Using NEX for payments

(Toni R) #22

What Nick said is true. After the AMA, Fabio said that fees would be collected only from crypto to crypto.

(Dennis) #23

Mmh I might re-think now about stacking lol

(TAT3AN) #24

@canesin could we get some clarification on this? I think most of the community was under the understanding that the sharing of fees would come from the exchanges in the API as well as the fiat conversion among other things and not just direct crypto to crypto trades. Not that it changes my perception on NEX but I haven’t heard anyone mention otherwise before.

(Aman) #25

@ethan Could we get a clarification here?

(CryptoUK1) #26

My understanding was that fiat on and offramp transactions that are handled solely by the third parties won’t provide any fees.

Hope the team put out an article at some point outlining where all fees will come from.
Not only for us holders, but for wider community to know as well

(Trust Yourselves ) #27

I remember asking the team about this a couple of months ago. They all ignored the question. They don’t want to answer it.
Their whitepaper clearly states fees from exchange and payment service are included in staking payouts.
So if they don’t pay staking rewards for this the they’re going against their whitepaper

(CryptoUK1) #28

@Trust_Yourselves There’s been nothing to suggest that isn’t the case. We just need to have it fully explained as fees could possibly come from a wide range of nex features/services.

Will come in due time no doubt. Team is obviously very busy right now

(Nex 4 Ever) #29

I just need an official confirmation from NEX team. Not more not less. In my view for the years to come fiat to crypto and vice versa will generate more buzz than crypto to crypto. Especially when bull run kicks in.


yeah…to date we’ve had to go the crypto to crypto (to buy most coins / tokens)
that might all change soon. lets hope nex stakers can be part of the fiat to crypto shift (still investing in Nex either way though)

(Seidler) #31

From the WhitePaper:

4 NEX Token
The NEX token allows holders to claim a share of fees generated by the payment service and
exchange. In total, 50 million tokens will be issued that entitle holders to a share of the fees taken by
the exchange and payment service

I understand that the payment service refers to FIAT, so we should receive fees

(Trust Yourselves ) #32

Yes. We should. But why are the team not responding to this thread

(Fvivif) #33

Following this thread for a few days now hoping NEX would reply regarding the staking rewards.
The whitepaper made me think we also got rewards from the fiat gateway. The fact that NEX is ignoring this question everywhere concerns me and make me think twice about staking.
Don’t get me wrong, i’m still love NEX, but just be clear about this.

(Seidler) #34

We need confirmation, you are correct

(Greekscreamer) #35

I think stakers will recieve dividents only for actions that involves the matching engine. depositing monay does not envolves the matcing engine but paying with crypto one store and this store recieves fiat evolves the matching engine, thats how i see it, really small part of the exchange dosnt involve the matching engine.
So the whitepaper say it right… dividents from payment services and exchange.

(Seidler) #36

I dont understand why no one from the team is replying.
They said they are monitoring the community and see them replying to other posts…this gives me a bad vibe

(Greekscreamer) #37

Be patiend i am sure they will reply. Maybe they want to edit it so it will be nice and clear couse its an important issue. i think some examples from the team would be great.

(Aman) #38

Yes Point 4. NEX Tokens clearly mentions NEX token allows holders to claim a share of fees generated by the payment service and exchange.

(Seidler) #39

But Payment system might mean API.
Like you purchase x token for x token using the API… API might be the trading system.

(Xen) #40

I think it’ll be the API, also the payment service right? I’m not quite sure. :sweat_smile:

(Seidler) #41

If lets say I purchase BTC using NEeonExchange, that BTC will come from the exchange, someone will sell BTC one will buy BTC…all while paying exchange fees.

Now, if I want to deposit FIAT, no fees will be payed to the exchange.

The other “services” he might mean… ICO, Fiat gateway, transffers etc…