MonetaryUnit (MUE) is a decentralised open-source cryptocurrency forked from Quark in July 2014. The project’s main feature is a special 8-way random hashing algorithm which is designed to preserve the coin’s ability to be mined with standard home computers, rather than highly specialist ASIC systems.
The company wants to make cryptocurrencies such as MonetaryUnit Coin accessible to everyone without having to be particularly tech-savvy.
The currency should be attractive for developers, investors and the general public. It is an attempt to make accessible to all not just the developed world. Designed to stop the hardware arms race and a cease fire on market price manipulation. Environmentally responsible as does not rely on powerful computing. Truly decentralized as no big incentive for mining farms or mining pools as mining reward limited.
You can already pay with the currency in numerous shops. Monetary Unit Coins are traded on Bittrex, CoinExchange and Bittylicious.
MonetaryUnit Coin – The Cryptocurrency
MonetaryUnit Coin is structured according to the Master-Nodes-Model.
A business model in which the community owns the management and voting rights. The Master Nodes network also manages a pool of funds to finance the project over the long term.
10% of all newly created monetary unit coins are reinvested in the project. Future decisions will be voted on democratically.
MonetaryUnit users can send money to each other via the InstantSend feature.
Anyone who is concerned about data security here can also do this with the encrypted PrivateSend function. In addition, numerous shops accept the currency as a means of payment.
The currency is also becoming increasingly lucrative as a miner. Recently, the X11 code based on DASH was integrated.
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It addresses more miners and provides additional safety and a higher hash rate.
MonetaryUnit Coin – The Company
MonetaryUnit has been in existence since 2014, and the company’s vision is to make cryptocurrencies accessible to everyone and to say goodbye to the stigma of being accepted only by the technology industry.
The company addresses developers, investors and the public. It wants to innovate the world of cryptocurrencies and establish itself as the most trusting and exciting currency on the market.
The company’s growth rates since market entry show an upward trend. MonetaryUnit Coin wants to be the point of contact for those who want to say goodbye to classic corporate finance and unreliable cryptocurrencies.
With a helpful community and an open development team, MonetaryUnit builds a reliable network with the common goal of constantly improving the economic system.
The company supports long-term projects such as muex, muegs, coinbuy, webwallets, cashchat, GS points, cryptofeed, startmy and goldfinger lending offers.
For example,”muex” is a platform for Forex trading, web hosting, domain names and goods listed on Amazon.
A special feature is that it also accepts the cryptocurrency. To cite another example project, coinbuy is a platform for buying and selling different cryptocurrencies at peer-to-peer level in exchange for different Fiat currencies.
Some of these projects have already been completed, others are still being supervised and further developed. MonetaryUnit has also planned further projects for the future.
With a special business model, MonetaryUnit manages to organize itself completely decentralized and democratically.
The entire project is self-financed and runs itself from and for the community.
MonetaryUnit has created a cryptocurrency that is very forward-looking and has proven to be stable since market entry.
The currency has an inflation rate of just 3% per annum.
You can’t buy it directly for fiat on any exchange. You can choose the best coin exchange for your region and buy BTC there, then trade it for MUE on exchanges. Read here how you can quickly convert other coins to bitcoin and the other way around.
Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is trustworthy and has acceptable fees and it is a leading platform for buying BTC.
If Coinbase doesn’t support your country, use Cex.io – read how Cex.io works – it is a good Coinbase alternative. Coinmama is also safe exchange for buying cryptocurrencies – click here to visit Coinmama.
If your country is not available on Coinbase – check for best Coinbase alternatives (such as Cexio and Indacoin – see here Indacoin exchange review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is legit place to trade crypto), instantly and directly to bitcoin.
Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet (if it is supported) – our recommendation is just go and buy Ledger Nano S or Trezor Wallet or KeepKey, those are the safest options. You can read our articles on how to use Ledger Nano S wallet and where to buy it and Trezor Wallet Review or check out other top hardware bitcoin wallets here. You can also create a paper wallet – learn here more about crypto wallets. We have also compared top 3 hardware wallets: Ledger vs Trezor vs KeepKey.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com