Parking MinexCoin, an Easy Route to Saving

Jayanand Sagar | October 19, 2017 | 12:29 am
minexcoin, minex, cryptocurrency

Parking MinexCoin, an Easy Route to Saving

Jayanand Sagar | October 19, 2017 | 12:29 am

While the crypto world is disturbed about ICO bans, regulatory actions, and other uncomfortable innovations, we decided to reсall the project which lets you wait out the storm.

Latest crypto news around the world have already caused quite a stir, and most experts agree that things will undoubtedly be very interesting in the near future. There is no secret that news like this will have a direct effect on not just the media but also cryptocurrency exchange rates as well.

If you’re a professional trader, such reports can help garner huge profits (or losses). But, if you’re a novice in crypto trading or a person who only wants to diversify his assets portfolio, then you would probably wish for something that can significantly reduce risks in this situation.

Either way, we would like to remind you about MinexCoin (or MNX by its ticker), an ambitious project of the MinexSystems company based on low volatility cryptocurrency. The team successfully finished their ICO and had applied for an exchange listing after several major updates to the client and coin’s MIP (Minexcoin Improvement Proposal).

The development of MinexCoin is based on Bitcoin with a familiar GUI. However, unlike other cryptocurrencies whose prices are prone to wild fluctuations, the coin is designed to stay stable and strong while registering a continued growth in price.

How Does MinexCoin Avoid Volatility?

MinexCoin’s ability to overcome volatility is made possible by the system’s autonomous algorithm which operates in accordance with the principles of the central bank and actually called MinexBank. In a nutshell, this algorithm maintains low volatility of MNX through ”coin interventions” and “coin parking” — a tool that can incentivize the users to hold on to their coins than trade it. The temporary suspension of coins will be followed by interest payments, based on the holding status.

“And what makes this “Parking” different from the regular depositing?” – You can ask. Well, while depositing implies you give your assets to a third party like a bank, parking only means a temporary suspension of a number of coins designated by you in your wallet. In order to get interested from the parked coins, you undertake to withhold the coins at a specific address of your wallet for a certain period of time (from one day to one year), i.e., the address which is linked to the bank account.

If the need arises to use the suspended coins before the parking term ends, you still may spend it. In that case, you just won’t have your interest from the parking, but you can get more profit from selling your assets for a better price or from RE-parking for a better percentage. Yes, you will have to monitor and count MNX’ rates because occasionally it would be more profitable to re-park your assets from a day to a week for example.

“We’re working on the whole range of own products that will make us a real game-changers in cryptocurrency world.” – Says Boris Shulyaev, Founder & CEO MinexSystems. – “We believe that implementation of the perspective alternative visions in current situation, when blockchain companies are learning on experience of traditional banking systems and vice versa, can change the status quo of cryptomarket. Our first step in this way is a MinexBank system and memorandum that explains its working process to the crypto community. We see clear goals for our product, and we look forward to collaborating with users that like-minded with our philosophy”.

About MinexSystems

“Minex Systems Limited”, a Hong Kong registered company, specializes in blockchain product development. The company offers solutions which include the best of both the worlds (conventional financial system and cryptocurrency ecosystem) and work on unified Minex Platform. To date, the flagship product, MinexBank, is an autonomous algorithm for controlling the volatility of MinexCoin.

The information provided here should not be interpreted as advice or encouragement for investments of any kind. Users are responsible for investigating and researching each company themselves before deciding to support them.

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

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