With the rise of the metaverse, many crypto enthusiasts are excited to get a piece of digital action. These enthusiasts have lots of questions such as “How to buy Decentraland (MANA)” or “Where to buy Decentraland?” If you want to be a part of a thriving virtual reality through blockchain, you should read this article thoroughly. In this article, we will show you the basic steps of buying Decentraland (MANA) along with other useful information related to the token.
Decentraland (MANA) Buying Guide
Step 1: Find an Exchange That Supports Decentraland (MANA)
First, you need to create an account in an exchange that accepts Decentraland (MANA). Since MANA is quite popular, it is available on well-known exchanges and trading platforms.
Some of the exchanges that you can trust are Binance, Gate.io, and Coinbase. All of these exchanges are beginner-friendly, and they have reasonable transaction fees. Moreover, these exchanges contain helpful information about cryptocurrencies.
- 500+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.075%*-0.1%*
- Sign-up bonus: 10% reduced trading fees*
- Available in Europe, Asia, Oceania, Africa
- 150+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 1.49%*-3.99%*
- 10$ Sign up bonus
- Available in North America, South America, Europe, Asia, Oceania, Africa
- 1000+ Cryptocurrencies Available for Trade
- Fees (Maker/Taker) : 0.2%*-0.2%*
- Sign-up bonus : Up to $500 in USDT vouchers*
- Available in North America, South America, Europe, Asia, Oceania, Africa
Registering an exchange account won’t take too long. First, you must enter your personal details such as full name, email address, and an account password. In some cases, the crypto exchange will ask you to add a home address and a phone number.
Other crypto exchanges may require you to fill up a KYC (Know Your Customer) form. The KYC process is a security option implemented by well-regulated exchanges and marketplaces.
Step 2: Add Funds to Your Exchange Account
Before buying Decentraland (MANA), you must add funds to your account. Depositing funds is easy because crypto exchanges allow users to purchase Decentraland (MANA) through fiat money. Some of the best examples of fiat currency are USD, EUR, and AUD. The other ways of adding funds are debit cards, credit cards, bank transfers, and convenient electronic wallet transfers.
It’s always wise to have extra money to cover the transaction fees of payment methods. Some methods have higher fees than others. Before choosing a payment or deposit method, you should do your own research.
Step 3: How to Buy Decentraland (MANA) Right Away
Learning how to buy Decentraland (MANA) is a quick and easy thing to do. First, you must head straight to an exchange’s search bar or navigation panel. The search bar is typically located on top of the website page for easy access. Once you’ve located the search bar, start looking for Decentraland (MANA). Additionally, you can also search for Decentraland (MANA) trading pairs. Once you’re done searching, just put the amount of MANA coins that you want to buy.
You must always double-check the transaction details, especially the amount of MANA that you want to purchase. Reversing a transaction is difficult and impossible sometimes!
Also, prior to the transaction, cryptocurrency exchanges might refer you to their exclusive wallet software. This digital wallet is important for storing your crypto coins and tokens. You don’t have to take the offer because you can always create an individual wallet. And if you have the capital, you can even buy a hardware wallet with high-encryption security.
Everything You Have to Know About Decentraland (MANA)
Decentraland (MANA) is a unique cryptocurrency platform focused on virtual reality and powered by the Ethereum blockchain. Through Decentraland, users can own virtual land and create many types of virtual content. Additionally, crypto users can experience the content created by others. You can think of Decentraland as a giant virtual reality game.
As a Decentraland user, you can buy MANA and use it for speculative trading or investment. The Decentraland platform has tons of non-fungible tokens (NFTs) that represent small pieces of virtual reality. If you own some of these Decentraland NFTs, you can become a virtual landlord or an explorer ready to chart new lands.
The most common types of content that you’d find within the Decentraland platform are 3D assets, custom apps, and interactive games. Through these content types, you can interact with thousands of users and start profitable trades.
Just like other cryptos, Decentraland (MANA) is decentralized. There’s no governing body assigned to the platform, and every transaction is documented. The Decentraland system lives and breathes through in-depth blockchain computational work.
Also, MANA is an important governance token. If you own MANA, you have voting power in the Decentraland DAO. Through MANA ownership, you can be a part of Decentraland’s upcoming projects and initiatives.
What Makes Decentraland (MANA) Unique?
The Decentraland (MANA) virtual reality platform is unique because of its multi-layered architectural setup. The three layers of Decentraland are Consensus, Land Content, and Real-Time.
The Consensus layer contains all of the land parcels (units of ownership) owned by Decentraland users. This layer also has rules, schematics, and processes that determine the nature of virtual land ownership. The Consensus layer also governs the transfer of NFTs and the seamless process of burning MANA.
The Land Content layer is a big sub-platform focused on an asset or content distribution. In this layer, a complicated rendering occurs, based on the conditions set by the decentralized smart contract.
