MobileCoin

price
change

Discover MobileCoin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is MobileCoin?

MobileCoin (MOB) is a peer-to-peer cryptocurrency developed by MobileCoin Inc., focusing on transactional anonymity, ease of use, speed, low environmental impact, and low fees. It uses CryptoNote and zero-knowledge proofs to ensure privacy and is designed for secure, quick transactions on mobile devices. The cryptocurrency is built on Stellar's consensus protocol and Monero's privacy features, rewritten in Rust. MobileCoin is traded on various exchanges, including Bitfinex, and has been integrated into the Signal messenger app for peer-to-peer payments.

How is MobileCoin used?

MobileCoin (MOB) is a privacy-focused cryptocurrency designed for secure and fast mobile transactions. It is built on a decentralized blockchain technology, ensuring secure and transparent transactions between users without the need for intermediaries like banks or governments. Here are the key features and uses of MobileCoin:

  1. Private Transactions: MobileCoin uses ring signatures to conceal the amount of transactions, ensuring that transactions are kept confidential and cannot be traced back to individual users.

  2. Mobile-Friendly: The platform is specifically designed to be mobile-friendly, allowing users to easily make payments using their smartphones.

  3. Fast Transactions: MobileCoin transactions are designed to be fast and efficient, enabling users to send and receive payments quickly.

  1. Security: The project employs advanced cryptographic techniques to ensure that transactions are secure and cannot be tampered with. A team of security experts identifies and addresses any potential security vulnerabilities.

  2. Integration with Messaging Apps: MobileCoin is designed to be integrated into popular messaging apps like WhatsApp, Telegram, Facebook Messenger, and Signal. Users can send and receive funds within these apps using a PIN code, ensuring confidentiality and ease of use.

  3. Recovery Mechanism: Users can recover their keys with a recovery PIN, ensuring that they do not lose access to their funds.

Overall, MobileCoin aims to provide users with a fast, efficient, and private way to make mobile payments without compromising their financial privacy.

How do I store MobileCoin?

To store MobileCoin (MOB) tokens, you can use a variety of methods:

  1. Ledger Wallet: Open the MobileCoin Wallet, set a password, and agree to the terms of use. This provides a secure and reliable way to store your MOB tokens.

  2. Metamask Wallet: This wallet supports millions of assets and blockchains, making it a versatile option for storing and trading your MobileCoin tokens.

  3. Other Wallets: You can also use other wallets specifically designed for MobileCoin, which offer end-to-end encryption and fast transactions.

  1. Exchange Wallets: Many exchanges, such as Bitrue, allow you to store your MOB tokens directly in your exchange account. This can be convenient for trading and managing your assets.

  2. Personal Cryptocurrency Wallet: You can transfer your MOB tokens to your personal wallet for additional security and control over your assets.

These options provide flexibility and security for managing your MobileCoin tokens.

How to buy MobileCoin?

To buy MobileCoin (MOB) tokens, follow these steps:

  1. Create an Account:

    • Choose a reliable cryptocurrency exchange that supports MobileCoin (MOB), such as BigONE, Gate.io, or CoinEx.
    • Register for a free account on the exchange's website or mobile app.
    • Provide necessary information, including your email address and a secure password.
    • Complete any required identity verification steps.
  2. Choose a Funding Method:

    • Select a payment method that suits you, such as:
      • Credit Card or Debit Card
      • Bank Deposit (SWIFT)
      • Peer-to-Peer (P2P) Trading
      • Third-Party Payment Channels.
  3. Buy MobileCoin (MOB):

  • Navigate to the Buy & Sell section on the exchange platform.
  • Choose MobileCoin (MOB) as the cryptocurrency you want to buy.
  • Select your preferred order type (Market or Limit) and set the amount you want to purchase.
  1. Transfer MOB to Your Wallet:
    • Once you've purchased your MobileCoin (MOB), you can either hold it in your exchange account or transfer it to a personal cryptocurrency wallet, such as MetaMask, for additional security and trading options.

Remember to research the exchange's reputation, fees, and security features before making a purchase.

Discover
MobileCoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of MobileCoin

MobileCoin (MOB) is a decentralized payment platform that was established in 2017 by MobileCoin Inc. The project aimed to provide fast, private, and easy-to-use cryptocurrency transactions, particularly for users who are not equipped to maintain secret keys over a long period of time. The platform was designed to be integrated into messaging apps like WhatsApp, Telegram, Facebook Messenger, and Signal, allowing users to send and receive funds securely and privately.

MobileCoin went live in December 2020, after a long development period. The MOB token was created with a maximum supply of 250 million tokens, which were pre-mined. The project uses the Stellar Consensus Protocol and applies advanced cryptography, including ring signatures, to ensure the privacy and security of transactions.

MobileCoin is open-source, allowing users to verify the programming techniques. It is also designed to be user-friendly and environmentally friendly, claiming to be one of the first negative carbon cryptocurrencies in its niche.

In April 2021, Signal announced the integration of MOB into its platform, which led to a significant increase in the token's price. The project has received support from Binance Labs, which was an early investor in MobileCoin and led the crowdfunding round for the coin.

Overall, MobileCoin is a privacy-focused cryptocurrency designed to facilitate fast and secure mobile payments, with a strong emphasis on user privacy and environmental sustainability.

