Several Japanese investors are interested in Monacoin because sometimes the MONA price goes up regardless of the Bitcoin trend.

Japanese investors send cryptocurrencies to the exchange either for taking profits or cutting losses. During the coronavirus lockdown, it was seen that Japanese investors increased their BTC, ETH, and MONA holdings to take profits or cut loss.

Monacoin, is the indigenous cryptocurrency from Japan.  It started off as a joke in 2013 and has become a commodity in the recent years and it is worth investing in it.  The value like other cryptocurrencies is subject to massive fluctuations.

Monacoin was introduced by an individual, male or female, under the name “Mr. Watanabe.” The actual name is not revealed by the creator. Originally it was described as a game currency similar to the coins used in fantasy video games. The coin was not originally created to be a cryptocurrency.

Monacoin is based on the Litecoin Technology sustained by a volunteer network of developers and the users which has improved over time.  They have made it very fast to send the currency.  The Monacoin community is yet to evolve to be a highly organized network and they are to-date a grassroots community.

Maheen Hernandez, writer at The Currency Analytics opined:  “Monacoin (MONA) is hailed high in Japan for the “Safe and made in Japan” policy.”  

The international usage of Mona Coin is limited; however, it does have a huge user base in Japan. In Japan the MONA is here to stay and some analysts have expressed that the language barrier has prevented it from spreading to other parts of the world.

Monacoin (MONA) and Japan

Monacoin is easy to use in Japan for those who are willing to shop online or are a cryptocurrency user. 

Crypto Eri Tweeted:  “ig Love for Mona Coin in Japan, the cat meme – quite comparable to #DOGE coin. Crypto assets for physical transactions in March became available. Look at Mona coin vs ETH! Monacoin (#MONA) 359.6 Billion yen Ethereum (#ETH) 26.89 Billion yen (Toto, we’re not in Kansas anymore)”

Though not widely used in the cryptocurrency space outside Japan, this crypto is worth for those who are interested to know about different types of cryptos in existence.  One thing important to note is that despite being confined to local usage a lot, the people who use it trust it.  They are able to make good use of the coin locally within their geographical location.  This is a good start for a digital crypto.