J ThompsonThanks to its cult following in Japan, its country of origin, MonaCoin is attracting investors’ interest. After hitting its all-time-high back in 2017, MonaCoin may be one of the coins to emerge from the crypto winter.
Below, we show investors how to invest in MonaCoin. We also look at an altcoin alternative in the form of TAMA, a meme coin with the utility of the Tamadoge P2E platform, tipped to be the new and improved Dogecoin. TAMA is available now in its presale phase. We show you how to place a TAMA order.
How to Buy MonaCoin – Quick Steps
- ✅Open an account with an exchange – Visit one of the smaller online platforms MonaCoin is listed on – such as Bittrex. This is not one of the leading crypto exchanges today but it has a MONA/USDT and MONA/BTC pair.
- 🔑Verification – The exchange will take users through their Know Your Customer (KYC) process.
- 💳 Deposit – Deposit crypto from a wallet, fiat, or buy crypto instantly with a credit card.
- 🔎 Search for MonaCoin – Just enter ‘MONA’ in the search bar.
- 🛒 Buy MonaCoin – Choose a payment method.
Where to Buy MonaCoin
Investors researching how to buy MonaCoin need to sign up to an online broker or one of the best altcoin exchanges. There are many to choose from. Below we review one global exchange that offers low transaction fees as well as two trading options for MonaCoin.
Bittrex – Global Crypto Exchange
Bittrex is based in Seattle, US, and was founded in 2014 by three cybersecurity experts: Bill Shihara, Richie Lai, and Rami Kawach. All three founders have served global e-commerce giant Amazon defending against online security threats. This is significant because it gives Bittrex an excellent pedigree in security. The exchange’s security measures include cold storage, two-factor authentication and IP address whitelisting.
More than 400 cryptocurrencies are offered by Bittrex. This includes all the major blockchain coins as well as some of the best gaming crypto coins.
Investors figuring out how to buy MonaCoin will be pleased to see that there are two trading pairs available: MONA/BTC and MONA/USDT. This means that MonaCoin may be exchanged for either Bitcoin or stablecoin Tether. Both are available with instant credit card purchase onsite. Or investors may import crypto into their Bittrex account with no deposit fee (apart from gas fees).
- When it comes to fees, Bittrex takes a specified commission on instant buys. On the exchange, a maker/taker model is used. This charges a maximum of 0.75% commission.
- Regulation for Bittrex is covered by the Digital Asset Business Act (DABA) in Bermuda as well as the Trustworthy Technologies Act in Liechtenstein.
- Crypto staking – which means locking in crypto on an exchange for a specified period in return for a financial yield – is available for ADA (the coin of the Cardano blockchain).
- Bittrex runs a referral incentive scheme. Recommend a friend and earn 10% of the commission chargeable on their trades.
The best Binance alternatives list small coins such as MonaCoin.
What is MonaCoin?
MonaCoin is a decentralized payment network. It was specifically designed in 2013 to offer fast and safe peer-to-peer transactions.
The MonaCoin system is a distant descendant of Bitcoin. MonaCoin is based on an algorithm named Lyra2Rev. This is based on a hard fork of Litecoin, which itself is a fork of Bitcoin.
This means MonaCoin transactions are authenticated using the Proof-of-Work (PoW) consensus algorithm – rather than the more modern Proof-of-Stake (PoS) algorithm, which uses less electricity.
Investors pondering how to buy MONA should bear in mind that MonaCoin’s PoW basis means that it is not one of the best staking coins.
This is because staking is not part of its validation process. But some do consider MONA to be one of the best coins to mine instead.
- MonaCoin’s undiluted market capitalization currently stands at $36m, with a daily trading volume of roughly $50,000.
MonaCoin and Japan
Although a global network, MonaCoin is firmly rooted in its country of origin, Japan. It was the first altcoin to come out of Japan and has had a strong native following in the past.
MonaCoin is accepted as a payment method by some Japanese retailers, including:
- BitcoinMall: an online e-commerce platform that accepts digital currencies.
- Ark: an electronics store.
