Exchangers and Traders: Symbiosis or Hunter vs Prey? |FinSMEs


Should you get involved with crypto exchanges? Investing the pandemic cheque into crypto turned out to bring mahoosive returns, so maybe crypto isn’t so bad after all in the times of crisis. In fact, there are a dozen reasons why you should go trade right now. 

Trading could even mean the difference between life and death if you have no transferable skills and all the free time in the world to trade. Banks are systematically failing. Bitcoin is rising in price. Even Forbes seems to think that “Crypto Exchanges And Bitcoin Are Poised For Massive Growth By 2030”:

“Now, taking the assumption that crypto adoption is currently 5% in the U.S., we can estimate the future projected exchange revenue across the three scenarios of adoption in 2029 (10%, 20%, and 50% adoption). When doing so, the resulting exchange revenues in 2029 for each scenario are $1.9 billion in the conservative case, $3.8 billion in the base case, and $9.6 billion in the optimistic case. 

To date, retail-focused crypto exchanges have fueled the growth of the crypto market to reach its current market size of $270 billion. Although institutional investors are poised to enter the market, retail investors and users will continue to serve as its foundation. As new use cases and killer apps emerge, retail users will flood the market, and exchanges are poised to capture this growth.”

The future may very well lie with exchanges, but the question is: can you trust them? Every week a new exchange offers you huge welcome bonuses and prizes –  but there’s free cheese only in mouse traps. Right? 

Or… 

You know (because you’ve been told) that nothing in life comes for free. It is that basis (on which witches were burnt) that creates the most resistance when users see new and good things introduced to the world. 

Nothing is for free and if someone offers you something good, they’re after your wallet (at least). The story of gullible Pinocchio we’ve read as children grew in our subconsciousness to form over time into skepticism that guarantees, with very few exceptions, that every new beginning is met with hostility, be it the fact that the Earth is round (and we all know it’s rotund, right?) automobiles, emails, Bitcoin, or new exchanges. 

Everyone “knows” that exchanges are just making money on clients, and you really ought to be careful with them. They said the same thing about Bitcoin in the beginning. 

People cling to the familiar, which isn’t exactly a great idea, as the banking crisis of 2008 showed us. Familiar does not automatically mean good. Those who invested in cryp[to in 2010 and those 8 000 000 who lost their jobs and 6 000 who lost their homes in the banking crisis can vouch that an “equal” sign cannot be put between the two. 

SO if you theoretically could assume that some new things can actually bring goodness here’s the next question. Exchanges benefit themselves. But could they benefit traders too? 

Here’s how the relationship between users and exchanges works. Whether it’s the symbiotic relationship from the film “Venom” or the film “ Predator” – that you can judge for yourself. 

Why would exchanges give their money away? 

Exchanges don’t just throw money away. Tournaments bring exchanges turnover, life, and commissions. But at the same time, an exchange willingly shares its money – it distributes it to the winners. And this is a win-win situation – everyone gets their share.

Everything is fair and everyone gets what they want. And that’s how it should be.

In the oversaturated market exchanges come up with anything to lure a trader in. Still, with the invention of the Internet (and especially blockchain) crime doesn’t pay.  The internet remembers everything. So the only line of business businesses today has is a legal one. Which both makes things more complicated and safer. 

Safer because living without lying is so much easier. You don’t have to remember your lies. 

Complicated means having to come up with genius ways of making things work for both of you – but that’s why it’s so enjoyable. 

In the crypto sphere, as Bitcoin proved, it is possible to benefit everyone by creating genius mechanisms. So exchanges come up (because they pretty much have no other choice) with genius new ways of attracting traders that benefit all. 

 At the same time, the crypto market is not ready to give out tons of money to people just like that. And the pandemic has made its adjustments to our life. 

New ways of attracting traders and getting paid by them – but also paying them – using tournaments – are an honest and fair way of attracting users. All win, corrupt politicians, banks, and criminals lose.

The exchange gets commissions. Traders get the satisfaction of fighting to become the best, periodically becoming the best, and sharing prizes. Everyone benefits. 

Nominex is happy to be able to combine both plus present a ton of other nifty features not to be found under one roof anywhere else. 

  • No KYC on up to 3 BTC
  • 0,01% fees and 50% fees discount with NMX
  • 6 types of orders
  • 0.0% fee for deposits & withdrawals in BTC
  • 500$ deposit bonus: the best alternative to leverage!
  • Tournaments and USDT prizes every day
  • 65,525 NMX is shared among the most active traders every day
  • You can trade with zero fees: get NMX for trading and pay fees by NMX with 50% discount
  • Enter tournaments, show great skill, and go home with real money
  • Take advantage of Visa and Mastercard support if you feel like it 

Now, this is just the beginning of the list. Where else would you find all that under one roof? Let Nominex know if you do.

This article was originally published on FinSMEs
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