Decentraland is a virtual reality platform that is built on the Ethereum blockchain and allows users to generate, participate in, and monetize applications and content. Decentraland offers two tokens, MANA (ERC-20 token) and LAND (ERC-721). Decentraland raised $24 million from its ICO (initial coin offering) in 2017 and has since reached a market cap of over $1bn. But why should you invest in Decentraland in 2021?
If you’re wondering how to buy Decentraland in the UK, this beginner’s guide has everything you need to know!
#1 Broker to Buy MANA – eToro
How To Buy Decentraland – Choose a Broker
The easiest way to buy decentraland in the UK is through an online trading platform or crypto exchange. This raises the question of how do you choose the right provider that suits your trading goals?
To answer this question, we’ve handpicked five of the best online brokers and cryptocurrency exchanges that allow you to buy MANA in the UK on a budget.
- eToro – Overall Best Broker to Buy MANA UK
- Coinbase – Best Crypto Exchange to Buy MANA for Beginners
- OKEx – Best Low-Cost Exchange to Buy MANA UK via a Crypto Deposit
- Binance – Best Cryptocurrency Exchange to Buy MANA with Low Commissions
- Gemini – Top US-based crypto exchange to earn up to 7.4% interest on your digital assets
Keep reading this guide for in-depth reviews of each of these top-rated crypto trading platforms!
How to Buy MANA in the UK – A Quick Guide For 2021
If you want to buy Decentraland in a matter of minutes take a look at how to buy MANA in four simple steps:
- Step 1: Open a brokerage account with FCA-regulated eToro
- Step 2: Account Verification – As part of the KYC process you will need to upload proof of identity and address.
- Step 3: Fund your Trading Account – Depositing funds into your eToro account is easy and fully digital. Simply choose from a range of payment methods such as a credit/debit card, bank transfer, or via PayPal.
- Step 4: Buy MANA – Type ‘MANA’ into the search bar at the top of the screen, tap on ‘Trade’ and enter your preferred investment amount in USD.
Finally, you can buy MANA coins by clicking on the button marked ‘Open Trade’. You can also store your MANA tokens securely in the eToro Money crypto wallet. At eToro you can buy, sell and store 17 of the most popular DeFi coins and tokens with the highest liquidity, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), as well as crypto-to-crypto trading pairs including Ethereum-EOS (ETH/EOS); Ethereum-stellar (ETH/XLM); Ethereum-Bitcoin (ETH/BTC); Bitcoin-EOS (BTC/EOS); Bitcoin-Stellar (BTC/XLM); and EOS-stellar (EOS/XLM).
Crucially, you can buy MANA coins on eToro with a minimum investment of just $25!
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Where to Buy MANA in the UK
The internet is saturated with hundreds if not thousands of online brokers and crypto exchanges all offering the best fees and services. So how do you filter out the good, from the bad and the ugly?
To smoothen out the decision-making process, we’ve identified the five best brokers and exchanges to buy MANA in the UK so that you don’t have to.
1. eToro – Overall Best Broker to Buy Decentraland UK
Launched in 2006, eToro is by far the best broker to buy MANA in the UK with 0% commission and tight spreads. This social trading platform provides a user-friendly and streamlined trading experience with an intuitive web-based platform, as well as a convenient mobile trading app. At eToro, you can open an account, deposit funds, and buy MANA and other cryptos in a matter of minutes from the comfort of your own home.
Since its launch in 2006, eToro has become home to more than 20 million users worldwide. One of the broker’s best selling points is its fee rate structure. At eToro you can trade forex, CFDs, cryptos and more on a commission-free basis. The only trading fee you have to pay is the difference between the bid and ask prices, otherwise known as the spread. When it comes to non-trading fees, these are also very low with no deposit or account fees to worry about. On the flip side, there is a $5 withdrawal fee and a $10 inactivity fee after 12 months of non-use.
What is copy trading? Another feature that separates eToro from the rest is its copy trading features. If you’re the type of trader who’s looking for a hands-off approach to online trading then eToro’s CopyTrader and CopyPortfolios are for you. With these two innovative features, you can copy the trade strategies of other experienced investors with the click of a button. CopyPortfolios allows you to invest in a theme or a portfolio of seasoned eToro investors. The minimum investments for CopyPortfolio and CopyTrader are $5,000, and $200 respectively.
