Pros and Cons of Investing in Decentraland, Will It Be A Millionaire Maker?
Is It A Good Idea To Invest In Decentraland?
Do you want to learn about the pros and cons of investing in Decentraland that will push you to know if it is a good idea to invest in Decentraland?
Decentraland’s native asset MANA may just be the missing decentralized finance (DeFi) token in your portfolio of investments. In this article, we are going to take an in-depth look as to why you may consider investing in Decentraland, the pros and cons, and the essential factors to look out for.
Before deciding on investing in Decentraland, you must embark on fundamental analysis to get to know the entirety of the protocol and its novel token. Investing in Decentraland with the mindset of thousands of people who rely on recommendations across Twitter, Facebook, and Reddit puts you in a position where your chances of making losses are relatively higher.
First and foremost, MANA is not the usual cryptocurrency we are used to which is integrated across millions of merchants worldwide for the buying of products and services online. Instead, it offers something unique that is synonymous with other decentralized finance (DeFi) tokens.
Decentraland (MANA), unlike mainstream cryptocurrencies, Litecoin (LTC), Dogecoin (DOGE), Bitcoin (BTC), Dash (DASH), and ZCash (ZEC), is an entirely new kind of protocol that intends to allow its users to create virtual reality lands and use its native asset to pay for services on the platform.
Because such a unique innovation has been highly commended by experts, investing in MANA looks like a gold mine for novice and experienced traders and investors. But before you embark on a trading and investment journey, you should not be an unsophisticated investor who thrives merely on speculation to make decisions. You must understand what Decentraland is, what it does, and any risks associated with the cryptocurrency you should take into perspective. This is because, since the inception of Bitcoin (BTC) as a tradable token, no digital asset has a perfect trading history.
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- What is Decentraland?
- The PROS of Investing in Decentraland
- The CONS of Investing in Decentraland
- Where Can I Buy Decentraland (MANA) / How to Invest in MANA?
- Will Decentraland (MANA) Be a Millionaire Maker?
- Conclusion: Is Decentraland (MANA) A Good Investment?
What is Decentraland?
Decentraland is a virtual reality (VR) platform that exists on the blockchain of Ethereum. It allows its users to experience, create, and monetize content and applications. To put it simply, Decentraland permits users to buy virtual property, develop the property like creating an estate in the real world and maintain it as an online business. It was co-founded by Ariel Meilich and Esteban Ordano. The Initial Coin Offering (ICO) of Decentraland was conducted in 2017 and $24 million was raised within a short period. In 2019, after 2 years of numerous tests were carried out, the virtual world of Decentraland launched its closed beta. Owning up to quality instead of making rash decisions, the founders waited for more months to pass. They finally opened Decentraland to the general public in February 2020. It is overseen by the Decentralized Autonomous Organization (DAO).
Decentraland effectively exists as three separate but interconnected entities.
- The Decentraland Virtual World. This is a platform that allows you to design your landscape, create a business, socialize and chat with people, play world games, buy property, and go shopping. What’s more, various attraction sites can be built and the developer can profit from them by simply selling them outright to others or monetizing them for passive income.
- LAND and MANA. Unlike any other mainstream blockchain or decentralized finance application, Decentraland has two tokens. LAND is an ERC 721 non-fungible token (NFT) that certifies the ownership right over a purchased land. As an NFT, LAND is indestructible, non-interoperable, indivisible, and verifiable. This means that ownership over a particular land can be traced back to the original creator since historical data are stored on the blockchain. On the other hand, MANA is an ERC 20 fungible token. This means that the digital asset is interchangeable. Because of this feature, MANA powers the economy of Decentraland. Every product and service (avatars, wearables, names, etc.) is priced in MANA tokens.
- Decentralized Autonomous Organization. Decentraland makes good use of the word “decentralized”. Users have full ownership of the platform. Aside from this, they own the decision-making process. Using MANA as a governance token, they vote on upgrades and the future of the crypto project. Since it’s a digitalized system, a social media handle, @decentraland found on Twitter constantly updates fans and skeptics of the virtual reality platform from time to time.