There is also an online Mona forum and crypto app called Monappy. Here users can store and exchange Mona as well as purchase physical and digital items.
Japan’s Financial Services Agency has approved the coin.
MonaCoin was founded by the pseudonymous ‘Mr. Watanabe’. This is a homage to Bitcoin’s founder Satoshi Nakamoto. ‘Watanabe’ is also one of the most common surnames in Japan.
The identity of the development team remains a mystery to this day.
What we do know is that the Mona logo is based on the ASCII cat character, Mona. This was popular on the Japanese online forum 2Chan.
MonaCoin and ASIC
ASIC stands for ‘Application-Specific Integrated Circuit’. ASIC is a machine that, at one time, threatened to put crypto miners using GPUs (General Processing Units) at a disadvantage.
- To counter ASIC mining on its blockchain, MonaCoin was first released with the Scrypt algorithm.
- The Scrypt algorithm then became vulnerable to ASIC mining. MonaCoin was upgraded as a result of the Lyra2Rev algorithm.
MonaCoin and Security
The extended MONA network has been hacked at least twice:
- In 2018, $90,000 was lost to a miner who temporarily took control of the MONA blockchain. The security flaw was subsequently fixed by developers.
- In 2019, 97,000 tokens were stolen from the Monappy app. 7,700 users were out of pocket. The thief was subsequently caught by the Tokyo Police Department’s cybercrime division.
Is MonaCoin a Good Investment?
Are MonaCoin’s best days behind it?
- MONA achieved astronomical price increases in 2017. But since then, the general direction of travel for its price has been downwards.
- As a payment crypto, MONA has been superseded by other cryptos. Despite it being faster at completing transactions than Bitcoin, it is no faster than Dogecoin for example.
- Outside of Japan, MonaCoin has little public awareness.
It would be easy to conclude that MONA is a sleepy vintage crypto and we have offered a full in-depth price prediction for MONA from 2022-2025.
Arguably the best future cryptocurrency to invest in is a coin in its presale phase.
One example of such a rare gem is TAMA, the dog-themed utility coin for the Tamadoge play-to-earn/NFT platform that some say is going to be the next Dogecoin or Shiba Inu. Investors can buy TAMA in the beta presale right now (we show how below).
With prices due to go up by 25% in a month, TAMA is one of the best crypto presales online. MonaCoin, on the other hand, is long past its presale phase.
MONA came to market in 2014. It then increased in value by over 30 times during late 2017, before falling back. Will it hit those heights again? There is no hot MONA coin news on the horizon – but this altcoin certainly has five positive factors supporting its price.
1: Strong Backing in Japan
It does not hurt for any of the best utility tokens to have a stronghold of support somewhere. And MonaCoin certainly has had a cult following in Japan, the country of its origin.
MONA first became popular in Japan after the notorious hacking of the Japan-based Mt. Gox Bitcoin exchange in 2014. TV coverage in Japan presented MONA as a Japan-based safe alternative to Bitcoin – showing a man buying a Shinto shrine with MONA.
- MONA users have developed a variety of MONA-based web applications.
- Japanese shrines to MONA have been erected.
- MONA has become synonymous with tipping, leading to the usage of the pun ‘Monage’, モナゲ, which in English literally means ‘throwing mona’.
2: Resilient Recent Price Performance
Despite the crypto winter, MonaCoin has followed other meme coins in showing strong recovery recently.
Compared to gains in the past, its recent gains do not look spectacular. But the fact remains that MonaCoin is up 20% in less than 4 weeks.
- We can see that MONA hit a monthly low of $.04659 on July 14th, 2022.
- By August 3rd, 2022, it had reached $0.5606.
This means that if an investor had bought $1,000 of MONA on July 13th, 2022 then they would now have $1,200 (minus the spread fee and any commissions charged on their transaction).
- Below is a chart showing the price of MonaCoin in the month of July 2022.
3: Swift Performance as a Payment Network
MonaCoin has two technological enhancements that make it relatively fast at reconciling transactions.
- Developers have integrated the Layer-2 Lightning Network, which also makes Bitcoin transactions faster.
