What is UMA Coin ?

The live UMA price today is $13.02 USD with a 24-hour trading volume of $69,838,118 USD.

UMA, or Universal Market Access, is a protocol for the creation of synthetic assets based on the Ethereum (ETH) blockchain. In December 2018 the Universal Market Access come into popularity light.

Synthetic assets are a class of assets that represent different, underlying assets and have the same value. UMA specifically enables its users to design and create self-executing, financial contracts secured by economic incentives and run them on Ethereum’s blockchain.

In essence, UMA allows counterparties to digitize and automate any real-world financial derivatives. For example futures, contracts for differences (CFDs) or total return swaps. It also enables the creation of self-fulfilling derivative contracts based on digital assets, like other cryptocurrencies.

Famous exchanges to buy or sell UMA

Incredibly famous and safe exchanges to buy or sell the UMA tokens are  Binance, Mandala Exchange, Huobi Global, Upbit, and Gate.io. OKEx, and Coinbase Exchange. You can find others listed on our crypto exchanges page.

Features if coin

The main idea behind UMA is to develop a protocol for the creation of financial contracts on the blockchain. By seeking to democratize and decentralize the financial derivatives market the UMA is becoming no. 1.

The traditional financial markets have high barriers to entry in the form of regulations and custody requirements, which tend to preclude individuals from participating in them. It is often especially difficult for would-be traders and investors to take part in markets outside of their local financial system. This prevents the emergence of a truly inclusive global financial market and limits participation to a handful of institutions that can afford the necessary due diligence and legal procedures.

Universal Market Access contracts, on the other hand, are based on Ethereum’s blockchain, whose permissionless nature allows any user to create, run and trade digitized derivatives from anywhere in the world. This accessibility is especially important for the developing economies around the globe. The financial institutions are frequently far from maturity, forcing local market participants into relative isolation.