The idea behind Decentraland is to provide business opportunities, artistic mediums, and a source of entertainment for businesses, content creators, and individuals. Typically, finding huge sums of money to create a business or purchase land with the hope of creating an estate and later profit from rent is a daunting task. This normally results in the need to have collateral to get a loan to purchase land and as well put up a structure. Aside from this, you must find real estate agents to help broker leases. This brings forth more costly payments, long waiting times, and incompletion of milestones that could see you default on loans.
Decentraland offers you an alternate platform that helps you buy land, create amusement parks and other recreational facilities in a practically free, instant, and secure virtual environment. Moreover, with the help of native asset MANA, you can pay for everything within a short period.
Are You Ready to Invest in Decentraland?
In the 16 months after the Virtual World was released to the general public, Decentraland has seen a huge user base from various developers who aimed to cash in on some of their artistic creations.
Slow but surely, Decentraland has recorded the most expensive virtual plot of land that has ever been sold. What’s more, Sotheby’s Auction House and artist Philip Colbert have all entered the Metaverse. In 2021, the virtual reality platform continues to see more developers opting for Decentraland as the number one NFT platform that can fulfill their needs.
There is the primary reason why several crypto and financial analysts believe Decentraland can compete if it cannot replace art galleries and real-life real estate developers. It has a platform that can provide the same services but in a secure, standardized, and reliable manner.
As the crypto enthusiast, Freddie of Crypto Telegram puts it, “Overall, Decentraland is a great place to start a new virtual space, and it already has cool places where you can explore. It is a great platform that could become profitable in the long run.”
So to help you make a good decision on the cryptocurrency, here are the pros and cons of investing in Decentraland.
As an e-learning organization, it is our responsibility to ensure that you are informed from a fundamental and technical analysis standpoint. We have researched far and wide to find information that helps provide detailed content on the pros and cons of investing in Decentraland which can help give you closure as to whether it is a good idea to invest in MANA? Trading Education has 1000s of articles and this is the right place for you to get informed about cryptocurrencies, decentralized finance, non-fungible tokens, and central bank digital currencies.
Read Also: Is It Worth Investing in Decentraland?
The PROS of Investing in Decentraland
What Are The Benefits Of Investing In Decentraland?
According to cryptocurrency experts and analysts, investing in Decentraland is worth considering as it could lead to enormous returns in the short and long term. With that said, what are the primary drivers behind such bullish sentiments? Let us consider the pros of investing in Decentraland (MANA) that could see it soar substantially.
✅ Decentraland Is Among the Major Players in the Virtual Reality World
There are several decentralized applications (DAPPS) that have been created to meet the growing demand of DeFi users. Decentraland is a major decentralized finance application that is categorized under non-fungible tokens (NFT) because of its involvement in the realm of virtual reality.
Decentraland is among the major platforms developers patronize when they have ideas on the creation of 3D screens, games, and applications. Based on the SCRIPTING LANGUAGE, developers can utilize features such as object creation, sound development, and physics to embark on an innovative journey. This is the primary reason why Decentraland (MANA) ranks third in the market valuation of crypto trading assets that fall under the non-fungible token (NFT) token banner.
Chiliz (CHZ) and Enjin Coin (ENJ) are the only digital assets with higher market capitalization than Decentraland in the NFT space. As of 10:20 a.m. ET, MANA has a trading price of $0.550201, with more than $24 million in trading volume, and a market capitalization of $927 million.
Such impressive statistics come as a result of Decentraland achieving several feats in the decentralized world. To give you a great example as to some of these achievements, let us consider the following.
Read More: Why Decentraland Is Going To Explode
✅ Largest Virtual Land Sale
On Friday, 18th June 2021, a virtual land in Decentraland sold for $913,000. The Virtual Property Developer spent this money on 259 parcels. This saw the intangible property command the average price of a house in Brooklyn, New York. The transaction took 1,295,000 from the total supply of MANA.