- Segregated Witness – or ‘SegWit’ – was implemented via a soft fork. This is also used by Bitcoin as well as Litecoin to make transactions faster.
Although MonaCoin is not as fast as many modern payment coins, it is faster than Bitcoin. It boasts a block time of 1.5 minutes.
4: Legitimate and Approved by a Sovereign Authority
Potential investors might well rightly ask: is MonaCoin legit? The answer is definitely yes. This is no rug-pull scheme.
Apart from anything else, MonaCoin has been around since 2014. What’s more, it is approved by Japan’s Financial Services Agency.
And the founders of MONA have had no exclusive financial interest in MONA from the beginning, as they make clear with this declaration on the MonaCoin website: ‘Since Monacoin’s launch, Monacoinproject has not set aside any coins for theirselves (themselves) (known as “premining”) – in other words, the developer of the coin and all of its users all have had the same conditions for obtaining coins from the very beginning (this can be confirmed by anyone by inspecting the blockchain).’
Good Tokenomics
With a current price of $0.5563, MonaCoin may be considered one of the best crypto under $1 by some investors. One reason for interest in MonaCoin is its low maximum supply of just 105 million coins. Currently, 65 million have been minted and are in circulation. This low amount of coins accounts for MonaCoin’s low market capitalization of just over $36m.
Investors musing how to buy MONA may well ask: so what? Well, with tokenomics based on a relatively low supply, MonaCoin is more susceptible to rapid increases in price – should interest suddenly pick up. What’s more, this makes MONA deflationary. With a limited supply of 130 million coins, prices cannot spiral downwards owing to over-supply.
The only way to capitalize on any potential upside, of course, is to buy MONA now and HODL: Hold on for Dear Life.
MonaCoin Price
The MonaCoin price today is $0.5563.
From the chart below – Mona coin market cap – supplied by Coinmarketcap.com, we can see that:
- MonaCoin had its heyday in late 2017. Then it was certainly one of the fastest-growing crypto. The price rocketed in early October 2017 from below 50c to hit an all-time high of $16.61 on December 6, 2017.
- Despite surges in February and April 2018, and June 2019, the long-term price trend has been downwards.
- On January 1st, 2022, the MONA price was $1.25.
- The price has slid steadily until June 17th, 2022. At this point, a 2022 low of $0.475 was reached. Since then the price has crawled upwards to the present MONA price of $0.55.
- Newcomers to the crypto world should note that, when it comes to where to buy MONA coin, the price will differ slightly from exchange to exchange. This is because exchanges charge different spreads. The spread is the difference between the price for which an exchange is offering a coin for sale, and the price the exchange will buy it for.
MonaCoin Price Prediction
As we have observed, MonaCoin has gone up over 20% over the course of July 2022.
If MONA continues to rise at this rate, then it will cross the significant threshold of a value of $1 in early November and be worth $1.66 by the end of January. That would represent a 300% increase in its value.
Of course, past performance is no reliable indicator of future performance. There is no reason why MonaCoin should continue to rise at a rate of 20% per month.
It is more likely that MonaCoin will continue to follow the fortunes of the broader altcoin market, which the price of Bitcoin leads.
MonaCoin: Are there any Better Alternatives?
As the best crypto winter tokens are proving, it never pays to write off a crypto.
Having launched back in 2014, MONA is something of a vintage option. It could well rocket in price, as it did in 2017.
But if an investor wants to get in early on a potentially the best crypto for 2022, they might want to check out TAMA, an exciting hybrid of meme coin and utility coin at the center of a new play-to-earn/NFT world.
Tamadoge Overview
Tamadoge is widely-billed to be the next Dogecoin. Dogecoin is a dog-themed meme coin that delivered stellar returns in 2021 thanks to a cult following led by maverick Tesla CEO Elon Musk.
Dogecoin was followed by a whole kennel of canine copycats, including the wildly-successful Shiba Inu and low market cap crypto like Floki Inu, Kiba Inu and Baby Doge.
During many months of 2021, research has revealed that Dogecoin and Shiba were the most widely searched for crypto online of any kind in the US.
