Money IMT price is $0.00004686
The current price of Money IMT is $ 0.00004686, which has increased by +0.00% in the past 24 hours. Its market cap is sitting at $ 0.4M, ranking it at #2387 among all cryptocurrencies.
Money IMT is a cryptocurrency token that powers the MoneyToken platform. MoneyToken is a unique platform that allows users to receive fiat funds (or a stable currency) instantly, based on the current value of their cryptocurrency holdings. This process works as follows: 1) The user takes out a loan on the platform and deposits their crypto assets as collateral. 2) In return, they receive a loan amount in a stable currency. 3) Upon loan repayment, the user gets back their full collateral, irrespective of whether the collateral (i.e., their crypto asset) has increased in value.
The MoneyToken platform, along with the Money IMT cryptocurrency, was developed by a team of experts in the fields of FinTech, cryptology, AI, and IT. It is designed as a solution for users who don't want to sell their crypto but need immediate liquid funds.
Money IMT functions as the fuel for the MoneyToken platform. Users deposit any amount of a particular cryptocurrency to the MoneyToken platform and specify the amount of stable currency they wish to receive as a loan. The crypto assets provided are then taken as collateral.
Users receive the agreed amount in stable currency and can use it as they wish. Once they pay back the loan with interest, they get their collateral back irrespective of whether its value has significantly increased during the loan period. This allows the users to receive immediate liquid funds while still holding on to their crypto assets.
The technology powering Money IMT and the MoneyToken platform is based on the well-established principles of collateralized loans, albeit within a cryptocurrency setting. When a user borrows against their crypto assets, the platform uses smart contracts to lock away the crypto collateral and automatically calculates the interest and principal repayments.
The circulating supply of Money IMT is currently 9.6B. This token has a total supply limit of 19.3B, meaning no more tokens will be created once this limit is reached.
Money IMT can be purchased on any of the IDEX, Bitforex. After purchasing, it's crucial that you keep your crypto assets safe. Consider using a hardware cryptocurrency wallet for safety as they are designed to guard against hacks and theft.
Yes, the primary function of Money IMT is to help users get immediate liquid funds without needing to sell their crypto assets. By depositing your crypto asset as collateral on the MoneyToken platform, you can receive an instant loan in a stable currency, which you can then use for your immediate cash needs. Once you repay the loan, you get to reclaim your crypto asset.
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