If you’re wondering about what payment methods are accepted, eToro supports a range of payment options including credit/debit cards, bank transfers, and e-wallets (PayPal).
Is eToro safe? eToro is regulated by several top-tier financial authorities including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). Furthermore, according to eToro, it holds 90% of all client funds in segregated bank accounts, as well as providing negative balance protection.
Pros
- Trade 17 of the most popular cryptocurrencies with market-leading spreads
- Access stocks listed on 17 international markets with 0% commission
- The minimum investment when buying cryptos is just $25
- Regulated by the UK’s FCA, CySEC and ASIC
- eToro supports a variety of payment methods for your convenience
Cons
- USD is the only available account base currency
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
2. Coinbase – Best Crypto Exchange to Buy MANA for Beginners
Coinbase is one of the biggest cryptocurrency exchanges, according to coinmarketcap.com, with a market capitalization of $47.92 billion and an average
daily trading volume of over $1.4 billion. Coinbase (NASDAQ: COIN) made a blockbuster IPO (initial public offering) on the NASDAQ exchange in April 2021, raising $500 million from shareholders, who valued the crypto exchange at $8 billion.
When you buy and sell cryptos on Coinbase, you will have to pay a typical spread of 0.5 pips. This variable spread depends on the asset and the market conditions. Along with the spread, there is the Coinbase fee which is the greater of either a flat fee or a variable percentage fee based on the region, asset type, and payment method.
Coinbase accepts a variety of payment options for deposits and withdrawals, including debit cards, cryptocurrencies, and bank transfers. A UK bank transfer can be used to avoid the high 3.99 percent Coinbase fee on debit card deposits and transactions. Given that you will have to wait a few days for your deposit to be processed, the process is simple and fully digital.
Is Coinbase a secure platform? Coinbase complies with all current regulations set by each financial authority in all the jurisdictions in which it operates. Another factor to consider when evaluating Coinbase’s security is that it is listed on the NASDAQ exchange, which means that its financial records are available to the general public. Coinbase is also a Money Services Business registered with FinCEN, and the company has stated its ongoing commitment to obtaining the relevant licencing to comply with local laws and regulations.
Pros
- User-friendly crypto exchange platform ideal for beginners and advanced traders
- Streamlined account opening process
- Supports debit cards and bank transfers
- No inactivity fees & $0 minimum deposits
- Registered as a Money Services Business with FinCEN
Cons
- 3.99% fee charged when using the instant buy feature
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
3. OKEx – Best Low-Cost Exchange to Buy MANA UK via a Crypto Deposit
OKEx is a widely popular cryptocurrency exchange that was launched in 2014 by Star XU. OKEx’s native token is called OKB and can be used to offset other
trading fees. Serving more than 20 million traders, OKEx allows you to buy decentraland with ease. Moreover, if you already own a crypto asset you can deposit it into the OKEx crypto wallet and trade it for other cryptocurrencies of your choice.
If you plan to trade crypto-to-crypto pairs then you will not be required to undergo the KYC process. In other words, you can buy MANA and heaps of other cryptos in the UK while keeping your anonymity intact. When it comes to trading fees, OKEx charges a variable commission of 0.10% per slide. This means that you will pay 0.10% commission when opening a position and again when you close the trade.
OKEx also provides access to several crypto-to-crypto pairs such as MANA/USDT, MANA/BTC, MANA/ETH, and its native token OKB-based pairs including LTC/OKB, ETC/OKB, and XRP/OKB. The selection of cryptos on OKEx is vast to say the least, so even the most advanced crypto enthusiasts and traders will have something to sink their crypto-teeth into.
