INTRODUCING ONAM: THE PRESENT AND FUTURE OF CRYPTO EXCHANGE
The creation of cryptocurrencies has led to the introduction of so many exchanges in this present time. Though cryptocurrecies has high tendencies to increase in value than fiat money, majority of people are still skeptical to key into it because of some challenges that accompanies most crypto exchanges. This has in a way, led to the slow adoption of cryptocurrencies today.
Prospective investors are uncertain about the security of their funds, some who are new to exchanges struggle with its complexity and because of this, make a lot of mistakes because they are not provided any sort of guidance to use them. This can be discouraging especially to new comers.
Some challenges faced with most crypto-exchange includes:
Most cryptocurrency exchange are vulnerable to attacks, hacks, theft and fraudulent activities as cryptocurrencies become the mainstream. The attacks from various hacking groups beginning in 2011 and afterwards, have brought about so many security concerns.
In 2017, $266 million dollars was lost by exchanges and $731 million dollars was lost in the first half of 2018. There have been predictions by security experts of larger scale of attacks, hacks, fraud and thefts as more people embrace cryptpcurrency.
Also, new ways are constantly been developed by cyber criminals to gain access to a users assests, this can be discouraging to prospective investors for fear of their loosing their assests.
The massive influx of new traders and investors entering the cryptosystem has brought about an increase in transactions on a daily basis which leads to a slow down in registration and transaction processes.
So many unfair and volatile activities like spoofing, wash-trading, momentum ignition to pump and dump takes place in the crypto-market which arises as a result of lack of regulations in the system.
Most exchanges lack supervision and compliance system that can protect them from suspicious activities that could affect them negatively whether during pre-trade and post-trade. There is no form of analysis that could protect them neither is there a customer service they can run to when they want help/support, are affected or have fallen victim to some malicious activities which do not ensure safety or give them confidence when trading.
Also, traders are not always opportune to get a committed 24/7/365 live chat in different languages. This is also a discouraging factor for investors.
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[Onam](https://onam.io/) is a fully compliant cryptocurrency platform that is designed to offer the best security, scalability, customers support, transparency, liquidity and compliance to its users.
Onam exchange ensures users experienc fast, easy and secured transactions at any point in time. "Their mission is to take crypto exchange out of murky waters so as to encourage mass adoption of cryptocurrencies." The hope to achieve this through:
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Onam has been designed with an "Advanced Threat Prevention, intrusion Detection, and Trade Surveillance systems" which is accompanied by DDos mitigation, 2FA solutions and anti-phishing solutions to protect its users from any sort of negative activity that goes on within the system.
The systems created by Onam will be able to recognize harmful activities so as to prevent it from gaining grounds. Also, the platform plays a major obligation to its users to protect them through their quarterly 3rd party audits.
One good thing about Onam is that, never stores user passwords/keys, neither does it convery sensitive information into code before submitting it to its storage. This would prevent any trace of users personal information by an external body not permitted by the owner.
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Onam platform outperforms other existing competition when it comes to transactions per second and latencies. As opposed to two million transaction per second, Onam handles "10 million transactions per second with latencies as low as 40 nanoseconds."
This to a large extent will improve daily transactions, making it fast and would accommodate new users, not minding the heavy load of transactions that might be made every second of the day.
Onam platform monitors any form of irregular network activities through its Real-Time Market Surveillance and compliance system surveys. This system to a reasonable extent, makes it difficult for manipulation to take place.
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Onam aims to provide 24hrs, seven days and an all round year service-24/7/365 live customer support through chats in different languages. Through a ticket system, common issues will be resolved within 15 minutes and a proposed phone support will be launched within the first six months of the launch. This shows how special users are to Onam; ensuring everyone is satisfied and attended to at any point in time by breaking all forms of barrier(language) and protocols.
Onam commitment and dedication will greatly increase customers confidence and improve usability because they will be able to clear their doubts when they are not sure about something which will give them an opportunity to do better with trading and make them feel secured knowing fully well that Onam got their back at every point in time.
The improvement introduced by onam will attract both prospective and current traders/investors to partake in their network because solutions have been preferred to the challenges they feared would be hindrance. By providing security and fighting manipulations, users are assured of their funds and profits been secured.
Low fees is an advantage for traders. This will enable them transact more and make profits.
**[ONAM](https://onam.io/): WORKING HARD TO BECOME FULLY COMPLIANT**
By collaborating with other regulatory bodies, Onam aim towards been compliant and has plans to obtain a Broker-Dealer licence and further register as an alternative trading system. This is very important and will be beneficial to both them and they users because been a **broker-dealer** will greatly help them achieve their goal of security and will be authorized to fulfil obligations as assisting customers with investment advice, facilitating trading activities on behalf of its users.
**SOME GREAT FUTURES OFFERED BY ONAM**
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• Advanced Order Types
These options helps users to become successful in their day-to-day trading.
• MARGIN LENDING
This enables users to earn interest when they lend and are opportune to pick their own rate and duration terms.
• MARGIN TRADING
Users get the advantage of leveraging higher buying power in exchange for a small interest fee.
• COMPOSITE INDEX FUND
This allows users to diversify their portfolio.
• PAPER TRADING
This is trading simulation especially for new users(novice).
• MODULAR USER INTERFACE
This gives a user an opportunity to customize their page.
• TRADING EXPERT COACHING
This feature assist new users to be taught best practices by a community of experts with a language they can understand on the platform.
• Onam provides a multi-language 24/7/LIVE chat support for users when they need help.
ONAM USE-CASE
John has being introduced to different cryptocurrecies but has been skeptical in trying any because of his research so far about Cryptocurrecies and their exchanges. Ever since his research, he has blocked his mind about it until he came across Onam which offers a great deal. Its great features and attributes of security, been fast and customer support services made him develop confidence to invest in cryptocurrecies. Onam exchange motivated him to Invest without fear or doubts.
CONCLUSION
Having a seamless trading as Onam will surely lead to a mass adoption of cryptocurrency. A platform that makes things easy, faster, reliable and secured will be helpful to so many traders. By combining financial tools in one platform, traders are able to transact with ease and peace, this is indeed the present and future of cryto currency exchange.
More Information & Resources:
WHAT I HAVE TO SAY ABOUT ONAM
• ONAM Website
• ONAM WhitePaper
• ONAM Telegram
• ONAM Reddit
• ONAM Medium
• ONAM LinkedIn
• ONAM Instagram
• ONAM Twitter
• ONAM Instagram
• ONAM Bitcointalk
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