The virtual property developer that bought the virtual parcel was Republic Realm, one of the divisions of the online investment platform called Republic. This purchase is the largest land acquisition in the history of Decentraland. If there are more land purchases in the future, more MANAs would be taken off the market.
This will gradually increase the circulating supply of MANA and decrease the number of tokens left up for grabs. In the future, such a trend will culminate in scarcity which could trigger the price of MANA to new all-time highs.
✅ NFT Art
Because of its importance in the space, artist Philip Colbert has entered the Decentraland Metaverse. Philip Colbert is a contemporary British artist based in London who has worked across the mediums of furniture and design, clothing, painting, and sculpture. The artist pointed out that he waited for the right opportunity to introduce the global audience to his holistic, malleable, and interactive art experience.
The right time came during the lockdown when people were trapped inside their homes for a relatively longer period than they hoped for. As the artist puts it in an interview with Coindesk, “When the lockdown occurred I felt it was the perfect opportunity to push my digital world. Because when people couldn’t travel and stuff, then obviously you have a more captive audience than ever. This year the rise of the NFTs further incentivized me to bring it online because, in a way, it just makes it accessible for people who are not just at my exhibition, because it’s globally accessible.”
Philip Colbert further pointed out that, Decentraland is the closest the global world and particularly artists have to a global metaverse. Having produced numerous works to critical acclaim, several artists, musicians, and creative people could follow in the footsteps of the artist and use the Decentraland platform.
In the long term, since products can only be purchased with MANA, more liquidity will be poured into the cryptocurrency through Decentraland. At least, the more than 1,000 followers of Philip Colbert on Twitter aiming to own some of his NFT art will flood Decentraland and increase activity on the platform. This will be reflected in the valuation of the cryptocurrency in the process.
So, should I Invest in MANA? According to analyst Elena R, you should consider investing in Decentraland (MANA). As per the words of the analyst, “MANA could concentrate on improving its features for seamless services and some social media influences may lead to the growth of the token.
At the end of 2021, MANA might be exchanged at $2.2.” In the short term, CoinPedia further forecasts MANA to trade for a coin at the best possible price of $5.75 if Decentraland continues to be popular and gains a huge share of the non-fungible tokens (NFT) market by the end of 2022. In the long term, the crypto news and prediction portal expects MANA to benefit from partnerships and see it improve in the market. The analysts estimate MANA could trade around $10 in the next five years.
In the short term, as per the forecasts of CoinPedia, investing in MANA could see you walk away with at least 300% by the end of 2021.
✅ Has the Confidence of the Largest Digital Asset Management Firm
On Wednesday, 17th March 2021, Grayscale Investments announced that it has launched five new digital currency investment trusts including Decentraland. This led to the creation of Grayscale Decentraland Trust. In the space of 3 months after setting up the Trust, Grayscale as of 2:15 p.m. ET on Friday, 3rd July 2021 has $9.5 million of MANA assets under management.
What’s more, the return on investments (ROI) stands at 110.36%. Such statistics which are extremely accessible online inspires others with huge investment budgets to decide on the cryptocurrency. Since one of the primary drivers of an asset’s price is huge investments by well-established companies, more liquidity by mainstream corporations could cause the digital asset to spike in price in the short and long term.
As Grayscale continues to hold MANA, which did well to resist the May and June lows of 2021, Digital Coin Price believes upgrades and partnerships could result in more institutional investments. According to the experts, Decentraland (MANA) could command a trading price of $0.83779641 by the year’s end of 2021 and $0.99607971 by the close of 2022. If Decentraland continues to gain popularity through usage by well-known artists, the technical analysis-backed website expects MANA to command the best possible prices of $1.18 and $1.3 by the end of 2023 and 2024 respectively in the short term.
