MonaCoin is a cryptocurrency that was created in 2014. It is based on the Litecoin codebase and uses the Scrypt algorithm.
MonaCoin has a block time of 60 seconds and a total supply of 105 million coins. MonaCoin is mined using a Proof-of-Work (PoW) consensus mechanism and has a block reward of 25 coins.
MonaCoin is listed on a number of exchanges including Bittrex, Upbit, and YoBit. In addition, MonaCoin can be traded on decentralized exchanges such as Bisq and EtherDelta.
NOTE: Warning: Coinbase is a legitimate cryptocurrency exchange, however it is important to understand that ‘Mona’ is not a cryptocurrency and cannot be exchanged on Coinbase. Investing in cryptocurrencies carries a degree of risk, so it is important to always carry out your own research and due diligence before investing in any asset.
MonaCoin has been gaining traction in recent months due to its use case as a tipping currency on the popular Japanese social media platform, Twitter. The #MonaTips hashtag has been used over 10,000 times since January 2019.
Currently, there is no way to buy MonaCoin directly with fiat currency. However, it can be purchased with Bitcoin or Ethereum on a number of exchanges.
Once purchased, MonaCoin can be stored on a variety of wallets including the official MonaCoin Wallet, Electrum-MONA, andcoinomi-monacoin.
As MonaCoin gains more adoption, it is likely that it will be listed on more exchanges and supported by more wallets. Only time will tell if MonaCoin will become as widely used as other cryptocurrencies such as Bitcoin or Ethereum but it certainly has the potential to do so.
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