They are Betting on the price, so you don’t buy the coin, I assume it’s ETH in ETH out kind of thing. It’s pure gambling. “the house always wins”.
It’s like Bitmex (I assume, Will never put my money on a place called tokok which looks like gambling place from the 90’s).
They can say NEX= 1000$, some dude will gamble long one will gamble short, both and the house must cover the position. After NEX start trading, they will have to settle by some index that will dictate who wins and who gets reckt.
The ‘signup immediately get 1 BTC’ advertisement is already a reason to stay far away from it:
Yeah you are probably right, I removed it now. Such a weird site, I signed up to take a look at it. surprised to see i had 1BTC as my balance. Then i saw the “sign up and get one BTC”. Its some weird gimmick where the 1BTC counts towards ‘interest’ you can earn using the site.
Would never risk using a site like this. You can trade between NEX holders for NEO at about the same price
Very sketchy indeed. The 1 BTC will first be frozen and then you’ll have to pay interest over it? Or do you earn interest over it? Would be a bit weird if you earn interest over something that’s not yours.