The Ultimate Guide to Trading Decentraland With eToro
Decentraland is a platform that allow users to play in a virtual world to purchase land, visit places, create content and pay for services and buy goods. All of these are done in a digital world powered by the blockchain technology of Ethereum.
Think of SIM City 3000 but better and with more real-world uses. In Decentraland, you can build casinos, games, 3D applications, videos, travel, engage in business, shop and almost everything one can do creatively in a virtual world.
And here's some good news: You can trade this crypto on the eToro online investment platform!
Thinking of Trading Decentraland with eToro?
If you're planning on investing or trading Decentraland (MANA) then it would be simpler to click the button below. This will take you to the eToro MANA trading page where you can see its current price and also buy MANA of any value you plan to invest.
Before trading MANA on eToro, just simply open an account with them. Don't worry, the whole process will only take a few minutes.
YES, TRADE MANA NOW!
78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How Decentraland Works
When a user acquires a land in Decentraland, it tracks this transaction via the LAND tokens. Users who buys the land becomes the 'landowners' and can enjoy the freedom to create applications on the land they bought and monetize it.
A piece of lot is measured by 16m by 16m and expandable through time. Decentraland is a favorite virtual platform among artists, programmers, gamers, online communities and students who are fond of exploring a 3D world.
If you develop your land well enough, companies may even advertise on it. Also, if your land became popular with digital foot traffic, it can even become the "virtual version" of a New York Times Square.
One example is the recent purchase of Blockchain protocol Bison of a $740,000 land in Decentraland to create a virtual mall that will allow players to buy digital assets they can trade for services and physical goods.
With the explosion of trading assets via the blockchain technology, Decentraland is well positioned to benefit from this development.
History of Decentraland
Decentraland was founded in 2015 by Esteban Ordano and Ari Meilich. The vision of the platform is to build a virtual world running on the Ethereum blockchain where users can buy a 'parcel' of land using the MANA currency.
The developer's idea of Decentraland is to provide a platform and network where content creators can have total control of their creations without the control of other platforms such as social media mediums like Facebook.
In Decentraland, users can transact with content creators directly via a cheaper payment mechanism. Users can communicate in the Decentraland platform through chats and voice messages thus making engaging in transactions with one another easier.
Of the two tokens of Decentraland, MANA is the more widely-used (the other is the "non-fungible" token NFT or LAND which is used to classify ownership right of the purchased land) as it fuels Decentraland's economy. Every service and goods come with a corresponding MANA token value.
An ERC-20 Token, the MANA is set with a limit of 2.6 billion tokens. Similar to other ERC-20 tokens, you can buy, sell and trade MANA.
Note: ERC-20 Tokens are cryptocurrencies used and designed solely on the Ethereum platform.
Using Mana to Buy Other Things Other Than LAND in Decentraland
You can use MANA to trade with other Decentraland users in exchange for services and goods that are hosted within the Decentraland platform.
Who Validates MANA Transactions?
All the transactions, changes and records are verified by the Ethereum blockchain.
How LAND is Valued in Decentraland?
The valuation of land in Decentraland operates almost the same in the real world. It all depends on how you develop your land in Decentraland. If you create engaging content on your land such as a virtual art gallery, an interactive game, more users will be interested in your land. Being located adjacent to popular districts will also help increase the value of your land.
How to Buy Decentraland's MANA?
You can buy MANA at some of the most popular exchanges in the world today for cryptocurrencies. Kraken, Bitfinex and Binance are just a few of the leading ones. For trading purposes, you can also simply open a MANA trade on trading platforms such as eToro.
How to Trade Decentraland (MANA) on eToro?
- On your eToro dashboard, click “Trade Markets”.
- Select “Crypto”.
- Scroll down to look for “MANA”.
- Click “Buy” and set the amount you want to invest.
- Click “Open Trade”.
Does Investing on Decentraland a Sound Idea?
Just like Bitcoin, Decentraland falls into the extreme volatility category. If you plan to hold into a crypto for a long time and can endure the roller-coaster volatility of Decentraland and is trusting of the ever-developing and improving blockchain technology of Decentraland, then you can make a good argument to invest on Decentraland. Similar to Bitcoin, it presents a huge potential for a high reward against its high risk and crazy price swings.
Decentraland is NO Copycat of Bitcoin
Decentraland may be the result of a 'fork' of the Bitcoin code, but it is not a 'copycat' of Bitcoin. This wrong notion added to the confusion of many investors with regards to Bitcoin and Decentraland before. MANA or Decentraland should be seen as its own digital currency and only time will tell if it can be an even better crypto than Bitcoin.
You can store your Decentraland on popular wallets available today. These include the Ledger Nano X and the Ledger Nano S. These are hardware wallets where you can keep your Bitcoins Cash even in offline devices.
Or you can keep your Decentraland on trading platforms such as eToro.
How to Open a MANA Wallet with eToro?
In order to use eToro's MANA wallet service, you will need to transfer a MANA position via the eToro trading platform under your name to the crypto wallet under the same account. The good news is that you won't incur any fees opening a MANA wallet and transferring it to eToro wallet.
Interested now to trade Decentraland?
You don't even need to move a muscle or to a different site for that matter. Clicking on the button below will take you to eToro's MANA trading page and if you want to try it out, you can quickly open an account.
YES, TAKE ME TO ETORO!
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.