US News pay by crypto: Signal tests MobileCoin Support

14:25  07 april  2021
14:25  07 april  2021 Source:   t3n.de

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Signal should in future support the crypto Motorcoin. A first test of the new payment function now starts in the UK.

Britische Nutzerinnen und Nutzer können direkt in Signal mit Mobilecoin bezahlen. © Signal British users can pay directly in signal with MobileCoin.

As part of a beta test, British users and users of the Signal App can now deposit their MobileCoin Wallet in the messaging app and perform payments to others directly in the chat. The crypto currency is comparatively new and is only regularly traded since December 2020. Signal boss Moxie Marlinspike has been working since the beginning of the crypto currency project as a paid consultant for MobileCoin. Accordingly, it is not really surprising that the messenger is now on the crypto feed.

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MobileCoin has various mechanisms to ensure the anonymity of users. The transaction height is also concealed to the outside. MobileCoin uses various techniques that are used in similar form in crypto currencies ZCash and Monero. When signal expanding the support for crypto feeding to other markets is currently unknown.

Signal: MobileCoin and the problem with volatility

Like other crypto currencies, the MobileCoin is currently still partially massive price fluctuations. The maximum value of the currency was more than $ 70 within the last 24 hours. Meanwhile, however, the value moves at around 57 dollars. Since the end of March 2021, the course rose by almost 600 percent.

also interesting: crypto currencies beyond Bitcoin: Litecoin, Monero, Ripple

The high volatility makes MobileCoin, as many other crypto currencies, therefore, for the time being a rather poor cash. Marlinspike, according to the US Publication Wired , therefore thinks about the money in US dollars or another stable currency to comply with the actual transaction in MobileCoin. But then transactions were likely to understand again, which forces the actual privacy concept of MobileCoin.

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