Wrapped Minima

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Discover Wrapped Minima'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 Wrapped Minima?

Wrapped Minima (WMINIMA) is an ERC-20 token on the Ethereum blockchain, created by Minima, a London-based project founded in 2018. It is a decentralized cryptocurrency that focuses on privacy, security, and versatility, offering users a robust and secure way to conduct transactions while maintaining a high level of anonymity. WMINIMA operates on a blockchain, ensuring the integrity of transactions through a network of nodes, and is designed to be scalable, inclusive, and resilient. It is tradable on exchanges, with a total supply of 125,000,000 coins, and is known for its fast and low-cost transactions, making it suitable for various use cases such as private financial transactions, cross-border remittances, e-commerce, investment, and trading.

How is Wrapped Minima used?

Wrapped Minima (WMINIMA) is a decentralized cryptocurrency that offers a range of use cases due to its focus on privacy, security, and versatility. Here are some key ways it can be utilized:

  1. Private Financial Transactions: WMINIMA provides an extra layer of privacy for individuals seeking to conduct financial transactions discreetly. This makes it suitable for purchasing goods and services or transferring funds to family abroad.

  2. Cross-Border Remittances: WMINIMA's fast and low-cost transactions make it an attractive option for cross-border remittances, allowing individuals to send funds to loved ones in different countries efficiently.

  3. E-Commerce: WMINIMA can be utilized as a payment method on e-commerce platforms, providing consumers with a convenient and secure way to make purchases.

  1. Investment and Trading: Cryptocurrency enthusiasts can use WMINIMA for investment and trading purposes, leveraging its decentralized nature and focus on security to diversify their portfolios in the digital asset space.

  2. Protecting Financial Data: WMINIMA's privacy features can also be leveraged by individuals and organizations looking to safeguard sensitive financial data from prying eyes, reducing the risk of data breaches and identity theft.

How do I store Wrapped Minima?

To store Wrapped Minima (WMINIMA) tokens, you can use a variety of crypto wallets that support the Ethereum blockchain. Here are the steps to follow:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports Ethereum, such as Coinbase Wallet, MetaMask, or TrustWallet. Ensure the wallet is compatible with your device and payment method.

  2. Set up Your Wallet: Create an account by providing personal information and a strong password. You will receive a secret recovery phrase or seed words, which are crucial for recovering your wallet in case of loss. Record these words accurately.

  3. Store Your Tokens: Once you have purchased Wrapped Minima tokens, you can store them in your chosen wallet. You can also use custodial wallets provided by cryptocurrency exchanges, which manage your private keys for you.

  1. Security Tips: For added security, consider using cold wallets, which are not connected to the internet, for long-term storage of large amounts of cryptocurrency. Always be cautious of scams and ensure you have the correct smart contract address when using decentralized exchanges.

By following these steps, you can securely store your Wrapped Minima tokens in a crypto wallet.

How to buy Wrapped Minima?

To buy Wrapped Minima (WMINIMA) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports Wrapped Minima. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Ensure the wallet is compatible with your preferred payment method and policies. For beginners, hot wallets are recommended for quick transactions, while cold wallets provide higher security for long-term storage.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which are crucial for wallet recovery. Record these carefully.

  3. Buy a Base Currency: Choose a cryptocurrency exchange platform and purchase a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade for Wrapped Minima.

  1. Transfer Funds to Your Wallet: Withdraw the base currency to your crypto wallet by providing your wallet address and the amount to transfer.

  2. Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet, such as Pancake Swap. Ensure the exchange has sufficient liquidity for the trading pair you want.

  3. Buy Wrapped Minima (WMINIMA): Connect your wallet to the DEX and select Wrapped Minima from the list. Enter the amount you want to trade, and complete the transaction.

  1. Store Your Tokens Securely: For long-term storage, consider using cold wallets like paper wallets or hardware wallets to ensure the security of your tokens.

Additionally, you can use platforms like Binance, Holder.io, or Switchere to buy Wrapped Minima. These platforms offer various payment options and user-friendly interfaces to facilitate the purchase process.

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History of Wrapped Minima

Wrapped Minima (WMINIMA) is a cryptocurrency that originated from the Minima project, founded in London in 2018. The project aimed to create an ultra-lean blockchain protocol that could run on mobile or IoT devices, allowing users to run constructing and validating nodes. This approach enabled the creation of a decentralized network that is scalable, inclusive, secure, and resilient.

In the Token Generation Event, 1,000,000,000 Native Minima (MINIMA) coins were minted. Of these, 12.5% (125,000,000 coins) were wrapped on the Ethereum blockchain as ERC-20 tokens, creating Wrapped Minima (WMINIMA) coins. This wrapping allowed Wrapped Minima to be traded on exchanges shortly after the event.

Wrapped Minima has been listed on various exchanges, including Kraken, where its price has ranged from $0.11 to $5.01. The current price of Wrapped Minima is around $0.099094, with a predicted rise to $0.33583 by July 19, 2024, according to CoinCodex. Historical data shows that Wrapped Minima has traded at prices such as $0.12 and $0.25.

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How Wrapped Minima works

Wrapped Minima (WMINIMA) is a decentralized cryptocurrency that operates on the Ethereum blockchain as an ERC-20 token. It is designed to bridge the compatibility gap between Minima and various DeFi projects or broader crypto markets that might not directly support Minima. Here's how it works:

Tokenization and Wrapping

Wrapped Minima is created by tokenizing the Minima cryptocurrency. This process involves wrapping the value of Minima into a new token, WMINIMA, which is pegged to the value of Minima on a 1:1 ratio. This wrapping mechanism allows WMINIMA to be traded on exchanges and integrated into DeFi projects that do not support Minima directly.

