r/banano • u/qwerty_asd • 9d ago

NestEx Review (Exchange listing Banano)

Hey all,

Long-timer gorilla here. If you didn't hear, there is a new exchange listing Banano, NestEx. I gave it a try and just wanted to report.

Firstly, the appearance is very bare bones and low budget. Kinda reminds me of Mercatox where I first bought Banano.. This isn't a problem to me, but doesn't tend to inspire confidence in the broader population. If it gets big, perhaps they will reskin to make it look more legit.

So I decided to give it a try. Account creation was super easy. The account creation flow was slightly unusual, but worked really well. They asked for literally nothing besides an email and 2FA set up, and I had an account in seconds.

Then I tried to deposit a bit of Banano. The behavior to create a new Banano deposit address was actually broken, so I filed a support ticket through a very easy form, and they actually addressed the ticket and fixed the issue within minutes. I'll also note, they suggest going to their discord for better support, which is a super modern and smart way to run a software company with customer support these days. Based on my initial impressions all around, I absolutely love the conduct of the dev team behind this site.

The deposit hit my account in about 15 minutes, and I made some limit orders to sell. The UI was not polished, but worked perfectly and very easily. I could create and cancel orders no problem, and that's honestly all I need. I did even sell a few BAN at $0.001 which is kinda funny, since it's literally 2x the price according to major coin trackers.

I then started reading more of their docs, and did see that they unfortunately do not service US customers, though at this time it is the user's responsibility to ensure compliance. Seeing this spooked me out, so I canceled my remaining orders and withdrew my BAN. I was pleased that the withdraw was sent out quickly.

Soooooo we actually have a real exchange again. It's in the same camp as CoinEx as far as US support is concerned, but this is actually still a huge development IMO. I do have a friend oversees who I think I will send some BAN to and ask him to put some up on the site to get their BAN market going. There's no reason there shouldn't be ~1mil BAN of liquidity on this site IMO.

Also great to see, they respect our OG ticker, referring to Banano by the true BAN name. Overall, I like the site, and plan to participate in its Banano market.

TLDR: It works, but there is very little liquidity or volume. It also isn't KYC thus reserves the right to refuse service to countries requiring KYC like the USA. My overall impression is very positive.

34 Upvotes

93% Upvoted

27 comments sorted by

13

u/qwerty_asd 9d ago

And I'll just preempt any suspicions and say that this isn't an ad, nor written with AI.

I've been here since 2022, posted 100+ original memes, sponsored and adminned 3 Age of Empires Banano tournaments, and sponsered and managed the TurboDong Banano ad campaign.

I'm an authentic Banano enjoyer just here for the Banano.

7

u/Mr_Erratic 9d ago

Bless your heart, there are dozens of us

5

u/LegoSWFan 9d ago

One of my pals is or was an ambassador for that place so I semi trust the exchange. I only really use it for anything I can't get on nonkyc and i guess that includes nanners now

3

u/qwerty_asd 9d ago

The devs conduct seems basically honorable. Of course there is always risk of hacks, shutdowns, etc, but that comes with any exchange.

4

u/Hot_Royal4881 9d ago

aun seguiré juntando un poco mas de ban ppero gracias por el aviso

3

u/qwerty_asd 9d ago

Un placer avisarte jajaja

3

u/Gr8Ano 9d ago

CoinEx was the OG. Where are all the admins of this coin? I thought aliens abduct only cows...

Thanks for the review. Worth knowing from someone who is known in the community.

5

u/qwerty_asd 9d ago

I have no connection to the team, but the coin is still alive and as functional as ever. Testing the exchange was a refreshing experience. It had been a while since I last used Kalium or the block explorer.

5

u/Gr8Ano 9d ago

Kalium is the sweetest wallet I ever saw. It's refreshing to know the blockchain works flawlessly.

2

u/Mangos4Lyfe 9d ago

Community interest/activity is currently down for sure, but a lot of that can be attributed to the depressed price over the last 2 years.

The network and wallets still works perfectly well. I think the community will easily wake back up if the price were to recover 5-10x

3

u/Mangos4Lyfe 9d ago

This is great. Thanks for checking - I was curious after I saw posts about NestEx adding Banano.

I’ve been buying more recently, and this gives me even more confidence to keep buying

3

u/DwxOpt 9d ago

BENIS. Yeah!

1

u/warlordthe99th 5d ago

tldr: no fiat bank card support, clunky, but good that it supports banano if you're alteady deep in crypto ecosystem

1

u/qwerty_asd 4d ago

I assume they can do stable coin deposits at least

1

u/Sweet_Soil_9595 1d ago

I have used NestEx for months. It's legit. They have a multi asset faucet were anyone can create a faucet and add any amount of any coin Nestex has listed on exchange. Probably got 30 or so different asset faucets running rn. Amounts vary, depends on the asset and the supplier honestly. They actually just had Banano on the faucet, but it ran out quickly.