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What Is Monetha?

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Jan 20, 2023
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3 min read
what-is-monetha

This blog post will cover:

  • What is Monetha (MTH)?
  • Where did Monetha (MTH) come from?
  • What are the advantages of Monetha (MTH)?
  • What are the disadvantages of Monetha (MTH)?
  • How to exchange crypto on SimpleSwap?

What is Monetha (MTH)?

Monetha (MTH) is a native token of a peer-to-peer payment platform based on Ethereum technology.

A distinctive feature of Monetha is the presence of a built-in decentralized reputation assessment system based on a smart contract. It means that when the transaction is completed, the seller and the buyer can evaluate each other. Important information about the transaction (for example, about the provided guarantee) is recorded in the blockchain. As a result, each seller and buyer will have their own trust rating and reviews.

In addition to great reliability, Monetha developers have made their payment gateway cheaper to use than traditional solutions - instead of the usual 2% -6% commission, the transaction fee here is only 1.5%.

Monetha's decentralized trust and reputation solution enables mobile payments to be processed using Ethereum smart contract technology. Thus, these payments can be accepted, processed cheaper and faster.

Now the Monetha project is in the process of shifting its focus from peer-to-peer payments to self-sovereign identity.

Where did Monetha (MTH) come from?

The use of Monetha (MTH) as a full-fledged product in the cryptocurrency market began in January 2017. Several minds collaborated and created a product that would meet the requirements and wishes of netizens. The author of the project is Andrej Ruckij - he previously headed the product development department of the Adform company. His ideas were also used to run Agile Mindstorm, a blog popular among certain people.

Developers of Monetha want to establish a global trusted e-commerce reputation checking ecosystem. This is beneficial for both buyers and sellers as it removes the problem of buying a pig in a poke and allows people to transparently assess their previous experience.

What are the advantages of Monetha (MTH)?

  • High transaction speed
  • High level of security
  • A dynamic rating system that allows people to work with trusted sellers

What are the disadvantages of Monetha (MTH)?

  • There is no way to instantly withdraw tokens without going public
  • Dependence on Ethereum

How to exchange crypto on SimpleSwap?

Excited to continue discovering the Crypto World? If you want to purchase some coins, then use SimpleSwap. It's very easy, just read the short guide below:

  • For example, you want to swap BTC to ETH. Select the currency you want to exchange (e.g. BTC) in the first drop-down list. Then enter the amount you want to swap.
  • Select ETH 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. ETH will be sent there. 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 ETH 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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