THE BASICS: UNDERSTANDING DECENTRALAND
An open-world metaverse developed on the Ethereum network, Decentraland is a software where you can trade LAND digitally. One can explore the virtual world and create avatars, communicate with players, and sell land on the public platform. Decentraland attracts investors from all around the world to trade plots of land and monetize them. From residential homes to museums and office space, the platform has built it all.
Decentraland network utilizes the ERC-721 standard for owner verification of parcels and other accessories in the real-world game. The mechanism is used for NFTs (Non-fungible tokens) where users can trade in-game items for money. The platform aims to create a virtual reality world platform that not only provides profit but also customization through tools, and in-app communication facilities. It is fun to use and is the perfect example of entertainment and business. Firms can invest in it and gain worthwhile profits.
WHAT IS MANA CRYPTOCURRENCY?
MANA is the decentraland’s native currency and has distinct applications. It can be described as a governance token that allows users to vote on the project and its new implementations in the future. Decentralised autonomous organization (DAO) functions this feature and gives the token owner a position to direct the platform and its further projects.
The MANA cryptocurrency has other applications too. It is also used for in-game purchases, trading sale items in the game through the token, which gives it another prominent position on the platform.
HOW TO BUY THE MANA TOKENS
MANA tokens are available on different crypto trading platforms. Binance is considered to be the number one crypto trading platform in order to buy MANA tokens, for better convenience. The token is currently available on more than 15 exchanges platforms including Coinbase, Gemini, and eToro.
EASY STEPS TO PURCHASE MANA CRYPTO TOKEN:
- Start by creating an account on an exchange platform through your email and a strong password.
- After creating the account, email verification is required which is done through a phone number.
- One must make sure to enable two-factor authentication in order to protect the money
- The next step is to deposit the funds on the platform
- Through the Market menu, one can look for the BTC/MANA/USD paid based on the deposited funds.
- Now you are free to buy the token depending upon your price point.
STORING MANA TOKENS
Two ways for storing the MANA tokens:
- Hardware wallets – hardware wallets work best if one wants to store the tokens for a longer period of time. Being highly secure, these wallets eliminate the chances of cyberattacks like hacking as they are offline in nature. Moreover, two versions of the ledger are available that supports MANA tokens storage and are considered the best in the market – Ledger Nano S, Ledger Nano X
- Software wallets – Another option for storing the currency is through software wallets. These wallets are excellent for short-term storage, with the famous one being the Coinbase wallet in the global market.
WHAT FACTORS ARE RESPONSIBLE FOR INCREASING THE VALUE OF MANA TOKEN
Several factors contribute to the fluctuating nature of the MANA cryptocurrency. The primary four factors are:
- Impact of media on users
- Global economic context
- Law of demand and supply
- Legislation in force
SHOULD YOU BUY MANA IN 2022?
A concern that arises as the world is shifting more towards the bitcoin era, should one buy the MANA token in 2022? The MANA currency is functioned under the Ethereum blockchain network and offers maximum security, reliability, protection, updates, and speed. The present community witnesses a positive effect due to the technological advancement in the crypto world. Today, investors believe Ethereum has higher chances of providing profit and it’s the right time to invest in it. The currency has updated its applications and is affordable and reliable.
MANA is the native crypto token of decentraland, built on the Ethereum network. Used for purchasing land plots and other in-app accessories, the token can be stored in the form of both hardware and software wallets. As the world is rising in the crypto sector, strengthening the bitcoin era, updated features along with higher investment profit are guaranteed, which attracts big-scale firms and broadens the industry to a more considerable extent. If you want to grab more information about Bitcoin you need to visit https://www.chesworkshop.org/trading-robots/ to know about crypto bot trading.