This guide explains how to buy MANA with USD in 4 simple steps. Other options are also mentioned. Before we begin, let’s learn a little bit about Decentraland.
What is Decentraland?
Decentraland is a virtual reality world built on the blockchain. It’s often phrased as, “the first virtual platform owned by its users.”
This world includes limited land-space which users can buy with MANA. You can also use MANA to buy digital goods and services. You will be able to enter Decentraland via VR headset, desktop browser, and mobile device.
MANA is an ERC20 token while LAND is issued as a non-fungible token (ERC721). MANA can be burned or spent to acquire LAND tokens. Check out the marketplace to look at land parcels and estates for sale. MANA was distributed during an ICO in August 2017. The ICO raised $24 million USD.
Let’s begin the 4 step process for buying MANA with USD.
First, you will need to go to Coinbase to purchase ETH with USD. The signup process is relatively quick. Using a credit card is the fastest payment method available.
Before you begin the next step, make sure you withdraw the ETH to your personal wallet. If you don’t know which wallet to choose, this guide might help you out.
Buying Bitcoin on Coinbase is an alternative option, but MANA is an ERC20 token. You will be able to store MANA in your Ethereum wallet. It’s also important to remember that ERC20 tokens use ETH as gas. You won’t be able to move the MANA from your wallet without a small amount of ETH.
Now it’s time to head to Switchain. You can swap your ETH for MANA without making an account. Just select MANA from the list of assets to begin.
Accept the exchange rate to go to the next step.
The page should look like this:
Input your MANA address and a refund address for your ETH. These addresses can be the same if you choose to put the MANA inside the same Ethereum wallet.
The next page will prompt you to send ETH to a specified address.
Send the ETH. MANA will automatically be deposited into your wallet. It will only take a few moments.
A confirmation page will appear after the swap is complete.
That’s all it takes!
You can also use your ETH to buy MANA on decentralized exchanges like IDEX or EtherFlyer. Some decentralized exchanges don’t have a signup process, but trading is a little more complicated for beginners. You will still need to acquire ETH from Coinbase or elsewhere.
Another option would be a custodial exchange. Binance is one of the best examples. They offer a more complete interface but signing up for an account is a requirement. OKEx is another example of this kind of exchange. You will need ETH, or a different crypto, before trading on these exchanges.
Switchain is an instant non custodial cryptocurrency exchange. Our user user-friendly platform makes trading crypto easy and fast. We work with different cryptocurrency trading partners to guarantee the best cryptocurrency rates to our clients.