Buy Numeraire (NMR)

Numeraire (NMR) is a platform that improves stock market predictions and makes stock trading easier and more efficient by leveraging blockchain technology, artificial intelligence (AI), machine learning and data science.

Traditional hedge funds and financial markets often suffer from human error and inefficiencies. Furthermore, collecting and analyzing market data is a complex and time-consuming task. Numeraire reduces these errors and inefficiencies while increasing speed and making the process more efficient by leveraging the collective intelligence of a global network of data scientists. On the blockchain, participants can submit their market predictions, which are then collected and used to execute trades.

Numeraire uses an AI aggregation model, also known as a meta model, that combines all the predictions submitted by participants. The model uses advanced algorithms to trade stocks based on these predictions. Through Numeraire applications, such as Signals and the Tournament, users can access these models and submit their own predictions and trading strategies.

Numerai Signals and the Numerai Tournament are the main applications. Numerai Signals is a platform where users can upload their stock strategies. Users submit signals based on different datasets. The Numerai Tournament is a weekly competition where users can submit their trading algorithms. Participants bet on the probability of their prediction and are rewarded with NMR tokens for correct predictions.

Contributing data scientists and financial analysts are rewarded with NMR tokens. As a native cryptocurrency, NMR plays an important role in the ecosystem. In addition to a reward tool, users can stake NMR tokens on their predictions, and for making payments or participating in tournaments. The Erasure protocol ensures that staked NMR tokens are automatically destroyed in the event of an incorrect prediction, while new NMR tokens are minted in the event of a correct prediction.

Who founded Numeraire?

Numeraire was founded in 2015 in San Francisco, California by Richard Craib and is currently managed by the company Numerai. Numerai has received funding from well-known investors such as Union Square Ventures, Paradigm, Placeholder and Howard Morgan. Richard Craib, the founder, has a background in hedge funds and data science. The Numerai team consists of a diverse group of experts in AI, machine learning and blockchain technology.

Numeraire has several applications. Users and developers can use Numeraire in the following ways:

• Making predictions: Users can submit market predictions and earn NMR tokens for accurate predictions.
• Staking NMR tokens: Users can stake NMR tokens on predictions and get rewarded for correct predictions.
• Participating in competitions: Users can participate in the weekly Numerai Tournament and submit their trading algorithms to earn NMR tokens.
• Trading stocks: The platform allows users to trade stocks based on aggregated predictions.
• Generating passive income: Data scientists can earn extra income by having their market analysis and predictions rewarded with NMR tokens.

Numeraire uses advanced technologies such as blockchain, artificial intelligence (AI), and smart contracts to build a decentralized platform for market prediction and trading. Below, we explain the main technical components.

The meta model

Numeraire uses an AI aggregation model, the meta model, that collects and combines all the predictions submitted by users via platforms such as Numerai Signals and the Numerai Tournament. This model analyzes the data and uses advanced algorithms to determine the most likely predictions. These predictions are then used to execute trades on the stock market.

The Numerai Tournament

The Numerai Tournament is a weekly competition where data scientists and other participants can submit their trading algorithms. Users stake NMR tokens on the predictions they consider most likely. The submitted predictions are evaluated for accuracy. Users with correct predictions are rewarded with newly minted NMR tokens, while those with incorrect predictions have their tokens destroyed. This encourages accurate and thoughtful predictions.

Numerai Signals

Numerai Signals is a platform where users can submit their market predictions. Users submit signals based on data sets such as price-earnings ratio, relative strength index (RSI) or social media sentiment. These signals are analyzed and scored for accuracy. Similar to the Tournament, users are rewarded with NMR tokens for correct predictions and the tokens of incorrect predictions are destroyed.

Erasure protocol

The Erasure protocol, made up of Ethereum smart contracts, ensures a fair and transparent reward system. When a user stakes NMR tokens on a prediction, they are temporarily locked up. If the prediction is correct, the tokens are released and the user receives additional NMR tokens as a reward. If the prediction is incorrect, the staked tokens are permanently destroyed. This incentivizes accuracy and discourages manipulation.

Security

All Numeraire transactions and staking activity are recorded on the Ethereum blockchain, creating an immutable and public ledger. This creates trust and makes manipulation difficult. Additionally, smart contracts ensure that the reward system is executed automatically and without human intervention, further increasing reliability.

The NMR token is crucial within the Numeraire ecosystem. It has several functions that contribute to the operation of the platform. First, you use NMR to access Numeraire applications such as Numerai Signals and the Numerai Tournament. Users can stake their NMR tokens on market predictions. Those with correct predictions are rewarded with additional NMR tokens. Incorrect predictions result in the loss of the staked tokens.

Additionally, NMR serves as a payment and reward tool within the platform. Data scientists who make accurate market predictions are rewarded in NMR. This encourages participants to submit their best predictions. According to Numeraire, there is a maximum supply of 21 million NMR tokens. So there will never be more than 21 million tokens in circulation.

Staking NMR is quite easy on the Numerai platform. First, you buy NMR tokens using a platform such as Bitvavo. Then you transfer these tokens to your Numerai account. You can the stake NMR tokens on your predictions in the Numerai Signals and Numerai Tournament applications. To participate, you must submit your predictions and stake your NMR tokens on the outcomes you consider most likely.

When you predict correctly, you will be rewarded with additional NMR tokens that will be automatically added to your Numerai account. However, if your prediction is incorrect, the staked tokens will be permanently removed from circulation. This ensures a fair and transparent reward system where accuracy and correct analysis are rewarded.

Numeraire is a unique project for several reasons:

• Traditional stocks on the blockchain: Numeraire combines the world of traditional stocks with blockchain technology. This allows it to address some major inefficiencies.
• AI and machine learning: Numeraire uses an AI aggregation model, the meta model, to collect and analyze predictions. The combination of collective intelligence, AI, and machine learning increases the accuracy of market predictions.
• Decentralized predictions: Users from all over the world can participate and submit their market predictions. This provides a wide range of insights and analysis.
• Erasure protocol: This protocol ensures a fair reward system. NMR tokens are destroyed for incorrect predictions and new tokens are minted for correct predictions.

At Bitvavo, you can buy Numeraire (NMR). Our platform is suitable for both novice and experienced traders. Here are the steps to buy NMR tokens via our website and app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Navigate to the Numeraire (NMR) purchase page.
4. Enter the amount in euros you want to spend or the number of NMR tokens you wish to purchase and click "Buy".

After purchasing, your NMR tokens will be automatically credited to your Bitvavo account, where you can easily manage and trade them. The process for selling NMR tokens is just as simple, allowing you to react quickly to price and market changes.

You can safely store your NMR tokens in your Bitvavo account. The majority of assets are stored in cold storage by Bitvavo, which means they are managed offline for added security. We also recommend enabling two-factor authentication (2FA) as an extra layer of security for your account.

There are many software and hardware wallets that support NMR. After purchase, you can easily transfer NMR coins to an external wallet by linking the wallet address to your Bitvavo account. This gives you full control over your cryptocurrencies and allows you to manage them safely.