UMA
About UMA
UMA or Universal Market Access is a protocol that makes it possible to create synthetic assets on the Ethereum blockchain. It was launched in December 2018. UMA enables anyone worldwide to design and implement self-executing and self-enforcing financial contracts which are secured through economic incentives and run on Ethereum's blockchain. UMA essentially allows counterparties to digitalize and automate any real-world financial derivative.
In the last hour, UMA's price has seen a change of -1.56%, and over the past 24 hours, its price has moved by -5.68%. Over the previous week, UMA's price has moved by +2.93%. The current price of UMA is AED 1.4846, accompanied by a trading volume of 27.16M in the last day. UMA's price is currently 99.07% below its all-time high of AED 159.27, which remains the highest price UMA has achieved since its launch. The circulating supply of UMA stands at 92.61M, translating to a total market capitalization of 137.5M.
Market stats
Frequently asked questions
How to invest in UMA?
Rain offers you a number of ways to start investing in UMA, including buying UMA through bank transfers or by using your bank card. To purchase UMA on Rain, you can select UMA in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy UMA with card?
Once you add your bank card to your Rain account, you can use it to buy UMA directly. You can start by adding your card to your payment options on your Rain account. To purchase UMA using your bank card, you can select UMA, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy UMA through bank deposit?
Rain enables you to buy UMA using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing UMA. To do that, you can select UMA in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell UMA?
This is an easy process that requires only a few clicks. Here are the steps needed to sell UMA successfully:
On your Rain account, select UMA then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert UMA into cash?
Rain gives you the opportunity to sell UMA and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell UMA and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive UMA?
If you would like to receive UMA in your Rain account, simply click on Receive and select UMA from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving UMA to avoid possible loss of funds.
How to send UMA?
You can easily send your UMA from your Rain account to any external wallet by clicking on Send and selecting UMA from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy UMA with Rain?
When you buy UMA with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing UMA on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a UMA wallet?
A UMA wallet is where you can securely store UMA. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a UMA address?
A UMA address is a string of unique characters that is tied to your UMA wallet. The address functions just like a bank account number and it is what you use in order to send UMA from your wallet, or to receive UMA to your wallet.
What trading pairs available for UMA?
There are over 200 currency pairs available on Rain for you to trade with. You can trade UMA with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap UMA with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy UMA?
You can trade UMA with any amount above $30 or equivalent in your account's currency. You can start trading UMA now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides UMA?
Besides UMA, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is UMA built on?
UMA is built on the ETH blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my UMA safe?
To keep your UMA safe, make sure to use trusted wallets that support ETH. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of UMA be in next 5 years?
Price predictions for UMA over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading UMA taxable?
Trading UMA may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is UMA's ATH?
UMA’s all-time high (ATH) was AED 159.27 on 04 Feb 2021. This represents the highest recorded market price of the asset to date.
What is the market cap of UMA?
With a market capitalization of 137.5M, UMA is ranked 278 among other crypto assets.
What is the all-time high of UMA?
The highest valuation of UMA since its launch was at AED 159.27, marking its all-time high.
What is the 24-hour trading volume of UMA?
The trading activity of UMA over the last 24 hours was at 27.16M, highlighting its liquidity in the market.
How many UMA are there in circulation?
There are approximately 92.61M units of UMA currently in circulation, affecting its market dynamics.
What is the relative popularity of UMA?
UMA market cap is around 137.5M.
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