OKEx also allows you to buy cryptos with fiat currency deposits. So for traders looking to buy Decentraland in the UK with a debit/credit card or bank transfer you can do so on OKEx. The spot fees at OKEx are based on a tiered maker-taker structure. Simply put, the maker-taker model gives a transaction rebate to market makers supplying liquidity, and charges a transaction fee to traders who remove liquidity from the market.
| Tier | Total OKB holding | 30-day trading volume(USD) | Maker fee | Taker fee | 24h withdrawal limit (BTC) |
| Lv 1 | < 500 | < 5,000,000 | 0.080% | 0.100% | 500 |
| Lv 2 | ≥ 500 | < 5,000,000 | 0.075% | 0.095% | 500 |
| Lv 3 | ≥ 1,000 | < 5,000,000 | 0.070% | 0.090% | 500 |
| Lv 4 | ≥ 1,500 | < 5,000,000 | 0.065% | 0.085% | 500 |
| Lv 5 | ≥ 2,000 | < 5,000,000 | 0.060% | 0.080% | 500 |
Is OKEx safe? OKEx is committed to providing the best security for its clients. Here are some of the security features you can find on OKEx:
- Google Authenticator
- Mandatory 2FA
- Anti-phishing code
- Mobile verification
- Login password
- Email verification
- Funds password
OKEx’s service provider is Aux Cayes FinTech Co. Ltd, which is registered with the Seychelles Financial Services Authority (FSA). However, because OKEx is not regulated by the Financial Conduct Authority, UK-based clients are not protected by investor protection schemes such as the Financial Services Compensation Scheme (FSCS).
Pros
- Interact with other OKEx traders via social media groups like Facebook and Twitter
- Trade cryptos with a variable commission of 0.10% per slide
- OKEx also accepts fiat currency deposits
- Access a wide range of 150 cryptos
- Store your digital assets in OKEx’s SA secure crypto cold wallet
Cons
- Not regulated or authorized by the FCA
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
4. Binance – Best Cryptocurrency Exchange to Buy MANA with Low Commissions
Binance sits amongst the largest cryptocurrency exchanges with an average 24-hour volume of $13bn. Established in 2017, Binance is based in the Cayman Islands and is now home to more than 15 million clients.
What are the costs when trading on Binance? When compared to its rivals, Binance offers low trading fees. The spot trading fee is just 0.1% and the instant buy/sell fee is set at 0.5%. BNB is the native DeFi token of the Binance ecosystem, and the exchange incentivises clients to use BNB tokens by offering discounted trading fees. The account minimum is just $10 with wire transfers, ACH deposits and debit cards as accepted payment options.
Binance accepts both fiat and crypto deposits depending on your location. Furthermore, you can choose from a variety of payment options including cryptos, credit and debit cards, and bank transfers. In terms of non-trading fees, UK-based traders will be charged a 1.8% fee when depositing funds with a debit/credit card. On the flip side, when you deposit cryptocurrency you will only face the blockchain fee on your side of the transaction.
Binance uses a maker-taker fee model. But what are market makers and market takers? In Layman’s terms, traders act as either makers or takers depending on whether they provide liquidity and boost the depth of the order book, or if they take this liquidity on. Maker and taker fees are also referred to as payment for order flows.
Is Binance safe? Just last month the FCA ruled that the popular cryptocurrency exchange cannot conduct regulated activity in the UK. The market watchdog’s decision can be interpreted as a strong warning about the dangers of investing in cryptocurrencies. While the FCA cannot prevent traders from buying and selling cryptos, it is concerned that both decentralized and centralized crypto exchanges are being used as a scapegoat for illegal activity such as money laundering and online fraud.
Binance has come under review from other financial regulators over its international operations. In the US, Binance Holdings has come under fire from the US Securities and Exchange Commission, with most of the attention being directed at money laundering and tax offences.
When it comes to security features, Binance encourages its users to complete the identity verification process as it allows you to withdraw a larger amount of money, while also safeguarding your account from hackers and thieves claiming ownership of your identity.
