The Decentraland token (MANA) plays a vital role in the game project of the same name. Still, it is also a sought-after trading asset – at the time of writing, its rate has grown by 250% in a week and by 4000% in a year; the coin is in the top 60 by market capitalization. In this regard, the issue of buying USD to MANA is more than relevant for both experienced investors and beginners as an option to diversify the crypto portfolio.
What is Decentraland, and why do you need a MANA token?
Decentraland is a popular decentralized virtual reality platform, a metaverse on the Ethereum blockchain. Launched in 2017 and released to the public in 2020. Allows users to create, apply and monetize game content. Users are also responsible for managing the virtual universe. Each in-game item or land is a Non-Fungible Token (NFT).
Due to MANA’s extensive functionality and demand, it is not surprising that the token has already become a mid-cap asset; perhaps, over time, we will see him at the top in capitalization. In the long term, it can catch up with other decentralized finance and GameFi projects.
How to buy MANA: 4 working methods
Let’s consider how you can acquire a Decentraland project token safely and legally in different ways.
On crypto exchanges, you can buy, sell and exchange Decentraland concerning fiat money and cryptocurrency or stablecoins.
Trading on centralized exchanges usually means the user will need to pass KYC verification; this is one of the main anti-money laundering regulatory measures. Warranty includes verification of identity and other sensitive data. It should be understood that the exchange for suspicious payments will automatically monitor all transactions. But KYC also protects the user by making it harder for fraudsters to access the account.
Working with such sites is fundamentally different from working with centralized ones. To exchange USD to FUN, you need to connect using a wallet. Each transaction is subject to a network commission. It should be noted that it is now relatively high in the Ethereum network, so it is unprofitable to trade in small amounts.
There are still few traditional exchange offices with this token, but there is the possibility of buying and exchanging using payment services such as Changelly or ChangeNow. These licensed services are pretty convenient for quickly buying cryptocurrency from a card.
Purchasing cryptocurrency with a wallet includes the following steps:
- press the “Buy” button;
- select the desired coin (you can use the search field);
- enter the purchase amount;
- select a payment method and payment provider. Sometimes several providers are offered at once; in this case, you can choose from them the one that currently has the most favorable commissions and high speed of payment processing;
- enter card details (for each payment provider, this is only required the first time);
- confirm payment;
- wait until the cryptocurrency is credited to the wallet. As a rule, it takes no more than ten minutes.