Decentraland (MANA) is the 110th largest cryptocurrency by market cap, valued at US$807,914,788.
Decentraland is a highly volatile asset capable of major price swings in a single day. Today MANA is trading for $0.433822 USD, which is lower than yesterday's trading price of $0.4532039939 USD. Over the past year, Decentraland's price has seen a decrease of -19%.
So before you buy Decentraland, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Decentraland.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Decentraland in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Decentraland is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Decentraland
You can now exchange your funds for Decentraland. On beginner-friendly exchanges, this is as simple as entering the AUD or MANA amount you want to purchase and clicking "buy".
Secure your Decentraland
Consider transferring your MANA to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Decentraland in
Australia
Find an exchange to buy, sell and trade MANA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Decentraland guide up-to-date
MANA price data is regularly updated through data feeds so you always have the latest information.
What is Decentraland?
Decentraland is a virtual reality (VR) platform powered by Ethereum that lets users buy virtual plots of land which they can explore, build applications upon and monetise. Creators are able to buy plots of land, mint their own NFTs, or bring in other NFTs from other platforms to deploy onto land that they own. The result is a thriving metaverse of creators, advertisers, merchants, and explorers.
MANA is Decentraland's native cryptocurrency token, which people can use to purchase virtual plots of land and to pay for goods and services in this digital universe. Having been in development since 2015, decentraland is one of the most well-developed VR metaverses in the world.
If you'd like to find out more about how Decentraland works and how you can buy MANA tokens, keep reading.
How do I find the best places to buy Decentraland?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Decentraland?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Decentraland.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing MANA with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Decentraland?
Once you've created an account, you will need to deposit funds to buy MANA with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy MANA:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase MANA by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MANA on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Decentraland?
The easiest way to buy MANA is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying MANA, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Decentraland has been performing recently.
Best Decentraland wallets to store your MANA
You can keep your MANA on the exchange you purchased it on, or move it to a personal wallet:
Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your MANA below.
January 2022: Samsung opened a version of its flagship 837X store in Decentraland for a limited time as it ventures into the Metaverse.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Decentraland a good investment?
Buying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk, such as learning more about Decentraland before buying:
Don't FOMO buy coins: Spend time researching a coin before you decide to invest, particularly if the coin's price is spiking for seemingly no reason.
Stick with well known exchanges: Unless you're an experienced cryptocurrency trader, stick to more well known crypto exchanges to help avoid the possibility of losing your money in a scam. When possible, store your crypto on a hardware wallet instead of on an exchange.
Look into the coin's founders and developers: Anonymous teams are often a red flag, so if you can't find details on the creator of the coin you may want to consider investing in a different cryptocurrency.
Today's Decentraland price versus ATH
Compare today's price of Decentraland ($0.433822 USD) against its all-time-high price of $5.85 USD on 25 November 2021. The closer the bar is to 100%, the closer MANA is to reaching its ATH again.
Decentraland's price: $0.433822 USD ATH date: November 25, 2021
7.42%
Decentraland ATH: $5.85 USD
How to trade, convert or sell Decentraland
You can convert or sell your MANA with the same exchange you bought it through:
Sign in to the exchange you have MANA on.
If you store your Decentraland in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of MANA you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Decentraland.
Complete your transaction and move your MANA to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Decentraland, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MANA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Decentraland or any other cryptocurrency discussed.
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