How to trade Decentraland?

Decentraland is a decentralized virtual reality platform which is functioning on the Ethereum blockchain. Learn more about the platform itself, its tokens, the prospects for investing in MANA, and the best platforms for operation with token in our today’s review.

What is MANA

What is Decentraland (MANA)? 

Decentraland is a virtual reality platform operating on the basis of the Ethereum blockchain. Anyone can use this platform to create unique game content in the form of NFT, and then monetize it. The built-in marketplace allows users to buy and sell content using MANA tokens. The game ecosystem is based on land plots, which are designated as the LAND token and give players control over the created objects. 

So, to get LAND tokens, you need to burn a certain number of MANA tokens. After the acquisition of the plot, its owner has the right to do with it whatever he wants. Several plots together form a district, in fact, it is a community of people connected by the same topic. In general, the platform assumes that in the future it will host game versions of real companies. 

Why should I trade Decentraland? 

Blockchain games are a rapidly developing field, so it’s worth trading MANA at least for the following reasons:

  • Decentraland is an extremely promising platform that allows users to monetize their creativity. This idea is very attractive for users, which can be seen by the price increase. In 2021, the price increased by more than 800%.
  • In the future, many global organizations will be able to use the game as an advertisement for their business. This is a whole virtual world, without restrictions and censorship. And with the launch of Ethereum 2.0, it is expected that the game will become even more profitable.

As of September 1, 2021, the MANA price is $0.9633, the market capitalization is $1,729,522,532. The minimum price of $0.007883 was October 13, 2017. The maximum price of $1.63 was on April 17, 2021.

Where to trade Decentraland? 

You can trade MANA through exchanges and brokers, for example:

  • Binance – an exchange with low fees, a good reputation, a huge selection of trading pairs, as well as professional trading tools.

Traded coins: more than 350 

  • OKEx – an exchange is one of the safest, provides a wide range of functionality for advanced trading.

Traded coins: more than 250 

  • 7b – a crypto broker compares favorably among competitors with its fees, ease of use, and increased security level. It also supports all coins available on Binance.

Traded coins: more than 350 

Where to trade cryptocurrency

How to trade Decentralandp using the 7b crypto broker app? 

If you are looking for the best platform for trading MANA, then welcome to 7b. The 7b crypto broker application provides an opportunity to trade more than 350 cryptocurrencies in a user-friendly and secure environment. Follow the simple steps:

  1. Open the 7b app on your smartphone.
  2. Sign up for your account.
  3. Withdraw any of more than 350 cryptocurrencies to your balance.
  4. Select a trading pair.
  5. Fill out the market order.
  6. Confirm the transaction. 

Decentraland Exchange 

Where to exchange MANA? 

Being in search of a simple and convenient platform for swap, the trader will have to choose between a broker and a swap platform. Make a decision after weighing all the pros and cons:

Broker:

Pros Cons
Increased security levelThe need to withdraw funds from the account to the wallet
A lot of cryptocurrencies to choose from  
There are no limits

Swap platform:

Pros Cons
Provides anonymityLimited choice of exchange pairs
Exchange at a fixed rate is available 
Non-custodial service

Choose one of the suggested platforms for MANA exchange:

  • EasyBit – the exchanger has a built-in Volatility Protection Mode, and provides more than 100 cryptocurrencies.

Service Fee: 0.10% to 0.20%

  • InstaSwap – the exchanger provides the best exchange rate for more than 130 cryptocurrencies.

Service fee: 0.25%

  • SimpleSwap – the platform has its own SWAP coin, which acts as a Loyalty Program. More than 300 currencies.

Service fee: included in the exchange rate

What to know before exchanging Decentraland? 

In recent years, a huge number of different exchange services have appeared in the crypto sphere. A newly minted trader can get lost in such a variety, so we recommend that you:

  • Always check the exchange platform for reviews, fees, exchange limits, as well as reliability. For example, the SwapZone service ranks exchangers and helps you choose the best one for a certain exchange pair.
  • Always check the entered data twice. This is an extremely important recommendation, because if you make a mistake in the wallet address, the funds will be lost.

How to buy Decentraland for fiat? 

In order to choose the platform on which you will make a fiat-to-crypto purchase, we recommend that you pay attention to the following indicators: the service life, reviews on third-party resources, service fee, and available currencies. One of the most popular services for fiat purchases is Changelly, just a few steps and you are the proud owner of MANA:

  1. Choose a fiat/crypto pair.
  2. Specify the amount.
  3. Provide your wallet address.
  4. Pass the KYC process. 

Decentraland use cases 

MANA is an internal token of the Decentraland platform, which has the following use cases:

  1. Governance. MANA holders have the right to vote in the DAO on the most important issues of the project’s functioning.
  2. The main payment unit in the game. The token is burned to get a LAND token, and also serves for purchases of various items in the game.

FAQ 

Is Decentraland a good investment? 

Yes, if you have free funds, it would be wise to invest them in the purchase of several MANA coins. The Decentraland game project is quite promising and it seems that it has already won the interest of many users. So, in just a year, the price has increased by 800% and it seems that this is just the beginning.

How do I invest in Decentraland? 

In order to invest in MANA, a trader needs to choose a suitable service depending on the requirements (exchange or fiat purchase). To buy MANA for example for ETH via 7b crypto broker: set up an account, select crypto pair, enter how many MANA coins you want to buy, and confirm the placement of a market order.

How to trade MANA for beginners? 

Never forget about the volatile nature of the crypto market. If the price has fallen sharply, do not rush to sell your assets, because often after a sharp drop, a sharp rise follows. Use reliable and easy-to-use services, for example, 7b, where you just need to create an account for trading, withdraw cryptocurrency from your wallet to your account, select a crypto pair, specify transaction details, and confirm the transaction.

What is Decentraland Blockchain?

Decentraland is a gaming platform based on the Ethereum blockchain, where players can buy a plot of land (which is expressed in the form of the LAND token), create anything they want on it, and monetize their creativity. The platform has an internal currency MANA (ERC-20 standard), as well as a LAND token (ERC-721 standard). 

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