Onam Exchange - a new dawn in the cryptocurrency market

Growing up, I lived in a house close to a money merchant. You see, we lived in a remote place, where there was no bank, hence, most residents of that area had no bank accounts. There was however, a learned woman that had a bank account, and so, she decided to become a money merchant. Her main responsibilities were to, store other people’s money in her bank account, withdraw people’s money from her bank account, and loan out money. All these were done at the request of interested parties.

Cryptocurrency owners can be likened to the innocent residents of the remote places in my story. You see, crypto owners need a place to exchange their cryptos, hence the rise of cryptocurrency exchanges, which can be likened to the money merchant. The cryptocurrency market keeps growing, since more and more parties are interested in owning cryptos. Infact, early this year, the cryptocurrency market is said to have almost gotten to a trillion-dollar market cap.

The growth of the cryptocurrency is a welcomed development. However, present cryptocurrency exchanges have some issues rocking them, and this in the long run, would inhibit the growth of the cryptocurrency market. Some of these issues are:

One fateful day, a large sum of money was given to the money merchant from my first paragraph. This money was to be deposited in her bank account. However, prior to her taking the money to the bank, she was robbed in her house, and all the money of innocent individuals were taken.

Just like the money merchant was targeted by robbers, cryptocurrency exchanges have always been a target, albeit by hackers. These hackers cause security breaches that enable them to access and make away with digital assets stored in these exchanges. Due to hacking alone, many cryptocurrency exchanges have either closed up, and/or experience losses. Don’t believe me? Do your research.

The money merchant from the preceding paragraphs wasn’t able to keep up with the business, even after she bounced back from the robbery incident. This was due to the fact that, it got to a point where, she had to go to the bank for a numerous number of times daily. Hence, her business wasn’t scalable.

Just like the money merchant, most cryptocurrencies are not scalable. Infact, with the growth of the cryptocurrency market, it is certain that most cryptocurrency exchanges won’t be able to cope. It has happened before, where cryptocurrency exchange temporarily refused to create new accounts for intending users. Check here

Since the money merchant was the only one that went to the bank to withdraw funds for the residents of my area, anything she said was accepted. She sometimes even manipulated monetary figures for her own selfish gain.

Like the money merchant, cryptocurrency exchanges have the habit of manipulating the cryptocurrency market. They employ different market manipulation methods such as spoofing, wash-trading, momentum ignition to pump and dump. If cryptos are to achieve mass adoption, a regulated crypto market is needed, and this market must be free of market manipulation

The money merchant did not have good customer support. If there was a delay in collecting the funds which you asked her to withdraw for you, she wouldn’t even tell you the reason. Her customers were always kept in the dark. This is almost the same, when it comes to cryptocurrency exchanges. These cryptocurrency exchanges have poor customer support, and this is very disheartening.

The cryptocurrency market almost always sees fluctuations in prices. This is what makes market manipulation easier and possible. Infact, most exchanges take advantage of this poor market liquidity to engage in their illicit market manipulations.

Investors (individuals and institutional) are been cautioned by SEC not to participate in cryptocurrency market. Infact, researches shows that the SEC scrutinizes most cryptocurrency projects, be it, exchanges, ICOs etc. All these shows that there should be a regulatory framework, that would act in the interest of all, to protect intending investors.

Seeing the issues rocking cryptocurrency exchanges, it is quite normal for intending investors, individual or institutional, to fret about going into the cryptocurrency space. However, there is a light at the end of the tunnel. This light is ONAM

ONAM is a cryptocurrency exchange that proffers solution to all issues rocking other cryptocurrency exchanges. Infact, let’s skip the icing and delve into the cake. Check out the following features, which ONAM proffers:

With this feature, ONAM helps to preserve profits of customers, and this ultimately means that Customers are bound to be successful in their trading.

With this feature, users of ONAM can leverage higher and larger buying power, by paying small interest fees on borrowed funds.

With this feature, users can earn funds via interest, when they lend funds to Margin Traders. Margin Lenders would pick the their own rate and duration terms

With this feature, users can be involved in different crypto assets, in a smart and secured manner.

With this feature, novice and intermediate users can put their mind to rest, as this feature allows them to improve their trading skills, through trading simulations.

With this feature, each user can customize his/her own trading page to meet his/her own personal preference.

This feature is powered by machine learning. These feature enables that risk are limited by assessing current position, account balance, and user’s personal tolerance. With this, each user is bound to be profitably successful.

This feature enables a user to create a trading bot. This bot can either be based on the specific user’s strategy, coupled with the strategies the user prefer or based on the ready-made strategies created by expert traders.

This feature is powered by machine learning, and it ensures that traders make the best possible decisions.

This feature is also powered by machine learning. With this feature, traders can set the type of volatility they are seeking for, all based on their unique preference.

