NMCCX is the first-ever member-based cryptocurrency exchange in India that was introduced in June 2018. It is a trading platform for multi-crypto exchange. At the moment, the exchange platform deals in Bitcoin, Ethereum, Ripple and Litecoin.
The company provides two-platform exchange model, OTC and P2P, where users/members can buy/sell and trade cryptocurrencies across the blockchain network, safely and securely all under one roof. The mobile-based OTC app helps buyer/seller or user, who is not interested in high frequency trading, to buy or sell cryptocurrencies and is serviced by Trading Member of the exchange.
The mission and purpose of NMCCX is to connect buyers and sellers to the most trusted and verified trading members across the digital platform.
Why NMCCX To Buy/Sell Cryptos?
Just as in the case of normal shares, trading members help to sell and purchase stocks from the market instead of dealing with the market directly. For cryptocurrencies, there are specialized Trading Members (TM) and Professional Clearing Members (PCM). Trading Member is a participant in Price Discovery Process in which high frequency trades are done depending on the latest factors affecting the value of the asset under consideration. Whereas, a Professional Clearing Member acts as a clearing house and does trade settlements like in any other conventional stock/commodity exchange. The trading members, who have years of experience, handle all the cumbersome tasks, provide support and respond to questions.
NMCCX allows you to locate a qualified trading member nearest to your location. The trading members used by NMCCX are verified professionals, who are trained for trading on the NMCCX platform. Through these trading members, the profits of cryptocurrency trading are realized by selling high and buying low. The trading members help users to sell their cryptocurrencies for fiat currencies and vice-versa. Most of the time these trading members are used to handle large volumes of transactions to protect the cryptocurrency from volatility.
More About NMCCX
With NMCCX, this is the first time a company is following the traditional member-trader model and matching the footsteps of NSE, BSE and MCX. They provide buyers and sellers with hassle-free transactions and efficient customer support for a better experience. The company has a robust investor protection policy, which makes it unique.
Cryptocurrency exchange NMCCX believes that providing trading platform is just one job for an exchange. They try to see an exchange as a trust which helps financial market participants realize the objective of participation in a trustful and transparent fashion.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]