Crypto-currencies have always been under the speculation of high volatility. MinexCoin is an ambition project initiated by MinexSystem which attempts to solve the problem of volatility. It will start trading on November 1st. It offers an innovative solution that uses both the blockchain technology and the traditional finance system to deal with the problem of high volatility.
Experienced trades bank with high profits speculating large rises and falls in coins, yet the risks pertaining to price fluctuations scare new users and businesses specially away from cryptocurrencies. MinexCoin is developed to solve this problem and help users gain more confidence towards crypto-currency by offering them a stable asset.
This coin is based on the software of Bitcoin but unlike other coins offered in the market, this coin is supported to stay stable and stay strong while its price grows at a permanent rate. To help with the issue MinexCoin (MNX) uses an automatic algorithm to take help of a central authority or a bank that maintains the cost of the currency, so it doesn’t deflate. This bank is known as MinexBank which works on two main principles, coin interventions and a tool name Parking. These two instruments stabilize MNX rates.
Parking is a tool which temporarily suspends the MinexCoin so they cannot sell or bring coins to the market. Instead they receive interest payments for holding their coins. Parking only means a suspension of the amount of coins in your wallet. If you need to sell your coins in the Parking period, you may spend it to get more profit from selling your assets for a better price or re parking for a better interest.
Boris Shulyaev, founder and CEO of MinexCoin says “World is showing a demand for digital products that can bring fresh ideas and solutions not only to the professional crypto community but to everyone who makes the first step in discovering the blockchain and crypto industry.”