Mobi Wallet, a cryptocurrency wallet, announced yesterday that they will be offering support for Monero [XMR] from now on. The coin will be joining another 15 new cryptocurrencies on the app.
The wallet currently offers support for 20 cryptocurrencies including Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH] and Litecoin [LTC], [PPT], WaltonChain [WTC], Loopring [LRC], Golem [GNT] and Basic Attention Token [BAT].
These coins and tokens can be traded against 150 different fiat currencies like the US Dollar, Japanese Yen, Euro, and Sterling Pound. Mobi posted in their official blog about the newest addition:
“We’re extremely pleased to be following up the recent addition of 15 different cryptocurrencies to Mobi wallet, by adding one more, Monero (XMR). Monero was a clear favorite to be integrated to Mobi. Consistently one of the top liquid assets on coinmarketcap, our customers can now access, send and receive Monero alongside their other assets without ever leaving the app.”
The wallet does not charge any fees for Bitcoin deposits which surpass 0.05 Bitcoin, requiring a 0.000075 BTC fee per transaction for non-SegWit users and 0.000045 BTC for those that use SegWit.
While transactions between Mobi wallet users require no costs, on-chain transactions are a different matter. Mobi prides itself on having the “best rates on this planet”, obtaining price data from a “comprehensive base of commercial sources”.
Monero has recently added by a lot of wallet service providers, as its newest update integrated full support for Ledger wallet. The support for Ledger was incorporated in Monero’s GUI version 0.12.3.0.
Monero is known and used in the cryptocurrency world mostly for its privacy features. Transacting with this coin does not enable other to track personal information of the transacting parties. This is mostly because of its RingCT or Ring Confidential Transactions.
Moneropedi explains that RingCT is an enhanced version of ring signatures called a “Multi-layered Linkable Spontaneous Anonymous Group signature”. This hides the sums, origins, and destinations of transactions made with the coin.