Pros
- Facilitates the highest recorded daily trading volumes above $13bn
- Buy and sell 50+ cryptos
- Market-leading trading commission as low as 0.1% per slide
- User-friendly platform with high liquidity levels
- Debit/Credit card, local bank transfer deposits accepted
Cons
- Has been banned from conducting regulated activities in the UK.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
5. Gemini – Top US-based crypto exchange to earn up to 7.4% interest on your digital assets
Founded in 2015, Gemini is a US-based cryptocurrency exchange that offers access to Bitcoin, Ethereum, and 40 other altcoins. Gemini is one of the only
providers to offer several platform options based on your experience level. Beginner crypto traders will appreciate the user-friendly interface and the mobile trading app. More advanced traders, on the other hand, will feel more at home with the ActiveTrader platform.
Gemini also offers multiple products ranging from fully-fledged mobile apps to its proprietary Gemini wallet. You can use the Gemini deposit addresses to store your cryptos in either the insured hot wallets or the institutional-grade cold wallets.
When it comes to fees, Gemini offers a range of fee schedules based on product and usage levels.
| Mobile / Web Order Amount | Gemini Transaction Fee |
| $0 – $10 | $0.99 |
| $10 – $25 | $1.49 |
| $25 – $50 | $1.99 |
| $50 – $200 | $2.99 |
| $200+ | 1.49% of your mobile order value |
All orders placed on the Gemini mobile and web platform come with both a convenience fee and a transaction fee. For instance, let’s say you decided to buy £700 of BTC at a market price of £10,000. When placing your order your quoted price will be £10,050 per Bitcoin because of the 0.5% convenience fee.
Now let’s take a brief look at Gemini’s deposit fees:
- All cryptos, ACH transfer, Gemini dollar – No deposit fees
- Wire transfer – No deposit fees
- Debit card transfer – 3.49% of the total purchase
Is Gemini safe? Security and regulations are at the forefront of Gemini’s design and business philosophy. Gemini is a New York Trust company that undergoes regular bank checks and complies with the cybersecurity regulations set by the New York Department of Financial Services. Gemini is the first crypto exchange to complete SOC 1 Type 2 and SOC 2 Type 2 exams. Gemini is also ISO 27001 certified. When it comes to account security to log in or make withdrawals you will need to use a 2FA (two-factor authentication). This crypto exchange also supports Hardware Security Keys via WebAuthn for added layers of security to protect your crypto account from targeted cyber attacks.
Pros
- Choose a trading platform based on your trading experience
- Buy, sell, and trade 40+ cryptos
- 24/7 customer support
- Earn up to 7.4% interest on your crypto
- Heaps of resources including webinars, real-time news, FAQs and more
Cons
- Gemini charges a commission and a 0.50% Convenience Fee when you trade via the desktop or mobile app
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
How to Buy Decentraland in the UK – Detailed & Explained in Full
In this segment of our beginner’s guide we’ll cover how you can buy Decentraland in the UK in less than 5 minutes with eToro.
Step 1: Open a Trading Account
To buy MANA you will first need to visit the eToro.com website and click on ‘Join Now’. This will take you to an online form where you can enter your personal details such as your name, email address, and phone number.
After that, you’ll be asked for some extra information, such as your social security number and address. Finally, once you’ve verified your phone number the account registration process will be completed.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Verify your account
As part of the KYC process you will be required to upload proof of identity and address, such as a passport, driver’s licence, utility bill, or bank statement issued within the last six months. KYC regulations are put in place to combat money laundering and financial fraud.
The verification process can take up to two business days, and you will be contacted when your eToro trading account has been verified.
Step 3: Deposit funds into your account
When it comes to depositing funds, the minimum first deposit is $200, which thereafter becomes just $50. In terms of processing times, buying MANA in the UK with a debit/credit card or an e-wallet like Skrill, PayPal, or Neteller is the quickest option.
These payment methods are instant, so you won’t have to wait 4-7 days for funds to be credited to your account like you would with a bank transfer. Depositing funds into your eToro account is convenient and safe as all transactions use SSL (Secure Socket Layer) technology, which helps to protect your personal data.
At eToro, while there are no deposit fees or account fees, there is a $5 withdrawal fee as well as a $10 inactivity fee after 12 months.
Step 4: Search for Decentraland
Once you have successfully deposited funds into your eToro brokerage account you can go ahead and search for ‘Decentraland’ or ‘MANA’ in the search bar.
