Is MonaCoin(MONA) a Scam? – Detailed analysis and Review in 2022 | Cryptonks

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Today we are going to review MonaCoin and see whether it’s a scam or not and is it even worth investing in MonaCoin. This article is based on fundamentals and price action analyis.

Without a doubt, a lot of earning opportunities in Crypto Market with equal amount of scammers and scam coins to scam traders and investors in crypto space.

Let’s get started

What’s MonaCoin Basically

MonaCoin (MONA) is a peer-to-peer (p2p) payment network and a decentralized cryptocurrency that is open-source and free to use.

MonaCoin is a cryptocurrency that operates on a completely decentralized payment network. It is not owned by a single individual, as is the case with other decentralized projects, but by all of its users.

MonaCoin is a hard fork of Litecoin that was created in January 2014 without the use of a pre-mine method to ensure that the coin’s security.

It is based on a hard fork of the cryptocurrency Litecoin and is powered by an algorithm known as Lyra2RE (v2).

Furthermore, because of the platform’s peer-to-peer technology, it is completely autonomous and self-governing. Users of the system work together to create new currencies as a reward for their efforts in mining.


Summary

MonaCoin(MONA) Is basically an old fashioned Crypto started back in december 2013 and it is marketed as the first crypto made in Japan, but the concept of this crypto is really boring and does not make any sense in 2022 to be honest.


Fundamentals – Founders, Team and Roadmap

Mr. Wantanabe, a user who goes by the moniker ‘Mr. Wantanabe,’ was the one who came up with the idea for the project in secret. As of October 2021, no one had been able to identify the members of the development team.

There is no information available about the founder, nor is there any information available on the number of people who took part.

The identities, photos, and social media sites of the MonaCoin development team are not publicly visible.

MonaCoin(MONA) Roadmap

MonaCoin(MONA) has made several application for the usebase and fan following of MonaCoin(MONA)
Honestly, there is no new upgrades and developments which makes MonaCoin(MONA) Useful


Summary

MonaCoin(MONA) team is mostly anonymous and without any new developments and upgrades, there are very less chance of this cryptocurrency of gaining attention. The future does not look very good for MonaCoin(MONA) and investing in this coin is pointless


MonaCoin(MONA) Tokenomics

Currently trading at around 0.98$ and has been trading at this price level for a while, after 2017 bullrun, MonaCoin(MONA) haven’t performed very well, not even in bullrun 2021. It’s Available on Bittrex to buy.

Conclusion

MonaCoin(MONA) is absolutely not a cryptocurrency anyone should be looking to invest in for any term – short or long. While, MonaCoin(MONA) is mostly a dead cryptocurrency lying around in the crypto market and should be avoided at all costs.


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