Noones Review: Is it Legit? Fees, Payment Methods, Tips
Petar Jovanović
Noones is a new platform that is offering a solution for Paxful traders who are looking for a platform to continue trading their tokens and digital assets.
With the recent news of Paxful shutting down due to legal and regulatory issues, traders have been scrambling to withdraw their assets. Noones is positioning itself as the new platform to take over from Paxful and other failing coin trading platforms.
What you'll learn 👉
Noones: A Paxful Clone?
Noones is a platform that has been suggested to Paxful users who need to withdraw their funds and migrate to other platforms due to a shutdown notice. Users have been giving feedback on the Noones website, with some claiming that they were able to login with their Paxful details.
The writer of this review confirmed this by successfully logging in to Noones using their Paxful email address and password. Interestingly, their profile details, verifications, and feedback were replicated on the Noones platform.
There seems to be some affiliation between Paxful and Noones, with speculation that Paxful CEO, Ray Youssef, may be involved in the development of Noones as a backup platform.
Is Noones A Legit Trading Platform?
Noones is a new digital trading platform and there is limited information available about them. It appears that they may be a clone of Paxful, as they have connections with Paxful user data and the Paxful CEO has recommended users to migrate to Noones. As Paxful is considered a legitimate platform, it is possible that Noones may also be legitimate.
However, there are still many questions about whether it is wise for digital coin traders to switch to Noones at this time. It is uncertain if Noones is capable of continuing the positive reputation that Paxful has established over the years, or if they are simply trying to take advantage of Paxful’s decline. Ultimately, only time will tell if Noones can create its own reputation and prove to be a legitimate platform for digital coin trading.
Who is behind the platform?
Noones, a financial communications app aimed at empowering financial freedom in the Global South, has been launched by a team of Bitcoin entrepreneurs.
The founding team comprises Nicholas Gregory, CEO of CommerceBlock, and Yusuf Nessary, co-founder of the Built With Bitcoin Foundation. They firmly believe in the power of peer-to-peer trading and the app will combine a messenger for peer-to-peer trades with a Bitcoin wallet operating at cost, and a peer-to-peer marketplace.
The app is pro-human, pro-trade, and pro-Bitcoin, with a mission to unleash the true power of the Global South and end economic apartheid using Bitcoin.
The team hopes that Noones will help unite the region with communications, payments, and a store of value. The app is not available for users in the United States or any other country on their blocked countries list due to regulatory restrictions.
Noones Fees
Trading Fees
| Payment Type | Sell | Buy |
|---|---|---|
| Bank Transfers | 0.5% | no fee |
| Credit/Debit Cards | 1% | no fee |
| Digital Currencies | 1% | no fee |
| Online Wallets | 1% | no fee |
| Cash | 1% | no fee |
| Mobile Money | 1% | no fee |
| Gift Cards | 5% | no fee |
Fees for Sending and Receiving Bitcoin
| Wallet Type | Send | Receive |
|---|---|---|
| External Wallet | $0 – $49.99 = $0.5 fee | no fee |
| $50 – $99.99 = 1% fee | ||
| $100+ = $2 fee | ||
| Internal Wallet | no fee |
Noones Payment Methods
There are 400+ ways for you to buy and sell cryptocurrency on Noones. While some payment methods may be restricted based on where you live, you’ll still have plenty of ways to trade in Noones marketplace.
Some of the most popular payment types include:
- Bank transfers (ACH, wire transfers, etc.)
- Credit/debit cards
- Online Wallets (PayPal, Skrill, Neteller, etc.)
- Gift cards (Amazon, iTunes, Visa, etc.)
- Altcoins (Ethereum, Litecoin)
Noones Platform and Legalities
The acquisition of Paxful users’ data by Noones raises legitimate questions about the legality of the situation. With the ongoing legal battle between Paxful’s CEO and co-founder, the company has lost key staff and engineers, leaving it in a vulnerable state.
If Noones were to acquire this data, there could be concerns of data breach or theft. Additionally, there is the possibility of Noones becoming embroiled in the legal tussle and losing legitimacy. These are important issues that require immediate attention and resolution.
Tips when using P2P exchanges
| 🔍 P2P Trading Platforms | Pricing | Features | Pros | Cons |
|---|---|---|---|---|
| 💰 Fees | Small fee per trade | – | – | – |
| 🔐 Escrow Wallets | – | Separate digital wallet controlled by the platform | Secure transactions | Requires extra wallet management |
| 🔑 Burner Account | – | Protects personal information | Enhanced privacy | Extra management effort |
| 🔒 Burner Wallet | – | Unique wallet for P2P trades | Privacy, easy accounting | Extra setup |
| 🚩 Red Flags | – | Beware of too-good-to-be-true offers | Avoid scams | Requires vigilance |
| 🚷 Stay on P2P Platform | – | Monitored chat, mediator | Secure communication | Limits conversation channels |
| 🌟 Social Proof | – | Seller reputation system | Helps identify trustworthy sellers | Potential for fake reviews |
| 📊 Smaller Amounts | – | Limits exposure | Build confidence and reputation | Slow accumulation |
| 💬 Trust Chat | – | Filter out scammers | Protects from scams | Takes time and patience |
| ❌ Don’t Cancel Orders | – | Avoid loss of funds | Escrow protection | Requires diligence |
| 🚫 No Escrow = No Go | – | Require escrow for safety | Avoid scams | Limits trading options |
| 🤝 Moderators | – | Resolve disputes | Helps with disputes | Requires proof and documentation |
| 🤝 Build Relationships | – | Favourite sellers | Increased safety, potential discounts | Don’t let your guard down |
Conclusion
In conclusion, while I may have my own personal reservations about using Noones at this time, it cannot be denied that the platform is thriving and attracting a large number of new users.
In fact, even some of the biggest traders on Paxful have already made the switch to Noones and are bringing their clientele with them. If you’re in the market for buying, selling, or trading any digital asset, it may be worth taking a look at Noones and evaluating whether it’s the right fit for your needs. Ultimately, the decision is up to you.
