Meet "ONAM": A compliant cryptocurrency exchange platform globalizing seamless trading under one platform

Your entry into the world of cryptocurrency or digital assets will most likely come to a reality through an exchange. Basically, there are two main types of exchanges.

The first type of exchange is what most people refer to as fiat exchange. This an exchange that makes it possible for the direct transfer of most government-backed currencies (such as US dollars, Euros, Naira, and so on) to be traded for cryptocurrencies (such as Bitcoin, Etherium, Steem and so on). Cryptocurrency to cryptocurrency exchanges (C2C) is the second type of exchange. This is a type of exchange where cryptocurrencies are traded for another cryptocurrencies. For example; Steem may be traded in exchange for Bitcoin or Etherium. However, Bitcoin and Etherium are the most common pairings on these exchanges.

For you to obtain any kind of cryptocurrency, you will definitely need to make use of certain exchanges for your transaction, and you will be required to use both types of exchanges so as to get most cryptocurrencies. This is mainly because some laws and regulations about cryptocurrencies restrict fiat exchanges to sell them.

Each exchange has different advantages and disadvanges, so the best exchange for one person might be different from that of another person.

There are a number of things you should take into consideration when determining the
best and most secured cryptocurrency exchange for yourself.

• What is the level of safety of the website and server? Secure exchanges are better.

• What is the percentage of the exchanges fees? The lower the fees, the better it is for their users.

• How is the liquidity? The higher the volume of the exchange, the better the exchange.

• Is the exchange beginner friendly? Does it have a friendly user interface?

• How is the exchanges customer support? Do they offer the best customer support?

• Is the exchange compliant?

• How low is the latency? The lower the latencies, the better.

• What is the rate of transactions per second? The higher the transaction rate per second, the better.

Just as I said earlier, that each exchanges have different advantages and disadvantages. This is why the entire team of ONAM carried out a survey on most of the top exchanges and came to a conclusion of the challenges most of the exchanges are facing. The challenges of most exchanges are stated below.

Problem Statement

---

• Lack of Adequate Security: Cryptocurrency exchanges has a lot of loopholes which has been a target for various hacking groups. In 2017 alone, the crypto exchange market recorded a loss of over $266 million dollars to security breaches and the number rised to a massive loss of $731 million dollars in the first half of 2018. As cryptocurrency markets expansiates, large scale attacks, theft and fraud are also likely to increase as predicted by security experts.

• Limits in Scalability: Current digital assets exchanges are not designed to keep up with the pace of the ever growing cryptocurrency market and it will be quite hard for it to cope in the future.

• Manipulation of Market: There has been an occurrence of manipulations of large-scale market within the cryptocurrency trading industry. Cryptocurrency exchanges are congested with various techniques of market manipulations such as wash-trading, spoofing and momentum ignition to pump and dump.

• Faulty Customer Support: The customer support offered by other exchanges to their customers is faulty. The team of ONAM made a conclusion of this after a survey of customers was conducted by them from the top five exchanges. Some of the customers reported waiting weeks for submitted support tickets to be addressed even when there are urgent cases like accoun lockouts, 2FA resets and loss of funds.

• Poor Market Liquidity: Liquidity is the integral of any successful exchange. Poor order books, large gaps between asks and bids has led to price fluctuations in the market thus making manipulations easy.

• Lack of Regulatory Compliance: Individual or institutional investors who are looking to enter the market find it hard to trust the exchange market due to the lack of regulations in a market which is unstable. Lack of regulations also makes the investors to invest in failed projects which leads to loss of funds.

The entire team of ONAM were so determined about resolving these challenges and they put forth their plans and offer the best solution for the users of their exchange.

What is ONAM ?

---

ONAM is a compliant cryptocurrency exchange platform that offers up-to date and the best secure, scalable, transparent, customer support, liquidity and compliant exchange of cryptocurrency exchange to their users. This is a list of the supported asset at initial launch shown below. There will be periodic updating of this list of assets.

Why ONAM ?

