Mina: Crypto as light as air?
When you type in Google the search “Mina” you will first come across an Italian singer of the same name and a Japanese celebrity from a K-Pop girl group. Nothing to do with our subject, which extends to more… Financial genres.
The creators of Mina?
Mina Protocol comes from the O(1) Labs team created by Evan Shapiro and Izaak Meckler in 2017 with the aim of giving Internet users control over their virtual lives.
Since that day, the Mina Protocol site exists to honestly inform newcomers, as well as connoisseurs, about the progress of crypto. It includes additional information on Mina, such as the possibility of accessing Mina from other blockchains.
Of course, the site is often updated with articles concerning the progress of Mina Protocol.
Mina crypto
Evan Shapiro and Izaak Meckler, creator of the O(1) Labs group and de facto, Mina Protocol
Mina, what is the project?
MIna, it wants to be useful to you, while not slowing you down. Mina is the Blockchain that wants the best for you, both for you and for our precious little blue planet. Unlike many blockchains whose weight remains one of the reasons why skeptics who hesitate to get started…
Mina destroys that all by itself.
Unlike Blockchains and cryptos that weigh the weight of fifteen Steam games (and again, we’re being nice), Mina weighs only a handful of KB, 22KB to be precise.
Mina, it builds the decentralized privatization and security layer of Web3 (created by Gavin Wood aka the father of Etherum), or also called the internet of the future. This, thanks to the Blockchain.
And it seems determined to do so! Having raised 92 billion in funds to conquer Web3, Mina Protocol seems determined to make a place for itself among the big players thanks to its rapidly developing technology, zero-knowledge-proof. (hermetic to a level of knowledge rising to 0).
We owe this to FX ventures, which needs no introduction in terms of “helping hand” for blockchains and various cryptocurrencies. However, other big names in investors make their cameos on the list.
Investors such as blockchain.com, Alan Howard (the father of Hedge Fund), Amber Group, Brevan Howard, Circle Ventures, Finality Capital Partners and Pantera.
As is often the case, developers allow you to invest funds in their tokens for prices that make you smile, which allows you to both grow your project and let investors make their market capitalization without really worrying about where their money ends up.
But what is a blockchain?
Blockchain, already 14 years old this year, describes itself as a technology for storing and transmitting information. Its goal? Aimed at security and transparency, in particular thanks to its absence of a central control body.
To illustrate this more simply, where Google collects your data and does basically what they want with it… Blockchain, no.
As a technology based on contribution to this blockchain, Mina helps among other things to preserve your privacy, certifies the anonymity of transactions on trading platforms and ensures general security.
In addition, the Mina project persists in the aim of remaining lightweight, which therefore means that it will cost less.
If we start from this idea, cheaper will mean more buyers, and more buyers, a gain in popularity that will gild this crypto and will certainly end up reaping joys.
Web3 Development
Mina uses zero-knowledge-proof technology and is a Layer 1 blockchain. To put it simply, its mission is to protect your data and other sensitive assets through a decentralized network.
This technique is based on the ZK-rollups of the Ethereum (ETH) blockchain. These smart contracts based on this technology are nicknamed “zKApps” for those related to Mina.
Which, you may have guessed, is short for “Zero-Knowledge Apps”.
“The Mina blockchain architecture allows the protocol to reach a new level of decentralization by allowing the general public to easily participate in the network. This combined with its native ability to ensure data privacy makes it a unique Layer 1 with massive potential to shape the future of Web 3.0,” says Brian Lee, Investment Partner at FTX Ventures.
Mina Price
It is March 24th when this article is written, which means that the cryptographic information of the Mina price may change in the coming days, or even by the time you read this.
What impact on this virtual economy? To illustrate our point, take a look at the cryptography below.
Mina Crypto
The average of the current price of Mina is estimated at around 2.39 EUR, with a historical ceiling (the most expensive price that the currency has been able to reach) amounting to 9.00 EUR. Below the 10 EUR mark. Which is still very cheap for a cryptocurrency.
However, Mina seems to have stagnated since May 2021, when its peak reached an amount of 94.40 EUR. Since then, the curve has been decreasing and remains on an almost straight list with a few speed bumps that shake its cryptograph.
Unfortunately, Mina does not have enough data to be analyzed in terms of exchange activity, duration of possession, or popularity.
At least according to the Coinbase website.
We note however that the price of Mina has oscillated on a ceiling of approximately 24.0 EUR in the 24 hours, which remains a nice sum for a blockchain that does not necessarily seem to shake up the crowds.
This drastically changes from the usual few euros, and potentially directs it out of the waters of the unknown, which would be a great step forward for the Mina Protocol project.
How to affect Mina’s price
If we assume that Mina’s price fluctuates very little at the beginning of 2022, we must still expect that this could change overnight.
According to our observations, the fluctuation in Mina’s weight would be directly related to its price. Indeed, the more Mina weighs, the more it will cost, which is not to the advantage of its concept.
