A Complete Guide on the MSME Ecosystem and MSMECOIN

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A Complete Guide on the MSME Ecosystem and MSMECOIN
A Complete Guide on the MSME Ecosystem and MSMECOIN

The advent of blockchain technology and cryptocurrency has transformed the world of finance and economy. Many sectors around the world are now adopting blockchain technology to improve their method of operation. 

Today every business looks for competitive ways to take advantage of their market. This is why most businesses use blockchain technology to smoothen workflow and create impeccable trust amongst each other. Micro, small, and medium enterprises struggle to succeed among the big dogs in the niche market. To help micro small and medium enterprises thrive, MSME is a blockchain platform that builds innovative products and features to bridge this gap. This article highlights how MSME works and how you can participate in this ecosystem.

What is MSME?

MSMEs is a blockchain system aimed at assisting micro, small, and medium-sized businesses in their growth. It offers a variety of products to help firms obtain funding and prosper in a highly competitive industry. The MSME ecosystem has so many features that help businesses thrive in the market. 

One of such features is MSME Finance. MSME finance allows businesses to get funding from possible investors. Truss, a Defi product, is used to create this innovative financing system. Truss is a platform that allows businesses to acquire money while also ensuring that investors are rewarded for their contributions.

The MSME blockchain uses a two-system model. The first is a trust system that combines centralized and decentralized network infrastructures to supply P2P products and services via MSMEs Apps. The second is a trustless system that makes use of a fully decentralized data multi-blockchain infrastructure to supply peer-to-peer products and services via MSMEs Apps.

Both systems work together to give businesses access to the greatest blockchain-based services. MSMEs applications are an important part of the MSMEs ecosystem, and they are based on a three-network design that incorporates a centralized, distributed, and decentralized system.

The apps will have a variety of functionalities and will be able to conduct transactions in numerous currencies and blockchains. Businesses will integrate the apps into their systems and benefit from reduced transaction fees and quick confirmation times.

Another feature is the MSME Academy. The MSMEs Academy takes a more straightforward approach to education by ensuring that MSMEs have a solid understanding of how to take advantage of opportunities in the crypto and blockchain ecosystem.

The MSMEs Network is a marketing framework built by MSMEs to encourage the use of MSMEs Apps. Network Managers, Network Cooperatives, NGOs, and influencers are among the four key actors in this unique network architecture. Each member plays a unique role in the networking system and will collaborate to promote MSMEs apps and services in exchange for prizes. MSMEs token allocation and transaction fee sharing are used to pay participants.

With its MSMEs Financing offering, MSMEs is also redefining crypto investment securities. MSMEs Financing was established as a proof-of-concept (POC) mechanism to assure proper financing for small and medium-sized businesses.

MSMEs incorporates its decentralized financing solution Truss, which allows frictionless access to credit while ensuring security for investors and businesses, to achieve these goals.

MSME Native Coin (MSMECOIN)

MSMEs Coin is a utility currency that powers the MSMEs ecosystem’s products and services. MSMECOIN holders can use it to finance their accounts, make group contributions, pay fees, donate to Truss Vault, and use the saving and staking services on MSME. 

With a limited supply of 10,000,000,000,000,000 MSMECOIN, small, micro, and medium businesses can take advantage of the MSME ecosystem to reach thousands of enterprises globally. 

How to Buy MSMECOIN from PancakeSwap on Trust Wallet

In an era where businesses use every possible means to improve their workflow, blockchain technology has become a means towards that end. MSME is a blockchain project that focuses on helping small and medium businesses thrive in a competitive market. 

With its endless products, such as its DeFi finance system, MSME Academy, and staking services, small and medium businesses now have access to financing and crypto education to help them compete with the very best in their sectors. 

The MSMECOIN is a utility token that allows small and medium businesses to save and stake their funds in the MSME project. MSMECOIN is available on different exchanges such as PancakeSwap and Coinsbit. This article highlights how you can buy your MSMECOIN on PancakeSwap using Trust wallet.