Step 5: Buy Decentraland UK
When you click on the ‘Trade’ button next to the relevant result in the list you will have access to a MANA buy order window, as shown in the image below. Now simply enter your preferred investment amount, keeping in mind that the minimum investment for cryptos on eToro is $25.
A $25 investment in MANA on eToro will currently get you 35.44 units, or 0.03% of equity. Lastly, click on the ‘Open Trade’ button at the bottom of the order box to buy MANA in the UK with 0% commission on eToro.
Buy Decentraland – Best Place to Buy MANA in the UK
What makes a cryptocurrency exchange different from a cryptocurrency broker? Understanding the key differences between both platforms will help you to choose the right one for your investment goals.
Online Cryptocurrency Broker
A regulated online crypto broker, like eToro, is the best place to buy MANA in the UK because it offers 0% commission trading in an FCA-regulated environment.
- Additionally, eToro users have access to a range of payment methods such as debit/credit cards, bank transfers, and e-payments including PayPal.
- Regulated online brokers comply with the latest standards and regulations designed to prevent and combat money laundering and online fraud.
An added advantage of buying and selling DeFi assets via an FCA-regulated broker is that you will have access to innovative features such as CopyTrader and CopyPortfolio. In other words, online trading platforms provide easy access to supplementary trading features and tools to help enhance your crypto trading experience.
Furthermore, eToro also supports CFD trading, forex trading, and commission-free ETF trading. Therefore, aside from crypto trading you can also diversify your investment portfolio with other popular stocks and tradable assets using the same trading account and platform. In summary, online brokers such as eToro have everything any successful trader needs all in one place.
Cryptocurrency Exchange
Crypto exchanges allow you to buy, sell, and store cryptocurrencies online. Some crypto exchanges offer a range of services and crypto products, while others only facilitate the buying and selling of crypto assets. Decentralized crypto exchanges (DEXs) are not managed by centralized third-party authorities, are open source, and facilitate peer-to-peer trading. Additionally, DEXs also demand greater technological skill and knowledge of digital assets in comparison to centralized crypto exchanges and regulated trading platforms.
Crypto exchanges match buyers with sellers. As is the case with traditional bank accounts, to buy and sell on the majority of exchanges you will need to open an account and complete the KYC process. This is to help combat money laundering and online fraud.
Crypto exchanges are required to register with the Financial Conduct Authority in the UK to conduct business. Recently, the FCA has banned Binance from conducting any regulated activity in the UK. There have been consequences as a result of the FCA’s move, such as Mastercard preventing its clients from sending funds to the crypto exchange. With this in mind it’s important to carry out thorough investigations before opening an account with an unregulated crypto exchange in the UK.
Ways to Buy MANA UK
Buying Decentraland in the UK can be done in several ways and we’ll explore some of the safest and most convenient ways to buy MANA with a popular broker or exchange.
Buy MANA with a Debit Card
If you have access to a Visa or Mastercard debit card, this is by far one of the best ways to buy MANA in the UK. To buy cryptos with a debit card the broker or exchange must be regulated and needs to comply with KYC.
You can buy Decentraland’s MANA coins with a debit card via all five of the brokers/exchanges covered in this guide. eToro is the cheapest option across the board, with a typical conversion fee of 50 pips, and zero deposit or account fees.
Buy MANA with a Credit Card
For those who prefer to use a credit card for all online transactions, you might be surprised to learn that buying Bitcoin and other popular altcoins such as MANA with a credit card could be complicated. If you attempt to, you could be restricted by the exchange itself or by your credit card issuer.
For instance, some crypto exchanges like Coinbase do not support credit cards as payment options, while some crypto exchanges only accept Visa and Mastercard credit cards. However, even if the crypto exchange accepts credit cards that is not a guarantee that the credit card company itself will allow you to send funds to a cryptocurrency exchange.
In addition to the service fee, the exchange may charge a credit card fee. For example, the crypto exchange may charge you a fraction of the transaction total to trade fiat currencies for Bitcoin or other altcoins. Let’s say that a crypto exchange charges a 3.99% credit card transaction fee. This means that for every £100 worth of cryptocurrency you buy, you’ll pay £3.99 in credit card fees, leaving you with £96.01. In terms of an investment, you’d have to make a 4% return just to break even.