The reason you should choose ONAM over all other existing exchanges is because ONAM aims to be the most capable and price efficient exchange on the market. ONAM have functioning tools available for their users need for the accomplishment of all of their transactions . The chart below shows the feature difference between ONAM and some top exchanges, as well as the difference in fees and the main reason ONAM should be the next exchange for all your transactions.

ONAM's Fees

ONAM's Exchange User Interface Preview

ONAM's Solutions

---

• Security: ONAM are in possession of their own Advamced Threat Prevention, Intrusion Detection, and Trade Surveillance systems alongside the solutions of DDoS mitigation, 2FA solutions and anti-phishing solutions. These systems are operated by machine learning which helps to detect and single out dangerous activities before it causes damage to the account of their users. An encrypted databases is available to provide optimum security for all the systems.

• Scalability: When it comes to the rate of transaction and latencies, the platform of ONAM outforms all other exchanges. ONAM is capable of handling a large amount of 10 million transactions per second with latencies as low as 40 nanoseconds.

• Transparency: Survey of trading activities that are not regular is made possible by ONAM’s Real-Time Market Surveillance and Compliance system. Different types of trades cam be fully monitored in order for Suspicious Activity Reports to be generated for the regulators of the system. Manipulation of the market becomes almost impossible as a result of all of these features as stated earlier.

• Customer Support: ONAM aims to offer their users 24/7/365 live customer support via chats In a language of their choice. It will take nothing more than 15 minutes for all issues to be addressed via support ticket system. Phone support will also be made available within the first six months of launch.

• Liquidity: ONAM will bring in large market makers, volume traders and miners to be part of their network. By enlisting book orders from multiple exchanges, the issues of high slippage and market manipulation will be easily dealt with.

• Compliance: The SEC are of the opinion that almost all token issues are security issues. This has resulted in multiple witness summon to various institutions launching Initial Coin Offerings. Public offerings are brought into implementation by issued licenses plus the top legal representatives of ONAM are all aware of the latest positions regarding SEC and its view on ICO activities.

The technologies that underlies ONAM's Platform

---

• Enterprise-Grade Security System

This is a system powered by machine learning and it is made up of their proprietary Intrusion Detection and Advanced Threat Prevention tools which never stores any passwords. All the confidential data of users are encrypted before they are fixed into the database.

• Anti-Market Manipulation System

This is an essential market surveillance, supervision and compliance system which is also powered by machine learning and it provide a non-stop monitoring for trading activities that seems illegal within their platforms.

• Institutional Grade Anti-Money Laundering System

This works based on the technolgy of machine learning and will help give a good account of customer data through various watchlists and databases internationally.

• Quarterly Third-Party Audits

Quarterly Third-Party Audits of their security protocols, macthing engine, code, orderbooks and architecture is done to give out full compliant, transparent and high-security systems.

• BitGo

The issue of custodian services being absent in relation to institutional investors on current exchanges has been recognised by ONAM and they look forward to providing solution to this by forming a partnership with BitGo, a market leader in institutional-grade cryptocurrency investment services provider.

• Employee Background Checks and Compliance Training

All the employees on ONAM will go through a deep background checks and will be trained to ensure that the platform is free from all sort of harms or hacks.

Regulatory Compliance

---

In their strive to staying compliant and doing everything they can to promote the sustainability and legitimacy of their platform, the team of ONAM are very determined to partner with Regulatory bodies in the United States and other Jurisdictions. They plan to be fully transparent and compliant in their ICO to make sure everything is smooth during and after their ICO.

In order for ONAM to avoid their project from suffering criticism and maybe shut down, they are making sure they are compliant with crowdfunding regulations by going along with the Crowdsale standards for SEC Reg S Category 1 Reg D Exemptions enforced by the United States Sec.

• ONAM ICO will meet Crowdsale standards for SEC Reg S Category 1 and Reg D Exemption.

• Access to accreditation status.

• Check potential investors against multiple global AML watchlists.
  _{Source: Whitepaper}

ONAM is ensuring they obey all regulations set forth by the United States SEC, FINRA, FinSEC and others on strict AML (Anti-Money Laundering) laws and be the front-runner in relationto being compliant with all regulatory bodies, therby gaining the full trust of their investors through that. A top legal firm had been retained by them to do everything necessary to obtain licenses and registrations required by the SEC to operate an exchange, such as but limited to;

• Register as Money Transmitter in all 50 U.S States.