Lastly, the Real-Time layer empowers peer-to-peer communication and direct user interaction. This is the fun part where you can create an avatar that will interact with the growing world of Decentraland.
Decentraland also relies on an integrated identity system. Under this system, the parcel of land that you own contains your initials. It’s like your virtual land parcel represents a piece of your virtual identity.
Who Are the Founders of Decentraland (MANA)?
The founders of Decentraland are Ari Meilich and Esteban Ordano. Through the skills and experience of these founders, the Decentraland platform gained a massive following in 2015. The hype of Facebook’s rebrand to Meta also contributed to the continuous value growth of the MANA.
Meilich and Ordano are known for their active connections with big brands like Samsung, Atari, and Adidas. The virtual representations of these brands are available in the Decentraland platform. The appearance of big brands is also essential for the launches of various Decentraland events and virtual functions.
What Are the Use Cases of Decentraland (MANA)?
The Decentraland (MANA) token is a ground-breaking asset that complements the growth of the metaverse. Currently, MANA has several use cases driven by the creativity of users and content makers.
Here are the popular use cases of Decentraland (MANA):
- Speculative trading
- NFT ownership
- Virtual land ownership
- App creation
- Content creation
- Social interactions and experiences
Official website: https://decentraland.org/
Essential Points of the Decentraland (MANA) Whitepaper
The Decentraland (MANA) Whitepaper is packed with important details and technical aspects. The paper explored the three main layers of the Decentraland platform, as well as the purposes of MANA and land.
Check out the strong points of the Decentraland (MANA) Whitepaper:
- Virtual land ownership through NFT assets
- Multi-layered architectural setup
- Social experiences and events
- User freedom on app creation and curation
- Advertisement inside the Decentraland virtual world
- Merchandise transactions using MANA
- Challenges of content distribution and filtering
The Best Cryptocurrency Wallet for Decentraland (MANA)?
Now that you’re aware of how to buy Decentraland (MANA), you should consider the security of your cryptocurrencies next. With the help of the Internet, you can always choose from dozens of free cryptocurrency wallets.
The hot storage wallet is the first type of wallet that you’d encounter. Hot wallets are also known as digital wallets. Since these wallets are connected online, you can always access them whenever you want. If you don’t have enough cash to spare, a digital wallet is a nice choice because of its free memberships. One downside of hot wallets is vulnerability. If you’re not careful, a hacker can open your hot wallet and steal your cryptos through unauthorized transactions.
The second type of crypto wallet is called cold storage wallet. Cold wallets are physical storage wallets with a high level of encryption. For an added security measure, you can store your cold wallet in a durable safety deposit box. Additionally, you can put your physical wallet in a separate carry case.
What Factors Can Affect My Choice of Crypto Wallet for Decentraland (MANA)?
Before buying a crypto wallet, you should have a shortlist of preferences that you can refer to. These preferences will help you pick a reliable crypto wallet to store your MANA.
- Is regular trading your thing? If you answered YES, then a hot storage wallet is the best choice. A hot wallet has a quick log-in system to your chosen crypto exchange. In less than a minute, the hot wallet will let you trade Decentraland (MANA) without problems.
- Always pick the crypto wallet that supports a wide range of cryptocurrencies. If your chosen wallet is limited, your profit potential might be limited as well.
- A cold wallet has better security capabilities than a hot wallet. Just keep your private key phrase in a secured location such as a personal organizer, a card case, or even a lockbox with a special code.
- If money is tight, you can always register to a free hot wallet and upgrade later.
- Do you need a technical analytics function? A hot wallet is an excellent choice. Most hot wallets can generate crypto data that are helpful for analyzing market insights.
Going All-In with Ledger and Trezor Cold Wallets
After knowing how to buy Decentraland (MANA), you’re probably aware of the importance of a cold storage wallet. Unlike free hot wallets, cold wallets have high-tier security functions and long-term durability. Some cold wallets are affordable, but others are expensive. Still, you can always find a middle ground option that fits your budget.
Ledger and Trezor cold wallets are excellent starting points.
Ledger is a remarkable brand because of its dependable security features and technical functions. Through the Ledger interface, you can only send crypto if the storage is connected to a personal computer. Ledger storage products are also appealing to the eyes and don’t look bulky.
Trezor, on the flip side, is a top choice for beginners. The Trezor interface is beginner-friendly, and the security level is competent enough. Trezor wallets are also compact and available in multiple colors such as black, white, and gold.
General Market Overview for Decentraland (MANA)
Do you want to learn more about Decentraland (MANA) and its framework? Check out our cryptocurrency blog for additional information.
Inside our crypto blog, you will find topics about the following:
- Trading speculation about Decentraland (MANA) and other cryptocurrencies
- Market prices and news
- Detailed historical charts
- Whitepaper summaries