How to buy MonaCoin (MONA) in Australia

A beginner's guide to buying and selling MONA in Australia.

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How to buy MonaCoin

Look for an exchange that supports both fiat and cryptocurrency to simplify buying MonaCoin.

  1. Open an account on an exchange that supports MONA.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy MonaCoin.
  3. Buy MonaCoin.
    Complete your MonaCoin purchase and then find the best wallet to store MONA.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is MonaCoin?

Though the boom of cryptocurrency was largely seen in the latter part of the 2010s, a number of older networks are still being developed and present viable solutions to the financial issues of society. MonaCoin is the first cryptocurrency developed and used in Japan, having been developed in 2013. Named after a meme, MonaCoin is a fork of the LiteCoin protocol and operates on a Proof-of-Work (PoW) consensus. It is frequently available for spending in Japan retail and e-commerce websites. The prime use case of MonaCoin is for microtransactions in online games and third party mobile applications. There is also a native infrastructure known as Monappy, where users can store their MonaCoins, purchase goods (such as Manga) and stream video games. In spite of its focus in Japan, MonaCoin is available globally. MONA is the native token of the MonaCoin network. It is used similarly to most other currencies – exchanged for goods and services, and can be mined.

MonaCoin (MONA) is in the top 1,000 cryptocurrencies in the world by market cap. The current price of MonaCoin is $1.56, which is -1.882% lower than yesterday. Prices have ranged between $1.6 and $1.54 over the past 24 hours. All prices are listed in US dollars and accurate as of September 20, 2021 09:09 UTC.

Where to buy MonaCoin

Find an exchange to buy, sell and trade MONA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

279
cryptocurrencies

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MonaCoin at a glance

Information last updated September 20, 2021 09:09 UTC.
Coin symbolMONA
Total MONA supply105,120,000
Current priceUS$1.56
All time highUS$16.45
All time high dateDecember 06, 2017

MonaCoin price performance over time

Historical prices compared with the price of US$1.56.

1 hour 0.14%
24 hours -1.88%
7 days 4.43%
14 days -4.03%
30 days 1.17%
60 days 30.86%
200 days -16.04%
1 year 20.22%

How to sell MonaCoin

You can cash out your MONA with the same exchange you bought it through:

  1. Sign in to the exchange you have MONA on.
    If you store your MonaCoin in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of MONA you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of MonaCoin.

What to consider when buying MonaCoin

Cryptocurrency can be a risky investment, so it’s good practice to evaluate the platform and purpose of the token.
  • Consensus mechanism. In the 2020s, most new cryptocurrencies have been moving away from Proof-of-Work (computer mining) mechanisms due to its negative impact on the environment. Bitcoin has famously come under the spotlight for this. As computer mining continues to get updated due to tightening regulations, how MonaCoin adapts their network may impact the price.
  • Use case. Although MonaCoin is available globally, its use case is mostly limited to Japanese products. Those that aren’t living in Japan (or planning to), or aren't consuming Japanese products, have no real use for MONA.
  • Competition. MONA’s point of difference is that it is heavily focussed on the Japan region, but beyond that, it doesn’t offer anything particularly unique. Its function is very similar to a lot of other PoW, older networks that have much greater exposure (BitCoin, LiteCoin etc.). Many other cryptocurrencies are also often used for mobile and online gaming.

Disclaimer: Cryptocurrencies, including MonaCoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MONA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the MonaCoin or any other cryptocurrency discussed.
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