namebase

Overview of namebase

Namebase is a virtual currency exchange platform based in the United States. It was founded in 2019 and operates without specifying a regulatory authority. Namebase is a registrar for Handshake domains and an exchange for Handshake coins (HNS). It supports BTC and HNS deposits (and USD in 4 weeks), BTC and HNS withdrawals (and USD). It is registered as an MSB with FinCEN. Namebase customers can use their HNS to bid on and use Handshake domain names.

Pros and cons

pros:

Wide range of cryptocurrencies available: Namebase supports a variety of cryptocurrencies, giving users the opportunity to explore and invest in different digital assets.

Supports a variety of payment methods:Namebase supports a variety of payment methods for depositing and withdrawing funds, including credit cards, debit cards, bank transfers, wire transfers, and cryptocurrencies.

24/7 customer support: Namebase provides round-the-clock customer support via email, phone, and live chat. This allows users to receive timely assistance and address any issues or concerns they may have.

cons:

Not regulated: Namebase is not regulated by any regulatory authority, raising concerns about the transparency and oversight of the exchange.

Limited educational Resources: One notable drawback of the trading platform Namebae is the absence of comprehensive educational resources for users.

Regulatory Authority

Namebaseis not regulated by any regulatory authority, which may raise concerns about the transparency and oversight of the exchange.

Unregulated exchanges lack the oversight and legal protections provided by regulatory authorities. This can lead to a higher risk of fraud, market manipulation, and security breaches. Without proper regulation, users may also face challenges in seeking recourse or resolving disputes. Additionally, the absence of regulatory oversight can contribute to a less transparent trading environment, making it difficult for users to assess the legitimacy and reliability of the exchange.

Security

Namebase prioritizes the security of its platform and implements various protection measures to safeguard user assets. These measures include:

1. Encryption: Namebase utilizes encryption technology to secure user data, such as personal information and transaction details. This helps protect against unauthorized access and data breaches.

2. Two-Factor Authentication (2FA): Namebase offers the option for users to enable 2FA, adding an extra layer of security to their accounts. This authentication method requires users to provide a secondary verification code or token in addition to their password, reducing the risk of unauthorized access.

3. Multisig Wallets: Namebase employs multisig wallets, which require multiple signatures or approvals to authorize transactions. This adds an additional level of protection against fraudulent transactions and unauthorized fund transfers.

Cryptocurrencies Available

The Namebase trading platform offers a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Solana, Cardano, Polkadot, Avalanche, Terra, USD Coin, and Binance Coin. These cryptocurrencies are all traded against the US dollar. Besides, HNS is also available on the Namebase trading platform.

How to open an account？

The registration process for Namebase can be completed in the following six steps:

• Visit the Namebase website and click on the “Register” button to begin the registration process.

  

2. Fill in the required personal information fields, including your name, email address, and password. Ensure that the password meets the specified security requirements.

3. Agree to the terms and conditions by checking the relevant box, indicating your acceptance of the platform's policies and procedures.

4. Complete any additional verification steps, such as providing identification documents or proof of address, as required by the platform.

5. Verify your email address by clicking on the verification link sent to the email you provided during registration. This step is necessary to activate your account.

6. Once your account is activated, log in using your registered email address and password to access the full features of the Namebase platform.



Fee

Trading fee

Namebase charges a maker-taker fee structure for trading cryptocurrencies. This means that you pay a different fee depending on whether your order is filled (maker) or takes the order of someone else (taker).

• Maker fees: are paid when you create an order that is not immediately filled. This type of order adds liquidity to the market, so it is rewarded with a lower fee. The maker fee at Namebase is 0.10%.

• Taker fees: are paid when you create an order that immediately fills an existing order. This type of order takes liquidity away from the market, so it is charged a higher fee. The taker fee at Namebase is 0.20%

Deposit Fees

The deposit fees vary depending on the deposit method used. For example, bank wire deposits incur a 1% fee, while credit card deposits incur a 3.5% fee.

Withdrawal Fees

The withdrawal fees vary depending on the withdrawal method used and the cryptocurrency being withdrawn. For example, Bitcoin withdrawals incur a 0.0005 BTC fee, while Ethereum withdrawals incur a 0.004 ETH fee.

