ONUS

ONUS is a comprehensive cryptocurrency investment platform that has rapidly gained prominence, particularly in Vietnam and other Southeast Asian markets. Launched in March 2020, it has attracted over 4 million users across more than 20 countries, offering a user-friendly interface and a wide array of digital asset services.

Information you need to know about ONUS exchange

ONUS exchange, a cryptocurrency investment application, was launched in March 2020. Over 18 months of continuous development and refinement, it has grown into one of Vietnam’s most popular digital asset investment platforms, boasting over 3 million users and a comprehensive ecosystem of investment products. Designed with newcomers in mind, the exchange offers user-friendly, secure digital financial solutions that are easy for anyone to navigate.

In addition to being a leading digital asset investment app in Vietnam, ONUS has developed an extensive ecosystem for its users. A key component is the ONUS Chain, a high-performance, scalable, and secure smart contract platform compatible with Ethereum Virtual Machine (EVM). It has also been licensed as Digital Asset Service Providers (VASPs) in three countries: Lithuania, Poland and the Czech Republic.

Built on the BNB Application Sidechain (BAS), the ONUS Chain provides an accessible, cost-effective platform with low entry costs and minimal gas fees. Its goal is to become “A blockchain for mass adoption of DeFi and Web 3.0,” welcoming developers and users alike with a familiar and inclusive interface.

ONUS serves as the native token for the ONUS Chain, playing a critical role in securing the network through validator staking, governance, payments, and transaction fees. It functions as both a utility token and a governance token within the ecosystem.

As outlined in the updated tokenomics released on October 8th, 2022, the mainnet circulating supply is 40,106,390 ONUS out of a total of 97,106,390 ONUS. Of this total supply, 33.06% is allocated to the community, 5.15% was raised through a strategic funding round for the ONUS Foundation, 25.74% supports the ONUS Chain Ecosystem & Community Development Fund, 20.6% is reserved for the Foundation, 10.3% is allocated to the Core Team, and 5.15% is reserved for Advisors & Employees.

Securing the Network

The primary utility of the ONUS token is to ensure the security of the network using a Proof-of-Authority (PoA) system. This mechanism not only prevents centralization but also promotes environmental sustainability.

On-Chain Governance

ONUS plays a pivotal role in on-chain governance. Since the ONUS Chain is fully decentralized and operates without permissions or centralized leadership, decisions regarding the network are made through governance. Stakers can propose and vote on changes or upgrades, using this coin as the required governance token for participation in the voting process.

Transaction Fees

ONUS is also utilized to cover transaction fees, smart contract deployment, and the creation of new networks. The fees on the ONUS Chain are low enough to remain accessible yet high enough to deter malicious attacks. Transactions are nearly instantaneous, taking about 1 second to complete, with a cost of approximately 50 Gwei.

Trading Products and Services

ONUS provides a variety of trading products and services designed to meet the needs of diverse users:

• Spot Trading: The exchange enables users to engage in spot trading for a vast selection of cryptocurrencies, facilitating immediate transactions at current market prices. This feature is designed to be accessible for both beginners and experienced traders.
• Futures Trading: For those interested in derivatives, it offers futures trading with leverage options, allowing users to speculate on the future price movements of various cryptocurrencies. This feature caters to traders seeking to maximize potential returns through leveraged positions.
• Staking and Farming: It provides opportunities for users to earn passive income through staking and farming programs. By participating in these programs, users can earn interest on their crypto holdings, with some products offering up to 24.09% annual percentage yield (APY).
• DeFi Wallet Integration: The platform integrates decentralized finance (DeFi) wallets, allowing users to manage multiple blockchain assets within a single application. This integration simplifies the process of storing, sending, and receiving various cryptocurrencies.

ONUS Fee Structure

Here’s a breakdown of ONUS’s basic fees:

Spot Trading:

• Maker Fee: 0.1%
• Taker Fee: 0.1%

Futures Trading:

• Maker Fee: 0.02%
• Taker Fee: 0.04%

P2P Trading:

• Maker Fee: 0.10%
• Taker Fee: 0.12%

Simple Guide to Getting Started with ONUS

Getting started with ONUS is simple and beginner-friendly, making it a great choice for anyone entering the cryptocurrency world. Whether you’re looking to invest, trade, or explore blockchain technology, it offers a seamless platform to meet your needs. Follow these steps to begin your journey:

Creating an ONUS Account

Setting up an ONUS account is quick and easy. Just follow these steps:

• Step 1: Visit the ONUS registration page by clicking “Open Account” at this page.
• Step 2: On the login screen, select “Sign Up” and proceed with the registration.
  • If registering with a phone number, verify it via SMS.
  • If using an email, activate your account via the confirmation email (check your spam folder if you don’t see it).
• Step 3: Log in using the phone number or email you registered with.

