Inanomo

Inanomo is a technological platform offering storage and trading of cryptocurrency assets “in one package”. Inanomo is a Russian cryptocurrency platform offering trading and asset storage.

The company was founded in 2015 but has been represented in the cryptocurrency industry since 2018. The founder and director is Kirill Sadilov. In the review, we will find out if the crypto exchange is not a scam, and if Inanomo is worth trusting.

 

Why Inanomo?

The company has several products:

• Wallet. Inanomo calls its wallet “the safest place to store cryptoassets. This vault is designed according to the Multi-sig principle. That is, one transaction requires verification by several independent master keys at once. Provided the master keys are stored cold, this is a really secure technology.
• Marketplace. This is the name of the trading platform at Inanomo. It allows you to exchange and buy more than thirty cryptocurrencies. Fiat is available. A total of 100 currency pairs are supported on the exchange.

Also on the site inanomo.com there is a section called “Investments”. But it is not ready yet. Nevertheless, the section says that “soon it will be technological here. Until 2018, Inanomo offered trust management of assets. It wasn’t related to cryptocurrencies. The service was positioned as a team of experts using a unique methodology. Now there are no such offers on the firm’s website. But you can find screenshots of the old site on the Internet.

Financially literate investors are confused by several things. First, the company promised an annual yield of up to 45% – this is an inflated rate, greatly exceeding market rates. For comparison, between 2015 and 2016, the Central Bank’s key rate fluctuated between 10 and 17%. Second, while promising high profits from investments, the company did not disclose details of the strategy and did not explain where such profits come from. Information about the way of earning is described only in general phrases like “unique strategy”, “proprietary methodology” and “know-how”. Third, the official sources change the date of the company’s foundation. The cryptocurrency exchange was created in 2018, yet it operates as a legal entity created in 2015. Screenshots from the Internet Archive show that on the old website, the company’s founding date is 2004.

In 2018, the company switched to the cryptocurrency industry. The brand and website address remained the same, but the products offered have changed. Now Inanomo focused on building a secure and highly liquid cryptocurrency exchange. In three years on the cryptocurrency market, the company has not shown enviable success. There is no independent information on trading volume. The site has a page on Coinmarketcap, but there the company is marked as “Untraceable”.

 

How to exchange cryptocurrency on the Inanomo platform?

The exchange is only possible after registration on the site inanomo.com. To do this, click on the “Login” button on the home page and fill out the form with your email address and password. Then the e-mail must be confirmed.

The user can then log in to the site and go to cryptocurrency exchange. Inanomo offers two ways to exchange cryptocurrencies. The first is conversion. This is a simplified exchanger, without the need to withdraw assets to the exchange. To use it, you need to open the section “Currency Conversion” in the left menu. On the left side of the page you will need to select the given currency for the exchange, in the central column – the received. On the right side there is a form. Here you should type the amount of the given currency and press “Convert”. The money will be deducted from one account and credited to another.

The second method of exchange is to create an order on the auction. To do this, select the “Trading Platform” section. The terminal is designed in a stylish and informative way. At the top you can select a pair. Next to it, quotations, daily price changes, and volume are shown. In the center is a chart. Users can use either the built-in chart from Inanomo or a third-party chart from TradingView. To the right of the chart is the stock market, and below it is the trading history.

To exchange one asset for another, you need to fill out the order form on the right side of the page. The form has three tabs:

• Limit. This is a limited price set by the trader. The user enters the price at which the system should execute an order to buy or sell. In the “Amount” field it is necessary to specify the amount of coins to be bought or sold. You can set the parameters of the order: to keep it in the cup until the user cancels it, or for a limited time.
• Marketplace. Such an order will be executed according to market quotes. The trader is not required to specify the price, it is only necessary to enter the number of coins for the transaction.
• Stop. This is a form for more experienced traders. Here you can set the stop price, stop limits. Then the order will be executed or canceled depending on the changes of quotations in the market.

Unfortunately, there is no third-party audit of platform volume, so it is impossible to predict how quickly orders are executed for different numbers of coins. The terminal has a volume indicator. On average, it shows about 1,000 BTC on the BTC/USD pair. For comparison, on exchanges like Korbit, Luno and CEX. The total daily volume is about 1000 BTC for all pairs. This is a much more well-known and proven platform than Inanomo.