All the doggy crypto packs are meme coins. Some are widely used as tokens for peer-to-peer payment networks. But, apart from that, they do not offer utility.
No wonder then that some say TAMA will enjoy a price explosion when it comes to the major exchanges. That’s because Tamadoge leverages the popular interest in cute doggy crypto, but offers far more. TAMA is part of a whole Tamadoge metaverse complete with compelling play-to-earn mechanics and NFT trading.
Tamadoge – Leveraging Past Classics
It is not just canine crypto that Tamadoge builds from. Tamadoge further takes the fantastically-popular idea of virtual pets and brings it up to date.
Introduced in the mid-1980s, Tamagotchis were the first virtual pets. They are still available, with 83 million having been sold as of 2021.
Tamagotchis are not blockchain-based, like Tamadoge pets. Rather, Tamagotchis are egg-shaped plastic units with an LCD screen. Housed in each unit is a virtual pet, which the user must feed and train. As Tamagotchis developed, play-to-earn mechanics (based on Gotchi points), as well as interaction between Tamagotchis, were introduced.
In 2017, the blockchain game Cryptokitties took the Tamagotchi idea of virtual pets and put it onto the blockchain. There are now over 2m Cryptokitties, with each immortalized as a unique and tradable NFT (non-fungible token).
Tamadoge takes the idea of virtual pets and adds to it the thrilling play-to-earn mechanics of such giant hits as Axie Infinity.
Tamadoge – Welcome to the Future of ‘Doge-tastic’ Play-to-Earn Gaming
Tamadoge goes several steps further than any virtual pet video game before:
- Tamadoge NFTs will be rendered in gloriously animated 3D – rather than as static profile portraits.
- Using augmented reality technology, owners will be able to project their Tamadoge pets onto real places in the physical world. (Coming in Q4, 2023)
- Tamadoge pets will use their unique strengths (and weaknesses) to fight with each other to earn Dogepoints.
- Owners of Tamadoge pets will compete on a Dogepoint leaderboard. And top Dogepoint earners are rewarded with TAMA, which can then be used to buy food, clothes, toys and cosmetics for their Tamadoge pet. (Store coming in Q4 2022).
- A range of play-to-earn games will be available on the Tamadoge platform. To suit all tastes, these will differ in cost and difficulty.
- Tamadoge pets will interact in the ‘Tamaverse’ – the Tamadoge metaverse.
- Owners of Tamadoge pets can chat and swap tips on Tamaverse social media.
- The Tamadoge NFT format means that Tamadoge pets can also feature in other metaverses. The Tamadoge top dogs are looking to open partnerships with third-party metaverses in Q1 2023.
When it comes to tone, Tamadoge is set to avoid the grind of play-to-earn associated with classics like Axie Infinity, for example. The emphasis with Tamadoge is on a casual, immersive playing experience, in which earning happens naturally.
Tamadoge Tokenomics: Deflationary
- TAMA has a capped supply of 2 billion.
- 50% of the supply is available for presale.
- 30% of the supply will be unlocked over the first 10 years of project development.
- 20% of the supply will be listed on DEXs (Decentralized Exchanges) and CEXs (Centralized Exchanges).
- No transaction fees apply on the Tamadoge platform (other than gas fees).
It is not only TAMA’s capped supply that makes it a deflationary coin. 5% of transaction turnover at the Tamadoge store will be burnt, thus reducing the TAMA supply and maintaining upwards price pressure.
Tamadoge – Hot Beta Presale on Now
- TAMA’s beta presale ends soon – September 2nd, 2022
- The TAMA price is expected to increase by 25% after the presale phase
- The general presale phase ends in Q4, 2022
- TAMA’s beta presale price is just 1c (ie. $0.01): $100 buys 10,000 TAMA
- There has been no vesting period for buyers earlier on, which means that investors do not have to face coins being dumped as soon as TAMA hits the centralized crypto exchanges in Q4 2022
Tamadoge – High Security
- Anti-rug pull measures are in place, with the Tamadoge platform KYC’d by Coinsniper
- Tamadoge smart contracts are audited by Solid Proof
| Min Investment | 1,000 TAMA (∼$10+ gas fee) |
| Max Investment | NA |
| Purchase Methods | ETH or USDT now; fiat currency soon |
| Blockchain | Ethereum |
| Beta Sale Ends | 2nd September 2022 |
| Presale Ends | Q4 2022 |
How to Buy Tamadoge (TAMA) – Detailed Tutorial
Investors figuring out how to buy MonaCoin can rest assured that MONA is available at many centralized exchanges, including Bittrex reviewed above.