In the long term, MANA could reach the prices of $1.62 (2025), $1.89 (2026), $2.2 (2027), and $2.43 by the year’s end of 2028 as per Digital Coin Price. These price milestones could be tested if more people understand the concept of buying LANDS and non-fungible tokens in general. In the short term and long term, you could see a return on investments of 52.3266% and 341.818% respectively.
✅ Decentraland (MANA) Has Provided Great Returns in 2021
It may come as a surprise to you that on 1st January 2021, MANA had a trading price of $0.08. As per information retrieved from Coindesk, MANA has returned 616.81% year-to-date. According to CoinMarketCap, MANA reached an all-time high of $1.63 on 17th April 2021. The volatility of MANA stands at 1.34 (3rd June to 3rd July) in the last 30 days.
For cryptocurrency and day traders, this presents a great opportunity to make passive income from the crypto trading asset in short periods. By taking advantage of the unpredictable nature which sees the asset experience sharp increases and unforeseen declines in minutes, MANA could become one of the best cryptocurrencies you have ever included in your portfolio of investments.
What’s more, it was announced on 4th June 2021 that Sotheby’s has opened a virtual replica of its London Galleries in Decentraland. Head of sales at Sotheby’s Michael Bouhanna speaking of this new adventure pointed out that, “We see spaces like Decentraland as the next frontier for digital art where artists, collectors, and viewers alike can engage with one another from anywhere in the world and showcase art that is fundamentally scarce and unique, but accessible to anyone for viewing.”
Despite the NFT market gradually becoming saturated with new crypto projects being added daily, Sotheby’s created its replica on Decentraland. This would continue to give the virtual reality environment huge mileage which could be reflected strongly in its market valuation.
Having returned more than 600% already, the patronage of Sotheby’s by millions of its customers coupled with the creation of more galleries on Decentraland can result in MANA attaining certain price milestones.
Trading Beasts has weighed in on the price of Decentraland and has made a conservative forecast. According to the experts, MANA could command an average price of $0.7656222, the minimum price of $0.6507788, and the maximum price of $0.9570277 by the end of 2021. On 31st December 2022, the novel token of Decentraland could test an average price of $0.7092833, the minimum price of $0.6028908, and the maximum price of $0.8866041. In the long term, the native asset powering the Decentraland protocol could trade for a coin at an average price of $0.8578823, the minimum price of $0.7292000, and the maximum price of $1.0723529 by the year's end of 2023. On the last day of 2024, MANA could reach an average price of $0.9993383, the minimum price of $0.8494375, and the maximum price of $1.2491728.
Investing in Decentraland (MANA) in July 2021 can result in at least a 74.005% return on the 1st day of 2022.
Don't Miss: Decentraland (MANA) Price Predictions
✅ MANA Is Highly Undervalued
When we talk about an asset as being undervalued, it means that the particular asset is trading in the market at a price that is presumed by many to be far below the intrinsic value the asset should possess. This is the primary reason why MANA is a great asset for value investors. This is because such investors can take advantage of the gap between intrinsic and market value.
In January 2021, Decentraland averaged 1,500 daily users. This number increased by 566.667% to 10,000 daily users in March 2021. There are millions of people who are rejecting the idea of mainstream cryptocurrencies such as Bitcoin, Litecoin, Dash, Dogecoin, and Ether. This makes it difficult to convince them that aside from these digital currencies, there are more than 10,000 coins on the market and one of them is MANA. In the long term, as decentralized finance continues to return high annual percentage yields, millions of people could delve into it as well as the financial possibilities of non-fungible tokens. This could improve the price of MANA.
Wallet Investor believes MANA is undervalued and forecasts the cryptocurrency to reach $1.111 by the end of 2021. The experts estimate Decentraland could reach the best possible trading prices of $2.111 by the year’s end of 2022, $3.203 (2023), and $4.369 on 31st December 2024. In the long term, the technical-analysis-backed prediction portal expects MANA to command the best possible trading prices of $5.546 and $6.202 by the end of 2025 and 2026 respectively. With MANAs undervaluation under perspective, investing in MANA in July and the rest of the days in 2021 could see you with a return of 101.818% and 1,027.64% in the short and long term.