 

Verification on the inanomo.com platform

Site Administration inanomo.com does not require users to be verified. The functionality of the exchange is available immediately after email confirmation. The site says that without verification the client will not have access to fiat currencies. In practice, depositing in fiat currency using ADVCash and Payeer works even without entering the documents. If the client still wants to confirm the identity, he should go to the “Profile” section and click on “Identification – not passed”.

A form for uploading files will appear. Here you need to send a color scan or photo of a document proving your identity. This can be a domestic or foreign passport, or a driver’s license. Users not from Russia can use ID-cards and IDs. Note that the identification section is not elaborate. We were unable to call up the window for downloading documents – the link simply did not work.

 

Deposit and withdrawal

To deposit cryptocurrency or fiat money to the exchange, you need to open the “Balance account” section. Available deposit methods are grouped by tabs: cryptocurrencies, tokens, fiat money and USD(S) – Stablecoins linked to the US dollar (How to Make Money on Cryptocurrency?).

The mechanics of cryptocurrency deposits are the same, regardless of the specific cryptocurrency:

• In the list of possible methods of deposit find the desired cryptocurrency.
• The address of the wallet will appear on the right. It is necessary to send coins from a third-party storage. There is also a QR code. It comes in handy if coins are deposited from a mobile device.
• Deposit in fiat currency can be made using dollars, euros or Russian rubles. Click on the desired currency. Then the system will offer to choose the method of deposit. For all three currencies are Payeer, ADVCash and bank card. You must specify the deposit amount and click on “Replenish”. The client will be redirected to the payment gateway.

To withdraw funds, you will need to open the same “Balance account” section and find the desired currency in the list. Let’s assume the trader has Bitcoin. Then he needs to click on BTC and in the window that appears, select the “Withdraw” tab. In the form you need to specify the bitcoin address of the recipient, and in the “Withdrawal Amount” field – the number of coins to be sent. Then – click on “Withdraw” button.

Commission of cryptocurrency exchange inanomo.com

Inanomo charges a commission for trading on the platform. Unlike most other exchanges, there is no difference in commission depending on the position in the transaction. Traders are not divided into maker and taker. But at Inanomo, the commission is different for the type of orders – market or limit. The standard rate for traders who have chosen the market order is 0.07% of the transaction amount. For clients working with the limit price, the commission will be 0.06%. Deposits in cryptocurrency are free. But keep in mind that the commission is charged by the blockchain itself. Therefore, the amount sent will be different from the actual amount credited to Inanomo. Other methods of depositing money depend on the payment system and currency:

• Payeer: in dollars – 5%, in euros – 2%, in rubles – 1%.
• Advcash: in dollars – 2%, in euros – 1%, in rubles – free.
• Bank cards: USD – 5% of the transfer amount, in euros – 3.75%, in rubles – 3.25%

How to get a commission discount

Traders will save on commissions if they increase their trading volume. Inanomo has a commission reduction program. The starting rate is 0.07% for market orders and 0.06% for limit orders. It applies to monthly volume of less than $350,000. Further there are discounts:

• Volume over 350 thousand and up to 1 500 000 USD – 0.065% for market transactions, 0.05% for limited transactions.
• Volume from 1.5 to 15 million is 0.06% market and 0.4 for limits.
• From 15 to 30,000,000: 0.055% market and 0.03% limit.
• From 30 to 60 million: 0.05% market and 0.02% limit.
• From 60 to 120 million: 0.045% and 0.01%.
• From 120 to 250 million: 0.04% for market orders and 0% for limit orders.
• From 250 to 500: 0.035% – minus 0.01%.

The largest discount is available for trading volume over $500 million per month: 0.03% market and minus 0.02% limit.

Withdrawal fees

Withdrawal commission in fiat currencies: US dollar – 4% from the amount of payment, Euro – 2%, ruble – 2%. On cryptocurrency withdrawals commissions are as follows:

• Bitcoin: 0.00151 BTC.
• Ethereum: 0.003 ETH.
• Litecoin: 0.0004 LTC.
• Tether: 32.14 USDT.
• USDCoin: 46.67 USDC.

Payouts in stabelcoins are very expensive. By comparison, at Phemex payment in Tether costs 10 USDT, at 50X – 16.65 USDT, at DigiFinex – 3 USDT. The Bitcoin payout price is also higher than the market: at KuCoin payment costs 0.0005 BTC, on 50X it costs 0.00035 BTC. Ethereum, on the contrary, is cheaper: on KuCoin the payment costs 0.01 ETH, on Phemex – 0.006 ETH.

