MinexBank is an algorithm for controlling the volatility of Minexcoin price. Due to this algorithm, the price of Minexcoin is stabilized by reducing or increasing interest rates and interventions on the market. Thanks to this mechanism, everyone can get Minexcoin for free as an interest for their own balance assets in MNX, without transferring funds to anyone.
Parking is a confirmation of the intention of Minexcoin holder not to bring the coins from the wallet to the market within the specified period of time. This intention is confirmed by the Minexcoin owner by creating an application in the MinexBank algorithm.
To stabilize the price of Minexcoin, the MinexBank algorithm increases or reduces interest rates for parking operations depending on the supply and demand on the market.
MinexBank makes payments on parking operations at the expense of its own reserves.Reserves are formed due to fixed percentage of deductions made by miners in favor of MinexBank for each successfully solved block of Minexcoin.
The objective of MinexBank is to regulate volatility of Minexcoin on the market in order to create the prerequisites for the development of Minexcoin as a global mean of payment and reserve currency on the blockchain technology.
MinexBank has a number of advantages that makes its solutions innovative for the fintech industry of the XXI century.
Unlike traditional banks, in MinexBank you do not need to transfer your funds to anyone in order to receive interest on open deposits. All you need is to “freeze” funds on your own wallet without fear of losing funds as the result of unauthorized access to the centralized traditional bank.
MinexBank doesn’t collect and store your personal data. In order to use the bank functions, you just need to specify you Minexcoin wallet address.
Thanks to the blockchain technology, you can monitor all transactions of the bank in real time operation.
Access to MinexBank is protected by the two-factor authorization and fingerprint verification system (for mobile devices that support such function).
Your MinexBank is always with you in the mobile application for Android. Its intuitive interface will allow you to master new application in the shortest time possible.
Our support service will answer all your questions in real time. All MinexBank users can reckon on the support service 24 hours a day, 7 days a week.
Below you can find the existing interest parkings rates. During the day, the rates may change both upward and downward, depending on the demand and supply of Minexcoin (MNX) on the market.
This option allows you to calculate the precise income that will be received after the expiration of the chosen parking period.
By choosing this function, you confirm the intention not to reduce the amount of funds in your wallet less than the amount specified during the parking placing within 24 hours.
By choosing this function, you confirm the intention not to reduce the amount of funds in your wallet less than the amount specified during the parking placing within 7 days.
By choosing this function, you confirm the intention not to reduce the amount of funds in your wallet less than the amount specified during the parking placing within 365 days.
In order to use parking option, make the following steps.
Create receiving address marked “MyMinexBank” in the downloaded MinexCoin wallet (File -> Receiving addresses -> + New)
To do it: The first step: specify your Minexcoin Address (File-> Receiving addresses) with the label “MyMinexBank” and the password that you will use for authorization.
The second step: MinexBank should receive confirmation that the address is yours. To do this, select “File-> Sign message” in the MinexCoin Wallet.
In the first field, enter the address that you have used for registration during the 1st step. In the second field, write the word “minexbank” without quotes and spaces and press “sign message”. Then, copy your signature and paste it into the corresponding field of the registration form in MinexBank and press “confirm”.}
User comes first. Intuitive design will help you to master functionality of the application in a few minutes.
Be the first to learn about changing interest rates for parking operations.
With the help of fingerprint verification, you can increase the level of protection from unauthorized access to the control panel of the MinexBank services.