How to buy Mochimo (MCM) In Minutes
We get many visitors on Discord that arrive curious about the prospects for quantum proof crypto. A broader awareness of the threat of quantum computers to traditional encryption is penetrating the cryptosphere and people are starting to seek out solutions. Ultimately, after some research and reading up on the background of Mochimo, many of them want to know how they can be a part of our project.
Currently MCM is an early stage project and not listed on large exchanges, but there are a couple of good ways for early adopters to buy. This guide goes over the step by step process for beginners to buy MCM quickly and securely.
If you are already advanced in Crypto the TLDR is to use the Korean exchange Citex.
Step 1 Buy Bitcoin Or Tether:
If you don’t have Bitcoin (BTC) or Tether (USDT), the first step is to get some.
For US customers Cashapp, Coinbase, and others are available for converting fiat (dollars) to crypto. If you are a beginner and buying under 10,000$ worth I recommend using Cashapp. Coinbase is better for buying larger amounts, but requires more time to setup. If you use the code CLDLXSZ when signing up you will receive 5$ of free bitcoin to help you get started. For demonstration this is what it looks like on Cashapp to buy $10 worth of Bitcoin.
Step 2 Trade Bitcoin for Mochimo:
Once you have your Bitcoin, use a computer to open an account on Citex.
Citex is currently the cheapest and most popular exchange for Mochimo. Once you have an account you need to deposit your BTC or USDT in the account.
That QR code/address right there is where you want to send your Bitcoin from Cashapp. Using the send tab, type in the total amount you want to deposit and click the button in the top right to scan the QR code.
After you hit send you will have to wait for the Bitcoin network to confirm your transaction. This usually takes about 10 minutes. Once the Bitcoin is displayed on your assets tab click the trade button to access the exchange menu.
On the exchange screen use the search box in the top right to find the MCM/BTC pairing.
Lastly you want to pull the slider to 100% and click buy MCM.
The MCM/BTC pairing screen has some key information for trading MCM. Start at the Order book column. The red entries are the top are offers to sell MCM with the lowest price at the bottom of the red list. The green entries at the bottom of the column are limit order offers to buy MCM with the highest offers at the top. The price in the middle between the two fluctuates between the lowest sell price and the highest buy price. To place an order there are a couple of options.
Limit Order — Pulling the slider to 100% will create a buy order for the maximum amount of MCM at the default price. Click buy MCM and your order will show up in the order book column. Then it is a matter of waiting until a seller accepts your offer and fills the order.
Another limit order option is to manually select a price in the range between the low sell and the high buy and place an order. Since the range between buy and sell is often pretty large, you can get more MCM if you place an order at a lower price, but sellers may be unwilling to fill the order. That is the nature of trading.
A third option is to buy at Market Prices. In that scenario, you commit to buy as many MCM from the bottom of the sell order book as you have BTC available. You will pay more and get lass for a Market Price order, but you are guaranteed to have it filled immediately which is sometimes desirable.
Step 3 Safe Storage:
Once your order fills, best practice is to transfer your coins off the exchange and into your own private wallet. Start by downloading the .jar file for the Mojo wallet from the link below.
Note: .jar is a java file and you may need to install Java by going here:
https://www.java.com/en/download/manual.jsp
Once java is installed, open the .jar file. Next click create new account. Call your wallet whatever you want and enter and confirm your password in the top section. Write down the 24 word seed phrase and the password and secure them properly. The seed phrase can be used to restore the wallet even if you forget the password. Save the wallet file to a safe location and create a backup of the file and store it in a different location (ex: USB Stick). You don’t want to end up like this.
Next click the new tab inside Mojo to create an address tag to receive MCM. The “Name” is the label the wallet will give to your account. The “Tag” is the address that you can use to receive MCM. You can use any 24 characters ranged 0–9 and a-f to create your tag, or just use a randomly generated one. Once all your details are in click “Activate”.
Once your tag is displayed as successfully activated on the “Accounts” tab of Mojo, go to Citex to withdraw your MCM. Back on the assets page you can enter your tag and click withdraw all.
Then in a few minutes your coins will arrive in the Mojo wallet and you are all set. If you have any questions join the Mochimo discord chat bellow.
About Mochimo
Mochimo is the worlds first quantum resistant blockchain transaction network. Using WOTS+ encryption technology recommended by the EU’s PQ-CRYPTO and the IETF. Other Cryptos use ECDSA which 80% of cybersecurity experts believe will be broken “without warning” in the next 2–3 years.
Mochimo permanently solves network scalability issues. Our blocks stay small while substantially increasing TX speed using our ChainCrunch™ algorithm. This allows anyone to setup a node in minutes and mine on commonly available hardware. Transactions cost almost nothing and are validated in a completely decentralized and trustless way.
