Nexybit.com is a global mining exchange which offers both token and futures cryptocurrency trading. The goal of Nexybit is to provide a wider range of sophisticated trading options in a fair and transparent manner. Nexybit is a centralized cryptocurrency exchange located in South Korea. It currently has a 24-hour trading volume of Ƀ0.29 from 3 coins and 7 trading pairs. Nexybit is established in year 2018.
Nexybit selects tokens based on a strick and fair criteria. The Nexybit trading system is based off banking and financial institution architectures and manages funds using a cold-wallet system. Through the Nexybit IEO platform, users will be able to easily access highly vetted projects while project team will be able to run fundraising events on a safer platform with access to a list of verified investors.
Nexybit Account Registration Method
- First, click “Sign Up” in the upper right corner from the Nexybit top page
- Then set up your email address and password.
- After setting the mail address and password, click “Get code”
- Since an e-mail code is sent to the registered e-mail address.
- If you click “Get code”, there is a time limit of 60 seconds, so let’s input within 60 seconds.
- Finally, check the agreement of the terms of service and check “Sign Up” and register your account with Nexybit.com .
Nexybit selects tokens based on a strick and fair criteria. The Nexybit trading system is based off banking and financial institution architectures and manages funds using a cold-wallet system.
Similarly to Bitcoin’s miners receiving rewards for providing security to the network, on the Nexybit trading platform, users are rewarded in NexyZero(NXZ) for trading in the exchange.
Nexybit.com is one of the few exchanges that offer cryptocurrency futures and the world’s first exchange to offer futures trading with trans-fee mining.
Through the Nexybit IEO platform, users will be able to easily access highly vetted projects while project team will be able to run fundraising events on a safer platform with access to a list of verified investors.
Token Trading Fee
- Maker Fee : + 0.1%
- Taker Fee : + 0.1%
Futures Trading Fee
- Maker Fee : + 0.01%
- Taker Fee : + 0.01%
Maker : Makers enter orders and wait for their order to be executed by another trader.
Taker : Takers immediately execute trades on existing orders rather than waiting for their price to be met by other traders.
- Go to ‘Account’ and click the ‘Deposit’ button of the coin you want to deposit.
- You can also select a coin you want to deposit from the drop-down list.
After selecting a coin that you want to deposit, click the ‘Show My Address’ button to either create or check your wallet address of the selected coin.
You will be given a wallet address and QR code. This address allows you to deposit the selected coin into your Nexybit.com account.
If the deposit is completed, you will be able to see the deposit details on ‘Account > Wallet > Transactions’ page.
Go to ‘Account’ and click the ‘Withdraw’ button of a coin you want to withdraw.
Fill the required sections to withdraw coin. The withdrawal fee is added to the withdrawal price and the total is displayed on the ‘Total Amount.’ Please enter the withdrawal address at ‘Destination Address’, and double-check the address again to avoid a wrong deposit. After OTP authentication, your withdrawal will be completed.
If the withdrawal is completed, you will be able to see the withdrawal details on ‘Account > Wallet > Transactions’ page.
Institutional Transaction Fee Rates Policy
- Target: Customers with an average daily transaction value of over $4 billion
- Institutional Transaction Fee Rates: Consultation on whether the institutional transaction fee rates are applicable depending on the transaction amount
- Application Process
- Request [Apply for Institutional Transaction Fee Rates] to Support Center
- Will be announced after an internal review
Nexybit Cold Wallet Security Design and Protocol
Nexybit.com Security is of the utmost importance for a bitcoin exchange. Despite Bitcoin and other cryptocurrencies providing basic security features, applying and architecting a fast yet secure system for hundreds of thousands of users requires careful planning and continuous improvement.
Bitcoin’s security is based on the core Bitcoin private key encryption algorithm. Cryptography academics generally agree that the cryptographic algorithms(SHA256 and EDSA) used in Bitcoin are considered safe based on current decryption capabilities. Although the core technology is considered to be cryptographically safe, the issue regarding private key storage still exists.