One of the easiest decentralized digital cash apps that you can use today is MobileCoin (MOB). MobileCoin guarantees fast and secure transactions for all users. Due to the usefulness and potential of MobileCoin, many crypto traders have started asking questions like “how to buy MobileCoin” and “where to buy MobileCoin token.”
If you want to buy MOB but don’t know where to start, you should read this article from start to finish. We will cover the basic steps of buying MOB, as well as some important topics about the token.
MobileCoin (MOB) Buying Guide
Step 1: Find An Exchange That Supports MOB
To start buying a MobileCoin crypto token, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support MOB.
Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.
- 500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.075%*-0.1%*
- Sign-up bonus: 10% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 300+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.020%*-0.070%*
- Sign-up bonus: 5% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 1000+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- Sign-up bonus : Up to $500 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification.
You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.
Step 2: Deposit Funds to Your Exchange Account
Before buying MOB, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.
Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.
Step 3: How to Buy MOB Officially?
Learning how to buy MOB is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the MRI ticker. You can also look directly for MOB trading pairs to save time. Afterwards, just enter the amount of the MOB tokens that you want to buy.
You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.
Everything You Have to Know About MobileCoin (MOB)
Mobile Coin is a decentralized privacy token designed to help users gain a fast, secured, and reliable way to transfer digital cash. Users can use the MOB token to pay for products and services in the Signal messaging app. In the future, it’s possible for MobileCoin to be used on other service platforms.
The MobileCoin platform guarantees fast transactions because it is powered by the Stellar blockchain. Instead of recording all blockchain transactions in a node, the Stellar protocol gathers the nearest block of information, effectively reducing processing time.
In terms of security, MobileCoin is better than most cryptocurrencies. MobileCoin uses Software Guard Extensions (SGX) to implement security and data privacy options in all operating nodes. SGX creates a secure enclave, ensuring that only nodes are allowed to handle transactions.
In every transaction, MobileCoin also generates a one-time key powered by CryptoNote. The key ensures that all transactions are immutable and fully encrypted.
How Does MOB Work?
MOB, the native token of the MobileCoin platform, can be used as payments for services. Users just need to purchase MOB tokens before initiating any transaction. MOB can also be used for regular trading and investment.
What Makes MobileCoin (MOB) Unique?
MobileCoin’s simplicity is the factor that makes the token unique. The purpose of a MOB token is to pay for a product or a service. Alternatively, the token can be transferred to another person. In other words, MOB is a reliable type of digital cash with additional security measures!
MobileCoin is decentralized, secured, and fast. It’s definitely better than fiat money because there’s no central controlling authority. Once you’ve purchased MOB tokens, they are now your assets. Plus, no one will ever take a look at your log of MobileCoin transactions.
Who Are the Founders of MobileCoin (MOB)?
The founder of MobileCoin is Joshua Goldbard – a serious cryptocurrency investor and financial trader. Goldbard is also a founding partner in a crypto hedge fund known as Crypto Lotus. Under Goldbard’s skills and leadership, MobileCoin gained strong early adoption in DeFi circles and crypto communities.
What Are the Use Cases of MobileCoin (MOB)?
MobileCoin’s use cases are related to fast and secure payment processing. Beginners can also get the MobileCoin wallet to jumpstart their crypto journey.
Here are the use cases of MOB:
- Speculative trading
- Long-term investment
- Payments for products and services (only on Signal app)
- Project-building tools for developers
Who Builds on MobileCoin (MOB)?
While MobileCoin is designed for users who are looking for easy-to-use digital cash, the app can also be a platform for developers. MobileCoin offers different tools to help developers build projects related to MOB payment processing, android app integration, and desktop wallet integration.
Official website: https://mobilecoin.com/
Essential Points of the MobileCoin (MOB) Whitepaper
The MobileCoin (MOB) Whitepaper highlighted the simple working mechanisms of the MobileCoin app. The paper also explained the lifecycle of a typical MobileCoin transaction.
These are the strong points of the MobileCoin (MOB) Whitepaper:
- Easy and efficient user experience
- SGX enclave security system
- CryptoNote integration
- Dynamic MobileCoin wallet
The Best Cryptocurrency Wallet for MOB
After knowing how to buy MOB, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.
You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.
On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.
What Factors Affect My Choice of Crypto Wallet for MOB?
At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.
Check out the important factors affecting your choice of MOB wallet:
- Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade MOB right away.
- Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
- When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
- Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
- Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.
Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors
Now that you already know how to buy MOB, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.
When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.
Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.
If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes.
General Market Overview for MobileCoin (MOB)
Do you want to learn more about MobileCoin (MOB) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!
Additionally, here are some important topics in our blog:
- Trading speculation about MobileCoin (MOB)
- The current market prices of cryptos
- Detailed price charts with comprehensive histories
- Whitepaper summaries of cryptos
- Founder profiles and their related works
- Up-to-date cryptocurrency news and developments