What Is NakamotoX Cryptocurrency Exchange?
Based in the Czech Republic and registered in the United Kingdom, NakamotoX claims to be the next generation digital asset trading platform. It is currently in Alpha release and invites users to test the various features on the platform and participate in a trading contest.
As described by the NakamotoX team, “NakamotoX has a simple and easy-to-use interface that ensures a straightforward trading experience for beginning and advanced traders. The exchange is also fully responsive [and] is available on all desktop and mobile browsers with Android and iPhone apps coming soon.”
NakamotoX’s goal is to provide the highest quality, low fee and maximum user-friendly interface experience (simple enough for beginners, customizable for professionals. The state of the art technology stack comes with the utmost reliability and security currently possible. The team believes that their experience in digital assets trading and strong technical background leads them to full commitment to our mission to become the largest exchange for crypto currencies in the world.
The platform has been built completely from scratch with a field-tested matching engine able to handle hundreds of thousands of trades without any lags or unresponsive UI. Even though it’s not fully decentralized, the platform is going to offer some decentralized features, which will be introduced later on.
Features include high security standards, built with the fastest and most reliable trading engine capable of handling transaction rate of 1M/s, complete data encryption and storage in accordance with GDPR, voluntary adoption of EU AML directives, completely decentralized infrastructure, all risk engine procedures derived from standard banking systems, instant settlement processing as per predefined verified limits, extended support and fiat withdrawal options.
NakamotoX Cryptocurrency Exchange Security
NakamotoX takes a comprehensive, while somewhat conservative approach to security. It has built in a number of sophisticated measures to prevent the theft of money or information and it also recognizes how essential it is for a professional exchange to offer financial stability, with full reserves, healthy banking relationships and the highest standards of legal compliance.
All new deposits are immediately moved to offline cold storage and the wallets are encrypted. Only a finite amount of coins required to maintain operational liquidity are stored in hot (online) wallets. User accounts are secured with 2FA, PGP/GPG for email encryption and email signature/verification and all sensitive account information is encrypted. Various other measures are also to be implemented to ensure system and financial security and transparency of the exchange’s finances.
NakamotoX’s legal approach is to operate conservatively, entirely within the bounds of the current law, and to constantly monitor regulatory developments. Compliance measures are designed by a five-member team of legal advisors, including a full-time General Counsel who is responsible for constantly evaluating legal stance in the face of regulatory developments.
NakamotoX Cryptocurrency Exchange Alpha Contest
For the initial launch of the platform, 10,000 users will be invited to participate in a contest. All users will have access to a test account with preloaded balance of various cryptocurrencies and a fiat balance. At the end of the Alpha testing phase, 5 users who most gainfully increase the value of their portfolio will receive awards ranging from 1 Bitcoin for first place to a TREZOR hardware wallet for 5th place.
As a way of showing gratitude for participation in Alpha testing, all active participants will get special benefit which will be voted upon for trading during follow up Beta version. The final structure of trading fees will be announced during Alpha version. The primary purpose of the Alpha is to obtain feedback on the platform’s performance and the identification of defects.
To be eligible to participate in the the Alpha test phase, users must be 18 years of age or older and have the capacity to contract under applicable law. Entry into the Alpha and Contest is free. No purchase of any service and no payment is necessary in order to enter the Alpha contest. Participants cannot enter the contest with more than one email address. In the case of multiple entries, the participant may be disqualified from participation at the sole discretion of NakamotoX.
Users can request an invite to test the Alpha release at: nakamotox.com/
The Team Behind NakamotoX
- Jiří Fiala – General Manager
- Kamil Brejcha – Operations Manager
- Radim Kozub – Compliance
- Pavel Urbaczka – Compliance
- Jiří Procházka – Financial Manager
NakamotoX Cryptocurrency Exchange Verdict
NakamotoX talks the talk, hitting all the right notes when it comes to being a secure, solvent, reliable cryptocurrency exchange. It remains to be seen if it can walk the walk. Early signs are promising.
