Buy Decentraland New Zealand – How to Buy MANA in Under 5 Minutes
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Decentraland (MANA) is a community-owned virtual world that runs on Ethereum blockchain, where users can own, develop, and interact in a 3D shared virtual land. As the world becomes increasingly digital the demand for digital space or even properties is inherently increasing in value. Decentraland is currently leading within this niche and since the NFT boom of 2021, its value skyrocketed in the cryptocurrency market.
In this article, we guide you on how to buy Decentraland safely and review a number of brokers to purchase MANA from.
Table of Contents
Best Platform to Buy Decentraland – XTB
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How To Buy Decentraland – Choose a Broker
If you are looking to buy Decentraland, you will first need to choose a suitable online broker that supports MANA tokens. We’ve handpicked the following platforms based on the quality of their services and the costs involved in making a cryptocurrency investment.
- XTB – Overall Best Broker to Buy Decentraland
- Coinbase – Best Crypto Exchange to Buy MANA for Beginners
- Binance – Great Exchange to Buy Decentraland For Liquidity
- Capital.com – Buy Decentraland with 0% Commission
How to Buy MANA New Zealand- The Quick Four-Step Strategy
Are you looking for the easiest and safest method of how to buy Decentraland? If so, look no further. This four-step guide will summarise the process for you and is the easiest way to get MANA added to your portfolio.
- Step 1: Sign up to XTB – If you haven’t already got an account, you will need to register with XTB. Simply go to XTB.com, click join now, enter your email address and create a password. After account creation, the next step is to verify your identity – As a regulated online broker, XTB will ask you for some personal information.
- Step 2: Verify your details – Since XTB is a regulated exchange, allowing you to take advantage of increased protection and security, you are asked to verify your account by providing a photo ID, your Social Security number, and proof of home address.
- Step 3: Fund your XTB account – Now verification is complete, you’ll need to deposit some funds. XTB allows users to deposit using either a credit/debit card, wire/bank transfer, or e-wallet.
- Step 4: Buy your MANA – Once you’ve deposited funds, simply search “MANA”, press the relevant option, and “trade”. Enter the desired amount and click “buy”.
Where to Buy MANA in New Zealand full Broker review
When thinking of how to buy Decentraland – your first port of call is to find a suitable broker that lists MANA tokens. However, finding the right platform requires searching with a fine-tooth comb as there are many factors to consider. This includes user-friendliness, minimum investment required, payment methods, fees, and regulation.
To help you condense the search for the perfect broker, below we list a selection of the best platforms that give you access to Decentraland in a safe and cost-efficient manner.
1. Coinbase – Best Crypto Exchange to Buy Decentraland for Beginners
With 68 million verified users and expanding further, Coinbase is hands down one of the most reputable cryptocurrency exchanges in the world. Not only is it incredibly user-friendly but it makes buying digital assets a simple process for investors at any experience level.
One of the greatest features is scheduled purchases. For instance, suppose that you want to buy MANA tokens at a stake of $100 every week – Coinbase will enable you to schedule the orders, and your instructions will be completed by the platform automatically. Therefore allows you the opportunity to maximize the benefits of the dollar-cost averaging strategy when purchasing Decentraland.
When it comes to security, Coinbase is one of the best. Complying with all current regulations set by each financial authority in all the jurisdictions in which it operates. Moreover, being a Money Services Business registered with FinCEN, and the company has expressed its ongoing commitment to obtaining the relevant licensing to comply with local laws and regulations Worldwide.
Pros
- Supports instant debit or credit purchases
- Ideal for traders of all levels
- Recurring buy feature
- FinCEN registered
Cons
- 3.99% fee charged when using the instant buy feature
- You will pay a standard trading commission of 1.49%
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
2. Binance – Great Exchange to Buy Decentraland For Liquidity
Many traders in New Zealand look to Binnace as their go-to exchange for all their cryptocurrency needs. One of the biggest appeals of this platform is it’s optimal for the active day traders that want access to an abundance of liquidity and markets. Binance offers hundreds of crypto pairs and is home to the largest trading volumes in the digital asset arena.
When it comes to buying Decentraland Coin at Binance, since it does not offer a fiat-to-crypto marketplace on Decentraland Coin you will need to trade it with another digital currency. In order to complete an exchange, you can transfer an accepted currency into your Binance web wallet and make the exchange. This will cost you just 0.1% in trading commission and you won’t be required to provide any personal information – unless you wish to use a credit or debit card.