• Obtain a Broker/Dealer License.

• Register as an Alternative Trading system (ATS).

• Become a member of Self Regulatory Organization (SRO).
  _{Source: Whitepaper}

• KYC/AML
  In no way can the tokens be distributed or offered or even be resold or transferred by their holders to whatsoever any citizens located in the country or region where transactions with cryptocurrencies are not allowed in any manner by applicable laws or regulations.

Features of ONAM

---

Advanced Order Types: These options assist the customers in being more successful in their day-to-day trading.

Margin Trading: Users can leverage higher buying power in exchange for a small interest fee.

Margin Lending: Users earn interest by lending, and can pick their own rate and duration terms.

Composite Index Fund: Users can diversify their portfolio.

Paper Trading: Trading simulations for novice users.

Modular User Interface: User can customize his/her trading page.

Trade Assistant with Trade Alerts and Signals: Powered by machine learning. Limits risk by assessing current position, account balance, and user’s personal tolerance.

Auto-Trading: Backtesting helps customers use trading bots based on their personal strategies. Users can employee premade strategies as well.

Social Media and Sentiment Analysis Tool: Powered by machine learning. Market condition forecasting.

Market Scanning: Powered by machine learning. Sets criteria for users to identify the kind of volatility they are seeking.

Advanced Charting: Helps users optimize historical analysis of commodity, currency, security, etc.

Trading Expert Coaching: Novice users can be taught best practices by a community of experts on the platform.

News and Announcement Feed: Major cryptocurrency-related news and updates.

Push Notifications: All activities will be pushed to the user.

OTC Trading: Smart contract escrow services to create smooth swaps of assets and funds.

Multi-Language User Interface: Prefered language as an option.

Multi-Language 24/7 LIVE Chat Support: Users always have access to help.

FIX Server for Institutional Traders

Advanced and Custom APIs

Affiliate Program
_{Source: Steemit}

Use-Case

---

Mr. Tola owns a small shoe company where he manufacture and sell all kinds of shoes. He business is really going wide and he plans on making his business even wider since the objective of every businessmen is to get the optimum profit required any business they partake in. As such, he decided to build a website where customers can order for shoes online and he get it delivered to them by charging a small delivery fees.

Not long from that time, he met with Mike to help him develop a website suitable for his online business plan. Mike is a developer and a crypto enthusiast who has been in the league for quite sometime now. Mike advised Mr Tola to allow him implement in the design of the website, an interface that will enable users pay for goods not only with fiat currencies but also with cryptocurrencies. Mr Tola thought about this and agreed to that. In no time, Mike designed the website and his customers started using the website.

But his customers always face one issue or the other when they are trying to pay with cryptocurrencies as most of the exchanges they use are not fully efficient in their transactions. The transactions are just too slow sometimes plus the exchange fees are on a high side. There is also the issue of security and the customer support is not good enough. Due to this, Mr Tola talked to Mike about this and Mike introduced him to ONAM Exchange.

ONAM is a platform that offers the best and optimum security, 24/7/365 customer support, 10 million transactions per second with latencies as low as 40 nanoseconds as against other exchanges 2 million transactions per second via Advance Threat Prevention, Intrusion Detection and Trade Surveillance system powered by machine learning.

Mr Tola endorsed the usage of ONAM exchange by all of his customers by advertising them on the front page of his website and also integrate their link into his website for a fast transaction. His customers started using this in their transactions and ever since then, no complaints have been heard from the customers. Thanks to ONAM Exchange, Mr Tola now owns one of the biggest shoe company around that offers smooth and credible cheap service to their customers at large.

Conclusion

---

Just as I said earlier, that each exchange has different advantages and disadvanges, so the best exchange for one person might be different from that of another person. I also said there are a number of things you should take into consideration when determining the best and most efficient cryptocurrency exchange for yourself as stated above.

Haven "ONAM" satisfied all of the basic consideration listed above compared to other exchanges, then I will conclude that ONAM is the best and most secured compliant cryptocurrency exchange out of all his contemporaries.