Discover
MobileCoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How MobileCoin works

MobileCoin (MOB) is a privacy-centric cryptocurrency designed for secure, quick, and mobile-friendly transactions. Here's an overview of how it works:

Blockchain and Consensus

MobileCoin is built on a decentralized blockchain technology, utilizing a consensus protocol originally developed for the Stellar payment network. This allows for fast and secure transactions without the need for intermediaries like banks or governments.

Privacy Features

MobileCoin employs advanced cryptographic techniques to ensure the privacy and security of transactions. It uses ring confidential transactions (Ring CT), which conceal the amount of transactions, making them confidential and untraceable to individual users. Additionally, it incorporates zero-knowledge proofs to hide transaction details, ensuring that only the sender and recipient have access to the information.

Key Management

MobileCoin is designed to be user-friendly, particularly for mobile devices. It allows for easy key management, making it accessible for users who may not have the technical expertise to manage complex cryptographic keys.

Transaction Speed and Fees

MobileCoin aims to offer fast transaction speeds and low fees, making it suitable for micropayments and everyday transactions.

Integration and Availability

MobileCoin can be integrated into mobile messaging applications like Signal, allowing users to make peer-to-peer payments directly within the app. It is currently listed on a few exchanges, including Bitfinex, FTX, BigONE, and Hotbit, although it is not yet available on Binance.

Token Supply and Development

The MOB token has a maximum supply of 250 million tokens, which were pre-mined. The development team consists of around 50 engineers, and the project is actively maintained with open-source code available on GitHub.

In summary, MobileCoin is a privacy-focused cryptocurrency designed for fast, secure, and mobile-friendly transactions. Its advanced cryptographic techniques, user-friendly key management, and low fees make it an attractive option for those seeking a private and efficient way to make mobile payments.

Discover
MobileCoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

MobileCoin's strengths

MobileCoin (MOB) is a privacy-centric cryptocurrency designed for secure and quick mobile transactions. It offers several strengths that set it apart from other cryptocurrencies:

  1. Privacy Protection: MobileCoin provides strong privacy protection through advanced encryption, making it difficult for governments and corporations to collect financial data. It also includes strong side channel protection, which safeguards against privacy compromises through data access patterns.

  2. Fast Transactions: MobileCoin transactions are extremely fast, typically taking only a few seconds to reach finality, compared to tens of minutes in proof-of-work cryptocurrencies.

  3. Ease of Use: The platform prioritizes ease of use, allowing users to send coins as easily as sending a text message. It also supports noncustodial wallets and offers a recovery system using a PIN code, making it user-friendly.

  1. Environmental Friendliness: MobileCoin claims to be one of the first negative carbon cryptocurrencies, focusing on environmental sustainability.

  2. Integration with Messaging Apps: MobileCoin is designed to be integrated into popular messaging apps like WhatsApp, Telegram, Facebook Messenger, and Signal, making it easily accessible to a wide user base.

  3. Open-Source: The project is open-source, allowing users to verify the programming techniques and ensuring transparency.

These strengths make MobileCoin an attractive option for those seeking a secure, fast, and environmentally friendly cryptocurrency with a focus on user experience.

MobileCoin's risks

MobileCoin (MOB) faces several financial risks, primarily due to its focus on privacy and anonymity. Key concerns include:

  1. Money Laundering and Illicit Activities: The untraceable nature of MobileCoin transactions raises concerns about its potential use for money laundering, terrorist financing, and other criminal activities. This could lead to increased regulatory scrutiny and legal challenges.

  2. Market Manipulation: The brief surge in MobileCoin's value in early 2021, followed by a sharp decline, demonstrates the risk of market manipulation. This can result in significant financial losses for investors and undermine trust in the cryptocurrency.

  3. Illiquidity and Volatility: MobileCoin's relatively low liquidity and high volatility make it susceptible to price swings, which can be detrimental to investors. This volatility can also lead to significant losses if not managed properly.

  1. Regulatory Crackdown: The increased scrutiny from regulatory bodies, such as the Securities and Exchange Commission (SEC), could lead to stricter regulations or even bans on MobileCoin. This could negatively impact its value and adoption.

  2. Security Risks: As with any cryptocurrency, MobileCoin is vulnerable to security breaches and hacking. If its advanced encryption is compromised, users' financial data could be exposed, leading to financial losses and reputational damage.

  3. Competition from Other Cryptocurrencies: The cryptocurrency market is highly competitive, and MobileCoin faces challenges from other privacy-focused coins like Monero and Zcash. If it fails to differentiate itself or provide unique benefits, it may struggle to attract and retain users.

These financial risks highlight the importance of careful consideration and thorough research before investing in MobileCoin or any other cryptocurrency.

Discover
MobileCoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did MobileCoin raise funds?

Discover
MobileCoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

MobileCoin’s team

  • CEO: Joshua Goldbard, who has experience in managing and implementing complex networks and is passionate about cryptocurrency as an information network governing systems of value.
  • CTO: Sara Drakeley Hall, who brings technical expertise from her previous roles at Walt Disney Animation Studios and SpaceX.
  • Chief Architect: Matthew Faulker, a PhD computer scientist specializing in algorithms and systems for IoT devices.
  • VP of Engineering: Toby Segaran, who has over two decades of experience, including roles at Reddit and Google.

Whalee AI

The fundamental analysis assistant for crypto value investors.

MobileCoin NEWS REPORT

Latest news

Want an analysis of MobileCoin? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM