Ana Sullivan

Mixin (XIN Token) in 2018 - What Is It and Will It Rise?

by Ana Sullivan May 25, 2018

The Mixin token is a part of the Mixin project and it's goal is to ensure that its platform creates a messenger which also enables the transfer of cryptocurrencies of all types with an end-to-end encryption as a security, while offering the easiest way for anyone to enter blockchain. But following many accusations and the Mixin platform being mistaken with another Nix token (Infinity Economics), that often has bene regarded as a scam, many do believe that this token does not have the opportunity to grow further and may only be a shan.

 

Mixin (XIN Token) – Recent Performance

 

The XIN token first went live back in the 9th of January, 2018 and the token has started out at it’s all time high of 2 320 and it’s 24h volume was 2 800 110 USD. Since then it has not reached that much of an interest even though during april the token’s price rose sharply from the sub-300 USD level to the sub 1,500 USD level and has been declining since, until the last 24hours, where the price has seen a 15,51% price increase to $882,38 in a $1 423 100 USD volume for the last day. While this is a sharp rise in price, do not count on it to be a breakout of the general downtrend that has been happening to XIN tokens during the last month and in order for an uptrend to be formed, it does need to rise further to $1000 plus.

 

 

Mixin Token – What Is It and How Does It Work

 

Mixin is basically a projec that aims to create a messenger which can be used to transfer all types of crypto safely, using end-to-end security. This is a very easy way to do that and you can transfer to anyone by simply using their phone number. This idea is even easier than PayPal – the business at which Mixin has likely set their sights at.

 

In order to reach it’s goal, Mixin aims to enable easy access to all the services and decentralized application access in the crypto space. Furthermore, they promise to enable a strong end-to-end encryption, using the Signal protocol. And to increase trust in clients, they also provide an open access point interface which gives the ability to anyone to develop new features for clients. The mixin app and the protocol code of the app are also both available as an open-source code, which is good, since there is a strong community, strong development and bug fixing is inevitable.

 

The bad news here is while Mixin is still in it’s token distribution phase, it is a very risky buy. The reasons for this are many and one risky part is that they have not yet developed and published their whitepaper, but instead they only say that they have a draft of it. While this is great and we can see it, it is important to understand that their project cannot be considered a good buy until a final version is shaped up, because a draft is not somehting serious investors and contributors can rely on. But when we set this aside, the ideas in the draft and the motivation of the team is good, suggesting that the project may be very successful in the future, based on the experience and the initial ideas the team has. They do have a lot of competitors in the “messenger” sphere however and they have a lot of challenges to cope with in order to succeed in this evergrowing, competitive and fierce market.

 

 

 

 

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