To add more safety to your cryptocurrency trades, the platform has also made it a requirement to set up two-factor authentication to gain access to your account. As well as the in-house custodial wallet, Trust, to store your Decentraland tokens securely.
Pros
- Two-factor authentication for account access
- 0.1% trading commission
- Custodial wallet included
- High liquidity and markets
Cons
- Not great for newbie investors
- The debit/credit card feature doesn’t apply to all supported markets
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
3. Capital.com – Buy Decentraland with 0% Commission
If you are familiar with cryptocurrency markets, you might be looking to buy Decentraland via a Contracts-for-Differences (CFDS). This product is more suited for those who want to capitalize on the short-term movements of this digital asset. Although CDDS are traditionally complex, Capital.com makes it simple for even beginners to buy and sell MANA CFDs with ease.
This is a great alternative to investing in Decentraland for the long term. Instead, you will be opening and closing positions within shorter spans by targeting smaller profits but placing regular trades. Additionally, Capital.com also allows you to take advantage of leverage by borrowing funds from the broker to open positions that aren’t possible with your current funds. Potentially leading you to multiply your profits drastically but please note that your losses will also be magnified.
Pros
- All markets are tradeable at 0%-commission
- Convenient for Newbies
- Top-rated CFD broker
Cons
- $250 minimum deposit on wire transfers
- Rather basic for experienced traders
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
What is Decentraland Coin?
For those unaware, Decentraland is an online game that allows users to enter and interact with a virtual world. Functionality is not too dissimilar to games such as The Sims and requires little to no technical knowledge to use.
Since its launch last February, the platform has become one of the most popular worlds in cryptocurrency. Contextual, it’s easy to identify why the platform boomed so successfully during the Covid-19 pandemic, which made in-life events impossible. After hosting the famous “Block down” crypto conference in 2020, teaming up with Binnace to sell Masks as wearables to help fight the pandemic, and securing a partnership with Samsung to support NFT and announce its place in the Samsung blockchain wallet. It’s hard to ignore
The exchange has also evolved to offer a range of engaging social events. You can complete tasks alongside your fellow Decentraland communities, purchase land, play games, and obtain digital items – all purchasable using the MANA token which is in the in-game currency of Decentraland.
Decentraland operates on top of Ethernum blockchain technology. Back in 2018, the developers of Decentraland destroyed the keys to the MANA smart contract meaning the team cannot mess with the MANA supply. Combined with the evenly distributed token supply, makes MANA a very robust and fully decentralized cryptocurrency.
How to Buy MANA in New Zealand – Detailed and Explained in Full
After highlighting the key factors to consider when choosing a platform to buy MANA and evaluating the brokers that meet these requirements. Now, we have provided an in-depth guide on how to buy MANA below.
After careful consideration, XTB ranks as the #1 place to buy MANA tokens. With heavy regulation and its low-fee structure, it ticks all the boxes. Therefore, the steps discussed below are explained using XTB.
Step 1: Open an Account with a Broker
The first step when buying any cryptocurrency is to set up an account with a broker. Head over to the XTB website and input your details.
This includes:
- Your full name
- Home address
- Date of birth
- Phone number
Step 2: Verify your Account
You’ll now need to provide your documents. With XTB being a regulated platform, this is standard practice with the most trustworthy exchanges. Upload a photo ID (e.g passport or driving license) and proof of address (e.g utility bill or bank statement).
Step 3: Fund your XTB Account
After your account has been verified, it’s time to deposit funds. You can do so using either a bank card, bank/wire transfer, or by using an e-wallet (PayPal, Skrill, etc). We’ve covered these within this guide to help you decide with ease.
Step 4: Search for MANA
Now you’ve funded your account, it’s time to purchase some MANA. Simply, type in “MANA” in the search bar and select the relevant option.
Step 5: Buy MANA
Finally, enter the amount you want to purchase and it’s time to buy. A wallet will automatically be created for you for the funds to be deposited.
Purchasing MANA – Is it a Good Investment?
At the time of writing, MANA is trading around $0.79, up over an impressive 1,000% on the year. Decentraland certainly has the power to be a force, connecting blockchain with virtual reality. However, it’s argued its future depends on its ability to update and improve. Without this, there is little room for further growth.
