How to Buy Decentraland (MANA)?

How to buy Decentraland (MANA)?

Decentraland is a virtual world where anyone can create apps, content, and can experience the virtual world using a VR or a browser.

 

 

Decentraland contains a finite virtual space called LAND, similar to the real world. And this land is divided into multiple parts called parcels. So, people can purchase these parcels using the default cryptocurrency of the platform called MANA. And the owners of the parcels can create 3D models, VR applications, and games. Plus, the owner will have all the rights to these apps, games, and any revenue generated using the parcels owned.

The content on Decentraland is stored, shared, and served using IPFS—a protocol similar to HyperText Transfer Protocol (HTTP). And the ownership and transfer of the property are managed using Ethereum blockchain.

MANA Wallets

Since MANA is an ERC-20 compliant token, any wallet that supports ERC-20 tokens will support MANA.

MyEtherWallet is a web wallet. And there is a browser plugin based wallet called Metamask. Hardware wallets like Trezor and Ledger Nano S also support ERC-20 tokens like MANA.

How to buy Decentraland (MANA)?

Decentraland (MANA) is available in many cryptocurrency exchanges like Binance, HitBTC, and Upbit, etc.

Here we describe the step-by-step procedure to buy MANA on Binance exchange.

Before proceeding, remember that Binance does not support trading with any fiat currencies. For that reason, buy tethered currencies like USDT and deposit them in Binance.

That being said, let’s see how to buy MANA.

  1. Navigate to https://www.binance.com/ (Ensure that green padlock and HTTPS are shown in the address bar of the browser.)
  2. MANA is only available to buy with BTC or ETH
  3. First, buy some ETH or BTC using USDT or some other trading pair using the pair selection window available on the right side.
  4. Then, under the price chart, using the order section place a buy order for ETH or BTC. If you already have BTC or ETH, then skip this step.
  5. Again, select the MANA/ETH pair available from the top right pane.
  6. Go to the Order section available under the price chart.
  7. Place a buy order using a preferred order type like Limit or Market.
  8. Once the desired price is hit, the order gets executed.
  9. Viola! Now you own some MANA.

If you want to store MANA for a long-term (HODL), transfer your tokens from Binance exchange to a hardware wallet like Ledger Nano S.

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