Steps on How to Create Your Trust Wallet

  • Step 1– Go to Google Playstore or Apple Store on your phone and search for Trust wallet. Select the first one that comes up, then download and install it on your phone.
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  • Step 2– After installing, open up the app. It will ask you if you want to import or create a new wallet. Select the option to create a new wallet.
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  • Step 3– After clicking on create a new wallet, you will be presented with 12 Phrases. Would you mind writing these 12 phrases according to how it’s arranged in a safe place that you can easily remember? These 12 phrases are called your seed phase and are the key to your wallet. It would be best if you NEVER shared it with anyone.
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  • Step 4– After writing the 12 Seed phrases on a book, you will see a button that says continue. On the next page, you will select the phrase according to how it was arranged on the previous page. 
  • Step 5– Once all the above is done, you can now proceed to create your wallet.
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How to Buy MSMECOIN on Pancake Swap

  • Step 1– Copy the MSMECOIN contract address provided below.

Contract Address: 0xf575a31d804b2034cab5f96d4db500907e720d3b

  • Step 2– Open your Trust wallet. On the tabs below, you will see Dapps. Click on that Dapps, and you will be taken to a browser. 
  • Step 3– Scroll down to the popular section and see Pancakeswap.finance, or type in the search bar Pancakeswap.finance.
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  • Step 4– After the page has successfully loaded, look to the top right of the page and look for the symbol in the red circle. Change the symbol on the top right corner from Ethereum to Binance Smart Chain. You can do that by clicking on the symbol, then selecting the one that says Smart Chain.
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  • Step 5– After completing the step above, click on “Connect Wallet” to accept the prompt shown to you. After you’ve successfully connected your wallet, you can then proceed to buy the MSMECOIN.
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  • Step 6. You will see two columns. The first one will have BNB because that’s what you’ll be using to pay, and then the one below is where you will insert the MSMECOIN contract address.
  • Step 7– On the second column below, click on the “Select Currency” option. A page will open.
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Paste the contract address provided in step 1 in the search bar and wait for the MSMECOIN name to show. 

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Once it does that, click on import. A page will open where you can check all the boxes and click on continue.

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  • Step 8– After you’ve completed step 7, you can then proceed to buy your MSMECOIN; by typing in the amount of BNB you’re willing to spend, the equivalent amount will show on your MSMECOIN. 
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  • Step 9– Proceed to click on “Swap,” it will load and take you to another page. On that page, you will see a blue button that says “Confirm Swap.” 

Click on it and wait for it to load. A dialogue box will open where you have to approve your transaction. Confirm, and your MSMECOIN will be sent to your MSMECOIN wallet.

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NOTE: Please make sure you have enough Binance smart chain to cover fees; otherwise, your transaction will not go through.

Steps on How to Create Your MSMECOIN Wallet on Trust Wallet

  • Step 1– Copy the MSME contract address provided – 0xf575a31d804b2034cab5f96d4db500907e720d3b
  • Step 2– Go to Trust Wallet and then look at the top right corner of the page. You will see an arrow-like symbol circled in red in the image below. Click on it.
  • Step 3– After you’ve clicked on it, go to the search bar, type in ww. Look for Add Custom Token and click on it. A dialogue box will appear. 
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  • Step 4– On this new page, you will see Network. Click on that, and it will show you a list. 

Select Smart Chain. After selecting it will bring you back to the previous page.

  • Step 5– Paste the MSME Contract address you copied in Step 1. After you’ve pasted the address, the rest of the information needed will appear. 
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It should correspond with the data below;

Contract Address: 0xf575a31d804b2034cab5f96d4db500907e720d3b

Decimal: 18

Token: MSME

Proceed to click done, which is on the top right-hand corner of the page. 

After clicking done, you have successfully created your MSME wallet.

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Conclusion

One can no longer underestimate the importance of blockchain and cryptocurrency in businesses today. If your business is a small or medium enterprise, MSME is the right project that you should look out for. You can use the guide above to buy some MSMECOIN in Trust Wallet to participate in the MSME ecosystem.