• MonaCoin (MONA) Price

    What is MonaCoin?

    MonaCoin is an alternative cryptocurrency that started as a meme coin in Japan in 2013 and was officially launched in January 2014. However, Monacoin has snowballed into a serious commodity over the years. Based on the Litecoin technology, MonaCoin uses the Lyra2Rev2 algorithm. A large number of developers and users have worked on the currency to improve its speed and security level.

    History of MonaCoin

    MonaCoin was created by an unknown individual called “Mr. Watanabe,” through a post on Japan’s 2channel also known as 2chan. The name “Mona,” is based on a popular character from ASCII that looks similar to a cat emoji. Monacoin is claimed to be the first Japanese cryptocurrency. It was initially meant to be used as gaming currency that is seen on gaming platforms. However, owing to an increase in its popularity, it became a serious cryptocurrency with a decent market capitalisation.

    Features of MonaCoin

    MonaCoin focuses on decentralization and P2P payments. It enables quicker transaction speed and a higher amount of currency in circulation. MonaCoin is exclusive to Japan at present. It features the Lightning Network and Segwit. Users can transfer funds on the MonaCoin platform and also buy and sell tokens. Furthermore, the platform also enables trading of coins. Thanks to the implementation of the Lightning Network, MonaCoin conducts faster transactions and instant payments.

    Where to buy MonaCoin?

    MonaCoin is listed on popular exchanges like Upbit, Bitbank, Livecoin, Bittrex, and Zaif. The market capitalisation of MonaCoin as of May was $262,012,415.

    MonaCoin Mining

    MonaCoin tokens can be mined as it uses an ASIC-resistant proof-of-work algorithm. The mining difficulty level changes every time a new block is created.

    MonaCoin Wallets

    MonaCoin tokens can be stored in wallets for Android, Linux, Mac, and Windows. The price of 1 MonaCoin token at the time of writing this article was $4.42 USD.

    MonaCoin Price Trends

    DateOpenHighLowCloseVolumeMarket Cap
    5/30/20183.383.433.233.32020240001824650
    5/29/20183.383.473.313.362020620001644810
    5/28/20183.333.483.323.381987500001259050
    5/27/20183.373.373.293.33201077000670210
    5/26/20183.293.413.283.32196558000632749
    5/25/20183.423.473.283.32038820001260200
    5/24/20183.313.473.263.411975220001281160
    ViewMoreLess

    Risks involved with MonaCoin

    Similar to Dogecoin, MonaCoin started as a mean following which it became an actual cryptocurrency. Just like several other cryptocurrencies, MonaCoin is risky and volatile in nature. It is therefore advised to invest in mutual funds  instead as they are more reliable.

    Disclaimer:

    "The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

    A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.