Verifying Your Account (eKYC)

To start trading, you’ll need to verify your ONUS account. Here’s how:

• Step 1: On the main screen, tap the “Settings” icon.
• Step 2: Scroll down and select “Account Verification.”
• Step 3: Choose the type of verification document.
• Step 4: Follow the instructions to upload photos:
  • Ensure your document is clear, uncropped, and shows all required details.
  • Take a sharp, well-lit selfie for facial verification.

If everything is correct, your eKYC will be approved in just 10 seconds!

Adding Funds to Your Account

To start trading, you need to deposit funds into your ONUS account. The platform supports multiple payment methods, including bank transfers and partner payments. Simply ensure your bank account has Internet Banking enabled for a smooth and fast deposit process.

Buying and Selling Cryptocurrencies

After funding your account, you can start buying and selling cryptocurrencies. The process is beginner-friendly:

• Select the cryptocurrency you want to trade.
• Enter the amount you wish to buy or sell.
• Confirm the transaction in just a few steps.

Withdrawing Funds

To withdraw funds from ONUS:

• Select your preferred withdrawal method.
• Enter the required details and confirm the transaction.
  Withdrawals are processed quickly, so you’ll receive your money in no time.

Some Beginner Tips for Trading on ONUS

Starting your cryptocurrency trading journey can be daunting, especially if you’re new to the market. To help you navigate ONUS and trade with confidence, here are detailed tips for beginners:

1. Learn the Basics of Cryptocurrency and Blockchain: Understanding how cryptocurrencies and blockchain technology work is essential. Familiarize yourself with terms like wallets, blockchain, staking, liquidity, and trading pairs. It provides educational resources, including articles and tutorials, to help beginners build a solid foundation.
2. Start Small and Gradual: When you’re new, it’s best to start with small investments. Test the platform with low amounts to understand trading mechanics and minimize risks. As you gain experience, you can gradually increase your investment.
3. Use Risk Management Strategies: The volatile nature of cryptocurrencies means that prices can fluctuate significantly in a short time. Always set a stop-loss order to limit potential losses. This feature automatically triggers a sale when the price of an asset drops to a certain level.
4. Diversify Your Investments: Avoid putting all your funds into a single cryptocurrency. Diversify your portfolio by investing in multiple coins to spread risks. For instance, you might balance between stablecoins like USDT and more volatile options like Bitcoin (BTC) or Ethereum (ETH).
5. Utilize ONUS Tools and Resources: Take advantage of its advanced trading tools, such as:
   • Technical Analysis Charts: Visualize market trends.
   • Market Insights: Stay updated with news and analytics.
   • Trading Bots: Automate your trades for more efficiency.
6. Practice Emotional Discipline: Cryptocurrency trading often triggers emotional reactions, especially during market volatility. Avoid impulsive decisions driven by fear or greed. Stick to your trading strategy and focus on long-term goals.
7. Stay Updated with Market Trends: Keep track of global financial news and developments in the cryptocurrency space. Markets can react strongly to regulatory updates, technological advancements, or macroeconomic events. Use the blog and news feed to stay informed.
8. Engage in Community and Support: Join cryptocurrency communities on social platforms like Reddit, Telegram, or Twitter to exchange knowledge and stay connected with other traders. The platform also has a dedicated support team to help with any issues or questions.

By following this detailed guide and incorporating these tips, you’ll be better prepared to navigate the exchange and maximize your trading experience.

Frequently Asked Questions

1. Is ONUS safe to use?

Yes, it employs industry-leading security measures, including cold wallet storage, two-factor authentication, and continuous monitoring, to ensure the safety of user funds.

2. Do I need KYC to trade on this platform?

Basic trading is available without KYC. However, completing verification unlocks higher withdrawal limits and additional features.

3. What is ONUS Token used for?

It provides trading fee discounts, staking rewards, and access to exclusive features on the platform.

4. Does ONUS support fiat deposits?

Yes, it supports fiat deposits through various methods, including bank transfers and credit/debit cards.

5. What is the ONUS Launchpad?

The ONUS Launchpad is a platform for investing in innovative blockchain projects through IEOs, offering early access to promising tokens.

ONUS is a reliable and innovative cryptocurrency exchange offering a wide range of trading products and services. Whether you’re new to crypto or an experienced trader, it provides the tools and resources needed for a successful trading experience. With its focus on security, user satisfaction, and innovation, ONUS is a top choice for traders worldwide.