ONAM:the compliant exchange site.

magatha (45)in #originalworks • 6 years ago

Introduction
Cryptocurrencies is one major effect that took place and is still taking place in the financial system globally. As time goes on, the adoption of these currencies is gradually coming to past where Cryptocurrencies would be used for several transactions globally but the challenges that accrues before its true adoption is highly obvious which one of them is the inflexibility we face in most exchange site. These exchange site are yet unprepared to receive the gradual updates of cryptocurrencies because of a lot of set backs experienced in this exchange site. How can we have a true adoption of cryptocurrencies when we still face some level of difficulty in most exchange sites? How can this replace fiat money when we still experience insecurity, high level of charges and many other disadvantages in these various exchange site? This will make new users very uncomfortable with the system and when new users are not satisfied with services that entails cryptocurrencies, then the true adoption of cryptocurrencies is highly compromised. This is highly disheartening. The challenges that we face in these exchange sites are explained briefly below:

Challenges Faced In Most Exchange Sites

1)Lack Of High leveled Security:** Most exchange site have been recorded to be frequently hacked my hackers which made these site and their users lose millions of money from their site. Security is one highly factor that is important to anything that entails money, it's inefficiencies of the system becomes undeniable. With the gradual mass adoption of cryptocurrencies, this shows how these sites will be highly hacked since Cryptocurrency will become the ringing alarm.

2) Non adaptive functions of Other Exchanges Sites: has Cryptocurrency is gradually having its pace globally, new improvements are currently occurring. These improvements displays how myopic and mediocre some exchange sites are. Exchange Sites where there is no form of update has Cryptocurrency updates daily. This shows how non adaptive they are to the gradual increase of cryptocurrencies. As the market continually grows where new users and investors are increasing daily, the need for a compliant and competent exchange site is highly needed.

3) Lack of Users Support:*Many issues have been experienced by users of several exchange sites, these issues might be resulted with hacked account, loss of currencies, slow response to exchange of cryptos, 2FA verification and many others. But in recent times, it has been seen that the customer service rendered to users are quite.

4) Ineffective Regulations: Imagine dealing with platforms that lacks effective regulations? This will scare away new participators intending to join such platform. Several exchange sites lack adequate regulations on how they operate with respect to new development or even ICO occurring in the exchange site.

With all these setbacks, the call to experience a different exchange site is needed
where security, regulations and adaptability to new improvements of exchange site is highly recommended for the mass adoption of cryptocurrencies. The solution to this setbacks is ONAM.

The Solution is ONAM

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ONAM is a cryptocurrency exchange site where several currencies can be exchanged for other Cryptocurrencies. What distinguishes ONAM from other Cryptocurrency exchange site is the aspect of its high level of security, compliance and offer best services to support their users.

ONAM is known for its high level of transparency

ONAM has come to solve the problems users face with other cryptocurrency exchange site, such solutions are :

Problems that Onam Solves

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1)Security: Despite several security companies that is being used to protect the whole system especially the users account, hackers and cyber guru still find their way in tampering with the entire system. That's is why ONAM did bot only relied on 2FA verification or DDos mitigation but also introduced there very own security platform of:

Intrusion Detection
Trade Surveillance
Advanced threat Prevention

These above are the inside measures of Onam to protect the account of their users. These are all machines that expose any occurrence that is not legal in the system. Advanced threat Prevention prevents breaches as fast as possible.

2)High Performance:the inefficiencies that is associated with the number of transaction per second by other exchange site cause a lot of traffic
and congestion amongst users who are performing several transactions per seconds. But Onam supersedes the whole idea of performing 2 million transaction per second by other exchange site. Instead, Onam performs in a very high range of services where Onam matching machine takes care of 10million transactions per second. This attribute makes the whole exchange easier for users to operate with.

3)Regulates Trade: Onam has the feature of regulating and analyzing several trades occurring in the system to avoid unfair manipulative activities from occurring amongst users. Onam is at the responsibility of canceling any manipulation that is done in the market

4) Rendering Support and services to users: most exchange site lacks this feature because they feel it is less needed but unfortunately, this is one of the factor that allows users to operate in a platform. Onam is highly renderers of support to their customers where there will be a chat that will go live in several dialect to reach out to users who are having difficulty in operating the system and also, they are highly submitted to solve common issues asap.

5)Compliance in Regulations: in licensing, transparency, Onam is fully endowed by such attribute where users gain so much trust in them due to their compliance in various regulations in sale of securities, ICO and other update about their projects.

Features of Onam Platform

There are several features that allows Onam to operate in a manner that is efficient and adequate for users.
Such Features include:

Advanced Order Types: this feature helps and assist users which enables such user activities on a daily basis become worthwhile. Some of these advanced order types are, Trailing stops, fill and kill, take profits and many more.
Margin Trading:This allow users to pay little fee in exchange for an high buying potentials(power)
Margin Lending:this a feature where people get reward from lending based on their own terms and conditions in the platform.
Composite Index Funds:this feature allow customer to become exposed to several crypto updates and asset where diversification of users interest can be done.
Paper Trading:this feature allows novice to participate in trading on Onam platform thereby developing their skills in trading without investing any initial capital.
Modular UI:this interface allows users to construct his/her page display.
Trade Assistant: this particular feature enable users to receive alerts and signals from trading.
Social Media and Market Sentiment Analysis Tool: this helps customers to predict and forecast on trading decisions inorder to avoid mistakes and regrets when trading.
Market Scanning: this feature allow customer to scan tokens or coins that are temporary or enables user to find several tools based on their choice that will be beneficial for them.

Onam vs Other exchange site

Onam can be compared with respect to her low trading fees, security, matching engines and an advanced features that supersedes other exchange site. The picture blow shows the difference between Onam and binance, kucoin and other exchange site. C3TZR1g81UNaPs7vzNXHueW5ZM76DSHWEY7onmfLxcK2iQMVK9CNNB8ttVxKKQ679Z7AxnNGq5RPvEJ4pAchyi66jCEVoTx1ipJCDWT9VxUHnhSUJk8RX2e.png Onam Website

It is seen clearly that Onam supersede the other exchange site, for example, the trading charges for Onam is just 0.05% but for others, we have an outrageous fee.

Other Onam Security Measures

Enterprise-Grade Security – ONAM can't save private keys before or after rendering your information

Anti-Market Manipulation (AMM) – machine learning technology is able to identify any irregular market manipulation activities, and this security has the functions of flagging such activities before having effect to the system.

Anti-Money Laundering (AML) – Again, the machine learning technology is able to ransack the data of users in order to remove an attempts of laundering.

Use Case

John is a novice to crypto but earlier bought bitcoin due to his little Knowledge about Cryptocurrency. While purchasing bitcoin with his fiat money, the whole process of exchange was way time consuming and the charges that was incurred as a result of purchasing bitcoin was a cut throat charge. Recently, John checked his chart and noticed that ethereum is taking over the market system, so he was with idea whether to exchange is bitcoin for etherum. He was helplessly in need of advice from pro of the system but couldn't get one and also, when remembers his last exchange and how outrageously expensive it was, he became discouraged until he found Onam.

Onam provided John several communities that wilk advice him on the best step to take and not only that, with Onam, the charges inorder to buy his bitcoin is significantly low at 0.05%. These features of Onam encourages our novice "John" in becoming fully involved in Cryptocurrencies.

Meet the team and advisors

Onam Website

In conclusion, Onam is best in providing but most services to its users where low charges are used, 10million transactions per second can occur, 24/7 customer care and live chat in different languages is available, Onam with its very own security measures and many more shows that Onam supersedes any other exchange site.