Crypto & ReviewsMagic Internet Money is one of the fastest rising coin in the cryptocurrency market and has been on surge lately.
For those that lost out when Bitcoin, Ethereum, Dogecoin all had a quick run up, will want to learn more about the token and study the reviews. On this article, we will review Magic Internet Money by listing the pros and cons.
Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.
About Magic Internet Money
What is Magic Internet Money?
Magic Internet Money is a stablecoin soft-pegged to the US dollar and minted by the Abracadabra. Abracadabra uses interest-bearing crypto assets as collateral to mint MIM, which can be swapped for other stablecoins.
Magic Internet Money Supply
There are 1.93B MIM in supply.
Pros and Cons of Magic Internet Money
Pros of Magic Internet Money
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
Cons of Magic Internet Money
- The coin is still under research and developments
- Multiple issues with its synchronizations between ledgers
- Unavailability of project whitepaper
- Not listed on exchanges
- No Github profile
- They have no reddit acount
- No Bitcointalk thread created
- No traceable features on tradingview
Is Magic Internet Money Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Magic Internet Money have a very weak back up for the token they produce. Their public profiles are vague therefore making it difficult to determine their level of transparency.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Magic Internet Money on the comment section below. Don’t forget to rate and leave a review.
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