Minimum Deposit and Withdrawal Amount

The minimum deposit amount for bank wire and credit card deposits is \$50. The minimum withdrawal amount for bank wire and credit card withdrawals is \$100. The minimum withdrawal amount for cryptocurrency withdrawals varies depending on the cryptocurrency being withdrawn.

Payment Methods

Namebase supports a variety of payment methods for depositing and withdrawing funds, including credit cards, debit cards, bank transfers, wire transfers, and cryptocurrencies.

Credit cards and debit cards are the fastest payment method, with transactions typically being processed within minutes. Bank transfers and wire transfers can take up to 24 hours to process. Cryptocurrencies can take anywhere from a few minutes to a few hours to process, depending on network congestion.

Educational Resources

Namebase lacks educational resources, which can make it difficult for new users to learn how to use the platform and trade cryptocurrencies.Some of the educational resources that are missing from Namebase include: a comprehensive user guide, video tutorials, live webinars, blogs and etc.The lack of educational resources on Namebase can make it difficult for new users to learn how to use the platform and trade cryptocurrencies. This can lead to mistakes and losses, which can discourage new users from trading.

Is namebase a Good Exchange for You？

For Namebase, which does not provide specific information about its trading groups or target market, it can be challenging to analyze the trading groups that would be suitable for this platform. However, based on its general features, there are a few potential target groups that may find Namebase appealing:

1. Cryptocurrency Enthusiasts: Namebase may attract individuals who are passionate about cryptocurrencies and want to explore a wide range of digital assets available for trading. These enthusiasts may value the opportunity to discover unique and lesser-known cryptocurrencies on the platform.

2. Experienced Traders: Namebase's lack of detailed information on fees, payment methods, and customer support may make it more attractive to experienced traders who are comfortable navigating the complexities of cryptocurrency trading on their own. These traders may be willing to take on the risks associated with a platform that provides limited information.

Conclusion

In conclusion, Namebase is a virtual currency exchange platform based in the United States. While it offers users the opportunity to trade various cryptocurrencies, it has several disadvantages that potential traders should consider. Namebase operates without specifying a regulatory authority, which may raise concerns about its compliance with regulations and oversight. Additionally, Namebase does not provide specific information about its security measures or educational resources and tools. However, for individuals who prioritize privacy and are experienced in navigating the complexities of cryptocurrency trading, Namebase may offer a unique trading experience. It is important for traders to conduct thorough research and due diligence before using the platform.

FAQs

Q: What regulatory authority does Namebase operate under？

A: Namebase operates without specifying a regulatory authority, raising concerns about compliance with regulations and oversight.

Q:Where is my HNS？

A: Your HNS transfers take 20 blocks to confirm whereas BTC-HNS purchases take 6 blocks to confirm. Reminder that 1 block time is 10 minutes, so HNS transfers can take 3-4 hours wheras BTC-HNS purchases take about an hour.

Q:How do I change my email address？

A:We can do this manually for you. Please email support@namebase.io from your Namebase account's email address.

Q:How do I reset my 2FA？

A：We can do this manually for you. Please email support@namebase.io from your Namebase's account email address with your 2FA reset.

User Review

User 1: I've been using Namebase for a while now, and I have mixed feelings about it. On one hand, the platform offers a good range of cryptocurrencies for trading, which is great for diversifying my portfolio. The interface is also user-friendly and easy to navigate. However, I've had some concerns about the lack of regulation and transparency. It would be helpful if Namebase provided more information about their security measures and fees. Also, the customer support is not very responsive, which can be frustrating when you need assistance. Overall, it's a decent exchange, but I would recommend doing thorough research and being cautious before investing.

User 2: I've had a positive experience using Namebase so far. The platform provides a good level of privacy and data protection, which is important to me. The deposit and withdrawal speed is fairly quick, and I haven't had any issues with my transactions. The trading fees are also reasonable, and the liquidity seems to be sufficient for the cryptocurrencies I've traded. The exchange stability has been reliable, and I haven't experienced any significant downtime or technical glitches. Overall, I find Namebase to be a reliable and secure platform for trading cryptocurrencies.



Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.