Nominex Exchange: new option for Spanish crypto-consumers
Nominex Exchange: new option for Spanish crypto-consumers By Sponsor

Nominex presents itself as an option in the face of the difficulties many Spaniards have had because of the restrictive measures in Europe against Binance

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The advent of the cryptocurrency ecosystem, and Bitcoin

(BTC) in particular, aims to create financial freedom and equality for all citizens of the world. This has been largely observed so far, as digital currencies allow for financial transactions without the need for any supervisory banking authority.

The freedom enjoyed in the digital currency ecosystem transcends the transfer of value from one person to another. In fact, Bitcoin

and the myriad of alternative currencies have given rise to a new economy that makes them function as tradable commodities, just like stocks and the foreign exchange market.

Beyond recreating a financial market or exchange, there is a branch of the cryptoeconomy that meets the demand for generating new Bitcoin

assets. This is called mining. The combination of these unique offshoots of the cryptosphere work synergistically to generate a vibrant, self-sustaining ecosystem that is committed to serving everyone.

The EU and the general crackdown on Binance

Ever since cryptocurrency innovation came into the spotlight, government authorities around the world are extremely antagonistic to the potentials it presents. Who wouldn’t object, as the adoption of cryptocurrencies is billed to make the existing financial system obsolete?

Media reports say that lawmakers in the European Union have proposed stricter regulatory measures, most of which are aimed at cryptocurrency exchanges. This regulation and other compliance measures from other parts of the world caused Bitcoin’

s price to fall. The coin fell more than 20 percent to USD $32,000 in June as FUD swept through the currency.

Many EU nations are listed as one of the world’s top crypto hotspots. However, impending regulations may stiffen growth projections for trading platforms whose roots go beyond the region’s shores. The regulatory positioning of most EU member states has also contributed to mining tension in the crypto ecosystem. This may affect the growth of companies creating services in the industry

.

Binance under the radar

Of the global crypto exchanges operating in the EU, Binance seems to have fallen out of favor with most regulators, including Spanish regulators.

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Agitated by these regulatory pressures, Binance has begun to scale back some of its product offerings in Europe. In addition to its struggles with the EU, the exchange has been banned from operating on a large scale in other regions. Binance’ s regulatory challenges are most pronounced in the U.K. and Ontario.

Binance’ s growing ban creates room for restrictions. This restriction can be labeled as a major deviation from the basic principles of the crypto ecosystem. New traders are now required to register under the table, an illegal way to enter the exchange world’s largest cryptocurrency exchange.

When trading on Binance, users risk facing the wrath of Spanish regulators. However, this situation can be avoided by setting up tents with other options, one of which is presented below.

Nominex Exchange: features, offers and a Binancepartner

As cryptocurrencies dominate and replicate at a very fast pace, so do the trading platforms that support these emerging asset classes. Of the many emerging trading platforms, Nominex presents itself as a viable option for all classes of crypto users, including those in Spain and the EU.

Nominex reports that it has often been labeled by users who have experiences using the platform as having the potential to outperform Binance in its offerings. This is not because the exchange is willing to compete head-on, but because it has a fusion of features that makes it suitable for new and veteran cryptocurrency traders.

Nominex launched as a centralized exchange, however, seeing the ongoing evolution in the cryptocurrency world, it soon expanded to become a major ecosystem, with decentralized financial features. Some of these features include the availability of farming for its native token,the NMX.

Farming is a way to lock your tokens into an ecosystem to power the underlying functionalities, while getting new coins in return. The farming model that so many platforms are adopting is not entirely sustainable. However, Nominex indicates that it has created its version to offer more uniqueness and utility, as farming activity gives users additional preferences on the Nominexplatform.

These preferences are defined by the total amount of liquidity betting on agricultural smart contracts. An overview of the benefits is described in the table below.

<img src=”https://yellowrocketagency.com/wp-content/uploads/2021/09/nominex-555×365..jpg” alt=’Nominex’ width=”555″ height=”365″ />NominexNominex image

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Nominex farming has two main branches, including simple farming and professional farming modes respectively. While the former allows users to easily deposit in the NMX-USDT pair with one click, the latter requires linking with external wallet providers and compliance with all DeFi

rudiments.

The agricultural offering is designed in such a way that up to 200 million NMX tokens will be distributed weekly in a deflationary pool. This distribution will have a duration of approximately 72 years by design. This strategy creatively combines a combination that Nominex

indicates is high yielding (currently pegged at approximately 370% annually, it reports) with sustainability.

The Case

for

Binance

Users Although

cryptocurrencies are meant to disrupt the traditional financial ecosystem, Bitcoin founder Satoshi Nakamoto’

s

goal is to do so legally. Based on this, prospective traders and even veterans may opt to pitch a tent with Nominex as the exchange reports that it is clear with regulators and says it offers as robust an offering as Binance

.

Nominex contends that many will want to express their thoughts that this is an overly ambitious categorization of Nominex proponents. However,Nominex says it is not because it will soon become a Binance partner through the Binance Broker

Program and, as such, the exchange can provide similar services of order matching, account management and settlement systems for the benefit of users.

He reports that, as a Binance broker , customers of the trading platform will have direct access to liquidity on the Binance exchange. In addition, the broker program will provide Nominex with the flexibility to offer its users the appropriate market depth, asset management and security infrastructure available on the Binance exchange. Overall, as a Binance broker , Nominex

indicates that it will not reduce or eliminate its core benefits, which include lower fees and an enhanced user experience, among others.

To back up these words, Nominex became one of the top twenty projects in the Binance exchange’ s Most Valuable Builder II accelerator program. #MVBII is a special program for startups built on BSC. Over 400 projects have applied to participate, but now only 20 of them remain, and Nominex

is among them.

Nominex explains that it didn’t even apply to participate, but the <a hr

ef=”https://www.diariobitcoin.com/glossary/blockchain-2/” target=”_blank” rel=”noopener”>Blockchain BSC ‘s (Binance Smart Chain) listed exchange as a result of activity around Nominex in the global marketplace.

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Trading on the Binance platform through Nominex will be free based on the levels you enjoy on the platform, andNominex will be able to overcome its main challenge of lack of trading pairs and liquidity, as users’ funds will be custodied in Binance-backed wallets. Other benefits of trading on Nominex include;

  • Token resilience and;
  • Functional affiliate program.

As reported by the exchange, the NMX token has proven to be resilient amid the ongoing broad market correction. Part of the metrics that many users rely on to judge a trading platform is the performance of its own native token. Not only is the NMX token up over 25% in the last month, but it has posted a nice 373% growth over the last 4 months since the coin recorded its all-time low (ATL) value of USD $1.34. The NMX token is currently changing hands at USD$6.31.

In addition, Nominex has an affiliate program that is uniquely designed to reward any industry-wide influencer. With Nominex, it says, there is no limit to the amount of referrals you can have, and you benefit up to 20% of all tokens farmed by your direct referrals, and additional compensation from those not directly referred by you.

Conclusion

The crypto boom has come to challenge the beliefs of many people around the world when it comes to financial freedom. Many nations, including Spain, are somewhat resistant to this impending revolution and are pulling regulatory strings to clamp down on digital currency activities within their shores.

Binance Exchange is one of the main recipients of the regulatory sweep, which puts its users in a very bad corner. However, there are other exchanges to fill the void. Nominex, a Binance broker, can make it easy for Spanish users, EU residents or anyone else to trade on Binance through Nominex, taking advantage of the larger exchange’s liquidity and the latter’s negligible fees.

This arrangement, along with Nominex‘s other customer-friendly features, gives both exchanges a win-win advantage, while further benefiting users, concludes the exchange.

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