What is Numeraire coin (NMR) ?
What is Numeraire (NMR)
If you ask us to define Numeraire, we will tell you that it is a coin built on the ERC-20 protocol — the same as Ethereum. It was created by the Numerai hedge fund that was formed by data scientists and employs artificial intelligence in its work. The exact en numeraire definition is “face value” or “money”. The expression “don en numeraire” means “cash donation”.
Numeraire (NMR) never had an ICO — even though it hit the market in 2017, at the peak of the ICO era. The Numeraire blockchain does not exist. Numeraire mining has never been possible. According to the Numeraire coin whitepaper, the initial batch of tokens was distributed between the scientists and it was ready for immediate usage.
The mission of the Numeraire Protocol is to build models to predict the stock market. The participants of the protocol stake tokens according to their confidence in the prediction model. Depending on how precise the model is, they might either gain or lose tokens.
NMR coin
Numeraire price prediction
At the moment of this review being written, the Numeraire price reached $46.27. Its all-time low was $1.93 in November 2018 and its all-time high was $99.79 in June 2017. The all-time graph of the price fluctuations is available on Numeraire Coinmarketcap or other similar platforms.
The market capitalization of the Numeraire crypto equaled $211,878,291. The circulating supply was 4,568,175 NMR. The maximum supply is limited to 11,000,000 NMR. The overall trading volume over the last 24 hours exceeded $19,600,000. People's interest in this coin seems obvious.
Now, let us think of the reasons why Numeraire pricing might change. The holders of this coin are not that numerous. Consequently, fewer factors can affect the Numeraire crypto price if compared to Bitcoin. The easiest way to predict the price is to keep up with the news of the close-knit NMR community.
Numeraire wallet
After you buy Numeraire, you should store it in a wallet. Some prefer to keep it on a trading platform because the Numeraire token price might fluctuate rapidly and they can make money on trading the asset. But you also need to take risks into account. If the exchange Numeraire is hacked or turns out to be a scam, you might lose all your savings.
You can choose a Numeraire token wallet of any type: hardware, software, online, mobile app or browser extension. Ledger, Trezor, Exodus or MyEtherWallet can serve as worthy examples of a Numeraire coin wallet. Otherwise, you can store your coin Numeraire in over a dozen of other, lesser-known wallets.
If you opt for an online Numeraire wallet, you can be sure that it will never get damaged beyond repair. But if you prefer its physical counterpart, also known as a cold wallet, it will hardly ever be hacked. So weigh up your risks and make a reasonable choice. Most importantly, never lose your password!
Invest in Numeraire
You might want to know whether it makes sense to invest in Numeraire if you are not a data scientist. To judge reasonably, you should rely not only on the Numeraire white paper and the definition Numeraire but also the recent Numeraire token news. Besides, you should take into account the growing importance of the artificial intelligence sector.
Each year, more and more AI-based technologies hit the market. The industry attracts larger private investments and governmental support. So far, the Numerai hedge fund is perceived as an ambitious newcomer to the sector. But in a few years, it might turn into a prominent player. The Numeraire coin is not a purely speculative venture but a promising tool that contributes to progress.
Given that, Numeraire investment seems to be a sensible decision. Feel free to visit a Numeraire exchange right now to purchase the coin.
NMR projects and incentives
Data scientists should check the news of the Numerai hedge fund regularly. The team behind the project frequently comes up with opportunities to earn money.
In 2020, they offered $50 mln Numeraire tokens to specialists who would provide original stock market signals to Numerai Signals (it is the name of the fund's data clearinghouse). Fellow funds were allowed to take part in the competition too. To receive the prize, one had to stake the token. Each round, up to 25% of staked tokens could be burnt. Those who did not stake it could take part in the initiative too but without a reward.
The administration emphasized that Numerai data scientists have long crowdsourced trading strategies. They invited everyone to make a profit on innovative intelligence by sharing it with others. They claimed that the returns would be much higher if compared to using the data for individual trading.
This was just an example of the opportunities that the fund offers.
Criticism of the project
The main shortcoming of NMR consists in the fact that only data scientists can use the full scope of its opportunities. People without profound knowledge can act only as passive traders. They should monitor the price graphs and react accordingly, either buying or selling the coin.
The scientists, for their part, are exposed to great risks. To be allowed to make predictions on the market, they should stake the NMR coin. If their predictions are wrong, the amount of coins that they might lose is uncapped. With the worst scenario, they might lose all their savings in one go.
Yet these disadvantages can also be regarded as the project's merits. The fact that NMR is a niche token helps it to stand out from the rest and increases its chances to succeed in the long run. The fact that scientists might lose all their stakes motivates them to make more precise predictions. As you see, the project is remarkably sustainable and has a significant competitive edge.
How to buy on P2B?
Now that you understand how the Numeraire economics functions, you might want to buy NMR. This token is traded in around 50 market pairs on centralized and decentralized platforms — but we recommend you to choose P2B. At this centralized project, the Numeraire coin price will satisfy you and there will always be enough supply.
At P2B, you can exchange Numeraire NMR to USDT or USD. The Numeraire ETH pair or the exchange of the Numeraire currency to BTC are currently not available. All you need to do to acquire the coin is:
- Sign up for the system.
- Log in to your account and choose to deposit.
- Locate Numeraire in the list of currencies.
- Transfer USD from a bank card and receive tokens on your account.
If you opt for USDT, send funds from your crypto wallet and not the bank card.
P2B is a remarkably safe site. It stores 96% of tokens on cold wallets so that third parties cannot get hold of them. The multilingual support team will answer your questions 24/7.
Conclusion about the cryptocurrency Numeraire
Hopefully, this Numeraire review came in handy and now you know what is NMR, where to buy Numeraire, what is the Numeraire price and what are the most meaningful statements of the Numeraire whitepaper. Even if you are not a data scientist, you might consider acquiring Numeraire cryptocurrency for trading purposes. Unlike hundreds of tokens that are not backed up by any powerful concept and lack technological advantages, this one is based on a promising data science approach. Numeraire economics seems sensible and numerous professionals of the IT sphere are already involved in Numeraire staking. Feel free to join them now! You will have good chances to make a profit. You can purchase the coin on the centralized P2B exchange using USD from your bank card or USDT from your crypto wallet.
Besides, you should use your chance to get the PACT token issued by the P2B platform. It will give you access to multiple benefits — and you will not even need to buy its first batch! The exchange will reward you with PACT if you prove that you bring benefit to its community.