Buy MANA with a Bank Transfer
If you are willing to wait up to 7 business days for your funds to be credited to your account you can also buy Decentraland in the UK via a bank transfer. This option is ideal for traders on a budget as most brokers do not charge a fee for bank transfer deposits.
At eToro you can make deposits via online banking – Trustly, as well as Rapid Transfer which do not require any additional registration processes and the processing times are instant. Bank transfers take 4-7 days to process on eToro.
Buy MANA With PayPal
If you want to buy MANA in the UK with the online payments system – PayPal, then you can do so on eToro. Additionally, you can deposit and withdraw funds via other e-wallets including Neteller and Skrill.
Buying MANA with PayPal on eToro is fairly straightforward. Just create a trading account, specify your deposit amount, and choose PayPal as your payment method. When the payment is complete, you can go ahead and invest in Decentraland with the click of a button.
Buy MANA with Bitcoin
Most altcoins cannot be bought with USD, meaning that you’ll need to purchase Bitcoins (BTC) and exchange them for altcoins of your choice on a crypto exchange or online broker. Keep in mind that your Bitcoins will be exchanged for MANA. When you’re ready, just head over to the exchange of your choice and open a position on your preferred digital asset, which in this case is Decentraland.
After the transaction is complete your cryptos will be stored on the exchange or trading platform. If you’re a long-term investor and want to hold your cryptos, we recommend storing them in a secure hot or cold crypto wallet such as the eToro Money crypto wallet.
Why Buy Decentraland UK?
Is it a good time to invest in virtual land in the Decentraland metaverse?
Decentraland started grabbing headlines in 2018, when investors began earning profits of more than 500% from buying and selling virtual land. Since then the Decentraland metaverse has continued to grow and develop.
Built on the Ethereum blockchain, Decentraland has set the trend as the first and most widely accepted multiplayer role-playing digital universe. Despite not being able to visit physically, you can invest in and sell digital land in the Decentraland metaverse – and usually make substantial profits in doing so.
What separates Decentraland from previous renditions of virtual worlds is that all areas (referred to as LAND) can be bought, sold, and developed by Decentraland’s users with MANA ERC-20 tokens. MANA is the native token of Decentraland and can be burned to claim LAND in addition to making in-game purchases. When you buy a plot of digital land it is documented on the Ethereum blockchain which makes them easily transferable and helps to combat fraudulent activities.
Why does buying digital land appeal to investors?
Decentraland’s success is dependent upon a strong community of loyal and dedicated users. In the same way that ‘normal’ real estate works, the thing that gives digital land its value is not just its location in the metaverse, but how the digital landowners choose to develop it. Speculation over what can be created in the metaverse drives MANA and LAND sales.
Attracting users to digital land in the Decentraland metaverse is achieved by creating incentives such as interactive games, unique and relevant content, virtual art, offering opportunities to meet new people, and money to win in gambling and other online games. The most popular developments in the digital landscape are:
- Platforms such as art galleries that are used to present and sell virtual NFT art.
- Casinos where users can gamble to win MANA tokens
- Interactive game sites
- Third-party content, including the recent merger with Atari arcade which will allow its games to be played in the Decentraland universe.
- Music venues where users can attend music concerts hosted by famous DJs and pop stars.
With more real-world businesses joining the Decentraland metaverse, digital real estate in this crypto-based virtual reality is likely to continue rising in value. For example, land in Decentraland that sold for $500 in 2019 is now worth just under $8,000.
The Cost of Buying MANA
You will have to pay fees when buying MANA in the UK, in the same way that you would when buying stocks or ETFs. The two key fees you need to consider when opening an account with your preferred broker include:
Deposit fees
Deposit fees vary based on the payment method used and the platform’s fee rate structure. eToro offers USD as the account base currency and therefore does not charge a fee for USD deposits. EUR, GBP, AUD, RMB, THB, IDR, MYR, VND, PHP, SEK, DKK, NOK, PLN, and CZK are among the 14 fiat currencies accepted by the copy trading platform. When you deposit in anything other than USD eToro charges a 0.5% conversion fee.
