Buy Decentraland(MANA) coin in India — Step by Step guide for beginners
How to Buy MANA(Decentraland) Coin in India?
What is the MANA coin?
Mana is one of the most specified altcoins out there. The coin is used as currency in a digital reality game known as Decentraland. While it may appear unusual that in-game money is being traded for mainstream currency, Mana prices have skyrocketed over the last few months.
The versatility of blockchain has driven a wide variety of creative and innovative projects. Some of them, like Bitcoin or Bitcoin Cash, are a broadly implemented form of cryptocurrency. Others, however, hold a much narrower niche.
Key features of MANA coin
- Decentraland is like a virtual world game, but with the help of decentralization you have a lot more control over your content and there are even business opportunities. So that means no one can kick you out, censor, or limit what you do.
- You can buy and sell Decentraland real estate via their online marketplace in live auctions.
- Decentraland will eventually become explorable via a virtual reality headset, but whilst it’s still in the beta mode it’s just a 3D map for now.
How to buy Decentraland(MANA) Coin in India?
MANA Coin is available for purchase on all major exchanges. All pairs of cryptocurrencies, fiat currencies, and stable coins are accessible. BuyUCoin, which has one of the greatest MANA-INR trading volumes in India, is the best place to buy Decenerland(MANA) in India.
It involves a five-step process. First and foremost, after opening the digital wallet, the account must be registered. Users must complete Google 2-Step Verification after completing the KYC process, followed by providing bank information, before they may begin investing in Decenterland(MANA).
Buy Decentraland(MANA) Coin in India — Step by Step Guide For Beginners
Step 1 — Open a Digital Wallet
A digital wallet houses your cryptocurrencies and uses blockchain technology to communicate with other citizens. It is important to make in-depth research before you decide what one is best for you, however, there are several providers of digital wallets. Today, BuyUcoin is the leading digital wallet provider.
Step 2 — Register & Open an Account
When you enter the BuyUcoin Signup account, register and open a service account. Choose your person or company form of account. Choose your country and adhere to the terms and conditions of your crypto-trading account.
For the Indian jurisdiction, KYC and AML are compulsory. Your data are secure and encrypted and stored only in Indian data centers. To complete your KYC, you are redirected to another URL. With your last selfie, please be ready. Pictures of your pan card will be required. The mobile number connected to your Adhar is important.
Step 4-Google 2 step Verification
To use 2FA, the Authenticator app must be enabled on your smartphone or tablet. If enabled, any time you log in to your BuyUcoin account, you will be asked to include a 6- digit one-time password with your email and password. This only functions when an email and password are entered.
Step 5-Add Bank details
Add your name credentials, the account name of the holder, and the IFSC code information.
Trade Decentraland(MANA) coin
Decentraland(Mana) is in the top 100 altcoins in terms of market cap, it’s still pretty obscure. Therefore, you’re not going to find it on cryptocurrency exchanges that have minimal exposure to altcoins. Your best bet would be BuyUCoin, which boasts one of the largest altcoin collections among cryptocurrency exchanges, or Coinbase, which just recently added Mana. Other exchanges that list Mana include Kraken, Bittrex, CoinSwitch, and Bitfinex.
Can I Use Regular Money to Buy Decentraland(MANA) Coin?
Yes, you can use regular money or any fiat currencies such as MANA-INR, buy Decentraland(Mana) Coin in India where Decentraland(Mana) Coin can be stored in your wallet with a single tap to buy or sell your desirable cryptocurrencies without any hidden transaction fees using one of India’s leading cryptocurrency exchange BuyUcoin.
Getting a Decentraland(MANA) Coin Wallet
BuyUcoin is a multi-currency crypto wallet where Decentraland(Mana) Coin can be stored with high-end security features where cold storage wallets are used. Hardware wallets are the most secure wallets and if you want to store a lot of wealth in your wallet it is strongly recommended because they add an extra level of safety.
Decentraland(MANA) Coin Exchanges
If you want to buy Bitcoin for Mana, an exchange called BuyUcoin is one choice. You can even buy Decentraland(MANA) using a credit card or debit card with an easy-to-understand interface. When you register, BuyUcoin requires your ID and address. This conforms to the anti-money laundering (AML) legislation and knows the legislation of your customer (KYC).
ID checks are considered the best methods by many exchanges, although technically not a legal requirement in most countries. It helps avoid the use of exchanges for criminal activity. But there are legitimate reasons why your ID should not be revealed to a trader who is aware of the trade and privacy.
Since Aug. 2020, Mana prices have risen from just $0.05 to as much as $0.40. Right now, Mana’s total market cap is around $650 million, making it the 91st largest altcoin by market valuation.
Most of Mana recent price increase has come thanks to the jump in bitcoin. Like most altcoins, Mana follows mainstream cryptocurrency prices. As long as bitcoin keeps rising, Mana’s price is set to grow as well.
It wouldn’t be surprising if Mana hits $1. Whether it will continue to climb after that or correct is anyone’s guess. However, given that Mana’s real-life utility is limited to a blockchain-based virtual world, its longevity might be questionable. There are other altcoins out there tackling real-world issues that seem much more likely to stick around.