Mobile Coin Investment: A Beginner's Guide To Crypto

MobileCoin (MOB) is a peer-to-peer cryptocurrency that aims to provide fast, secure, and anonymous transactions with low fees and a low environmental impact. It was founded in 2017 by Joshua Goldbard and Shane Glynn and is designed to be integrated into popular messaging apps like WhatsApp and Facebook Messenger. As of March 2023, there is a circulating supply of 195,286,109 MOB, with a total supply of 250,000,000 coins. MobileCoin can be bought, sold, or traded on several major exchanges, including Binance, Gate.io, Bitfinex, and Bitrue. In this article, we will explore the key features, benefits, and potential use cases of MobileCoin, as well as provide a step-by-step guide on how to invest in this cryptocurrency.

MobileCoin's unique selling points

MobileCoin is a privacy-focused, peer-to-peer cryptocurrency that launched in December 2020 and is used for normal daily transactions. Here are its unique selling points:

Privacy and Security

MobileCoin is a privacy-focused cryptocurrency that ensures only the sender and recipient can see transactions. This is achieved through blockchain encryption, which allows transactions to be done quickly and securely. It also leverages the SGX feature of Intel processors, which enables servers to run a code that the ICT team operating the server cannot access or alter. This ensures that any remaining data after a transaction is eliminated, protecting the transaction from third-party access.

Speed and Efficiency

MobileCoin transactions are fast, taking less than five seconds to finalize, which is much quicker than Bitcoin, which takes at least 10 minutes. This makes MobileCoin ideal for everyday transactions, such as buying a cup of coffee, where speed is essential.

Energy Efficiency and Eco-Friendliness

MobileCoin uses the Federated Byzantine Agreement model, which allows node servers to stay dormant and only become active when there is work to be done. This makes its energy consumption equivalent to that of normal household appliances, saving a substantial amount of energy. It is also the first carbon-negative cryptocurrency, recognized by Hacker Noon for its initiatives to offset its carbon footprint.

Mobile Optimization

MobileCoin is designed to be used on mobile devices, which is a unique feature compared to other payment apps. This allows users to control their transactions from anywhere, at any time, providing convenience and flexibility.

User-Friendliness

MobileCoin is easy to use, with a simple and intuitive interface that allows users to send, receive, and track transactions. It also provides a smooth connection between wallets and mobile phones, and users can easily restore their wallets if needed.

Where to buy MobileCoin

MobileCoin (MOB) is a privacy-focused cryptocurrency established in 2017 by MobileCoin Inc. It is designed to function as digital cash on mobile devices, with fast and encrypted transactions. As of March 2023, it is possible to buy, sell, or trade MobileCoin on several major exchanges and crypto markets.

Step 1: Register on a Fiat-to-Crypto Exchange

First, you need to purchase one of the major cryptocurrencies, such as Bitcoin (BTC), from a fiat-to-crypto exchange. Popular exchanges include Uphold.com and Coinbase, which offer different features and fee policies. It is recommended to try out a few and figure out which one suits your needs best.

Step 2: Buy BTC with Fiat Money

After setting up your account and completing the Know-Your-Customers (KYC) process, you will be asked to add a payment method. You can use a credit/debit card or opt for a bank transfer. Credit card purchases are instant but may incur higher fees, while bank transfers are usually cheaper but slower.

Step 3: Transfer BTC to an Altcoin Exchange

Since MobileCoin is an altcoin, you will need to transfer your BTC to an exchange where MobileCoin can be traded. Gate.io is a popular choice for this, with a wide selection of trading pairs and impressive trading volume.

Step 4: Deposit BTC to the Exchange

You may need to go through another KYC process, which can take up to a few days. Once completed, you will have full access to your exchange wallet.

Step 5: Buy MobileCoin

On Gate.io, select "BTC" in the right column and search for "MOB" in the search bar. Select the MOB/BTC pair and enter the amount you want to spend. Then, click "Buy MOB."

