Minexcoin (MNX) is a low volatile cryptocurrency global payment system. It is secure, reliable, and a viable means of investment. It aims to build a digital asset system that can be an effective currency for making payments using the blockchain technology. The most significant advantage of the system is its well-organized way of controlling volatility. Unlike the other cryptocurrencies that follow Ethereum, Minexcoin adopts the Bitcoin blockchain. It is developed by a closed group of business professionals, professors, programmers and right since its inception has become a topic of interest even among the community of bitcoin members.
MNX aims to keep the exchange rate under control trying to maintain the fluctuation within 5 percent (higher or lower) of closing price the previous day. The 5 % range is the normal practice that is adopted by the financial exchanges and they stop the trading to discourage speculations and investors from trying to gain control. MNX is slightly different when it comes to the 5% range. It either reduces/ increases the interest charges for the parking payouts in accordance with the situation or intervenes by buying/selling MNX.
Minexcoin is governed by the Minexbank and adopts an efficient manner and maintains the price using the two processes of Parking and Intervention. Parking can be defined as a system where a certain quantity of the user’s coins is kept as a deposit on an interest. The interest rate varies depending on the tenure of deposit and the demand/supply ratio. When there is an increase in demand, the interest rates are lowered and similarly when the demand is lower, the interest rates are hiked to create a demand. In addition, the Minexbank uses its own intervention process by buying and selling MNX to keep a control and regularize the market pressures.
Minexcoin launched its Initial Coins Offerings (ICO) for about a month and distributed 1,50,000 Minex coins. It drew an immense response and is growing in popularity working as an attractive form of value storage. It comes as an alternative to the other altcoin business coins and promises to be a profitable long-term investment. It has already shown its potential with its annual growth of 33.6%. MNX is a no-risk interest earning system and currently is having a 24% monthly and its developers are confident of its growing more popular and profitable at lower risks than Bitcoin. They hope it will soon be accepted as a form of currency without being bogged down by any centralized system.
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