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Buy Universal Market Access

UMA

About Universal Market Access (AMA)

Universal Market Access is a decentralised platform that allows developers to create synthetic assets on the Ethereum blockchain. UMA is the governance token of the UMA protocol.

The set of UMA protocols was specifically created to remove third-party intermediaries from the financial derivatives market, ushering in an easily accessible global marketplace in which anyone, anywhere, can create and trade contracts. 

Co-founded by Hart Lambur and Allison Lu, both formerly of Goldman Sachs, the platform enables investors of all sizes to trade any asset using ERC-20 tokens but without actual exposure to the asset itself.

Smart contracts allow users to gain exposure to the price movement of any financial asset – provided a market maker on the platform is willing to provide exposure. Users can go long or short financial instruments and cryptos that otherwise would be difficult to access on centralised exchanges or over-the-counter (OTC) markets. 

Ultimately, the UMA goal is to build bespoke contracts tailored to individual needs and risk profiles. An investor may choose to collateralise his/her position represented on a UMA contract (let’s say, long equities) and then tokenise this risk via an ERC-20 coin. 

UMA coins are utilised by holders to vote on issues surrounding policies and potential upgrades of the underlying protocol. Token holders may vote on disputes/issues that come up in UMA’s Data Verification Mechanism (DVM). 

How the DVM works: Instead of adopting and constantly referencing a real-time price feed for financial assets/derivatives on the blockchain (an approach that could be prone to manipulation), the UMA protocol instead incentivises users to be ever-vigilant in checking token issuers’ smart contracts (validating that they meet collateral requirements). 

The supply of UMA is capped at 101 million tokens; and the current circulating supply sits at 55 million. 

UMA’s total value locked (TVL) is roughly $63 million. Some $21 million worth of synthetic tokens have been minted on the platform since its inception in 2018.

What is the price of UMA?

As of early February 2021, UMA was trading near $20. It has returned 631% since its initial coin offering (ICO). During 2020, the token dropped as low as $1.15 and as high as nearly $28. The trading activity of UMA tokens is relatively mild. Its ten-day average daily trading volume: just $45 million. 

The protocol’s utility as a global marketplace for the decentralised trading of synthetic assets is something that could very likely find its way into emerging markets during the coming years. That’s because the protocol provides secure and liquid transactions in ways that still-developing capital markets often have trouble accommodating. 

Given the recent social-media fueled push towards the democratization of investing, UMA represents an open door just waiting for retail investors to come running through – without any financial intermediaries waiting to cut into their profits.

How to buy Universal Market Access

With Uphold, you can set up an account, verify your identity and buy crypto with ease.

Here is how:

1. Go to Uphold.com and click ‘Sign up’

2. Enter your email address, phone number and your personal details

3. Tell us how you plan to use Uphold and provide some basic financial information (e.g., employment status and source of funds)

4. Verify your identity by providing an ID document and taking a ‘selfie’

… and you’re off to the races!

Just start trading.

Open an Uphold account

You should be aware that the risk of loss in trading or holding cryptoassets can be very high. As with any asset, the value of cryptoassets can go up or down and there can be a substantial risk that you lose all your money buying, selling, holding or investing in cryptoassets. Our cryptoasset services are not within the scope of the UK Financial Ombudsman Service and your cryptoassets are not subject to protection under the UK Financial Services Compensation Scheme. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition.

Uphold Europe Limited (FRN: 900577) is registered under the Financial Conduct Authority’s Temporary Registration Regime for cryptoasset firms and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 as amended. The purchase, sale and custody of cryptoassets is regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Uphold Europe Limited is also an EMD agent of Optimus Cards UK Limited which is authorised and regulated by the Financial Conduct Authority to issue e-money (FRN: 902034) pursuant to the Electronic Money Regulations 2011. 

The e-money services are regulated by the Financial Conduct Authority. E-money is not a deposit or investment account which means that your e-money will not be protected by the Financial Services Compensation Scheme. User funds will be held in a designated safekeeping account with a regulated financial institution. E-money will not earn any interest. Additional Risk Warning in Uphold’s Terms & Conditions.

This content is correct as of September 2021

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