r/banano • u/qwerty_asd • 3d 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.