My Early Cryptocurrency Investment
As a newbie in the cryptocurrency, one of the first coins that I invested was Monacoin on 23 November 2017.
I installed Coinomi onto my mobile and I purchased this Japanese cryptocurrency called Monacoin.
Monacoin was created on 1st January 2014 that was a Peer-to-Peer payment system.
It was considered as the national cryptocurrency payment system that was accepted by shops in Japan online as well as offline.
Since it had real application, I figured it had potential for investment especially there was a guy in Japan who bought a land in Nagano using Monacoin then.
The price of Monacoin was $1.45 when I was preparing for this post.
Above was screenshot from coinmarketcap
Based on the screenshot below, I invested a total of US$121.86 on 23 Nov 2017.
The above screenshot was taken from my history of purchase in my Coinomi app.
Since I was a newbie so it was considered quite a sum for me especially I was in financial difficulty then.
I did make some money because of this coin as an early experience but I also lost money with other coins then.
Those who were investing in cryptocurrency would know that the price of cryptocurrency changes quite quickly.
This coin actually did reach a peak of $16.45 on 06 December 2017.
The above was screenshot from coingecko
I was looking at my mobile phone and I noticed that I did sold some of the coins on 06 December 2017 during its peak.
It was pretty cool to earn some money as a crypto newbie then.
It is currently still quite a nice coin for investment since it has practical use in Japan.
Just this year 2020, it managed to reach US$2.72 on 18 Feb 2020.
Above was screenshot from coinmarketcap
The current price is about half of US$2.72 actually.
It looks like Monacoin is still a nice investment.
We can also easily find a couple of videoclips explaining about this coin.
Below is one of them.
Video Source
Every investment will have certain risk so this post is just a short sharing of my investment experience as a crypto newbie.
A good research of the background of the coin before investing will certainly be really helpful.
Hope you enjoy reading this post about this Japanese coin that was way ahead in its practical use than many other ALT coins.
@fun2learn wow thats nice, hope its a good investment for you many people got duped by fake people in crypto world.
Thank you! I did lose in other investments actually. Monacoin was one of the profitable ones for me as a newbie.
Solid read.
Resteemed already. Upvote on the way :)
Thank you very much! Appreciate your support and positive comment greatly!
Thanks for sharing your experience with us @fun2learn
I've never heard about Monacoin and I've learned to avoid any crypto with "coin" in their name (most of it sound like a scam).
Do you still hold some Monacoins? Or did you sell all with some profit? :)
Upvoted already :)
Yours, Piotr
I have actually sold them all few years ago with profit actually.
Crypto world is occupied with lots of scam but I am happy you were able to make good investments and you were not being duped.