Cryptonex (CXN) is native to the Cryptonex trading platform and the Cryptonex wallet service. A variety of fiat currencies and cryptocurrencies are already supported by the venue, which was designed to make transfers between the two types of currencies speedier.
It is the native currency of the Cryptonex exchange and wallet service, Cryptonex (CXN). The platform currently supports a variety of fiat currencies and several lesser-known cryptocurrencies, all to speed up transactions between fiat and cryptocurrencies. Payment gateways are also available for businesses who want to accept cryptocurrency as a payment method, as well as peer-to-peer trading options.
In the Cryptonex system Overview
One of the world’s most popular cryptocurrency exchanges and wallets, Cryptonex is powered by the coin. For the most part, the platform aims to make it easy for people to buy and sell cryptocurrencies and tokens and pay for products and services using their mobile phones and credit cards.
To acquire Bitcoin, Ethereum, and Cryptonex, customers may utilise fiat currencies such as US Dollars (USD), Euros (EUR), British Pounds (GBP), and Russian Ruble. Visa and MasterCard have accepted payment methods on the site, although using a credit or debit card has a larger transaction cost. Both online and offline transactions may be made using its P2P exchange system, which uses the Cryptonex platform as a guarantee. If you’d instead do business offline, the person who posted the buy/sell ad will choose a location.
The Cryptonex ICO
The CNX currency was sold for 0.0005 BTC or 0.007 ETH at the company’s ICO in September 2017. The ICO offered 85 million CNX tokens for sale. Although the exact number of coins that remained unsold is unknown, the firm has vowed to send them to a cold wallet and “sell to banks in line with demand” as part of their future growth.
More than 55 million CNX tokens are now in use, with a total supply of roughly 107 million as of October 2018. More than 210 million coins are available. The team behind Cryptonex has a stake of 5 million CNX.
An all-time high of over USD 10 for this cryptocurrency was reached in the last days of January 2018, when it was trading at around USD 2. More than USD 117 million in market capitalisation places it in the 56th position as of October 2018.
In addition to Bitcoin and Ethereum, the coin may also be exchanged against various fiat currencies. The following are some of the other exchanges that offer CNX tradings:
Mining for Cryptonex differs from other cryptocurrencies, such as Bitcoin, since it employs Proof of Stake (PoS) instead of Proof of Work (PoW). Cryptonex, on the other hand, favours the word “mining” over the phrase “staking” when referring to PoS mining. As stated on their website, your wallet will earn an annual profit of 12 per cent on the staked amount, as well as any transaction fees that your wallet will verify. Even if you pay a 1% fee to the pool that holds all of your contributions, your yearly return is still 11%.
You must first establish a web wallet for mining rewards, acquire CNX coins, and then transfer the money to your desktop wallet. The deposit incentive is 20% of the amount deposited for a year-long freeze. To be eligible for a daily reward, you must have played for at least one hour. There is no upper limit on the age at which a person may place a bet.
Users of Cryptonex may choose between a nominal and a charged prepaid card. Using any of these to check the balance on your card will not activate it, so you may deposit it whenever you like. Cards with nominals of 1, 2, 10, 20, 50, 100 CNX are nominal cards. As its name indicates, any compatible cryptocurrency may be added to your charged card. This implies that you may use prepaid cards in any jurisdiction to transfer and receive cryptocurrencies in the real world.