With this feature, traders can optimally go through the historical analysis of a commodity, currency, security, or any digital assets.

With this feature, traders that are new to the crypto space can learn the best trading practices from a group of expert traders who exist on the platform.

This feature enables that traders get updated with major news that are related to cryptocurrencies.

With this feature, traders would get timely information about their activities on the platform

With this feature, traders get to user smart contracts to escrow their services, so as to ensure the seamless transfer of assets and funds

With this feature, traders get to use the ONAM platform in their own preferred language.

With this feature, traders always have someone to speak to on the platform, regarding any issue which may arise.

Fix Server for Institutional Traders

Advanced and Custom APIs

Affiliate Program

ONAM would never stores password, and ONAM always ensures that sensitive data are securely encrypted before they are sent to it’s database.

This feature is powered by machine learning, and it is always operational. With this AMM, ONAM is able to do a real time surveillance, supervision of the market, to ensure that there is compliance.

This is also powered by machine learning. The AML filters the data of all users on ONAM, and it uses this to potentially identify fraudulent behavior, even before it happens.

This feature can be regard as a non-technical layer of defense. ONAM does quarterly audits to ensure that optimal practices are allowed on the platform, and also to ensure compliance with concerned authorities.

ONAM has a partnership with BitGO, “the market leader in institutional-grade cryptocurrency investment services”. This is to ensure that the best custodian services are offered to big time institutional investors. Custodian services ranging from institutional grade policy controls, to 100% cold storage in bank grade vaults. This cold storage requires multi-signature to access.

To ensure security, all employees and intending employees of ONAM must pass a background check, and meet a standard that is tantamount to ONAM’s security and vision.

Everyday, hackers emerge with different approach to causing security breaches to projects on the cyberspace. To prevent this, continuous and real-time monitoring must be enforced. ONAM makes use of standard DDoS mitigation, anti-phising and 2FA solutions to ensure security. ONAM doesn’t stop there, it however takes security to the next level by implementing it’s own proprietary “Advanced Threat Prevention, Intrusion Detection, and Trade Surveillance” systems. These systems are powered by powerful and efficient machine learning.

With these systems, irregular activities would be detected, and thus security breaches would be prevented. All these would be turn in a real-time manner.

To ensure scalability, ONAM has achieved 10 miillion transactions per seconds. These transactions have low latencies, which are as low as 40 nano seconds. This is incredibly high, when it is compared with other exchanges, who can only boast of 1-2 million transactions per seconds. ONAM’s high transaction per seconds was made possible via GoLang programming language (designed by Google).

ONAM has a Real-Time Market Surveillance and Compliance system which surveys and analyzes trades data (pre and post). With this analysis, Suspicious Activity Reports would be generated for regulators which would comply with present and future regulation policies. With all these, it is certain that market manipulation techniques such as spoofing, wash trades, etc would be almost impossible on the ONAM exchange.

If you’re the type of user that loves customer support, then ONAM is the best exchange for you. Reason been that, ONAM aims to offer a 24/7/365 live chats, which would be available in different languages. With this, you’re sure that most common issues would be addressed and subsequently resolved within the first 15minutes of the ticket being submitted. To ensure that all issues are resolved, Phone support would also be available with the first 6months of launch.

ONAM incentivizes large market-makers, volume traders, and miners, thus making them to participate in the ONAM platform. To prevent high slippage and market manipulation, ONAM would use order books from various exchanges. This would also ensure that ONAM has a transparent order books.

It is a known fact that the SEC states that a large number of token assets are security issues. This has ultimately led to the subpoenaing of various crypto projects who launch ICO. To prevent this, legal experts advise that crypto projects should take the necessary license and comply with regulations before issuing tokens and operation. However, most projects refuse to do this.

ONAM plans to obey this regulations, and it has already employed the services of one of the top law firms in the United States to handle all legal activities that may arise. With this, ONAM is a company that would operately freely, without fear of been shut down by regulatory authorities.

Personally, I am about to venture into the cryptocurrency trading space. But I am a novice, as I don’t know anything about it. With the coming of ONAM, I can grab the opportunity poised by ONAM’s Paper Trading, which enables me to run trading simulations, and improve my trading skills. This is a big advantage to me, as I would become an experienced trader in no-time, even without me losing any funds.

Every product needs a market, and so does cryptocurrency. Present cryptocurency exchanges have already laid down the principle required for the cryptocurrency market, however, they have been bedridden with various issues. This is what ONAM aims to fix.

While it is true that ONAM is not inventing something new, it is however taking an existing thing and redefining the way it is done. With ONAM various features, ranging from low transaction costs, increased transaction per seconds (10 million TPS), increased latency (40 mamoseconds), paper charting, high end security and regulatory compliance, paper charting, etc., it is glaring that ONAM is indeed going to be more effective and efficient than present exchanges. Check out the image below, and be amazed.