✅ Continues to Enjoy the DeFi Boom
The year 2021 has been labeled as the year of decentralized finance due to the rise in the number of people who have found answers to the infinitesimal rates offered by commercial banks. Non-Fungible tokens have risen proportionately as well.
As per information retrieved from Sanbase, the current NFT market is worth $6,455,353,273. It has recorded a trading volume of $605,437,517 in the last 7 days (26th June to 3rd July 2021). This is extremely impressive for a market that suffered from the May lows led by Bitcoin.
What’s more, Decentraland has led development activity in the course of the last 30 days (3rd June to 3rd July 2021). As a virtual reality platform running on the Ethereum blockchain, Decentraland has 121.57 in development activity while competitors Axie Infinity, Enjin Coin, Chiliz, The Sandbox, and My Neighbor Alice had activity close to 0.
With thousands of dollars in sales of artworks and creations becoming dormant, Decentraland has provided the perfect platform for such innovations to see light. As DeFi users increase, MANA will benefit extensively through investor interest in the platform and digital currency.
According to analyst Alyssa Wiselin at Coinquora, MANA has a great future ahead towards the end of 2021 and beyond. The analyst forecast that there is a possibility that Decentraland could command a price in the range of $2.1 and $2.9 in the months leading up to the end of 2021. The crypto prediction website forecasts MANA to reach $4 and the best possible price of $10 at the end of 2021.
The CONS of Investing in Decentraland
What Are The Negatives Of Investing In Decentraland?
Inasmuch as Decentraland as a platform provides a great NFT Marketplace for the buying and selling of arts and other creations, this does not certify its crypto trading token as a perfect digital asset. To better weigh the positives against the negatives, let us consider the cons of investing in Decentraland (MANA).
❌ The Platform Is Still In Its Early Development Phase
You should bear in mind that Decentraland was released to the general public in February 2020. As soon as it was released, the coronavirus pandemic reached its peak in March and April of the same year. This saw a decline in digital currencies and decentralized finance since thousands of investors embarked on a massive selling that plunged the cryptocurrency market to new all-time lows.
Decentraland followed the boom in digital assets in 2021 to break into the mainstream. This is the primary reason why Decentraland as a decentralized virtual platform cannot be entirely trusted to take the market by storm. It would need time to adapt to the needs and demands of the market. Once the platform can survive for two years for users to pinpoint pitfalls associated with its usage, then its cryptocurrency MANA could have predictions based on certainties and not possibilities.
There are several price forecasts in the earliest days of smart contracts where Ether (ETH) was estimated to command huge trading prices in the future. Based on its potential in the market after an extended period, this came through. Do not base your trading and investing in MANA decisions based on the forecasts by analysts and experts. The project is fairly young and may not be able to survive in the long term.
❌ Many People Do Not Understand the Concept of NFTs
Aside from blockchain enthusiasts, skeptics of decentralized finance, and cryptocurrency traders, how many people know about non-fungible tokens (NFTs)? Despite the crackdown on cryptocurrencies by several regulatory bodies, it may come as a surprise to you that millions of people do not know the full meaning of the abbreviation CBDCs which means central bank digital currencies.
With others asking about privacy issues about the possible use of CBDCs in our daily transactions, millions are still unaware of the possibilities of non-fungible tokens. It is not easy to convince a group of people to invest in a cryptocurrency that thrives on the fundamentals of providing a virtual environment where people can build estates, monetize them, or sell them outright for a huge sum of money. Millions are appalled by the decision of a buyer to purchase an NFT digital artwork from Beeple for $69 million. It will take a great deal of time for people to be educated about NFTs, their purpose, and more importantly, the substance it adds to the decentralized finance space aside from generating passive income for its buyers and sellers.
