What is Mothership (MSP)?
Future of MSP Cryptocurrency and know how to buy MSP

#1 What is Mothership (MSP)?

Mothership: The Basics

If you happen to be a cryptocurrency trader, you can just hop onto the Mothership platform. Simply put Mothership is an in-development platform and a "Cryptocurrency exchange built for traders with fiat support," according to Mothership’s official website.

  1. What's more, you can win your way to the company's headquarters in Estonia by being a top trader in the upcoming trading tournament (with no official date mentioned on the website).
  2. More or less, it's a virtual cryptocurrency platform which is specifically built to heighten the Estonian economic development.

Mothership Development

  1. Mothership was launched by Arseny Zarachnev (CEO) and Anton Egorov (CTO) in July 2017 via an Initial Coin Offering that raised $5 million.
  2. The founders had previously worked together on another venture - a management consultancy firm called Sabaka that they also founded together.

 

#2 What are the benefits of Mothership?

Mothership Technology

The Mothership network is built on the back of 4 core services:

  1. An EU token market, which will function as an access point to existing cryptocurrency markets for companies based in Estonia. It will also assist in the launch of new tokens and ICOs. The Mothership organisation will assist startups in designing and executing a legal framework for their digital assets and setting up funding processes.

  2. A cryptocurrency exchange that the organisation claims will serve users globally, with a special focus on Estonian e-Residents and businesses. The idea here is to provide 24/7 uninterrupted, secure access to the crypto markets.

  3. A KYC-approved crypto wallet that will integrate with the users’ e-Residency digital identity, protecting their funds using their digital signatures.

  4. A hosting platform that will connect to a blockchain and exchange: The Mothership organisation will deliver a PaaS solution allowing users to host applications on its data centers. This will serve as the backbone for applications leveraging high frequency trading , payment gateways or any other service. With its connection the Mothership exchange, users should get extremely low latency, along with easy scalability.

Transactional Processes

  1. If you are an Estonian, Mothership can be a one-stop solution for all your cryptocurrency requirements - from trading to storing them. As an international participant too, you will have access to these features.
  2. Mothership intends to leverage Estonia’s e-Residency laws to allow anyone to trade on its exchange and use its services, globally.
  3. According to the Mothership whitepaper, the MSP token “allows you to incorporate your blockchain business in Estonia, operate it 100% remotely, get a bank account and link it with [Mothership’s] exchange”.

 

#3 How to buy and store Mothership?

How to buy MSP?

  1. The platform had its own ICO - called the Mothership coin (MSP), based on the ERC20 coin. If your transact using the MSP currency, you enjoy a reduced fee privilege on the Mothership exchange platform. Also, you can access priority support, pro trading features like advanced order types and test their products earlier than other users.
  2. If you want to buy Mothership coins using your bank balance, then you need to go through a two-step process. First, you need to buy BTC or ETH from an exchange which accepts deposits from a conventional bank transaction. Then you need to sell your crypto to a marketplace where MSP coins are given in exchange for BTC or ETH. Cryptopia, CoinExchange, HitBTC, Tidex and CoinSwitch are such platforms that can give you MSP in exchange for your cryptos.
  3. CoinSwitch is the largest cryptocurrency exchange platform that offers a lucid method to convert your cryptocurrencies to Mothership coins. Using CoinSwitch's real-time price chart, you can easily estimate on when to buy Mothership coins. To trade Request Network to Mothership, all you have to do is download the Mothership wallet from the cryptocurrency site. Once it's done, you can track the progress of your conversion via the Coinswitch's UI.

Mothership Wallet Storage

You can use Mothership's own wallet to store your funds. Else, there are plenty of third-party wallets which support MSP coins. Among them, MyEtherWallet, Ledger Wallet, Trezor, Ethereum Mist dApp and MetaMask are the most popular names.

 

#4. What is the future of Mothership?

Also Read: Complete Analysis of Mothership | Live Mothership (MSP) Price Charts And Predictions

Price History

Date

Open*

High

Low

Close**

Volume

Market Cap

Jul 04, 2018

0.115030

0.120383

0.113657

0.118167

79,180

16,104,200

Mar 04, 2018

0.212517

0.240016

0.197637

0.223077

88,027

29,752,400

Dec 04, 2017

0.121716

0.126106

0.105831

0.116850

360,368

17,040,300

Sep 04, 2017

0.247232

0.252476

0.190443

0.227993

444,024

34,612,500

Aug 04, 2017

0.054993

0.061320

0.052777

0.055195

49,345

7,698,970

  1. To be precise, Mothership wants to build Estonia into a new cryptocurrency hub. The country’s unique concept of e-residency, in combination with a constructive vision might make it the most popular cryptocurrency exchange platform. Most importantly, the entire system is still in the incubation stage.
  2. Mothership is also looking to assist other companies to work on their respective ICOs. The platform has an in-built launch facility that supports companies in starting their own ICOs. The same platform accepts a wide range of cryptocurrency tokens, provides legal help and verifies any exchange with accuracy and speed.
  3. For international customers including companies and individuals, the e-residency program can be beneficial. If you are a non-Estonian, all you have to do is sign up for an e-Residency card which you can get from an Estonian embassy. This digital identity will enable you to get a bank account and run your business entirely online.
  4. You can make the most out of Estonia's futuristic tax system that encourages you to reinvest profits in your company's growth with its 0% corporate tax plan.

The total supply of the MSP token is capped at 200 million coins, out of which 140 million are currently in circulation (since 70% were released during the ICO):

  • Another 20% were reserved for Mothership’s strategic investors.
  • 5% of the circulation was reserved for a referral program Mothership intends to run for its users.
  • The remaining 5% have been reserved for its founding team and members.

 

#5 How is Mothership different from other cryptocurrencies?

  1. Truth to be told, the concept of having a unified transaction exchange platform with its own ICO is not unique. However, the vision it comes with is not a random idea but is well backed up by the Estonian government.
  2. The concept is nourished further with the e-Residency program which allows an investor to enjoy premium services from the company.
  3. The purpose here isn’t to simply create a platform for the exchange of monetary value (like Bitcoin), but to build an entire ecosystem for the promotion of the cryptocurrency industry - from crypto trades to ICO setups.

 

#6 Should you invest in Mothership?

  1. To be honest, Mothership is not offering something we haven't heard about. Like any other exchange platform, it also has a lot of potential to rise.
  2. However, similar to any other cryptocurrency, it comes with high-risk factors. Before you decide to invest in it, it's good to measure the potential of this coin in terms of its roadmap, its success so far, and the team behind it.
  3. As per the whitepaper, the MSP token is an essential requirement for:
    - Access to Premium and Platinum account tiers
    - The Mothership app platform layer
    - Community curation and insight rewards
    - Access to Mothership beta products
    - Mothership reputation management.
  4. This is a lot of functions that the coin serves, which should hopefully add to its value perception amongst investors and the market in general. At the same time, the idea of stuffing in multiple features to an ecosystem could also prove to be counterproductive if marketing to the masses.
  5. Mothership also plans to buyback MSP coins from the market and burn them - eventually leading to destroying 50% of the current supply. This should have a deflationary impact on the currency, leading to an increase in its value.
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