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How to buy MimbleWimbleCoin (MWC) in South Africa
A beginner's guide to buying and selling MWC in South Africa.
How to buy MimbleWimbleCoin
Look for an exchange that supports both fiat and cryptocurrency to simplify buying MimbleWimbleCoin.
- Open an account on an exchange that supports MWC.
Unfortunately, at this time no major exchanges in South Africa offer MWC, but you may be able to purchase it with another cryptocurrency. Just be sure to follow all legal restrictions and requirements.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy MimbleWimbleCoin.
- Buy MimbleWimbleCoin.
Complete your MimbleWimbleCoin purchase and then find the best wallet to store MWC.
What is MimbleWimbleCoin?
MimbleWimble is a blockchain protocol that seeks to help mask the identity of its transactions completely via the use of a novel security framework that is distinctly unique when compared to that of Bitcoin (as well as most other traditional cryptos). In fact, the platform does not feature any transaction addresses, as a result of which all incoming/outgoing data remains fully confidential. MWC is the native cryptocurrency of the MimbleWimble ecosystem and is used to govern the protocol’s base layer.
MimbleWimbleCoin (MWC) is in the top 1,000 cryptocurrencies in the world by market cap. The current price of MimbleWimbleCoin is $3.7, which is -4.185% lower than yesterday. Prices have ranged between $3.89 and $3.59 over the past 24 hours. All prices are listed in US dollars and accurate as of October 24, 2021 07:10 UTC.
Where to buy MimbleWimbleCoin
Unfortunately, at this time no major exchanges in South Africa offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
MimbleWimbleCoin at a glance
|Total MWC supply||20,000,000|
|All time high||US$34.91|
MimbleWimbleCoin price performance over time
How to sell MimbleWimbleCoin
You can cash out your MWC with the same exchange you bought it through:
- Sign in to the exchange you have MWC on.
If you store your MimbleWimbleCoin in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of MWC you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of MimbleWimbleCoin.
What to consider when buying MimbleWimbleCoinSome key aspects related to MimbleWimble that investors should consider include:
- Sophisticated design: According to Binance Academy, the platform makes use of the controversial ‘CoinJoin module’ that makes transactions anonymous by clubbing a number of payments into one data set before relaying them back into the network. The system was devised by Blockstream’s Gregory Maxwell and is considered to be one of the most secure means of transferring confidential data in the world today.
- Compact ledger size: Unlike a number of larger platforms like Bitcoin and Ethereum, MimbleWimble makes use of a technology referred to as “cut-through” which allows the platform to condense all of its in/out transactions into smaller blocks, thus allowing faster throughput rates.
- Ease of use: MimbleWimble offers an extremely high level of transactional ease by allowing its users to exchange/utilize pretty much any crypto in existence today.
- Scalability: Owing to the fact that MimbleWimble’s native block size is much smaller than that of Bitcoin, as well as many other major crypto ecosystems, the platform is able to scale up/down as and when required.
MimbleWimbleCoin (MWC) in news
As Altair upgrade nears, looking into Ethereum outperforming Bitcoin ‘at some point’
An African Blockchain Enthusiast Launches Expedition That Seeks to Highlight East Africa’s Potential
Blockstream CEO Adam Back Goes Against Meme Coins: A Low Res Gif of a Rock Has No Merit
Disclaimer: Cryptocurrencies, including MimbleWimbleCoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MWC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the MimbleWimbleCoin or any other cryptocurrency discussed.
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