MonaCoin (MONA) is an open source peer-to-peer payment network. It was thrust into the limelight when it was featured on WBS TV Network Tokyo, which reported a man purchasing a plot of land in Nagano with MonaCoin. The idea of MonaCoin was conceived from a Japan-based bulletin board called 2-Channel (2?????) by a user who goes by the handle of ‘Mr Watanabe’.
What is Monacoin?
Monacoin is a virtual currency designed for peer-to-peer digital transactions. Dubbed by its creators as “the first Japanese cryptocurrency,” the coin has become somewhat of Japan’s national alternative to Bitcoin or Litecoin.
Like its predecessors, the coin was created purely to serve as P2P electronic cash, a decentralized digital currency aimed at Japanese citizens. There are a few key differences that set it apart from the coins that came before it, and this guide is dedicated to drawing out these differences.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.