Smart Contract Governance

The operation of WMINIMA is governed by an underlying smart contract. This contract efficiently manages the creation and destruction of Wrapped tokens, ensuring that the same quantity of original Minima tokens is secured or released accordingly. This smart contract ensures the integrity and transparency of the tokenization process.

Decentralized Network

Wrapped Minima operates on a decentralized network, which means that no single entity has control over the currency. This promotes fairness, transparency, and immunity to central manipulation. The decentralized nature of WMINIMA also enables fast and low-cost transactions, making it suitable for cross-border remittances and e-commerce applications.

Security and Anonymity

Wrapped Minima employs advanced cryptographic techniques to ensure the privacy and security of transactions. Each transaction is verified by a network of nodes, enhancing the overall security of the platform. This focus on privacy and security makes WMINIMA attractive for individuals seeking discreet financial transactions and protecting sensitive financial data.

Interoperability

Wrapped Minima acts as a bridge between the value of Minima and other cryptocurrencies or tokens in the DeFi space. This interoperability facilitates the integration of Minima into various DeFi projects, expanding its reach in the broader crypto market.

Token Distribution

Wrapped Minima represents 12.5% of the total supply of Minima coins. The distribution of WMINIMA is outlined in the tokenomics of Minima, with different categories having specific release schedules. This ensures a controlled and transparent distribution of the token.

Trading and Investment

Wrapped Minima can be traded on exchanges and used for investment and trading purposes. Its decentralized nature and focus on security make it an attractive option for those looking to diversify their portfolios in the digital asset space.

Overall, Wrapped Minima (WMINIMA) is designed to provide a secure, private, and decentralized way to access the value of Minima, while also facilitating its integration into various DeFi projects and broader crypto markets.

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Wrapped Minima's strengths

Wrapped Minima (WMINIMA) is a decentralized cryptocurrency that offers several strengths:

  1. Privacy and Anonymity: WMINIMA employs advanced cryptographic techniques to ensure that transactions are shielded, maintaining user confidentiality and anonymity.

  2. Security: The platform leverages blockchain technology to ensure the integrity of transactions, which are verified by a network of nodes, enhancing overall security.

  3. Decentralization: WMINIMA operates on a decentralized network, promoting fairness, transparency, and immunity to central manipulation.

  1. Fast and Low-Cost Transactions: Transactions are processed swiftly, regardless of geographical location, with lower fees compared to traditional banking systems.

  2. Cross-Border Accessibility: WMINIMA enables users to send and receive funds across international borders without intermediaries, making it a borderless currency.

  3. Ultra-Compact Blockchain: Minima, the underlying blockchain, is designed to be compact and efficient, allowing it to run on mobile and IoT devices, making it accessible to a wide range of users.

These features make Wrapped Minima an attractive option for users seeking a secure, private, and decentralized cryptocurrency for various use cases, including private financial transactions, cross-border remittances, e-commerce, investment, and protecting financial data.

Wrapped Minima's risks

Wrapped Minima (WMINIMA) is a decentralized cryptocurrency that operates on a blockchain, focusing on privacy, security, and decentralization. While it offers several benefits, such as fast and low-cost transactions, cross-border accessibility, and robust security measures, it also carries financial risks.

One of the primary risks associated with Wrapped Minima is its high volatility. The cryptocurrency market is known for its fluctuations, and Wrapped Minima is no exception. Its price can rise or fall rapidly, resulting in significant losses for investors if they are not cautious. For instance, the current sentiment is bearish, indicating a potential downturn in the market.

Another risk is the speculative nature of investing in digital assets. Trading and investing in cryptocurrencies like Wrapped Minima are highly speculative and come with many risks, including the risk of losing some or all of your investment. This means that investors should be prepared for the possibility of significant losses if the market does not perform as expected.

Additionally, Wrapped Minima operates in a decentralized environment, which can make it vulnerable to security breaches and data theft. Although the platform employs advanced cryptographic techniques and a network of nodes to verify transactions, there is still a risk of data breaches and identity theft if the security measures are compromised.

Investors should also be aware of the risk of central manipulation, as Wrapped Minima operates on a decentralized network. While this decentralization promotes fairness and transparency, it also means that no single entity has control over the currency, which can lead to market instability.

Finally, investors should consider their risk tolerance and consult with an independent financial advisor before investing in Wrapped Minima. It is essential to understand the risks involved and make informed decisions based on your financial goals and risk appetite.

In summary, Wrapped Minima carries financial risks due to its volatility, speculative nature, security vulnerabilities, decentralization, and the need for careful risk assessment. Investors should be cautious and well-informed before investing in this cryptocurrency.

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Did Wrapped Minima raise funds?

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Wrapped Minima’s team

  • Hugo Feiler: CEO of Minima, with 20+ years of experience as a CEO and Managing Director in Marketing Communications for Tech, Automotive, and Telecoms.
  • SpartacusRex: Chief Architect of Minima, a former Bitcoin Maximalist who built Minima to solve the problem of distance between Bitcoin miners and users.
  • Richard Brown: Chief Business Officer of Minima, with 20+ years of expertise in commercial and leadership roles within cloud, IoT, and Telecom enterprise software.
  • Luke Edwards: Head of Communications at Minima, also a Royal Air Force (RAFAC) Flight Lieutenant, facilitating communication for the developer community.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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