MXC

Overview of MXC

MXC, also known as MXC Token, is a utility token used on the MXProtocol. It is a type of cryptocurrency that was established in 2018, founded by Wo-Tzu Chen and Aaron Wagener. This digital asset can be traded on a variety of exchanges, including MXC Exchange, Huobi Global, Oceanex, among others. When it comes to storage, MXC can be stored in multiple wallets like Ledger, Trezor, and MyEtherWallet. To obtain more information, you can visit their website: https://www.mxc.org/ and try to log in or register to use more services.

Pros and Cons

Pros of MXC Token:

1. Supported by Multiple Exchanges: MXC Token is listed on several cryptocurrency exchanges, including MXC Exchange, Huobi Global, Oceanex, and others. This broad support offers users greater accessibility and flexibility when purchasing, selling, or exchanging the token.

2. Ease of Storage in Various Wallets: The MXC Token can be stored in a variety of wallet types, including hardware wallets such as Ledger and Trezor, as well as online wallets such as MyEtherWallet. This makes it convenient for users with different storage preferences.

3. Founded by Experienced Individuals: The MXC Token was established by Wo-Tzu Chen and Aaron Wagener, individuals with demonstrable experience in the cryptocurrency industry. This can lead to better strategic decisions and innovations for the token.

Cons of MXC Token:

1. Not as Widely Recognized as Some Tokens: MXC Token, while supported by a number of exchanges, might not be as recognized or widely used as other, larger cryptocurrencies. This limits its growth potential and acceptance as a payment method.

2. Market Volatility: Like all cryptocurrencies, MXC Token is subject to market volatility. This means the value of the token can increase or decrease rapidly in a very short time, posing a risk for investors.

Crypto Wallet

The AXS App is a new decentralized application (dApp) introduced by the MXC Foundation, aiming to provide users with advanced tools and features for managing their cryptocurrency assets. The app leverages Web3 technology to offer users greater control over their digital assets, emphasizing decentralization and security.

Key features of the AXS App include self-custody, which allows users to have full ownership and control over their assets without relying on third-party custodians. The app also offers secure storage options and backup solutions to ensure the safety of users' assets.

With multi-chain support for various blockchain networks, including MXC Wansee Testnet, MXC zkEVM Mainnet, Ethereum, and Arbitrum, the AXS App aims to provide users with a seamless experience across different chains.

What Makes MXC Unique？

MXC has established itself in the cryptocurrency market with a distinct feature known as “Machine eXchange Coin.” This aims at standardizing and simplifying the data transactions between different IoT (Internet of Things) devices, a realm that many other cryptocurrencies have yet to explore.

What distinguishes MXC from some other cryptocurrencies is its focus on facilitating machine-to-machine interactions. Harnessing the power of blockchain, MXC strives to empower devices with the ability to communicate and transact data between each other in a secure and decentralized manner.

Further, it's taken a key interest in creating a global data network using LPWAN (Low Power, Wide Area Network) technology, which is a unique approach in the cryptocurrency space. However, like all crypto projects, MXC faces its share of challenges, including general market volatility and competition with other IoT-focused blockchain projects.

How Does MXC Work？

MXC operates on the principle of uniting various Internet of Things (IoT) devices onto a common data exchange platform, facilitated by the MXC cryptocurrency. The underlying technology is a blockchain-based protocol known as the “Machine eXchange Protocol” (MXP), which standardizes and simplifies the data transactions between IoT devices.

The working mode of MXC involves two primary components - data transactions and low-power, wide-area network technology (LPWAN). In data transactions, IoT devices can buy or sell data to each other using MXC tokens. For instance, an IoT device in one location can sell the data it collects to another device in a different location.

LPWAN plays a crucial role as it supports long-range communication with low power consumption. MXC has established a global LPWAN called “MXProtocol,” aiming to create a highly efficient, globally-reaching network for IoT devices.

Market & Price

The circulating supply of MXC is currently 2.64 billion tokens. This means that these are the tokens that are currently available to buy and sell on exchanges. The total supply of MXC is 10 billion tokens, but the remaining tokens are not yet in circulation.

As of February 17, 2024, MXC's price is $0.008563 USD. It reached its all-time high price of $0.13 in August 2021, demonstrating its potential for significant price movements.

In the short term, MXC's price has been subject to daily ups and downs. MXC has seen a 3.88% decrease in its price over the past 24 hours.

Over the past year, MXC has been on a downward trend, experiencing a decline of approximately 67% from its price in February 2023.

Exchanges to Buy MXC

Multiple exchanges currently support the buying of MXC, each offering diverse trading pairs. Please note that the trading pairs might be updated or changed by the exchanges.

1. Gate.io: On this exchange, users can trade MXC with USDT. See this link for details on how to buy MXC: https://www.gate.io/how-to-buy/mxc-mxc.

Step 1 - Create an Account on Gate.io

Create an account with Gate.io, or login to your existing Gate.io account.

