Signal, one of the best messaging apps in terms of privacy protection, has integrated a crypto into its app since April 6th, to allow its users to send and receive money.
In the United Kingdom, the integration of MobileCoin (MOB) within the Signal app has started the testing phase. Signal's choice to integrate this crypto was surprising because MobileCoin is not very famous nor particularly used and listed only on FTX and BitFinex.
MobileCoin on Coinmarketcap: https://coinmarketcap.com/it/currencies/mobilecoin/
Yesterday Signal published the feedback of its users about MobileCoin and 3 problems emerged:
1. High Fees
Many users have complained about MobileCoin's high transaction cost of around $0.60 per transaction.
2. Difficulty of buying and selling
Users who want to buy MOB using fiat in order to transfer them to their signal account must purchase MobileCoin through wire transfer, which entails additional transaction and withdrawal fees.
3. Volatility and lack of transparency
MOB was also criticized for its high volatility ($6 to $60 before the announcement of the integration of MOB in Signal) and its dark reputation within the crypto market. We don't known what it is MOB market capitalization as this data is not available neither on Coinmarketcap nor on Coingecko. Many users have defined it as a real shitcoin.
MOB has been chosen by Signal because it is privacy-focused and mobile-oriented coin but many users' feedback reveal critical issues concerning MOB. Was the choice of MobileCoin by Signal too hasty?
To learn more: https://cointelegraph.com/news/revealed-top-4-user-complaints-about-signal-s-new-crypto-payments-beta?utm_source=Telegram&utm_medium=social
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