How to buy Decentraland online

Decentraland is a virtual world built and run by its users. Learn all about the software and its native cryptocurrency in this beginner’s guide.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed,… read more.
Updated: Jun 1, 2021
Tip: our preferred broker is, eToro: visit & create account

On this page we explore what makes Decentraland unique, why you might want to own its cryptocurrency token, and what you can do with it when you do.

Compare the best Decentraland trading platforms

If you just want to find somewhere to get coins straight away, then use one of the brokers below. These have been reviewed and approved by our team of crypto experts as the leading platforms in the field. Not ready for that yet? Then read on to learn more about Decentraland.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
Exclusive promotion
user-score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:
3
Min. Deposit
$10
Exclusive promotion
user-score
8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Bitcoin, Credit Card, Debit Card, Visa
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What is Decentraland?

Decentraland is a platform that hosts its own virtual online world. The virtual world is like an open-world version of The Sims that anyone can go in and experience through a web browser. All transactions on the platform are done in Decentraland’s native cryptocurrency, which goes by the ticker, MANA.

The Decentraland project began in 2015, and the MANA coin was first released in 2017 through an initial coin offering that also parceled out packages of virtual real estate to early adopters to set the market in motion.

How does Decentraland work?

The platform works by creating each piece of virtual ‘land’ as a non-fungible token (NFT) that can be bought and sold using the MANA cryptocurrency. Each of these transactions is stored on the Ethereum blockchain, so a history of the movement of coins and land can be tracked and verified.

The ‘land’ is represented by a set of coordinates from within the game world, which gives it a unique identifier, and both that and the details of the wallet address of its owner is stored in a smart contract. By using blockchain technology as the basis for the platform, it ensures that these transactions can’t be altered or changed.

One further point to note is that because it uses the Ethereum blockchain specifically, the only way to pay for land or items is to have an Ethereum wallet and hold both MANA and Ethereum tokens. The former is used for the item itself, and the latter is used for transaction fees.

How to buy Decentraland online – a step-by-step guide

Step 1. Find an exchange

A cryptocurrency exchange is the best place to buy Decentraland coins. They usually have the widest range of tokens available, and let you swap between them. This is particularly important for Decentraland, as the MANA token is only available in a swap for other cryptocurrencies, like Bitcoin and Ethereum.

A couple of the top exchanges around are:

  • Binance: The most popular exchange platform in the world, Binance is the first port of call for anyone new to cryptocurrency. Virtually all of the top coins are available, and there is a ‘lite’ version to help beginners get started. Sign up with Binance now >
  • Bittrex: Another beginner-friendly exchange platform with a huge range of coins, Bittrex also offers some useful content on demystifying cryptocurrency through its blog platform. Join Bittrex now >

Step 2. Sign up and fund your account

To create an account, you usually only have to provide a few contact details and – sometimes – a form of photo ID. The top platforms race you through this process very quickly, so that you can get on to the good stuff.

Remember that you need to deposit some money into your account as well. Most exchanges now accept deposits in fiat currency (which means ‘normal’ money like GBP, USD, or EUR), and you can make them through bank transfer via a credit/debit card.

Step 3. Purchase

Now, just go ahead and get your coins. The Decentraland cryptocurrency can be found by searching for its ticker, MANA, but you will probably find that the only swaps available are through other cryptocurrencies. That’s not a problem: all you need to do is swap your fiat currency for Bitcoin or Ethereum, and then use that to get Decentraland.

Step 4. (Optional) Get a suitable wallet

The final step is to find somewhere to store your coins to keep them as safe as possible. This is generally only necessary if you intend to hold them for a long time, or hold a lot of them. A cryptocurrency wallet is a piece of software or hardware that restricts access to the coins so you can only get to them by entering a private key that’s unique to you.

Here are two of the top wallets around:

  • KeepKey: KeepKey is a hardware wallet, which means it keeps your coins completely offline. It’s like a USB stick, but protects your coins even if the stick is plugged into an infected computer. Join KeepKey now >
  • FreeWallet: FreeWallet is an online crypto wallet that you can use to access your coins through your mobile phone. It also includes its own cryptocurrency exchange, so you can trade coins directly from the wallet itself. Sign up with FreeWallet >
1
Min. Deposit
$1
Exclusive promotion
user-score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
Cryptocurrencies
Full Regulations:

How to trade Decentraland – a step-by-step guide

Step 1. Find a broker

A broker is best if you want to trade contracts for difference on a coin, rather than owning the coins outright. In that case, you want to use a broker like eToro or Plus500, that lets you trade against the value of various cryptocurrencies. At the moment, Decentraland isn’t available on any broker platforms, but this might change in the future.

