to many other cryptocurrencies. Bringing the superb crypto trading experience to newcomers and experts, Nominex offers users direct access to cryptocurrencies and implements a unique mechanic to bridge DeFi yield farming with a centralised exchange. Nominex is the first centralised exchange that distributes its native token, the NMX, through the DeFi staking/ farming mechanic and can be used for fee payment, applying staking, affiliate packages, and more.
Nominex platform, which is a combination of CeFi and DeFi, consists of various features, including API, Demo Trading, Supporting Cryptocurrencies, Trading Fees, Trading Tournaments, Nominex affiliate Program, and Nomiswap. Let’s elaborate on them in the following.
With Nominex, you can create your own API keys for various purposes, such as:
● Portfolio tracking services
● Trading bots usage
● Any non-interfering 3rd party software.
With the Nominex demo trading account, you can learn and practice your trading in a risk-free environment. In simple words, the Demo feature is a copy of the Nominex exchange with its advanced tools and enjoyable interface. It doesn't require any deposits or funds and allows users to simulate real trading with only one difference. Instead of real money, your demo account is automatically funded with a "fake" or "virtual" balance.
Your tariff levels are determined based on the trading volume and NMX balance. Trading fees are distributed between makers and takers on the platform. Each person who adds order to the order book is known as a maker, and takers are the ones who take an existing order from the order book, and there are 10% fees for both of them. However, you can lower your trading fees if you have a 30-day trading volume exceeding certain levels.
Nominex allows users to participate in daily tournaments, and winners actually receive real USDT on their real exchange balances. You don't need to deposit any amount of money, you will automatically get 10000 USDT on a DEMO account for each new tournament, and then you will be compared by your 24-hour trading volume or ROI.
The Nominex exchange comprises a referral program that allows users to invite new traders with a referral link, earn real cash, and expand the Nominex community. As a result, the users obtain eight kinds of bonuses.
Nomiswap DEX, the first decentralised exchange platform on the market with a binary referral system, is a part of the Nominex ecosystem and backed by it.
Rewards for farming activities are only applicable to Nomiswap because farming and staking work only on Nomiswap.
Nominex is a member of the Binance brokerage program, which is a brokerage program from the Binance and offers users several opportunities, including:
Nominex is the first centralised exchange to launch utility staking successfully, and NMX is its internal DeFi token and consists of various distribution mechanics related to DeFi yield farming techniques. If you start farming NMX, you temporarily send NMX and USDT to a particular smart contract and receive a reward in new NMX tokens. In addition, if you are an NMX holder, you obviously can use your tokens in various ways, including:
NMX token is the #509th largest cryptocurrency by market cap with a circulating supply of 36 Million NMX coins, a total supply of 36 Million, and a max supply of 200 Million NMX. The current price of each NMX token on May 5, 2022, is about $1.6, which is %80 lower than its highest level when NMX was traded at $8 on Apr 12, 2021. It is also %65 higher than its lower price when each NMX's price was about $0.99 on Dec 28, 2021. You wouldn't be happy now if you invested in the NMX token last year since the token is down to almost -%65 over the previous year.
Nominex is a centralised cryptocurrency platform that provides high transaction speed and lucrative referral programs and has introduced various practical features since its launch. However, there are several shortcomings of which you would be better aware before investing. The Nominex exchange supports a limited range of cryptocurrencies, and the liquidity score of the NMX token is 1%, which is absolutely low and causes spikes and volatility in price and reasonably makes the project a hard trade. Also, decreasing in price by 65% over the past year proves that it hasn't performed well, while similar projects had 8% growth over the past year.
Put it all together, we have reviewed the ins and outs of Nominex and its token NMX, but you need to do your own research, and this article is not to be considered an endorsement or investment advice. Here at Cryptologi.st, we do our best to provide educational content as simple as possible and try to help you invest with confidence in the top 1500 coins.
Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation, or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation, and legal advice.
© 2022 - Created by Cryptologi.st