TAMA, however, is different. The Tamadoge coin is currently in its Beta presale phase. This is exciting news for investors interested in getting in earlier with the most promising cryptos. TAMA is not available on decentralized or centralized exchanges yet. But it is available direct from the Tamadoge online platform.
Buying TAMA centers on five simple steps:
Step 1 – Set Up a Crypto Wallet
MetaMask wallet is a good wallet to use for buying TAMA as it is configurable for all sorts of crypto – including brand-new crypto with new contract addresses.
- Go to the MetaMask website
- Press ‘Download’
- Follow the instructions onscreen
Step 2 – Purchase Ethereum (ETH) or Tether (USDT)
Once TAMA is launched on centralized exchanges in Q4 2022, investors and gamers will be able to buy it using fiat currency on the Tamadoge platform. Until then, TAMA tokens can be bought using heavyweight crypto Ethereum or Tether.
Tamadoge recommends that users have a minimum of $15 of either crypto in their wallet to purchase TAMA.
There are many ways to buy Ethereum or USDT. Helpfully, investors can buy Ethereum on the Tamadoge presale platform via third-party supplier Transak with credit/debit card.
Otherwise, Metamask users can buy Ethereum from within the wallet from a range of third-party providers, or import it in from elsewhere.
Step 3 – Link Wallet to the Tamadoge Presale Platform
- Visit Tamadoge’s website
- Click ‘Connect Wallet’
- Choose a wallet provider
- Follow instructions onscreen
Step 4 – Purchase Tamadoge (TAMA)
- Enter how many TAMAs are desired. A minimum transaction of 1,000 TAMA applies
- $100 buys 10,000 TAMA
- Depending on which crypto a user has bought to trade with, click ‘Convert ETH’ or ‘Convert USDT’
- Confirm the transaction
Step 5 – Claim Tamadoge (TAMA)
Once the Tamadoge presale ends in Q4 2022, investors can receive their TAMA:
- Head to the Tamadoge website and click ‘Claim’
MetaMask wallet owners can program their wallet to find their TAMA immediately using the following contract information:
Address: 0x12b6893cE26Ea6341919FE289212ef77e51688c8
Decimals: 18
Token symbol: TAMA
Conclusion
We have aimed to help the investor figure out how to buy MONA by reviewing a key broker that sells it: Bittrex. Bittrex is one of many centralized exchanges that offer MONA as part of trading pairs. Generally MONA is not featured as an instant buy by exchanges.
As a more exciting alternative to MonaCoin, we have drawn attention to Tamadoge’s TAMA, the meme coin with utility tipped to be the next Dogecoin or Shiba Inu. This doggy-themed crypto is aiming to fuse the best bits of virtual pets, NFTs and play-to-earn gaming in a fun and accessible ecosystem.
Alongside the new GameFi coin IBAT from Battle Infinity and LBLOCK from NFT gaming platform Lucky Block, TAMA is at its exciting pre-launch (beta) phase right now. MonaCoin, by contrast, has been on the market for 8 years.
With over 20,000 cryptos to choose from, investigating how to buy MonaCoin or any other crypto is bound to be intimidating for the beginner. We recommend that investors should never spend money on crypto they cannot afford to lose as well as balance crypto investments with lower-risk assets like stocks and ETFs.
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption
FAQs on How to Buy Monacoin
How to buy MONA crypto?
What is MonaCoin used for?
How do I invest in MonaCoin?
When was MonaCoin created?
This article was written for Business 2 Community by J Thompson.
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