The Advantages of Investing in MANA
Low Entry Point:
If you are venturing into the crypto market, then Decentraland has the appeal of a low entry point, great for casual investors. The value of a single MANA token is $0.79 at the time of writing and is forecasted to rise in value by over 700% within the next 5 years.
Largest Virtual Land Sale:
Within every niche, there has to be a ring leader and Decentraland is exactly that. Back in June, a virtual land in Decentraland sold for $913,000. The transaction took 1,295,000 from the total supply of MANA and is the largest land acquisition in the history of Decentraland. If there are more land purchases in the future, less total MANAs would be in circulation. This would lead to potential scarcity which could trigger the price of MANA to new all-time highs.
NFT Art:
One of the most remarkable aspects of Decentraland has to be its collection of NFT Art. Contemporary British artist Philip Colbert waited for the right opportunity to introduce the global audience to his holistic, malleable, and interactive art experience within Decentraland. As well as former DC comic artist José Delbo – who auctioned off Wonder Woman NFT’s, selling more than 914 tokens for over $1.85m. In the long term, this will increase liquidity since products can only be purchased with MANA.
The Disadvantages of Investing in MANA
Infinite Competition in the NFT Space:
With any project gaining traction, you can expect emerging competition to be fiery and Decentraland is no exception. NFT marketplaces such as Axie Infinity, The Sandbox, and Bounce Token pose a major threat to MANA sustaining success. Major player Axie Infinity has a huge trading volume of $101.66 million and is continuing to flourish. These great successes within NFT marketplaces will continue to take a substantial part of the market and in the long term, this does not bode well for MANA if they do not stay on top of trends.
Still In Its Early Development:
Being released to the general public in February 2020 followed by the coronavirus pandemic in March digital currencies, in general, began to decline. Due to the nature of Decentralisand’s technology filling some crucial gaps in the market, it seemed to flourish during this time whilst other currencies plummeted as the result of investors selling shares. However, this is the primary reason why Decentraland cannot be entirely trusted to continue to take the market by storm as it would need time to adapt to the needs and demands of the current market. The platform has already seen some major flops, such as its virtual soccer tournament which failed to make a buzz despite being such a promising event. Therefore with the project still being fairly young, it may not be able to survive in the long term if it doesn’t continue to be innovative within the competitive arena.
Purchasing MANA– How to Pay for It
Now you are facted up on the history and potential of Decentraland you’re probably curious about the different ways to actually buy it and get it added to your portfolio. Below we’ve outlined the top ways to purchase MANA:
Buy MANA using a Credit/Debit Card:
If you are thinking of how to buy Decentraland in the fastest way possible, a debit or credit card payment will certainly be your best option. If buying Decentraland on XTB it will process your deposit at no extra cost – given that you fund your account in US dollars. However, you might have to deal with the ‘cash advance fee’ charged by your service provider. It is always best to check with your provider first to avoid unwanted charges.
Buy MANA Using PayPal:
XTB has also added the option for you to buy Decentraland with PayPal. This is optimal if you’re looking for additional security. Paypal is a customer-oriented company and is likely to side with you in the event of a hack, without the lengthy return time you might experience with a bank.
Alternatively, you can also purchase MANA tokens using other providers such as Neteller or Skrill.
Buy MANA with Bitcoin:
If you already have some Bitcoin stashed away in a wallet, then this can also be used to buy Decentraland. Instead of fiat currencies, you will be exchanging your BTC coins to purchase MANA tokens. The key advantage is that platforms facilitating such investments do not require you to complete the know your customer process, making transactions much faster.
Conclusion
After its great performance so far, Investing in MANA tokens might be an opportunity to diversify your cryptocurrency portfolio. However, with any investment, you should always adhere to the fact that the market for digital assets is largely volatile, unregulated, and often unpredictable. As such, before considering how to buy Decentraland, make sure you thoroughly research the risks as well as the positives of investing to make educated decisions when taking the plunge.
Most importantly, always use a regulated broker like XTB in order to facilitate the purchase of Decentraland. Not only is this platform licensed by multiple authorities, but will also allow you to buy Decentraland for very low prices.
#1 Broker to Buy Decentraland – XTB
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FAQs
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