Where to trade Minereum token?

By Potaball | Minereum | 12 Jun 2020


The staking feature of Minereum is around the corner (yes, I'll make a post in details when it launched or you can read more about it at Bitcointalk ANN thread). Hence, for those who are interested to participate, you need a source of Minereum. Currently, there are only 2 ways to get MInereum: mining and trading. In this typical article, we will review some exchanges either centralized or decentralized that we can buy Minereum tokens from.

 

There are 3 exchanges that listed Minereum:

1) CEX: Livecoin 

2) DEXs: Minereum DEX and Uniswap V1

 

Livecoin

Description

Livecoin is a modern, safe Trading Platform for accessing cryptocurrency exchange markets with very simple interface and low trading fees. Our own API is easy-to-use, supplied with an instructional manual. Our Support Service communicates in Russian, English and Chinese and replies to the Customers’ tickets 7 days a week within working hours (UTC+3).

This is their own introduction about themselves. Nevertheless, a lot of people found that the reviews of Livecoin.net by other review platforms (e.g: Trustpilot and fxempire) were really bad. A lot of people claimed that Livecoin is a scam exchange. The Livecoin company itself explained that they are under attacks as stated in their Bitcointalk post.

According to my personal experience with Livecoin exchange, I did not experience any issue regarding their service. I can deposit and withdraw just like usual. So, it seems like not a scam to me.

Back to the topic, let's talk about something related to MInereum. 

Pros

  • No need KYC
  • 3 Trading pairs: MNE/BTC MNE/ETH MNE/USDT
  • The biggest liquidity compare to the other 2 DEXs: 608,064.38902435 MNE in the exchange currently
  • 0 deposit fee, 77 MNE withdrawal fee and 0.18% trading fee (withdrawal fee will keep changing based on my experience) 

Cons

  • Bad reviews by Trustpilot (I'm not sure about is this a kind of attack which stated by the company)
  • Centralized

Opinion

It will be the best exchange among the 2 DEXs if you need to buy a large amount of Minereum tokens. As it will only charge a small percentage of the trading fee and a small amount of withdrawal fee. Of course, the premise is that you need to trust the company because it is centralized and certain people have complained about it.

 

 

Minereum DEX

Description

Minereum DEX is a DEX that launched by the Minereum team in April 2020 which was synchronous as the launch of Minereum V2 platform. Unlike other DEXs, Minereum DEX only allows users to trade Minereum token but not other ERC-20 tokens. Also, currently, users can only make sell orders but cannot do the opposite of it.

Pros

  • Decentralized
  • Anonymous
  • 0 deposit fee and 0 withdrawal fee 

Cons

  • Only 1 trading pair: MNE/ETH
  • No active buyers
  • Cannot make a buy order, but only sell order
  • High trading fee: 10% trading fee (apply to buyers only)

Opinion

It will be a good place to buy Minereum token ONLY IF there is/are seller(s) that offer a very cheap price.

 

 

Uniswap V1

Description

Designed with simplicity in mind, the Uniswap protocol provides an interface for seamless exchange of ERC20 tokens on Ethereum. By eliminating unnecessary forms of rent extraction and middlemen it allows faster, more efficient exchange. Where it makes tradeoffs, decentralization, censorship resistance, and security are prioritized.

Pros

  • Various of trading pairs (any ERC-20 tokens that have liquidity at Uniswap V1 can be traded with Minereum token)
  • Decentralized
  • Anonymous
  • 0 deposit fee, 0.3% trading fee and 0 withdrawal fee

Cons

  • Low liquidity: current pool only has 0.5384 ETH + 2479.8 MNE
  • The price will increase non-linearly as users try to buy more

Opinion

It will only be a good place to buy a small amount of Minereum token if the pool doesn't grow in the future.

 

 

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