Step 2. Deposit money

The only way to fund a broker account is with fiat currency. Many of these platforms offer some kind of deposit bonus for first time users, while many also charge for deposits, withdrawals, or for trading itself. It’s always a good idea to check the terms and conditions when you sign up so there are no surprises later on.

Step 3. Decide how you’d like to trade

As mentioned earlier, the most common way to trade cryptocurrency is by using contracts for difference (CFDs). These are contracts based on how much the price of an asset changes between the date it is bought and sold. The actual price itself doesn’t matter, and nobody takes ownership of the asset itself. Instead, it’s the price change that’s important.

CFDs are often used by day traders to speculate on price moves, but they aren’t the only option available. An alternative is spread betting, where you bet which way a market will move and earn your stake back for every point it moves in a particular direction.

Step 4. Start trading 

When you start, it might be a good idea to use a demo account first. Almost all of the top brokers offer some variation of a practice account where you trade with virtual money. That way, you can get used to the market without putting your own capital at risk.

In terms of the trading itself, you have to decide whether you expect Decentraland to go up or down in value. If you think the former, you should buy it – known as taking a ‘long’ position – while if you think it’s going to fall in price then sell – known as going ‘short’.

For more advanced traders, there is an opportunity to use leverage and make much bigger trades. Leverage means putting down a percentage of the total trade value as a deposit and borrowing the rest from your broker. This can lead to big wins, but just as big losses, as you remain liable for the entire value of the trade.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

Still undecided?

If you aren’t sure whether Decentraland is for you yet, don’t worry. We have summarised the pros and cons of the platform in this table, and followed it with a few more questions to help you decide.

Pros

  • A low-cost investment in virtual reality, which could be the technology of the future
  • The MANA coin has practical value as a means of payment within the Decentraland world
  • Each time MANA is used to buy something on the marketplace, the coins are destroyed. That could help limit the supply and drive the price up

Cons

Below are the final three questions for you to think about before you decide whether to invest in Decentraland.

1. Is it a good time to buy Decentraland?

That depends on the state of the cryptocurrency market and whether you have a long term or short term focus. Cryptocurrency can be volatile and each coin is impacted by the performance of the whole market, so make sure to check that before you do anything.

Long term investors who expect the coin’s popularity to keep increasing should look to get some right away, but short term traders should learn how to use technical indicators to time their moves. Our team of analysts have already done some of the work for you, and you can follow their advice below:

2. What problem does Decentraland solve, and what are the coin’s investment prospects?

Decentraland is a cryptocurrency that runs an entire virtual world. As virtual reality becomes ever more popular, the opportunity to build and own items within that world might become more and more sought after.

There are few competitors that offer virtual reality on anything like the same scale. The challenge at the moment is that it’s a fairly small community, but that could be an opportunity for anyone who owns the coin now as the MANA token is required for anyone who wants to join it.

If the community grows, the coin is going to grow in value. Not only is it required to join, but it’s also the only way to buy land and items through the marketplace. And the total supply is fixed, so it’s not going to suffer from inflation as it would if more were constantly being created. You can keep tabs on the growth of the platform through the latest news below.

Decentraland MANA/USD remains under pressure; the price of this cryptocurrency fell from $1.61 to $0.37 since 7th May 2021, and the current price stands around $0.65. Fundamental analysis: Sotheby’s opened a virtual gallery in Decentraland Decentraland is an Ethereum-based blockchain platform that allows you to buy, build and monetize…
MANA MANA/USD plays an important role in Decentraland’s virtual world due to the fact that it can be used for transactions within the ecosystem to participate in the management of its software.  Owning MANA allows users to interact with the platform and customize their avatars, interact with other users,…

3. Do you want to hold Decentraland for the long term?

If you want to sign up and create your own little slice of virtual happiness on the Decentraland platform then yes, you should. If you are considering its coin as an investment, or as an opportunity for day-trading, there’s more to consider. Here are a couple of final points, depending on which of these buckets you fall into.

Considerations for a long term investment strategy

If you think the Decentraland price is going to go up in future, then the best thing to do is find a cryptocurrency exchange and get some coins straight away. You might want to think about storing these coins in a wallet to keep them secure.

Considerations for a short term trading strategy

Short term traders should learn how to use price charts and technical indicators to time their entry into the market. Then you want to sign up for a broker that charges low trading fees. You could also think about learning how to use CFDs as well.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.