At the same time, we could also think of a gain in mass in terms of price, compared to its utilities. If Mina Protocol acquires other tasks than what it already performs, it could then be that its inflation occurs.
the price of gas with Mina
We talk about it in other cryptocurrency sheets, but the price of gas has the power to turn the tide for Mina: indeed, all the more so with the current conflict in Ukraine and Vladimir Putin who wants to charge for his Russian gas (which heats a large part of Europe).
De facto, we then ask ourselves the question: will the production of Mina Protocol tokens cost more? If this curiosity works for all other cryptocurrencies and not just Mina Protocol, we must admit that this could be a financial collapse if gas production falls too much.
For Europeans at least.
How much could we estimate inflation? Hard to say, it would depend on the agreements between countries, on the evolution of the situation, if it turns sour, Mina Protocol could simply disappear into the meanders of forgotten cryptocurrencies.
In addition, due to its ecological impact linked to its weight, Mina could make the most skeptical of an eco-friendly crypto-culture lose hope, which remains the main iron argument of those who totally refute the right of existence of cryptocurrencies and other internet currencies.
How to Mining Mina
Mining Mina Protocol is no more difficult than any other cryptocurrency, and has the same means. To do so? Own one or more wallets, create an account on one or more of the platforms we have mentioned, buy one or more tokens after adding your bank account, then accept the validation of your transactions.
Afterwards, all you have to do is start the exchange or continue to see the value of your token grow.
Where to buy Mina
While several names resonate among the crypto-enthusiastic community, we will only recommend those that seem relevant to us. The best known? Binance.
Binance is often talked about as the home of Bitcoin, but it owns several of the most famous virtual currencies. The list of cryptocurrencies remains broad and non-exhaustive, but we notably cite Ether (Etherum), BTC (Bitcoin) or Doge (dogecoin).
Who says big platform, says large-scale trade traffic (exchange). In case you want to buy, but not necessarily on Binance, you can also get Mina Protocol on:
Kraken
Gate.io
CoinEx
Digifinex
HitBTC
Which wallet for Mina?
If you get the Mina cryptocurrency, you will automatically need an electronic wallet if it is not already done. EToro still holds its first place in terms of crypto currency storage.
If you are interested, Coinaute has an article dedicated to the leader in online trading.
Of course, naming just one of the many exchange platforms would not be very professional, and our team’s mantra is always to offer you the best quality.
What other choices for secure and efficient financial transactions to exchange a few euros for Mina Protocol?
Coinbase (good for beginners)
Huobi (very reliable)
Kraken (good market capitalization at low fees)
Binance (buy directly and exchange)
Mycelium (excellent for phones)
Ledger Nano X (works offline)
Exodus (best Wallet for PC)
Crypto.com (specialized in DeFi)
READ ALSO: Guide to get started in cryptocurrency investments.
Step-by-step tutorial to buy Mina
When you’re new to cryptocurrency, whether you’re curious or just don’t know anything about it, a tutorial will always be appreciated. Coinaute offers you a step-by-step guide to acquiring Mina tokens.
For this exercise, we will use eToro’s rival: Binance.
1. Creating an account on Binance (BNC).
Even if it seems obvious, creating it remains the first step towards a transaction. If you already have one, there is no point in following this first step. Go to number two.
For those who are still at the beginning, click on the Binance account registration link and then fill in the information requested in the form. Once you have agreed to comply with the site’s terms of use (which we recommend you read), all you have to do is confirm your account via the link that Binance will have previously sent to your email inbox.
Although I would have loved to tell you that all that remains is to buy, this is not the case. You will still have to complete a few steps before you can access the tokens.
As you would expect, Binance is a secure platform. Consequently, it uses identity verification technology, which is mandatory for the number of transactions carried out on the site.
After all, no one wants money laundering.
Where this would scare some, the identity verification system remains relatively simple: it is only a short questionnaire about yourself. Once completed and submitted, your account will normally be confirmed and you will then be able to use the broker and obtain your tokens for Mina Protocol, or other virtual currencies.
2. Funding
To open a virtual wallet at Binance, you will first have to make a good faith deposit of funds (and to confirm that you are not a robot, of course).
Don’t panic, you won’t get robbed.
To do this, several financial means are at your disposal:
Transfers (via Binance’s partner platform, Advcash)
Bank card
P2P bank transfer
Once you have completed the additional information request again, you have officially finished creating your Binance account, as well as your wallet.
3. Convert your euros to USD (more precisely USDT)
Last straight before buying: convert your euros to USDT. Since Mina does not yet authorize trading. Indeed, Binance does not yet seem to perform currency exchange into EUR for Mina.
USDT is simply the stable currency of the blockchain ecosystem, it is backed by the USD that we know (US dollar) therefore 1 USDT = 1 USD. As simple as saying hello.
If you are afraid of miscalculating, do not worry. You will be able to buy it. Binance has thought of this for you, and the platform has a “Trade” option that also allows you to convert.
To do this:
Choose the currency you want to change (in our case, we will take EUR)
Select the desired currency
Enter the amount to convert
And there you have it!
