What is trust assets trading on Nominex? This is the transfer of cryptocurrency assets of the exchange to its users who, in turn, receive profit from trading with these funds. These assets are credited to the Trust account.
Basic components of Nominex trust trading
A trust account is a wallet on the balance of which the said funds are credited. As a user of the exchange, you cannot withdraw them but you can trade them on the real market (not a Demo mode!).
Currently, USDT bonuses are available on the Nominex exchange in frames of trust trading: prizes in daily Tournaments (USDT rewards) on demo mode.
Funds provided by the exchange are transferred to the user's wallet balance. Such operations are possible through the prize wallet - for the payouts like USDT prizes in Tournaments (Demo Contest Prizes).
The funds are credited for a limited time period on a clear condition for their use within trust trading. If it is not respected, the trust assets bonus is returned back to Nominex exchange, namely: trading activity should be regularly conducted from the account on which the trust funds are accrued.
The regularity of trading activity is prescribed in the bonus terms and is controlled by the system. For this aim, the timer - a special counter - is used. It helps to not only track the duration of USDT prizes allocation and also checks how often the user operates with his/her trust assets. Additionally, the timer helps to inform the user about how much time is left before the prize is returned back to the Nominex exchange.
There is the Scheduled timer on Nominex exchange - that one is started for a specific time period when users receive their trust trading bonus. As soon as this period expires, this counter automatically turns off and the trust management with a prize is concluded.
The scheduled timer can be extended, but only for the Prize wallet by receiving a new USDT prize when participating in the daily Tournaments.
The scheduled timer for the Main wallet counts 30 days, for the Prize one - 7 days.
Trading activities within the Trust trading on Nominex
Nominex exchange entrusts a certain amount of funds for your trading them.
There are two possible situations when you conduct trust trading activity:
1. The trade with an income - then you can withdraw all the profit you gain to your Main Account.
2. You trade with a loss - you do not bear any material or legal liability, however, the entrusted USDT prize goes back to the Nominex exchange.
Moreover, if these trust funds are credited to the Prize account, the user may lose 10% of the sum only, while for the Main account the loss will be 0% of the entrusted funds.
The system recalculates your balance with all your available currencies in USDT equivalent every few seconds. As soon as the amount in your account decreases relative to the initially accrued funds amount, trust funds are returned back to the exchange.
ATTENTION! Trading with trust assets is limited for the following pairs:
BTC: ZEC, DASH, OMG, DOGE, AMB
ETH: OMG, LTC, ZEC, DASH, XMR, XRP
USDT: OMG, DASH, XMR
Trust Trading proceedings completion
You can complete the trust trading on Nominex in the following ways:
A) manually ahead of schedule - use the option “Withdraw profit” or “Deactivate bonus” (depending on the bonus). It is available on the balance page, where a banner with the current amount of user's funds on his/her trust trading account and a button for premature trust trading completion is displayed.
Be also aware that there should be enough funds on the Main wallet balance so that the provided assets could be safely debited back to the exchange. If the user wants to control the amount of his/her profit from trust trading, then before the TT procedure is completed, there is needless to provide the necessary amount of USDT funds on the correspondent account. All non-USDT balances are to be sold by the exchange by placing the market orders in USDT.
B) if the scheduled timer has expired
C) if the sum of trust funds on the balance was decreased by a certain percentage or amount of USDT.
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