Step 6: Store MobileCoin Securely

Finally, it is recommended to store your MobileCoin in a secure hardware wallet, such as the Ledger Nano S or Ledger Nano X, to keep your coins safe.

Some of the most popular exchanges to buy MobileCoin include:

• Gate.io
• Binance
• Bitfinex
• Bitrue
• Tokocrypto
• CoinEx
• Pionex
• BigONE
• BingX

MobileCoin's history

MobileCoin is a peer-to-peer cryptocurrency developed by MobileCoin Inc., which was founded in 2017 by Josh Goldbard and Shane Glynn. The company is headquartered in San Francisco, California.

MobileCoin is a cryptocurrency platform that develops P2P payment tokens and digital payment systems for mobile. It combines privacy, security, and distributed trust with a great user experience. The platform aims to provide secure, easy, fast, and encrypted transactions, striving to protect personal data. It is designed so that a mobile messaging application like WhatsApp, Facebook Messenger, or Signal could integrate with a MobileCoin wallet.

MobileCoin claims to focus on transactional anonymity, ease of use, transaction speed, low environmental impact, and low fees. It is a one-dimensional cryptocurrency blockchain that uses a consensus protocol originally developed for the Stellar payment network. Transactions are validated in SGX secure enclaves and are based on elliptic-curve cryptography.

In May 2018, MobileCoin secured $29.7 million in a funding round led by Binance Labs, in exchange for 37.5 million tokens. The foundation raised $11.35 million in venture funding in March 2021 and $66 million in Series B funding in August 2021. Investors include Alameda Research, Coinbase Ventures, Gaingels, and Marc Benioff.

The MobileCoin network went live in December 2020, and as of March 2023, there is a circulating supply of 195,286,109 MOB, with a total supply of 250,000,000 coins.

How to use MobileCoin

MobileCoin is a peer-to-peer cryptocurrency developed by MobileCoin Inc. It is designed to facilitate decentralised payments for everyday transactions more quickly and with lower fees than most other cryptocurrencies. It also claims to have a low environmental impact.

MobileCoin is a privacy-preserving payments network designed for mobile devices. It is a decentralised payment platform where transactions are stored on a blockchain ledger. It is intended to be an accessible form of cryptocurrency with a focus on fast transactions. It is also open-source, allowing users to verify the programming techniques.

To use MobileCoin, you must first read and accept the Terms of Use for MobileCoins and MobileCoin Wallets. The MobileCoin wallet is available on desktop and mobile devices. To send or receive funds, a user enters a PIN code. Confidentiality is a priority, and the platform applies ring signatures to authenticate the ownership and use of digital assets. Users can always recover their keys with a recovery PIN.

MobileCoin can be integrated into messaging apps like WhatsApp, Telegram, Facebook Messenger, and Signal. It is also available for trading on several major exchanges and crypto markets, including Binance, Gate.io, Bitfinex, and Bitrue.

MobileCoin's key components

MobileCoin is a peer-to-peer cryptocurrency developed by MobileCoin Inc. with a focus on transactional anonymity, ease of use, transaction speed, low environmental impact, and low fees. The key components of the MobileCoin ecosystem include:

• MobileCoin Wallet: A native product and a non-custodial wallet available on desktop and mobile devices.
• MobileCoin Recovery PIN: Users can restore their wallets with a private key, using a recovery PIN.
• MobileCoin Consensus Protocol (MCP): MCP uses the Stellar Consensus Protocol (SCP) for fast confirmation of payments and to form an end-to-end encrypted environment.
• Software Guard Extension (SGX): SGX is an encryption and isolation technology that provides an additional layer of security to the blockchain and protects data.

MobileCoin is designed to be integrated into messaging apps like WhatsApp, Telegram, Facebook Messenger, and Signal, allowing users to send and receive funds with a PIN code. Confidentiality is a priority, and the platform applies ring signatures to authenticate the ownership and use of digital assets.

Frequently asked questions