Listing of MPay Token in Global Exchanges
After conducting a successful Initial Exchange Offering(IEO), MenaPay will be officially listing it’s MPay Token on global cryptocurrency exchanges as of 1st of June 2019.
MenaPay Payment Solutions
MenaPay replaces cash into digital and allows people to make payments using their digital wallets as well as cross-border transactions in the fastest way. The MenaPay platform is used in diverse places such as; restaurants, coffee shops, shopping malls, gas stations, vending machines, and online platforms.
On the other hand, MenaPay is solving the declining population of people using banking facilities due to non-Islamic finance capabilities by a 100% non-bank digital solution. Menapay achieves this by using the Blockchain technology to create a single currency that follows Islamic banking practices so that cross-border transactions are made more accessible. The single currency helps in the multiple fragmented currencies that are present throughout the African subcontinent and the Middle East.
Overview of MPay IEO
MenaPay started to conduct its IEO process on the 15th of March and ended on the 15th of May 2019. Unlike many other start-ups, they have chosen to conduct their IEO in various global cryptocurrency exchanges. The main purpose was to generate crowdfunding by using crypto assets. During a typical IEO, developers send their tokens to the exchanges and they sell them to its platform users at a fixed price. The goal of most tokens or coins after they launch a coin offering is to get listed different exchanges. Getting listed on an exchange brings credibility to a project as well as liquidity and may potentially increase the token’s value. Projects that choose to launch an IEO are curated and vouched by the exchanges. In general, if you believe that an exchange is trustworthy, there is a reason to believe that it will select projects that have some degree of trustworthiness or credibility.
MenaPay has generated higher sales than expected and will be listing it’s token by the 1st of June on global crypto exchanges.
Listing of MPay Tokens
As of 1st of June 2019; MenaPay will be listing the MPay token in the following exchanges:
Trading and bonuses
Exchanges will often use their tokens as a base market, pairing the exchange token with other cryptocurrencies the exchange lists. Users can trade back-and-forth just as they would any other cryptocurrency.
The trading function makes it easier for users to buy the exchange coin. You typically won’t find these in-house coins traded on other exchanges. Having exchange coin trading pairs lets users buy the coins with any cryptocurrencies they happen to own. Sophisticated traders can also exploit arbitrage scenarios to profit on the disconnects between the trading-pair prices.
Another financial benefit that some exchanges offer is the “bonus” they pay to customers who own the exchange coin.
Important Note
Most of the investors buy tokens purely to speculate whether the price will go up, therefore making a profit on their initial investment. You are allowed to do so, but you are absolutely not helping a project by immediately liquidating your tokens after they get listed or when you have a short-term profit. A project seeks investors willing to support the project in the long-term. Here are some of the reasons why you should hold your tokens after it is being listed:
- The token value is likely to increase in the future when the team has implemented its roadmap.
- Some projects don’t get the right attention from the beginning. It happened before that a qualitative project has remained silent and suddenly boomed when more people discovered it, having the price to skyrocket.
- Product usage: In the end, the token has been designed to power a product or service. A project with a working product or service and a functional token is worth way more as many people want to buy the token for using the product/service now.
- It is has been proven that you get better returns in the long-term. Some scientists claim you have almost 100% guarantee you will make a profit after holding your stocks over a period of 7 years. As we know, one month in crypto is equal to one year in stock trading. So holding your tokens at least 7 months should give you better returns.
- Patience and calmness are key to making a profit from IEO investments.
