With the launch of the NuMoney Exchange on 6 April 2018, the team has spent the past few months testing and fixing the online exchange to ensure that all the security measures that were fitted into the system are working well and that the entire online exchange is running smoothly. After the first public testing with those who signed up as early testers of the exchange, NuMoney has gone through great lengths to ensure the safety and the efficiency of their new online exchange.
Along with the hard work of the team, NuMoney’s upcoming exchange has been featured in many online articles and reports as a new way to buy and sell cryptocurrency. The public has expressed excitement to the new fiat-reliant exchange, especially after the many reports of exchanges shutting down due to being too reliant on banks.
To combat the slow verification processes and the fear of banks shutting down the numerous exchanges in the market, NuMoney will accept fiat in/out without the facilitation of banks. This is made possible by storing their cash in cash vaults – just like a bank. This ensures that NuMoney would be able to carry on operations by allowing customers to deposit/withdraw cash at NuMoney retail stores.
NuMoney’s support for Alt-coins pushed them to launch with ETH/SGD as the first pair on the online exchange. This would simplify the usual second-hop to another exchange (such as Binance) to get Alt-coins, and therefore reduce the overall transaction fees as well.
Following the launch of the exchange and their first ETH/SGD pair, it would be the NMX Initial Exchange Offering (IEO) launch. This would be the period of time where NuMoney will be rewarding those who have promoted and helped with the funding of the exchange through NMX. The IEO launch would then make way for Bitcoin and Litecoin to be added to the exchange in April, followed by Ripple in May and Monero in June 2018.
Cash Withdrawals in NuMoney would also be fixed at a flat fee of $2 for every withdrawal instead of a percentage. Along with the new online exchange, NuMoney’s new customer care retail stores in Singapore, Malaysia and Indonesia would make it easier for users to seek customer support in their country. This would be very beneficial for those who are not as IT savvy, providing a place for them to go to seek help where needed from their experienced staff.
Source: Bitcoin Isle