Last update: Jun 6, 2022

How to Buy Mina (MINA)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Mina. Depending on your country, you’ll have different crypto exchanges to choose from.

In this guide, we not only cover the top 3 global crypto exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Mina

How to Buy Mina – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Mina of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy Mina

Now that you have what you need to buy Mina, head over to the market or buy section of the crypto exchange and buy some MINA.

If the crypto exchange doesn’t have any Mina on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Mina first), and trade your Ethereum for Mina.

Where to Buy Mina (MINA)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Mina

  1. Sign into the exchange where you bought Mina.
  2. Move your Mina to the right place on the crypto exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Mina.

 

Crypto trading

How to Buy Mina (MINA) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Mina in Australia, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Mina if it’s available. If the exchange doesn’t have Mina. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Mina), and trade your ETH for Mina.

Alternatively, if you want to know more about the exchanges we recommend, look at our list of the bitcoin exchanges in Australia.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Mina (MINA) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Mina in Canada, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Mina if it’s available. If the exchange doesn’t have Mina. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Mina), and trade your ETH for Mina.

It’s also possible to check out our comparison of the top rated Canadian crypto exchanges for those curious to know more about which exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Mina (MINA) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Mina in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Mina if it’s available. If the exchange doesn’t have Mina. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Mina), and trade your ETH for Mina.

You can also take a look at our analysis of the best places to buy crypto in the UK If you’re interested in learning more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Mina? MINA Rundown

Mina Protocol is a minimalist "succinct" blockchain that reduces computational requirements to make DApps run more efficiently. Mina is the world's lightest and most popular blockchain. Its size was designed to be stable despite growing usage. It is also balanced in terms security and decentralization. In October 2020, the project was renamed from Coda Protocol to Mina.

Mina's network is only 22KB in size, which is tiny compared to Bitcoin’s 300 GB blockchain.

Mina is currently working to create a distributed payment system that allows users to verify the platform natively from the genesis block. This is a "succinct" blockchain, according to the technical whitepaper.

Zero-Knowledge Success Non-Interactive Arguments of Knowledge (zkSNARKs) are used in the protocol. These cryptographic proofs allow someone to authenticate information and not reveal it. In a large network, however, it can be difficult to allow a user to trace back the platform to its genesis blocks. Mina computes incrementally SNARKS by focusing only on the most recent blocks. This means that end-users can check that zk SNARK-compressed proof instead of looking at an entire block's transaction history.

MINA, Mina protocol's native currency, is at the core of Mina protocol. It functions as both a utility coin, and as an exchange medium.

Mina is very similar to Bitcoin in that it processes transactions the same way as Bitcoin. However, Mina also uses the Ethereum account model.

This is the main difference between Bitcoin and Ethereum. The state of Bitcoin's blockchain has a list of unspent coins. Ethereum's state consists of account balances.

Mina uses a prover (or even snarker, depending on your preference), to make sure that each block is committed to the state.

Mina uses the Ouroboros Samasika PoS mechanism, which is a type of PoS system specifically designed for succinct and decentralized networks. It provides bootstrapping starting from a genesis block.

Two major functions are found in succinct blockchains: verify and update. The update function works with consensus and the chain summary, while verification touches on consensus, blocks and blockchain summary.

The parallel scan state is used to maximize transaction processing speed. It works by grouping unproven block and assigning it to parallel provers.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.