What is Mina Crypto ?
Mina Crypto is a so-called succinct blockchain that aims to make crypto more accessible by only ever operating at 22 kilobytes in size, and MINA is its native token. It was launched in 2021, after a fair bid with investors.The Mina Protocol coin is relatively new. Mina Crypto requires 15 network confirmations to validate one transaction.
1. How Mina Crypto Works ?
Mina is a layer one protocol designed to deliver on the original promise of blockchain — true decentralization, scale and security. According to mina coinmarket capture the state of the entire blockchain as a lightweight snapshot and send that around — instead of the chain itself. It’s like sending your friend a postcard of an elephant, instead of a massive live animal. When the next block in the network is created, it takes a snapshot of itself — with the snapshot of the previous state of the mina blockchain as the background. The mina blockchain will in turn be used as the backdrop for the next block, and so on and so on. Rather amazingly, while it can contain proof of an infinite amount of information, the snapshot always remains the same size.
2. Nomenclature and Denomination
Nomenclature and Denomination Individual units of the currency are called mina. The initial supply of Mina is 1,000,000,000. Each mina is divisible into 1 billion units (nanomina). Intermediary denominations of the currency use standard metric prefixes: 1. 1 = 1 mina 2. 0.01 = 1 centimina (cent) 3. 10−6 = 1 micromina.
The Mina network enables an uncapped number of block producers via proof-of-stake consensus. A uniquely decentralized blockchain, Mina blockchain gets even more secure and resilient as it grows.
3. Mina Price Prediction
Mina cryptocurrency launched in the early summer of 2021 and, at the start of trading on 1 June, was worth $9.90, before going up by a cent to reach an intraday and all-time high of $9.91. Unfortunately for early investors, this launch price was seen by the market as overvaluing the coin and it soon fell hard to an intraday low of $2.76 before recovering to a mark of $3.24, an in-day drop of around two-thirds.
The mina coinlist price stabilised at somewhere between $2 and $3 for the next few weeks but, with the cryptocurrency market going through a notably bearish period, the price went down, and by the end of the month MINA was trading below $2, closing June at $1.52 – a fall of nearly 85% from the start of the month.
September Mina Coinlist Price
In early September 2021, Mina cryptocurrency kept growing, with the coin reaching a monthly high of $6.48 on 14 September. There was, however, a fall in the second half, and the coin closed the month at $4.07. This still represented a rise of just over 13% from the end of August
October Mina Coinlist Price
In October, Mina cryptocurrency price remained in the $4 to $5 mark, apart from a brief period in 26 October when it reached $5.33. The direction of travel was, overall, upwards and the end of October saw a month-on-month rise of just under 10% at $4.45.
November Coinlist Price
November was another relatively positive period for Mina blockchain with the coin’s final price coming in at $4.55, a rise of around 2.25%. In December, however, mina crypto was hit by uncertainty in the cryptocurrency market, and by 21 December it was trading at around $3.20.
4. Mina Investors and Valuation
The Mina ecosystem raised $92m in a token sale co-led by FTX Ventures and The Three Arrows Capital on 17 March. The coin closed that day at $2.14 and saw a steady uptrend from that price point over the following weeks.
In a surprise listing on 23 March, US-based cryptocurrency exchange Coinbase Pro announced that Mina Protocol (MINA) would trade as a pair with Tether (USDT) once appropriate liquidity conditions are met. The coin rallied to highs of $3.50 on 5 April, but the price has since retreated.
Following a market-wide crash, Mina cryptocurrency hit an all-time low on 12 May, and the token was valued at under $0.83. Despite recovering slightly, there was another market crash approximately four weeks later which saw the total value of the crypto market sink below $1trn. New all-time lows were reached in June. On 13 June, the token was trading at under $0.57
5. Mina Cryptocurrency (A future multibagger ?)
The project has come a long way since 2017. According to coinmarketcap mina is now stewarded by the Mina Foundation, growing its community and ecosystem worldwide. Several testnets have been conducted, and the network has launched successfully on mainnet as of March 2021.
While there are still many challenges, Mina is the first project leveraging recursive zero knowledge proofs to enable the world’s lightest, most accessible blockchain.
Buy Mina Crypto Online
There are many Crypto Exchanges to buy mina cryptocurrency but I prefer coinbase is the best to offer a great place and hassle free transaction to carry out the process smoothly . Follow these steps to buy mina crypto .
|Create a Coinbase account||Sign up in Coinbase and start the sign up process. You will need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.|
|Add a payment method||Tap on the payment method box and connect a payment method. You can use a bank account, debit card or initiate a wire.|
|Start a trade||On Coinbase.com, select Buy & Sell. On Coinbase mobile app, tap the ( + ) Buy on the Home tab.|
|Select Mina from list of assets||On Coinbase.com, click the Buy panel to search and select Mina. On Coinbase mobile app, search for Mina by typing “Mina” into the search bar. When you see Mina appear in the results, tap it to open up the purchase screen.|
|Enter the amount you want to buy||Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a Mina amount. You can tap the arrow buttons to the right of the amount of money you want to spend to switch the number to the equivalent amount of Mina|
|Finalize your purchase of Mina||Tap “Preview buy” when ready. You’ll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase by clicking “Buy now”.|
|Done||Once the order processes, you’ll be taken to the confirmation screen. That’s it, you’ve bought Mina.|