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If you’re interested in MintCoin, a proof-of-stake altcoin that some people believe will become a store of value, here’s what you need to know.
There are more than 11,000 cryptocurrencies available right now, and many of them will never be worth more than $1. Some altcoins, though, are of interest to traders because their price volatility allows them to make profits when making trades.
Other altcoins are held for their potential to increase in value. MintCoin is one altcoin that some cryptocurrency enthusiasts think has the potential to be a store of value at some point. A store of value is an asset that maintains its value, rather than losing it over time.
If you’re interested in MintCoin, here’s what you need to know about one of the more obscure altcoins out there.
MintCoin basics
Name
MintCoin
Ticker symbol
MINT
Year established
2014
Blockchain
Ethereum
Total circulating supply
1.43 billion (as of Sept. 8, 2021)
What it’s best for…
Speculation on proof-of-stake and store of value
What is MintCoin?
MintCoin (MINT) is an open-source cryptocurrency that went public in 2014 when it shifted from a proof-of-work (POW) concept to a proof-of-stake (POS) concept. MintCoin used proof-of-work in its initial stages, but has since used proof-of-stake to verify its transactions. In a proof-of-stake approach, transactions are verified by those who own the coin.
MintCoin was established to provide an alternative to POW, as POS coins are often considered more energy efficient and eco-friendly. This is because proof-of-stake takes less electricity and computing power to verify transactions compared with POW mining operations.
The coin is community run, and there isn’t much information on who, specifically, founded it. MintCoin’s issuance blockchain is Ethereum. The eventual goal is to provide a store of value outside centralized government entities and banks. Currently, those with staked MintCoins receive a 5% return.
CoinMarketCap, an industry leader in the crypto space, currently ranks MintCoin at 5,461 based on market cap (as of Sep. 8, 2021). It can be difficult to find MintCoin on an exchange, but it does have its own MintCoin wallet available at MintCoinOfficial.eu. It’s also possible to purchase MintCoin from other individuals and on some exchanges.
How much does MintCoin cost?
MintCoin has never been worth even 1 cent when converted to U.S. dollars (USD). As of Sept. 8, 2021, MINT price is listed at $0.000080 on CoinRanking.com, a site that tracks prices of various cryptocurrencies. The all-time high was reached on March 15, 2021, when the MintCoin price hit $0.00868.
It has a low trading volume, and its market cap is $129,851 (as of Sept. 8, 2021). With a 24h volume of trading that is quite low, the potential lack of liquidity of this coin would be something to consider if you plan on purchasing it.
How to buy MintCoin
MintCoin is not available on major exchanges like Coinbase and Gemini. Instead, you’re more likely to find it on an exchange like SouthXchange or Altilly.
In order to buy and store MintCoin, as with how to buy cryptocurrency in general, you need a compatible wallet. MintCoin offers its own wallet, which you can download on GitHub. It’s important to make sure you’re downloading the correct wallet, because the most recent release is meant for those who wish to build. It’s a source-only release, which provides updates to source code access. If you just want to store MintCoin, you should focus on the 2.1.1 release.
When you buy MintCoin, you can use a fiat credit card to make your purchase, and then have the coin sent to your wallet address. It’s also possible to make peer-to-peer transactions. You can also use another cryptocurrency, such as Bitcoin (BTC), Litecoin (LTC), or Ethereum (ETH) to buy MNT.
FAQs about MintCoin
Is MintCoin a good investment?
Whether MintCoin is a good investment for you depends on your goals and strategies. When learning how to invest money, you should always consider your own financial situation and goals. MintCoin is an altcoin with a low U.S. dollar value. However, because one of the goals is to become a store of value, it does offer a 5% return (in MintCoin) to those who stake their coins. For many, though, MintCoin might not be a practical investment.
Is MintCoin a cryptocurrency?
MintCoin is a cryptocurrency that can be used in transactions. It is on the blockchain and exists as a digital asset.
Bottom line
MintCoin is an altcoin that was designed to highlight the proof-of-stake model and provide a store of value. It’s difficult to buy MintCoin on the major exchanges, but you can download a wallet and buy it from certain exchanges, as well as receive it in peer-to-peer transactions.
Before you buy MintCoin, it’s important to carefully consider your long-term goals and determine whether MintCoin is the right choice for you. If you’re looking for easier cryptos to purchase, you can try looking for a different token on one of the best cryptocurrency exchanges.
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