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How NBX is leading the way with a customer-first mentality

Adam Jakobsen
November 8, 2023
3 minutes

Since our inception during the 2018 bear market, NBX has strived to always put our customers' needs and security above and beyond everything else. Compared to our competitors NBX offers the lowest staking fees, best in practice AML-procedures and remains one of the most transparent exchanges out there. All this helps to protect and  ensure that our customers can enjoy a platform with low fees on our services, high security standards and a highly mitigated risk of unpleasant surprises.

In fact,, a leading crypto analytics firm specialising in risk associated with exchanges ranked NBX as the top european exchange and 6th overall worldwide. Not only do we rank higher than our European competitors, but we also rank higher than all of the top 100 exchanges which includes the ones we all know the names of. Hoptrail analyses (in-depth) all aspects of an exchange to ensure and highlight those exchanges which are best in practice when it comes to AML. This ranges from source of funds, destinations, counterparties involved, high risk transactions, e.g. Though you as a legitimate cryptocurrency user might not be interested in this AML leaderboard, it nonetheless makes certain that NBX is the least likely European exchange to get caught up in any inconveniences when it comes to AML. You are in other words certain that with us the Bitcoin, Ethereum or Cardano you buy in the NBX app originates from a legitimate source.

Furthermore, NBX is a publicly listed company on Euronext Oslo (ticker NBX) which helps make sure that we follow a higher degree of transparency and compliance when it comes to our financials. As “Proof of Reserves” became the talk of the town in the aftermath of FTX, our C.E.O was quick to point out that exchanges publishing documentation of their holdings means very little if they simultaneously refuse to publish the liabilities they hold. As a publicly traded company and by being registered with the Financial Supervisory Authority of Norway, both sides of our equation are for anyone to see. Better yet, our founders and management have an out of the ordinary successful background when it comes to starting and operating big companies such as Norwegian Air Shuttle just to name the obvious one.

A year ago, NBX launched Cardano staking on the NBX platform. As a staking custodian, NBX only takes a  5% cut of the rewards which is barely anything compared to our competitors. We chose the low percentage cut to incentivize staking through our platform and have users learn more about staking instead of taking an unnecessary high cut just to leave our users with less Cardano in their wallets. The same mindset, a customer-first mentality applies when it comes to our recently launched Visa credit card with Bitcoin cashback. Here, we chose Bitcoin as the only cashback reward instead of some arbitrary token which would be cheaper on our end. Where other exchanges offer a maximum of 1 or 2% cashback in Bitcoin including what we consider to be unreasonable demands along with it (e.g forced staking), we offer up to 4% with no strings attached once you have been rewarded in Bitcoin. The Bitcoin you earn while using our Visa credit card is yours to decide what to do with. You can read up on our credit card here.

Nominal interest rate for cash withdrawals is 24,5% and for

purchase/retail 23,5%.

Effective interest rate 26,37%, based on the following example:

Credit amount NOK 20000 (purchase/retail)

Nominal interest rate for cash withdrawal 24,5% p.a.

Nominal interest rate purchase/retail 23,5% p.a.

Establishment costs NOK 0

Repayment period 12 months

The total amount to be paid is NOK 22652.

NBX is a registered financial agent on behalf of Nordiska Financial

Partner Norway AS. NBX Visa credit card issued by Enfuce. Visa® is a

registered trademark of Visa.

Lastly, we hope that doing things right by our customers will result in other exchanges following our example, thus making the crypto sphere a safer place for newcomers to venture into.

This text is intended to inform and is not an investment recommendation.

Best regards,
Adam Jakobsen.
NBX Team.

Adam Jakobsen
November 8, 2023
3 minutes
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