How do we call a Mona Lisa crypto? MonaCoin! Confusing? Well, that’s not our intention. We need to highlight that if you didn’t buy a $5 Bitcoin, you should be on the lookout not to miss another fantastic crypto opportunity. So let’s explore MonaCoin.
MonaCoin is an open-source virtual currency created on a hard-folk of Litecoin and named after an internet meme that originated from ASCII characters, specifically Mona. It is popular in Japan and has been approved by the financial authority for daily use.
Why is MonaCoin Popular?
MonaCoin was the first alternative crypto created in Japan. It earned a strong reputation and gathered an active community of traders who raised the crypto’s utility. MonaCoin belongs to all users like any other decentralized project, so no one owns it. The platform has a unique peer-to-peer technology that makes it self-governing.
Who Owns MonaCoin
Similar to the forefather, Bitcoin, there is no verified information about the team that developed MonaCoin. Like father, like son. It was launched by a faceless Mr. Watanabe on an internet bulletin board.
Where to Trade MonaCoin
You will not find MonaCoin on Coinbase, but several exchanges offer this virtual coin. CoinMarketCap.com is the easiest way to find a list of places to purchase any crypto. Visit the website and type “MonaCoin,” in the search bar. Compare the different exchanges available and pick one that’s most suitable.
How to Trade MonaCoin
Trading MonaCoin works differently on every platform. Some platforms are easier to use than others. The general method is as below.
- Sign in
First, you must be signed into an exchange that offers MonaCoin.
- Place an Order
Place your buy or sell order. For a buy order, you will specify the number of coins you want to buy or the amount of money you are ready to spend. For a sell order, simply indicate how many coins you want to sell.
- Complete your Transaction
You complete a buy transaction by making a payment. The coins will get deposited in your wallet afterward. For a sell order, finishing a transaction means authorizing the release of your coins and receiving the corresponding funds.
You can exchange Mona with another crypto or a fiat currency like the U.S Dollar. That wasn’t rocket science. Was it?
Can you transact with MonaCoin?
MonaCoin is already a staple currency in Japan, and just like fiat, you can use it to make purchases. Most online shops catering to the Japanese people accept payment by Mona. Online Casinos and Gaming sites are not left out. MonaCoin holders can also make donations and issue tips online. If you’re thinking about investment, all you need to do is buy MonaCoin and hold until it gains your desired value. Analyst project that asset will grow to $5.86 by 2025, over 500% gain. Doesn’t it sound like the easiest path to riches.
MonaCoin was launched in January 2014.
MonaCoin is a good investment. It requires little capital and could earn investors abnormally high returns. Remember to invest money you are willings to lose as this has no guarantees.
You are free to trade MonaCoin in the US as long as you do it within the regulatory framework. Don’t forget to declare all your coins while filing for taxes.