❌ Infinite Competition in the NFT Space
As one of the pioneer virtual reality platforms, Decentraland is not alone. Bitcoin saw Litecoin, Dogecoin, and Dash compete with it from the start. Ethereum met competition from Tron, Binance, and another Ethereum Killer Cardano when it triggered smart contracts.
After China took the lead in creating the digital Yuan, other countries have started pilot studies on how to go about creating and sustaining the use of CBDCs in the short and long term. Decentraland has also met strong competition from NFT marketplaces such as Axie Infinity (AXS), The Sandbox (SAND), Algorand (ALGO), Crypterium (CRPT), Enjin Coin (ENJ), Bakery Token (BAKE), Chiliz (CHZ), Ecomi (OMI), Flow (FLOW), WAX (WAXP), Ultra (UOS), LUKSO (LYXe), Dego Finance (DEGO), Aavegotchi (GHST), Ethernity Chain (ERN), Rarible (RARI), and Bounce Token (AUCTION).
Major players such as Axie Infinity, Chiliz, and Enjin Coin continue to dominate the market. As of the time of writing, CHZ had a trading volume of $99.15 million, ENJ had a trading volume of $72.21 million, and AXS had a trading volume of $101.66 million.
As per information retrieved from DAPP RADAR on NFT Collections, Axie Infinity had recorded a platform volume of $15.37 million in the last 24 hours up to the time of writing. It had 15,562 traders and 35,235 in sales. This could not be compared with Decentraland which at the same time had recorded a platform volume of $71,420, had seen 21 traders, and had sold 11 items.
In the DAPP Industry Report that tracked data in the 2nd quarter of 2021, it was pointed out that “Axie Infinity attracts more than 4,700 daily unique wallets increasing usage by 360.61% quarter-on-quarter.” What’s more, Axie Infinity is cited as the top NFT in the DAPP rankings in terms of volumes.
This means that Decentraland is currently playing second fiddle to another NFT Marketplace. With time, as the project gains experience and its crypto trading asset adapts to the crypto trading environment, MANA could pick up in price. Unfortunately, AXS and other novel tokens of issuing NFT marketplaces will continue to take a substantial part of the market.
In the long term, this does not bode well for MANA. Any investment made could result in losses that may not be recovered due to too many coins in the decentralized market.
Where Can I Buy Decentraland (MANA) / How to Invest in MANA?
Due to a lot of regulatory bodies keeping tabs on cryptocurrency exchanges, it would only be wise that you find a credible and authentic exchange to help you in your quest to invest in MANA. As an e-learning organization that wants the best for traders and investors, we would like to recommend eToro for you. eToro has served millions of customers for 15 years. Unlike relatively newer exchanges that came in to profit from the DeFi boom, eToro aims to provide you with the same quality service it has provided its customers. It is one of the safest and secure platforms that can hold your coins in the short and long term.
Follow the steps below and you’d be on your own towards investing in Decentraland (MANA).
The FIRST STEP is to CREATE AN ETORO ACCOUNT. Without having an account with eToro, you cannot trade. Since eToro is a centralized exchange, you are to provide authentic details of your full legal name, contact number, email, and residential address. You should note that there will be an in-depth verification process but the first phase is to verify your contact and email. Kindly provide credible information right from the start.
The SECOND STEP is to go through a FORMAL VERIFICATION PROCESS. EToro must verify the person behind the personal computer or smartphone. To prevent money laundering, identity, and credit card theft, eToro will request you to upload a government-issued identification card that confirms your being human. Aside from this, eToro normally requests proof of address so that they can match your billing address to the document uploaded. Bank and credit card statements, as well as internet bills, are normally requested. An ID card preferably with your signature normally quickens the process. Once this has been done, the Knowing Your Customer (KYC) phase can be completed swiftly.
