What are the formal channels for buying MONA coins? Detailed explanation of MONA coin purchase channels

Individuals seeking formal channels to purchase MONAcoins (MONA) can explore cryptocurrency exchanges such as Bittrex or OTC brokers like LocalBitcoins, depending on their preferred method of acquisition.

Oct 03, 2024 at 12:48 am

Formal Channels for Purchasing MONA Coins

MONA (MONAcoin) is a cryptocurrency based on Litecoin and was the first cryptocurrency to be created in Japan. It is currently available for purchase through several formal channels:

1. Cryptocurrency Exchanges

• Bittrex: A reputable and well-known cryptocurrency exchange that supports MONA trading pairs against BTC, USDT, and JPY.
• HitBTC: Another popular exchange that offers MONA trading pairs against BTC, USDT, and ETH.
• Zaif: A Japanese cryptocurrency exchange that specializes in trading MONA against JPY.
• bitFlyer: A leading Japanese cryptocurrency exchange that offers MONA trading against JPY.

2. Over-the-Counter (OTC) Brokers

• LocalBitcoins: A peer-to-peer marketplace where you can buy and sell MONA directly with other users.
• Paxful: Another peer-to-peer platform that facilitates MONA purchases using various payment methods.
• MoonPay: A third-party service that provides an easy way to purchase MONA using credit cards or debit cards.

3. Mining

• You can earn MONA coins by mining them, which involves using specialized hardware to solve complex mathematical problems. However, this process is generally not profitable for individual miners.

Steps for Purchasing MONA Coins:

Through a Cryptocurrency Exchange:

1. Create an account on the chosen cryptocurrency exchange.
2. Verify your identity by completing the required KYC (Know Your Customer) procedures.
3. Deposit funds into your exchange account using supported payment methods (e.g., bank transfer, credit card).
4. Use the deposited funds to buy MONA coins in the desired trading pair.
5. Withdraw your purchased MONA coins to a secure wallet.

Through an OTC Broker:

1. Create an account on the selected OTC broker.
2. Verify your identity and provide necessary financial information.
3. Post a buy order for MONA, specifying the amount and preferred payment method.
4. Connect with a seller who matches your request.
5. Complete the transaction and receive your purchased MONA coins.