Now, April 22 was just another regular quarantine day for me, except for one interesting event that laid another brick in the base of my financial independence. The initial exchange offering of Nominex tokens (NMX) began.
What is Nominex and why I like it
Nominex is a new cryptocurrency exchange that surprised me with a fresh approach to its internal functionality and community base. You may find it surprising but they are actually the first to introduce what I find a really working and well designed affiliate partner program. Since 2017, I took part in many referral programs in crypto, and most of them resulted in tiny rewards, of failed to work at all. Here the case is different: the program is well thought, and the token not only claims to be utility but also works like one.
To give you some understanding, I’m not a trading maniac. I’m more into looking for promising projects, buying into those on the cheap and helping them to build up communities and attract new retail investors. That was my motto for many months, and many of my friend made a killing on token pre-sales (as humble as I am please let me refrain from naming the most profitable bets).
Trading and exchanges: The song or solitude
I do trade an occasional Bitcoin or Ether but overall me is more a HODLer type if you know what I mean. Nevertheless, I’m quite familiar with crypto trading. First of all, many of my friends trade actively, and I gave them some nice hints on new crypto exchanges that offered low commissions and hefty liquidity. Second, I personally checked all those before giving any advice or sending an invitation.
Over the course of 2017-2019 I had registered at no less than 20 exchanges, including all the Grands (Binance, Huobi and Okex) as well as on many come-and-go ‘revolutionaries’ that appeared to have no backbone of any sort (no-fee Cobinhood being the finest example). And that is why I’m capable of saying this out loud: NO top exchange managed so far to produce a working and attractive referral plan.
It is truly amazing that the majority of those: (a) give you only one, or maximum two referral levels, (b) throw you nothing more than a micro slice of your referrals’ commissions, and (c) in most cases delay this little payment significantly with up to one month wait.
How Nominex is different
That is why I was amazed to run into Nominex affiliate partner program. Believe me or not, I spent about an hour browsing the website and checking for all bits and pieces seeking some hidden catch. Appeared that there is none at all. The exchange is very good, and the referral opportunities it grants are just outstandingly lucrative.
Registration at the exchange took literally ten minutes, from the moment I entered my friends referral link to the browser till my first deposit in BTC arrived on the account allowing me to start trading. I wanted to test all functions before going any further, and was positively surprised that withdrawal was as quick, and required no KYC (it is so for all amounts below 3BTC). They have a decent set of trading pairs, and look at expand gradually, and the exchange itself works fast and has no delays or halting, which is good again.
The golden egg: NMX tokens and the partner program
NMX tokens are currently are on the IEO, in fact, Nominex is implementing their own hybrid system called DCO (In-Demand Coin Offering) that combines the best of all features of the previous systems. A hybrid system means some tokens are sold and some are distributed among users. This is important because thanks to active users (token holders), when a token enters the exchange, it will extremely likely not experience a fall in price since it has really utility and is already used.
I struggle to make a whole new story out of this chapter as the proposition Nominex made looks exceptionally nice. The team came up with a paradigm-shifting idea which they called ‘entertrading’. Basically, this neat mixture of ‘entertainment’ and ‘trading’ is self-explanatory: the new generation of exchanges must offer something more that plain BTC-token trading pairs. And this brilliant idea is nicely mixed with two more elements: the referral program, and NMX’s utility implications.
‘What’s in a token?’
You know that Spiderman does whatever a spider can? So, NMX tokens do plenty of cool things as well. You can use them to reduce your commissions by 50%. You add 10% to your referral payouts if you choose to receive those in the tokens. Same bonuses are applied to the exchange’s Demo tournaments (which are so cool that deserve a separate article).
NMX tokens are flesh and blood of the referral program helping you to boost effects from it and maintain higher rank in the program. The last but not the least, there are goooood chances of you seeing the price of NMX go way up, as Nominex will use part of its profits to buy tokens from the market and burn them.
The referral program
Nominex has designed its affiliate partner program smartly. First of all, this a binary tree. On top on that, the tree has (and this has no precedent in the market) an unlimited number of possible levels. Effectively, this means you can have not two or three but a hundred, or a million levels in your referral structure.
Because of the way it is structure, the tree makes you able to grow income with no further efforts at all. Spillovers will help you get new people in the tree, those whom you never know. Potentially, this is a stand-alone business of its own where you make no input and just collect rewards. Once you get a required number of NMX tokens to support your program status, you will earn up to 5-8% of all commissions made by your referral members.
There are many side benefits, like bonus cards that give points and rewards as well. Team activities are giving bonuses and rewards. So, to wrap it up, I do have my interest in luring you into this as my referral link will lead to a better teams of my own if you decide to join. But when you do so, nothing stops you from building a structure of yours even topping the one I built already.
So, let’s hope I sparkled some interest in you. Let’s try this amazing opportunity together!