Step 2 - Complete KYC & Security Verification

Ensure that you have completed KYC and security verification.

Step 3 - Choose your preferred method to buy MXC

You can choose from Spot Trading, Convert and Bank Transfer. And then you can buy MXC at the market price or preset a buy price that you desire for the most popular MXC currency pair, MXC/USDT.

Step 4 - Purchase successful

Your MXC is in your wallet now. If you haven't received your crypto, you may visit the Help Centre or ask reach out to the customer service team by live chat.

2. KuCoin: Supports multiple trading pairs like MXC/USDT and MXC/BTC. See this link for details on how to buy MXC: https://www.kucoin.com/how-to-buy/mxctoken.

Step 1: Create Your Free KuCoin Account

Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

Step 2: Secure Your Account

Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

Step 3: Verify Your Account

Verify your identity by entering your personal information and uploading a valid Photo ID.

Step 4: Add a Payment Method

Add a credit/debit card or bank account after verifying your KuCoin account.

Step 5: Buy MXC

Use a variety of payment options to buy MXCToken on KuCoin.

3. OceanEx: Supports the MXC/VET trading pair.

4. MXC Exchange: Offers a variety of trading pairs including MXC/USDT and MXC/ETH.

5. Binance DEX: This decentralized exchange supports MXC/BNB trading pair.

6. Bittrex: Supports the MXC/USDT and MXC/BTC trading pairs.

7. Poloniex: Trades MXC in two market pairs which are MXC/USDT and MXC/BTC.

8. Bitrue: Offers MXC trading pair like MXC/XRP.

9. CoinEx: On this exchange, users can trade MXC with Tether (USDT).

10. Huobi Global: This exchange supports MXC in various trading pairs including MXC/BTC, MXC/ETH, and MXC/USDT.

How to Store MXC？

MXC tokens can be stored in various types of wallets that support the ERC-20 standard, given that MXC Token is built on the Ethereum blockchain.

1. Hardware Wallets: These are physical devices that are designed to securely store users' private keys offline. By keeping the keys offline, hardware wallets are resistant to online threats such as viruses and hackers. Examples of hardware wallets compatible with MXC tokens include Ledger and Trezor.

2. Online/Web Wallets: Online wallets are very convenient as they can be accessed from any device with an internet connection. However, they are typically not as secure as hardware wallets, given they are continually connected to the internet. MyEtherWallet is a popular web-based wallet that supports MXC tokens.

3. Mobile Wallets: Mobile wallets are applications installed on a smartphone. They offer convenience as they allow the user to access and manage their tokens anytime and anywhere. Examples include Trust Wallet and Coinomi, both of which support MXC tokens.

Is It Safe？

MXC places a strong emphasis on security and user control. One of its flagship offerings, the AXS App, is designed to empower users to invest safely in the cryptocurrency space. The app provides a range of features that enhance security, such as self-custody, which gives users full control over their assets without relying on third parties. Additionally, the app offers secure storage options and backup solutions, ensuring that users' assets are protected from unauthorized access and potential loss. The inclusion of biometric access adds an extra layer of security, further safeguarding users' assets.

How to Earn MXC Coins？

There are several ways to earn MXC coins.

Mining: MXC coins can be mined using computational power to solve complex mathematical problems on the network. Miners are rewarded with MXC coins for their contributions to securing the network.

Staking: Staking involves holding MXC coins in a wallet to support the network's operations. In return, stakers receive rewards in the form of additional MXC coins.

Participating in Airdrops: Some projects distribute MXC coins for free to users who meet certain criteria, such as holding a specific cryptocurrency or participating in community activities.

Trading: Buying and selling MXC coins on cryptocurrency exchanges can also be a way to earn profits, although it involves risks due to price volatility.

Conclusion

MXC Token is a cryptocurrency focused on facilitating transactions between Internet of Things (IoT) devices, seting itself apart in the crowded digital currencies market with its unique approach towards harnessing blockchain technology for device-to-device interactions and data exchange.

The token's development prospects align with the increasing integration of IoT devices in various industries, and the growing need for efficient, secure, and easy-to-use platforms for device intercommunication. MXC's vision of creating a global data network using Low Power Wide Area Network (LPWAN) technology demonstrates its innovative approach.

FAQs

Q: Where can I trade MXC？

A: MXC Token can be traded on numerous exchanges including MXC Exchange, Huobi Global, and Oceanex, among others.

Q: How can I store MXC？

A: MXC Tokens can be stored in a variety of digital wallets including Ledger, Trezor, and MyEtherWallet.

Q: How can I earn MXC coins？

A: You can earn MXC coins through mining, staking, participating in airdrops, and trading on cryptocurrency exchanges.

Q: How many MXC tokens are in circulation？

A: The circulating supply of MXC is currently 2.64 billion tokens, out of a total supply of 10 billion tokens.

Q: What is the current price of MXC？

A: As of February 17, 2024, the price of MXC is $0.008563 USD.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.