The THIRD STEP is to go through a DEPOSITING PHASE. Although you are going to deal in cryptocurrencies, you cannot purchase MANA without depositing fiat currency. Going through a range of options such as Skrill, PayPal, Neteller, Rapid Transfer, iDEAL, VISA, and MASTERCARD, you can buy several MANA based on your investment budget.
The LAST STEP is to NAVIGATE TO THE MANA PAGE. On this page, you can buy MANA. The transaction will be processed and your MANA tokens will be added to your account.
RISK ALERT! Digital assets such as MANA are the same as mainstream cryptocurrencies Bitcoin and Litecoin. They are highly volatile and can result in the loss of your funds within a short period. Risk what you can afford to lose. Diversifying your portfolio among less-volatile and high-volatile digital assets can go a long way to help you balance gains and losses.
Will Decentraland (MANA) Be a Millionaire Maker?
In a sense, it already is - MANA has a market capitalization of $933,197,621 and a diluted market capitalization of $1,207,624,487. This categorizes the crypto trading token under a small-cap asset. With the rise of decentralized finance and the possibilities of non-fungible tokens which continue to rake in passive income for users, a resultant rise will befall MANA in the future.
Being a finite resource, the value of Decentraland could increase when all the coins are mined. According to the basic laws of economics, scarcity normally leads to a growth in the price of an asset. So, is decentraland a millionaire-maker coin? YES, MANA is a millionaire-maker coin according to Gov. Capital. As per the experts, Decentraland (MANA) could reach the best possible price of $4.36425 on Sunday, 5th July 2026. At $0.55, buying 240,000 MANA will set you back $132,000. In the event the forecasted price is tested, your 240,000 MANA multiplied by the new price ($4.36425) equals $1,047,420 (Millionaire Maker).
Conclusion: Is Decentraland (MANA) A Good Investment?
YES! According to Gov. Capital, MANA could command a trading price of $0.7314 by the end of 2021. With that in perspective, you should know that most investments come down to two factors. They are risks and rewards. You must always ask the question, do the potential rewards outweigh the possible consequences of the risks?
Decentraland has some risk factors such as many people not understanding the concept of non-fungible tokens. Aside from this, the virtual reality platform faces strong competition from the likes of Chiliz, Flow, and Axie Infinity. What’s more, the cryptocurrency MANA is a long way from posing any challenge to mainstream cryptocurrencies. In addition to this, it is not one of the most popular alternate coins (altcoins) on the market based on its daily trading volumes.
Have you considered investing in Decentraland (MANA)?
On the other hand, the statistics behind non-fungible tokens, decentralized finance, and cryptocurrencies means Decentraland is becoming more and more mainstream. This has seen household names such as Sotheby’s create a virtual gallery on its metaverse. Plus, the current price of MANA is relatively lower. This makes MANA a great investment instrument for novice and experienced investors who want to add one of the best-performing digital assets in 2021 to their portfolio of investments.
To put it simply, Decentraland can be a low-risk investment with loads of hidden rewards. You can supplement the fundamental analysis here with independent research to help you decide on MANA.
The real question therefore is, does investing in MANA work? Well, for investors who believed in the possibility of the cryptocurrency on 1st January 2021, it has returned more than 600% in less than 7 months.
Now that you know the pros and cons of investing in Decentraland, if you want to start investing in MANA, eToro provides the ability to trade with crypto assets and Contracts for Differences (CFDs) on up to 90 cryptocurrencies.
eToro – The Best Platform to Buy Decentraland
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
Where Can You Buy Decentraland (MANA)?
Several cryptocurrency exchanges offer MANA for trading and investing. eToro is one of the oldest exchanges out there that provides a user-friendly platform that can safely and securely store your coins. Aside from eToro, Binance, Coinbase Pro, and OKEx also list MANA for trading.
How Many Decentraland (MANA) Coins Are There in Circulation?
As of 8:10 p.m. ET, there are 1.69 billion MANA circulating in the market from a total supply of 2.19 billion MANA.