Numeraire Price, News and Analysis (NMR)

Numeraire (NMR) Frequently Asked Questions

What is Numeraire?

Numerai is a network of data scientists that are incentivised to forecast models to improve hedge fund returns. Numaire is the token that facilitates the reward structure that correct predictions receive. Founders described it as a social network or software company whose business model happens to be a hedge fund. USV partner Andy Weissman says, “Network effects get more valuable with every participant that uses them. What’s an example of that in a financial institution? We’ve never seen one before except for this.” Numerai has already raised $7.5 million in traditional venture capital from Union Square Ventures, Joey Krug (Augur), Juan Benet (FileCoin), Fred Ehrsam (Coinbase), and Olaf Carlson-Wee (Polychain). So the Numeraire token will not be sold in a “crowdsale” or “ICO”. In Febuary 2017 1,000,000 NMR tokens were issued to 12,000 data scientists. White paper Forum (Description provided by CryptoCompare)

How do I buy Numeraire?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Numeraire.

Where can I get Numeraire wallet?

Numeraire produces its own wallet software that is available for download on its website, which allows you to store Numeraire on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Numeraire?

One Numeraire (NMR) is currently worth $43.26 on major cryptocurrency exchanges. You can also exchange one Numeraire for 0.00069696 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Numeraire in U.S. dollars is $441.20 million.

What hashing algorithm does Numeraire use?

Numeraire is a coin that uses the ETH Token algorithm.

What coins are similar to Numeraire?

The following coins use Numeraire's ETH Token algorithm and proof-type: Starname, Binance USD, Chainlink, Polygon, Polygon, Axie Infinity, DREP, DREP [old], FTX Token, Dai, THETA, Fantom, Crypto.com Coin, PancakeSwap and Aave.

What is the Reddit page for Numeraire?

The official Reddit community (subreddit) for Numeraire is r/numerai.