I’ll be speaking here as a Nash user who is under a location restriction (Canada) but could apply to others that can stake, but not trade.
In here you’ll see that Tier 0 (those who never KYC) have a trading limit of $5000 a day and $30,000 a month. I think this is more than reasonable and allows those to do some basic trading. No issue here, but for those that have KYC’d in order to stake, we cannot trade even $1 on the exchange.
Where the issue really shows up is with the dividends of staking NEX. I have coin dust in a lot of channels and even if I reach the threshold to withdraw NOIA or LINK, it would require an ETH fee for every coin. Its been discussed of having a “Convert all to USDC” button, but that does no good to those that can’t legally use the exchange portion.
How can we fix this? Understanding that the laws of my country of residence dictates if I can and can’t trade, but if I open a second account, and never KYC, I can trade up to $5000 a day? Of course this doesn’t fix my issue of the dust in the channels.
I know there is an explanation but it seems a little backwards. Can we find a way to apply the same low daily trading limits to the restricted KYC accounts?
Easy for me to say since I can trade, but in my opinion: we don’t.
By the time dividends grow to an amount you really want to withdraw, Nash will likely be in a better position to consider expanding geographically or even will have done so already.
So my advice is just: lay back and wait
That’s a good question. I don’t have the answer, but I’m afraid if it was a possibility Nash would have taken it.
Revolut just closed their doors in Canada so I’m not optimistic Nash will be in my country any time soon. If we can’t trade the dust or convert, we’re left to wait until the withdraw is much more than the fee. This is for every coin.
I know there will be a solution one day, but the work around for now would be to allow KYC restricted Tier 1 to even do $100 a day. And when I break the need for more than $100 a day… well that will be a great problem to have