BInance will ask you if the amount is suitable and if it is, you will just have to continue your epic among cryptographic and other trades…
4. Purchase of Mina tokens
Ah, the interesting part! Not the least complicated, let’s admit it, but interesting. Especially the one we want, in reality. But how do you buy Mina Protocol? Now that your wallet has the USDT needed to make the purchase, all you have to do is take the plunge.
First of all, you will have to retrace your steps. Click on the back arrow and you will land on the trader option window. If you wish, your mobile phone will definitely be useful for this part, since there is the application of the same name.
Nothing very different.
A wide choice of cryptocurrencies that sometimes catch the eye. In particular the famous bitcoins. However, what interests us is our little Mina.
Click on “Markets”. There, you will really enter the world of traders.
Don’t waste time looking for Mina, instead do a search in the bar with the magnifying glass just to the right, and you will automatically find it. Sort by quickly clicking on the spot market, then finally USDT.
You now have a small exchange rate box at the bottom of your screen. All you have to do is write your amount in it, in order to start exchanging your virtual currency for another. This for a few US dollars. (Well, euros, but you get the idea.)
However, one last obstacle stands in your way: the choice of the purchase order. Limit, Market, or Stop-Limit? You are the masters of the decision. We are only here to help you. If the volatility (inflation and deflation) of this currency scares you, Limit would suit you.
For your information, Limit protects you from your fears. It allows you to set a price on the purchase of a Mina token.
If you simply buy Mina Protocol currencies, you may be surprised to see that they will cost you a little more than the expected price. Don’t worry, the buy order takes a few seconds to be filled.
Once the buy order is set up, the amount written and your checking eye has gone around, all you have to do is validate the transactions.
*Remember that buying AND selling is an option on Binance.
Predictions for Mina
Predicting for Mina Protocol is certainly not an easy task. Especially due to compromising factors such as gas price, weight, lack of popularity,
However, we can always try the exercise, even if everything should be taken with a pinch of salt. Given this instability, the presence of which has been repeated throughout the article.
For practical reasons, the table below only gives active prices in US dollars. Also note that these are expert estimates, but everything is likely to change overnight.
Year Minimum price Average price Maximum price
2022 2.91 3.00 3.34
2023 4.20 4.35 5.00
2024 6.03 6.20 7.38
2025 8.79 9.10 10.79
2026 12.39 12.85 15.31
2027 17.49 18.13 21.90
2028 25.88 26.60 30.23
2029 36.85 37.91 44.15
2030 53.18 55.08 65.31
By 2030, Mina would have very good days to sink (but with a price to match its value.)
Today, Mina’s market capitalization stands at $1,111,993,178 for a total supply of $824,104,972. A very good score for a cryptocurrency that does not even overshadow Bitcoin or Ethereum.
But why could Mina Protocol reach such sums?
Well, the first cause that one might think of would be the deterioration of the climate situation. WHO experts have warned several times of multiple disasters and situations where the cost of life could not only increase, but also be lost because of them.
As a result, money would gain even more in value, and at present, the predictions of cryptocurrencies remain unclear, particularly due to the urgent situation in which we find ourselves.
What popularity for Mina
If Mina Protocol seems promising, the Internet does not yet devote its full interest to it, and this for good reason: it is not talked about much. Its popularity does not shine under an adjacent sun, but given the current financial and geopolitical situation, a leap among the big ones is not excluded.
Just like its sinking into the abyss which could make it die in the egg before knowing glory. This, in particular due to the price of gas mentioned above in our article. If Europe can no longer heat itself in its entirety, it will be necessary to review the priorities on who deserves what in relation to gas.
Coinaute’s opinion
In addition to her name, which she openly admits made your editor smile, Mina shines brighter than she looks. Her weight glorifies her among the candidates who could climb onto the podium of currencies deserving the curiosity of Internet users.
The fact that Mina weighs so little pushes the question of ecology to the forefront once again: will cryptocurrency and blockchain remain or are they really factors in the deterioration of our climate? Mina has the power to rebalance this scale.
It still needs to decide to stay in this perspective. Many cryptos are waiting to be discovered and deciphered in order to better understand their issues, and this is exactly the objective of our website: to inform you honestly and objectively. We talk about the negative as well as the positive, with the aim of, perhaps, helping you to orient yourself.
The fact remains that it will probably take a little time before it gains sufficient scale. The fact that, even if its value increases, its value will remain in a much smaller exchange rate range than some industry giants.
This idea of virtual money now extends to all budgets. Expensive, medium, small… Whether you are beginners, familiar or emboldened with cryptocurrency, you will enjoy yourself among the little sisters of those that social networks love to talk about.
In any case, Coinaute has not finished telling you about the cryptocurrencies of the current market, and keeping you informed of the rise and fall of some on the web… And you, are you interested in acquiring Mina? What do you think of its weight? Do you think it could have a lasting and positive ecological impact on our planet?
As usual, we let you speak in the comments. Want to learn about other cryptos?
Our fact sheet on: Polkamon
Our fact sheet on: Monero
