Key Takeaways
- Decentraland is a 3D virtual reality platform where users can purchase and develop virtual land using MANA tokens.
- To participate in Decentraland, users need to purchase LAND tokens on the Ethereum blockchain, which represent parcels of virtual space.
- CoinSpot is a recommended cryptocurrency exchange in Australia for buying MANA, offering a secure and trusted platform with a wide range of supported cryptocurrencies.
- The process of buying MANA on CoinSpot involves signing up, verifying the account, depositing money, navigating to the buy section, selecting the desired amount of MANA, confirming the purchase, and storing the MANA securely in a wallet.
Decentraland is a 3D virtual reality platform that runs on the Ethereum blockchain. It consists of parcels of virtual land that users can purchase and develop. Therefore, the platform gives developers the power to design interactive experiences powered by smart contracts.
The goal is to create a shared virtual world where everyone is free to buy and sell content within the limits of a crypto economy. It gives users sovereignty over their creations and interactions within the Decentraland world. Users can create and monetise content and applications on their plots of land using MANA tokens. They can also receive a daily percentage of MANA based on their past purchases.
How the Decentraland system works:
At the heart of Decentraland lies a digital asset (LAND) in the form of a nonfungible ERC721 token residing on Ethereum mainnet. The Ethereum blockchain provides both a single source of truth for land ownership and storage for all project-related activities, while users can interact with the blockchain via various clients (e.g., Parity or Mist).
To participate in Decentraland, you'll need to purchase LAND represented by non-fungible tokens on the Ethereum blockchain. Each parcel of LAND represents a unique parcel of virtual space 100m x 100m. Once you've purchased your LAND, you can build on it whatever you'd like. Since content on the blockchain is immutable, everything built there is permanent and can't be destroyed or erased.
What Makes Decentraland MANA Unique
Unlike any product ever launched, Decentraland is a digital world or Metaverse owned by its users. Its digital land exists on the Ethereum blockchain, which allows developers to build decentralised applications (DApps) which will be hosted within this 3D virtual world. Users control their digital assets through a special wallet they can create within Decentraland, allowing them to buy, sell and trade them with other users and developers. If you want to invest in the Metaverse, buying some MANA is a great way to get started.
Where to buy MANA (Decentraland)?
MANA is a very popular coin, and a large cryptocurrency by market capitalisation, so you will be able to find it at many crypto exchanges in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.
In this guide of how to buy MANA (Decentraland), I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:
- Over 410+ different cryptocurrencies supported, including MANA
- Most secure and trusted crypto exchange in Australia
- Largest Australian exchange with more than 2.5 million users
- Staking on 21 coins
- Live Chat support
- NFT marketplace where you can buy NFTs using any cryptocurrency you like
Exchanges where you can buy MANA
How to buy MANA (Decentraland)?
7 easy steps
Buying MANA (Decentraland) in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own MANA in no time.
1. Sign up with a crypto exchange
The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.
To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.
2. Verify your account
After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.
3. Deposit money into your account
Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.
4. Go to the Buy section in your account
Once your money is in your CoinSpot account, you are ready to buy some MANA (Decentraland). Click on Buy/Sell in the menu along the top, then search MANA. Click on Buy MANA and you will see the purchase screen, like the screenshot below. The price of MANA is shown clearly in the middle of the screen.
5. Select how much MANA you want to buy
Select how much AUD you want to spend on MANA, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive.
6. Buy MANA (Decentraland)
When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some MANA!
7. Store your MANA safely
Now that you have made your purchase of MANA (Decentraland) you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much MANA you own, and the value in AUD. You can leave your MANA in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your MANA to a personal wallet. You can click here to read about the best crypto wallets for Australians.
Frequently Asked Questions
Yes, it is perfectly legal to buy, sell and own MANA (Decentraland) in Australia.
Not many Australian crypto exchanges support debit and credit cards, but Swyftx does. You can click here to open an account with Swyftx.
If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy MANA in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy MANA (Decentraland) using their platform.
If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Ethereum, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of MANA.