How to Lend Numeraire (NMR): A Step-by-Step Guide for the UK

Introduction

Lending Numeraire can be an excellent option for those who wish to hold NMR while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.

Step-by-Step Guide

1. Obtain Numeraire (NMR) Tokens
To lend Numeraire, you need to possess it. To obtain Numeraire, you'll need to purchase it. You can choose from these popular exchanges in the UK.
Platform Coin Price
Binance Numeraire (NMR) 9.87
BTSE Numeraire (NMR) 9.85
Coinbase Numeraire (NMR) 9.88
Kraken Numeraire (NMR) 9.87
OKX Numeraire (NMR) 9.08
Uphold Numeraire (NMR) 8.2
View all 47 prices
2. Choose a Numeraire Lender in the UK
Once you have NMR, you'll need to choose a Numeraire lending platform to lend your tokens. You can see some options here.
Platform Coin AER
Kucoin Numeraire (NMR) Up to 0.5% AER
3. Lend Your Numeraire
Once you've chosen a platform to lend your Numeraire, transfer your Numeraire into your wallet on the lending platform. Once it's deposited, it will start earning AER. Some platforms pay interest daily, while others do so weekly or monthly.
4. Earn AER
Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compounding interest to maximise your returns.

Platform	Coin	Price
Binance	Numeraire (NMR)	9.87
BTSE	Numeraire (NMR)	9.85
Coinbase	Numeraire (NMR)	9.88
Kraken	Numeraire (NMR)	9.87
OKX	Numeraire (NMR)	9.08
Uphold	Numeraire (NMR)	8.2

Platform	Coin	AER
Kucoin	Numeraire (NMR)	Up to 0.5% AER

What to Be Aware Of

Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Do not lend more than you are prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.

Latest Movements in the UK

Numeraire (NMR) is currently priced at US$0.5 with a 24-hour trading volume of US$8.4M. The market cap of Numeraire stands at US$113.51M, with 7.64M NMR in circulation. For those looking to buy or trade Numeraire, Kucoin offers avenues to do so securely and efficiently

Market capitalisation: US$113.51M
24-hour volume: US$8.4M
Circulating supply: 7.64M NMR

See the latest information

Frequently Asked Questions About Lending Numeraire (NMR) in the UK

What is Numeraire (NMR) and what is it used for?: Numeraire (NMR) is the native token of the Numerai project, a platform that blends data science with capital markets. NMR is used to stake on the Numerai tournament, pay for data science modeling services, and incentivize researchers who contribute models and signals. Participants who stake NMR can earn rewards when their models perform well, aligning incentives between data scientists and the platform. Beyond staking, NMR can also function as collateral in certain Numerai products and may be traded on supported exchanges, offering liquidity and potential price appreciation as demand for Numerai’s data science market grows.
How many NMR tokens are in circulation and what is the max supply?: As of now, about 8.01 million NMR are in circulation. The project has a hard cap of 11 million NMR tokens, meaning the total supply will not exceed this amount. This limited supply can influence scarcity and potentially impact price dynamics over time. Investors should monitor circulating supply versus total supply and any protocol-level token economics updates from Numerai, especially around staking rewards, emissions, or changes to the tournament model that might affect demand for NMR.
Where can I buy or trade Numeraire (NMR), and what should I consider before trading?: NMR is listed on several crypto exchanges, enabling users to buy, sell, or trade the token with fiat pairs or other crypto assets. Before trading, check current liquidity, trading volume, and applicable fees on your chosen exchange. Also review the project’s staking mechanics, as rewards and lock-up periods can affect short-term price movement. Given Numeraire’s niche role in data science markets, price can be sensitive to developments in Numerai’s tournaments, partnerships, and overall market sentiment toward crypto-supported data science platforms. Always use reputable exchanges, enable two-factor authentication, and consider setting price alerts or limit orders to manage risk.
What is the price trend for NMR, and what factors influence its volatility?: NMR recently traded around $9.34 with modest daily movement. Its price can be influenced by Numerai’s tournament activity, data science innovations, investor demand for staking rewards, and broader crypto market conditions. Positive developments, such as new data science competitions, stronger model performance metrics, or partnerships, can boost demand for NMR and push prices higher. Conversely, market downturns, regulatory changes affecting crypto staking, or concerns about project fundamentals can lead to increased volatility. For risk-aware investors, it helps to monitor Numerai’s announcements and the performance of the data science ecosystem that NMR underpins.
Is there any risk or cautionary information I should know before investing in NMR?: Like any crypto asset tied to a specific platform, NMR carries project-specific risks. These include reliance on Numerai’s ongoing success in delivering valuable data science tools, competition from other data science and hedge fund ecosystems, and potential changes to tokenomics or staking mechanics. Additionally, regulatory developments around crypto staking and token rewards could impact rewards or access. Diversify holdings to manage risk, stay informed through official Numerai channels, and consider how large a stake aligns with your risk tolerance and investment horizon. As always, only invest what you can afford to lose and perform thorough due diligence before committing capital.