What Is Mithril?

Nov 24, 2022
4 min read

This blog post will cover:

  • About Mithril (MITH)
  • Where did Mithril (MITH) come from?
  • What are the advantages of Mithril (MITH)?
  • What are the disadvantages of Mithril (MITH)?
  • How to buy Mithril (MITH) on SimpleSwap?

About Mithril (MITH)

MITH (MITH) is a utility token of the MITH ecosystem, based on the Ethereum blockchain. It is the most widely used token in Asia. The idea of the project is that in the future MITH holders will be able to purchase everyday goods through the MITH network. MITH has the fastest growing use cases of cryptocurrencies in Japan, Korea, Taiwan, Singapore, Malaysia, Indonesia, Hong Kong, and Macau. MITH is accepted at more merchants and across a larger user base in these markets than Bitcoin or Ethereum. Partners such as M17 Entertainment,, Machi X, Burton, and more bring in over 70-million users into the MITH ecosystem.

Right now MITH consists of:

  • MITH aims to construct a comprehensive ecosystem that revolves around MITH and further spend MITH in various real-life scenarios.
  • MITH is now headed down the path of expanding MITH Network down two major verticals - Dating and Gaming. Not only are both dating and gaming fundamentally social activities, demographics of gaming and online dating platforms users also map well to the demographics of the MITH community.

MITH total supply is 1,000,000,000. The team decided to go with the private sale.

Where did Mithril (MITH) come from?

A founder of MITH is Jeffrey Huang. He came to cryptocurrency from the entertainment industry, and his musical career is what he is famous for back at home. He is from Taiwan, where Jeffrey was a member of a boys band named LA Boyz. However, he developed an early interest in cryptocurrency. And followed new technologies since 1998 starting with the dot-com bubble.

What are the advantages of Mithril (MITH)?

Users find a lot of advantages in the MITH network.

  • Profit
    Users can use MITH in MITH ecosystem. As an utility token, it is anticipated that MITH holders will be able to spend it in all walks of life, such as purchasing daily goods or audio/video entertainment services.
  • Multifunctionality
    The MITH token can be used in different ways: as a reward for content, for payments within the network, also holders can stake their tokens.

What are the disadvantages of Mithril (MITH)?

Undoubtedly, MITH is an attractive project. It is growing and the number of people interested in joining the MITH community is increasing. Nonetheless, some users emphasize a couple of disadvantages:

  • Non-minable
    MITH cannot be mined. Even though there are other ways to get token, some people would love to participate in mining.
  • Hard competition
    MITH is competing with social networks that exist for a long period of time and have enormously large audiences. It is hard to draw mass attention to a new network in a short time.

How to buy Mithril (MITH) on SimpleSwap?

If you feel inspired by the opportunities of the MITH network, we invite you to become a part of it following these few steps:

  • For example, you want to swap BTC for MITH. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select MITH in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. MITH will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to MITH exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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