Trading Fees & Commissions
When you buy and sell any kind of tradable asset you are likely to encounter some form of trading fee and/or commission. eToro allows you to trade 17 cryptocurrencies without having to pay a penny in commissions. The only fee you will have to pay is the difference between the bid and ask prices, commonly known as the spread.
For instance, when buying MANA on eToro you will pay a 4.9% spread. Cryptoassets can be stored in the secure eToro Money crypto wallet. eToro’s proprietary crypto wallet is one of the most secure across the board, with multiple security features to safeguard against unauthorized access, such as ‘multi-signature facilities, DDoS protection, and standardisation protocols.’
Risks of Buying MANA in the UK
Cryptocurrencies are speculative financial instruments, and given their decentralized structure, they are highly sensitive to investor sentiments. Therefore, before investing in MANA in the UK make sure you assess the following risks:
Volatility
Crypto volatility, according to most analysts, is in a league of its own. Although there are no indices to measure crypto price volatility, taking a glance at historical price charts shows us that crypto prices experience higher peaks and lower troughs at a faster and more intense rate than traditional assets.
It’s still too early to say when or even if the crypto market volatility will level out as the conventional markets have. However, as the DeFi ecosystem develops, such volatility is expected to continue until cryptos have a secure foundation in the financial system and receive more funding from institutional investors.
Regulations
While cryptocurrencies are not regulated by financial authorities, online brokers and crypto exchanges must register with them. Due to increased worries about money laundering and a lack of client fund safety, the UK’s Financial Conduct Authority has recently cracked down on crypto trading platforms.
With this in mind, we recommended eToro as the best place to buy MANA in the UK in 2021 as it is regulated by the FCA, CySEC, and ASIC. As such eToro users trade with confidence knowing that their funds and accounts are protected by centralized regulators and investor protection schemes such as the UK’s Financial Services Compensation Scheme (FSCS) which covers funds up to £85,000 should the broker go into insolvency.
MANA has Competition
Decentraland is not the only under-the-radar altcoin that is gaining traction. Here are some examples of MANA’s top competitors in the DeFi sector:
- CryptoKitties
- Xaya
- TSB
- SKALE Labs
- Tendermint
- Ethereum
- Enjin
- Optimism
- Immutable
- Aion Network
Selling MANA: A Quick Overview
When you buy MANA in the UK the long-term trade strategy is to sell them at a later date to make a profit.
For example:
- Let’s say you bought 100 MANA tokens at £4 each
- This means that your total investment is £400
- A few months later and the price of MANA rises to £8 and you decide to sell for a profit
- You have 100 MANA tokens which means that you would make a profit of £400.
Trading cryptos on the eToro platform is easy. Here’s how you can trade crypto assets on eToro from the comfort of your own home:
- Login to your eToro live trading account
- Click on Trade Markets to access the entire list of supported cryptocurrencies
- Choose your preferred crypto and click on Trade
- Click BUY
- Set the leverage to X1 if you want to take ownership of the underlying asset, otherwise set it to X2 to increase your leverage and trade the asset’s price movements via a CFD (Contract for difference).
- Enter your investment total
- Place a Take Profit order if necessary
- Finally, click on Open Trade
How to Buy Decentraland UK – Conclusion
In 2020, the NFT (non-fungible token) market experienced record-breaking growth, and this rate of expansion has carried on into this year. News outlets have reported unprecedented transactions, including Beeple’s virtual NFT piece that sold for more than $68 million. As more people invest in NFTs, metaverses such as Decentraland gain more exposure and purpose.
If you want to buy MANA in the UK today then we recommend eToro. Authorized by several financial regulators and home to more than 20 million traders, this social trading platform allows you to invest in MANA and 16 other popular cryptos with 0% commission and competitive spreads. Furthermore, you can also use eToro’s passive copy trading features to copy the trades of other experienced investors with the click of a button.
To start trading MANA on eToro simply follow the link below and open a trading account today!
