FAQ

Here's everything you need to know

What is Nimex ?

Nimex is the first dedicated exchange to trade NIM using Ethereum. We plan on integrating more currencies in the future as things progress: BTC, LTC and NANO.

How did Nimex come about ?

We’ve been following the progression of Nimiq since it was first announced on hckrnews and we’ve been following along ever since. With lack of exchanges to easily and securely exchange NIM we decided to build a simple (UI & UX) and intuitive exchange for the community to use.

Who are you ?

We're a team (2) of developers based in Canada and we have a combined 25 years experience building highly scalable and secure SaaS applications. We also have experience in the fintech space and an active equities day trader.

What about security?

Nimex might look simple on the surface but it’s actually quite complicated at heart. We've tried to build a highly secure exchange since we have a lot of experience in this space. We will like to keep part of our process private but we will discuss what we can openly. When you create your account on Nimex, your account is salted, encrypted and stored securely in a data store. Everytime you login and withdraw funds, a secure code will be sent to your email address.

Using that code and your password your account will then be decrypted and stored in memory for a set amount of time after that you will need to re-authenticate. You might notice you have to wait 5-10 minutes before your deposit address is available for newly created accounts.

This is because parts of our system are isolated and replicated differently (web, datastore, resource nodes, accounting). Some parts of the system are not accessible to the internet and others are accessible from a single entry point secured with a pub/private key. So even if our web app and database is compromised; your funds will still be safe and it’s just a matter to migrating to new servers. This is the part we can share.

How do I access the Faucet ?

Wan't to earn some free NIM? You'll need to be a registered member to access the faucet. To register, first join our Discord and request for an invitation code. After that, you can create an account and access the faucet.

What is your roadmap?

We plan on integrating a charting system as things progress, we figured it wasn’t a deal breaker at launch. Also as mentioned earlier we plan on integrating more currencies in the future.

What mining pool do you recommend?

If you didn't know, you can also acquire some Nimiq by mining via your browser or a natively on your computer for faster hashrates. Joining a mining pool is the recommended approach to receive a reward faster. We would recommend Sushipool which provides various mining clients for different machines and easy to setup.