Description for Magnet
Magnet is a cryptocurrency.The project was started in November 2017 as a masternode/PoS coin. At the begin there was a premine of 250.000 coins.
The team has created a product called litemint, litemint is also connected to Stellar.
Started as a normal cryptocoin, with the swap to a stellar token masternodes are not longer implemented.
Official website : https://magnetwork.io/
The team and community
There is an active discord group for this cryptocurrency on discord. You can talk with the team , get support on problem, and meet other enthusiast people in the community.
The team has its head quarter in Estonia and has 5 core members, according the official website. In discord you can find more people helping this project with sub projects and supporting the growth of the environment for this coin.
Review for Magnet
Magnet lost their last serious exchange listing with the closing of Coinexchange. But the people holding this coin can move them to Litemint, in litemint magnet will become a token on the stellar chain and it is possible to trade them for stellar at stellarport (exchange in litemint) if they want.
This cryptocurrency was also listed at Cryptopia. It is unknow how many coins got lost whit the closing of this exchange. The swap to a stellar token will make it unable at some point that these old coins can be converted to the new the new token, as the old chain will no longer be maintained and will go down/disappear.
Not saying it is good or bad, at least the team keeps the project life in a refreshing environment.
When you hold this cryptocurrency in the litemint wallet, you can earn stakes even when you are not online.
The team is developing a market place for peer to peer trading of goods for cryptocoins.
All parts together , the Magnet project is running and keeps moving forward even in times that are very hard in crypto , with low coin prices. Magnetworks is definitely here to stay.
What is Litemint
Litemin is a wallet app. In this app you can hold coins and token, and play games , gather collectibles and coin rewards. It is a kind of platform for crypto that is growing the use cases. The base currency in litemint is stellar.
Disclaimer : we do have a balance of Magnet cryptocurrency , intended to keep them long term.
Last update of this page : 26-10-2019