How to Buy Decentraland (MANA)
The appearance of new Metaverses powers the true potential of cryptos.
In the case of Decentraland, we are talking about the first fully decentralized world, which created a precedent in the industry.
It is not a secret for anyone that major companies are betting on innovative Metaverses where ownership and decentralization are the true kings of those realms.
As a consequence, the MANA token on Decentraland has skyrocketed due to an increasing interest in worlds like this.
Token holders and newcomers might be interested in acquiring MANA as well. That’s why in today’s guide, we’ll be breaking down all the information you need about:
- How to buy Decentraland (MANA);
- What is MANA and what to know about Decentraland;
- Best cryptocurrency exchanges to buy, store, or sell Decentraland MANA.
Understanding Decentraland Virtual World
Decentraland is a decentralized world conformed by land ownership which takes place thanks to smart contracts on the Ethereum Blockchain.
Decentraland’s protocol is divided into three layers, which are the consensus layer, the real-time layer and the land content layer.
It also hosts the MANA token through a decentralized autonomous organization (DAO), which provides voting power to land owners and holders.
Purchasing MANA is essential for users who want to participate in the Decentraland marketplace, where assets and services can be acquired.
So, if you want to buy land on Decentraland, that’s how the world works.
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Where to Store, Buy, and Sell Mana Tokens
Since MANA is an Ethereum token, there are plenty of places where you can buy it. On top of that, you need an Ethereum Wallet to store it.
In this case, hardware wallets, like Ledger Nano X are your best shot.
A hardware wallet allows you to hold total control of each private key, which is imperative for keeping your funds safe nowadays.
These are some of the exchanges where you can acquire MANA:
- Coinbase: this widely known crypto exchange allows you to purchase MANA easily. Nonetheless, the exchange commission is slightly above others if we compare them face-to-face;
- eToro USA LLC: You can also purchase MANA on eToro if you live in the United States. However, users outside the country might face problems when trying to successfully use eToro’s services;
- Binance: Binance is the largest exchange in the world for a reason - it hosts all major cryptocurrencies, including MANA. For practical purposes, Binance will be our number one choice for acquiring MANA.
How to Buy Decentraland (MANA) on Binance
Since Binance has the lowest fees out there and a secure platform, we are going to show you how to purchase MANA on Binance.
You have two alternatives to do so, and we are going to show you both.
Read Also: Is your Binance Withdrawal Suspended? Perhaps there’s something wrong with your account.
Readout our related blog post to get more information about this topic.
1. Purchase MANA with Fiat Currencies
Binance offers full support for buying mana with fiat currencies. So, get your card ready, and let’s do it.
Step 1: Set Up Your Binance Cryptocurrency Exchange Account
Firstly, sign in to Binance. You need to properly verify your identity before being capable of using the different deposit methods on the platform.
Also, don’t forget to set up a strong password and enable two-factor authentication - security first!
Step 2: Go to “Buy / Sell Crypto”
After you deposit funds or link a debit card, go to Buy and Sell Crypto on Binance.
Step 3: Complete Your Purchase with Bank Account, Credit or Debit Card
Finally, select the amount of MANA you want to purchase, confirm the transaction, click on “Buy,” and you are done - you now have MANA stored on your Binance cryptocurrency wallet!
2. Buy MANA with Crypto
The second method consists of funding your Binance profile with cryptocurrencies. On Binance, you can Buy Ethereum, BTC, and almost any crypto you want.
For practical purposes, we are going to do this using BTC.
Step 1: Fund Your Binance Account with Bitcoin
You have two alternatives for funding your Binance Exchange account with Bitcoin:
- Find your Binance address, and receive BTC directly on your wallet;
- Buy Bitcoin using your debit or credit card.
Step 2: Go to the BTC/MANA Trading Pair
Once you have enough Bitcoin, go to the MANA / BTC trading pair.
Step 3: Convert Crypto and Buy MANA
Here, you will swap Bitcoin for MANA. Just place the order, and the exchange will tell you the exact fraction you are going to get, as well as all the fees related to the transaction.
Confirm the operation, and get MANA! Binance is always really easy to use. For more Binance posts, GrowFollowing will be here for you.
FAQ
Is Binance Better than Coinbase for Acquiring MANA?
It depends on your needs, but when it comes to variety and low fees, Binance is the absolute king of crypto exchanges.
Check out our Binance vs. Coinbase review to learn more about this.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.