 

Inanomo Bonuses

Inanomo has no active promotions or bonus programs.

Referral program

Inanomo users can earn extra money with an affiliate program. It is available in the menu of the site. The participant receives a unique referral link and ID. “Referral” can be distributed in social networks, blogs, chat rooms or on your site. Each new client who has clicked on the link or indicated the ID of the partner during registration is considered to be assigned to the participant. Partner’s remuneration – 50% from the commission of the attracted client. Thus, the new user does not lose the money – he pays the standard commission. Partner’s remuneration is credited to the balance account in Inanomo Wallet once a week.

 

Complaints about Inanomo

Inanomo has a mixed reputation – there are many positive and negative reviews. We have analyzed websites with comments from users, as well as studied forums.

Of the positives, users note:

• Actual absence of KYC. The platform allows you to work with cryptocurrencies without verification.
• Convenient site and functional trading terminal.
• The ability to deposit and withdraw fiat money.
• Prompt and well-trained support service.

There are negatives, too. It is mainly related to IEO Cybel – the placement of this coin was scandalous. Some users lost up to 99% of investment. Also, customers do not like the “closed” of the exchange – it does not publish technical information. It is not known due to what the liquidity is maintained and whether the trading volumes indicated in the terminal are real.

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Crypto exchange regulation

Inanomo.com crypto exchange is operated by Inanomo Finance LTD. The legal entity is registered in the state of St. Vincent and the Grenadines. It is a popular offshore jurisdiction offering low taxes, minimum restrictions and convenient legislation for startups from the cryptocurrency industry. The actual office, if Inanomo’s website is to be believed, is in Moscow. The address is Presnenskaya Naberezhnaya, 12. This is the business center “Federation Tower”, but the office number is not specified.

The inanomo.com website has a section with the company’s documents. There are certificates of incorporation and legal capacity of the company attached. These are essentially documents of incorporation in the jurisdiction of St. Vincent and the Grenadines. The incorporation number is 22800 IBC 2015, which means that the legal entity was established in 2015. The company is not registered in the Russian Federation and is not located in its jurisdiction. Accordingly, it is not subject to the laws of the Russian Federation and the regulations of local regulators.

Inanomo.com User Agreement

The User Agreement is a document that regulates the relationship between Inanomo Finance LTD and the clients of the website inanomo.com. The client automatically signs an agreement when registering on the site. In the agreement, the company discloses its services. For example, the Marketplace service is described as a “digital and fiat currency order book”. The user agrees to provide only the correct information about himself. He is prohibited from using the platform for criminal or illegal purposes. In addition, the trader must determine his or her own tax status and monitor compliance with tax laws at the place of residence.

In accordance with clauses 5.4.1 and 5.4.2, the company has the right to reject the deposit and withdrawal of money of the client if he did not provide personal information about himself. This is an interesting point, given that users can make a deposit without verification. But, judging by this document, they will not be able to withdraw money without providing documents. The form for uploading scans, in fact, does not always work.

Customer Service

If the client has any problems, he can find a solution in the FAQ section. There are answers to the most common questions. In addition, users can contact the support team:

• Telegram chat.
• E-mail: [email protected].

The company is also represented in the social networks VKontakte, Instagram, Facebook, Twitter and Linkedin.

 

Is Inanomo a Scam?

On paper Inanomo looks interesting: the exchange allows you to buy and sell cryptocurrency for fiat without identification, there is a stylish Russian-language website and support service. But the company has a dubious reputation. There are gross discrepancies in the foundation date. The method of liquidity support is not disclosed, probably overstated information about trading volumes. There are also enough technical problems – it is impossible to upload documents, and without this you can’t withdraw fiat money.

But most of all the negative feedback from customers. We found detailed comments describing fraud on the part of the site. Users say that the service “draws” charts in their favor, does not allow withdrawal of funds, buys positive reviews. Therefore, we assign Inanomo in the high risk group. Work with this site should be cautious. If you still decided to invest with inanomo.com, we recommend not to make large deposits, as well as not to disclose the data of bank cards.

 

Conclusion

The company Inanomo has rebranded itself from trust managers to a “universal platform for secure operations with cryptocurrencies. But after three years of work in the crypto market it has not gained the reputation of a reliable exchange. Even if a trader is willing to take risks, Inanomo offers no advantages. You can exchange cryptocurrencies at an exchanger, but it is more convenient to trade on a platform with more liquidity, official licenses and a strong reputation.