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– It allows users to earn NMR tokens in exchange for uploading the stock market predictions.
– It aims for everyone’s access to financial products.
– It is an ERC-20 token of Ethereum.
– It has a market capitalization of more than $4 billion.
– It has a maximum supply of 11 million Numeraire coins.
Numerai was founded in 2015, and it claims to be the first hedge fund to launch a cryptocurrency.
It started with a vision to bring data science to a decentralized platform like blockchain, where people develop better machine learning models. It has better security levels that don’t compromise on the data and incentivizes scientists for making financial models. The users can stake their cryptocurrency and earn rewards on the platform through the predictions made by scientists.
– It rewards scientists every week with Bitcoin if they win the model.
– NMR tokens are burnt on a regular basis that could possibly lead to inflation in prices.
– It is the first cryptocurrency that has been released by a hedge fund.
CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.
Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.
A simple explainer can be a pretty rare thing in a realm as complicated as the cryptosphere. That’s what we are here to change—one article at a time.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
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