Threenvest > Decentralized exchange reviews

Nomiswap Review 2024

Our veredict

Nomiswap is a promising decentralized exchange (DEX) on the Binance Smart Chain (BSC), known for its low transaction fees and robust rewards system. With a base transaction fee of just 0.1%, users benefit from significantly lower costs compared to other DEXs. The platform allows for direct wallet connections, ensuring users maintain custody of their cryptocurrency at all times. Additionally, the NMX token, integral to both Nomiswap and its centralized counterpart Nominex, offers users the opportunity to save on fees and earn through staking and farming with impressive annual percentage rates (APRs).

Despite these advantages, Nomiswap has some drawbacks. It supports a limited number of tokens, primarily those on the BSC, and lacks an NFT marketplace. However, it is particularly suitable for users already engaged with Nominex or those seeking a DEX with low barriers to entry and high passive income potential through farming and staking programs.

Pros

1. Low Transaction Fees Nomiswap charges a base transaction fee of just 0.1%, making it one of the most cost-effective decentralized exchanges available.
2. Direct Wallet Integration Nomiswap allows for direct wallet integration, meaning users can trade without having to deposit their funds on the exchange, ensuring better security and control over their assets.
3. High Staking APRs Nomiswap offers some of the highest staking APRs in the market, with rates reaching up to 207%, providing significant passive income opportunities.

Cons

1. Limited Token Availability Nomiswap supports a limited number of tokens, primarily those on the Binance Smart Chain (BSC), which might not suit users looking for a wider variety of assets.
2. Only Supports Binance Smart Chain (BSC) The platform is currently limited to the BSC network, which restricts users from trading tokens on other popular blockchains.

Threenvest Score

Network

Binance Smart Chain

Fees

0.10%

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Why choose Nomiswap?

Choosing Nomiswap as your decentralized exchange can be highly advantageous for several reasons. Firstly, the platform’s ultra-low transaction fee of 0.1% makes it one of the most cost-effective options available for traders. This low fee, combined with the opportunity to receive cashback in NMX tokens, means users can potentially trade at zero cost depending on their farming level. This structure is particularly beneficial for active traders who want to minimize their trading costs.

Another significant advantage of Nomiswap is its robust passive income opportunities through staking and farming. The platform offers some of the highest annual percentage rates (APRs) in the market, with staking rewards reaching up to 207%. This is complemented by a well-structured referral program that allows users to earn continuous rewards from their referrals’ activities. These features make Nomiswap an excellent choice for users looking to grow their cryptocurrency holdings without needing to engage in active trading constantly.

Finally, Nomiswap’s integration with Nominex adds an additional layer of reliability and functionality. Users benefit from the liquidity and market depth provided by this partnership, ensuring smooth and efficient trading experiences. Furthermore, the platform’s direct wallet integration means users retain full control of their funds, enhancing security and trust. These combined features make Nomiswap a compelling choice for both new and experienced cryptocurrency users seeking a decentralized, secure, and rewarding trading environment.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert from our site, I highly recommend Nomiswap for anyone looking to dive into decentralized exchanges. Its ultra-low fees and robust cashback rewards system make it a cost-effective choice for traders. Additionally, the high staking and farming APRs offer excellent passive income opportunities. With its strong security measures and integration with the reputable Nominex exchange, Nomiswap provides a reliable and user-friendly platform for both new and experienced crypto enthusiasts.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.