Nominex: Cryptocurrency tradinGoogle Play
Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
The cryptocurrency exchange allows the “trading of Bitcoin, Ethereum, NMX, Link, Tezos, Cardano, BNB and many other cryptocurrencies WITHOUT any fees.”
There is no need for KYC for withdrawals and deposits of less than 3 BTC per day.
Has support for Visa and Mastercard
Your funds are stored in the wallets of the largest exchange — Binance.
Nominex maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and funds of Users which are flagged out or investigated by legal mandate.
The previous quote is very telling of this app’s custodial nature. Maintaining a stance of “cooperation with law enforcement authorities, and attesting that they would not hesitate to seize, freeze, terminate the account and funds of Users”, is highly indicative of a custodial service. This makes the app not verifiable.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.