NKYC is relatively new project in a field of decentralized cryptocurrency exchanges that plans to make trading as easy as it can be without violating users’ privacy and security Nonkyc.io Exchange is the project behind NKYC which name speaks for itself – it is a trading platform where users can buy and sell cryptocurrencies without submitting to the Know Your Customer KYC procedures.
The token that powers the Nonkyc.io ecosystem is referred to as the NKYC token As at the time of writing this post the token had a value of approximately 2792 USD Within the last 24 hours the value of the token had risen by about 473 percent This puts NKYC in the middle of the pack of cryptocurrencies with its current ranking of 4231 based on market capitalization.
As of right now, the settlements of NKYC have reached around 111668048 USD Hence, the exchange has been able to find its place amidst strong competition in the crypto market There have been 30969 USD worth of transactions in the coin within the last 24 hours, and while the volume-to-market cap ratio is not among the highest, it demonstrates pretty decent activity and traders attention.
One of the most captivating elements of NKYC is tokenization The total number of NKYC tokens available is 21000000 This is based on the scarcity model that Bitcoin made famous The idea of having a limited number of tokens intended to fuel the token’s value growth in the future Similarly, out of the total supply, 4000000 tokens are currently in circulation, occupying about 1905% of the total supply By doing this, there is
The market capitalization, assuming all tokens were in circulation, is calculated at 586257252 USD At the same time, fully diluted market capitalization lets investors assess the project potential in case of its maximum supply and success The number is considerably higher compared with the current market capitalization, yet the growth potential for early investors is definitely greater due to this indicator.
Nonkyc.io Exchange the platform behind NKYC intends to solve one of the biggest controversies in the crypto world the need to use KYC procedures Traditional trading platforms often demand users to disclose their information and complete identity verification processes which take a lot of time and might be invasive By doing so Nonkyc.io aims to create a more open and less intrusive trading environment
The NKYC exchange idea can also be regarded as fitting into the original idea of cryptocurrencies that have been centralized and removing personal anonymity While this presents a new idea it also raises issues concerning compliance and possible nefarious actions The team behind NKYC will have to deal with these issues as the platform and its user base grow
Like with any crypto investment, NKYC has its pros and cons The market cap and trading volume in comparison with such cryptocurrencies like Bitcoin and Ethereum are still relatively low which can mean better volatility But it also means great opportunities for this token if it’ll become more popular
This is because the success of hitherto NKYC mainly relies on the adoption of the Nonkyc.io Exchange and acceptance of trading pairs of NKYC If the platform could hailed user base with current competitive trading option then there could be a lot of growth But the space of Decentralized exchanges concerning is already growing under Regulatory bans mostly those who do not conduct proper KYC.
In conclusion NKYC is an elegant addition to the wide-spread decentralised finance sphere that can potentially solve the issue of anonymity in cryptocurrency trade Its fixed supply paired with NKYC trading plan could be an appealing selling point for those who have concerns about their anonymity But as it always goes with every cryptocurrency project holders and investors the pros and cons must be looked at before deciding to venture in the market The next few months will define whether NKYC will fill the
