How to Buy Decentraland in the USA

A Beginner’s Guide to Buying Decentraland Cryptocurrency in the USA

Last Updated July 23rd 2021
5 Min Read

If you’re based in the USA and looking to buy Decentraland  – the process is very simple. All you need to do is find a US regulated exchange, deposit funds into your account, and decide how many Decentraland tokens you want to buy.

Decentraland is built on the Ethereum blockchain. It’s a unique protocol that manages and tracks ownership of digital land.

The virtual reality platform enables users to buy virtual plots of land that allow them to explore and build applications on them.

Its native cryptocurrency token is the MANA coin, which is used to buy virtual plots of land. They can also use the MANA token to purchase goods and services in the digital universe. The MANA token is also offered for trade on several cryptocurrency exchanges. If you’re interested in buying Decentraland in the USA, the guide below will come in handy for you.

What's in this guide?

  1. QUICK GUIDE: HOW TO BUY DECENTRALAND IN THE USA
  2. A step-by-step guide to buying Decentraland in the USA
  3. How to sell Decentraland (MANA)
  4. Which wallets can I use to hold Decentraland?
  5. Key things to consider when buying Decentraland in the USA
  6. Conclusion

QUICK GUIDE: HOW TO BUY DECENTRALAND IN THE USA

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Decentraland
  5. Enter how many Decentraland MANA tokens you want to buy
  6. Check the details and confirm your purchase

A step-by-step guide to buying Decentraland in the USA

Set up an account with an exchange that supports Decentraland in three steps:

Step 1. Open an account on a cryptocurrency exchange

The first thing you have to do when buying Decentraland (MANA) is to choose a cryptocurrency exchange that will make the transaction possible. A crypto exchange enables users to buy, sell, and trade on different cryptocurrencies. Note that not all exchanges offer the MANA token on their platform, so you need to select the right one. Also, if you don’t have any other cryptocurrency in a wallet, the only option is to buy with fiat currency (USD). In this case, you need to select an exchange that allows deposits in fiat currency.

Once you find the broker, enter the details they requested. This could include your email address, address, proof of ID, and employment detail, depending on the crypto exchange.

Also, you need to enable two-factor authentication (2FA) to provide added security to your account.

Once you provide the details, a confirmation email will be sent to you. Log into your email and confirm your registration. Your account will be created and you can now fund and start buying MANA.

Step 2: Deposit funds into your account

The next step is to deposit funds into your account. Log into the newly created account on your exchange and navigate to the accounts section. Select the right deposit method that suits your need. Since you are depositing with fiat currency, you can fund your account with PayPal, credit card, debit card, or bank transfer, depending on the options available on the portal.

Enter the amount of USD you want to deposit into the account and complete the transaction details. Once the deposit is approved, your exchange account will be credited and a confirmation will be sent to your email.

Step 3: Buy Decentraland (MANA)

Buying MANA on an exchange can be done in two ways. You can buy directly with fiat currency or buy another cryptocurrency before buying MANA.

If the crypto exchange doesn’t have any trading pair that allows you to buy MANA directly with fiat currency, you may have to buy let’s say Bitcoin (BTC) or Ethereum (ETH). Once the transaction is complete, you can buy MANA with the BTC or ETH token. Most exchanges offer fiat currency pairings with major cryptocurrencies, so you won’t have issues buying with USD. But it’s always better to have an exchange that offers fiat currency purchases for MANA because it prevents double fees from multiple transactions.

How to sell Decentraland (MANA)

Selling MANA is also very easy. It is very similar to buying MANA in step 3 above. However, the only difference is you will be clicking the “sell” field instead of the “buy” field. Enter the number of tokens you want to sell and fill in the remaining details.

Again, you may not find the currency pair you want to exchange. In this case, you can buy a popular cryptocurrency and exchange it with the currency you need, just like in step 3.

Which wallets can I use to hold Decentraland?

If you’re looking to hold your MANA token for the long term, it’s not advisable to keep them in exchange. That’s because it can expose your tokens to the risk of hacking and theft. So, getting a crypto wallet to keep your tokens is a safer option.

Also, remember that MANA is an ERC20 token on the Ethereum blockchain, so it’s important to select a wallet that can hold the tokens.

There are two types of crypto wallets. You can choose the hardware wallet (offline) or software wallet (online). The former is safer because it stores your tokens in hardware that is not connected to the internet. This is the ideal option if you’re not planning to access your MANA token regularly.

The online storage option is only ideal if you need to be checking or accessing your MANA tokens often or if you are trading with them.

Key things to consider when buying Decentraland in the USA

The following are the things you should consider before buying the MANA token in the USA.

Cryptocurrencies are speculative

Remember that Decentraland (MANA) and other cryptocurrencies are highly speculative and complicated. Several factors can affect their price. As a result, you need to ensure the pros and cons of the token are thoroughly accessed before you buy them.

Competition

The adoption of Decentraland can be affected based on its comparisons with other similar projects. Presently, it’s facing competition with other blockchain-based VR projects such as Cappasity. It is also facing competition from other tech companies like Microsoft and Facebook that are expanding into the VR Space. This has affected the pace of its adoption. But despite the competition level, the project’s team of developers has been able to steer it in the right direction.

Usage

The use of a token can also influence its growth and price. Generally, the token must be burned to claim land on the platform. Users can also buy goods and services in the digital world with the token, which gives it a utility value. And with MANA being traded on major cryptocurrencies, it expands its value and enables more adoption.

Conclusion

Decentraland is a blockchain-based project that has gained a lot of interest from the DeFi and crypto community. Its MANA token is being traded on several exchanges, which has increased its usage, adoption, and price. But there is more room for the token to grow.

If you’re looking to buy Decentralized (MANA) in the USA, the guide above offers all the details you may need.

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