Review by: Marcus P.
Quick Summary: If you are new to Crypto trading and would like to know how to buy Decentraland in Australia, I have you covered in the fully comprehensive easy to read tutorial below. Just follow the steps below and you will be the proud owner of your first Decentraland in no time at all.
Our recommended trading account: Swyftx.com
The Swyftx exchange is highly recommended largely due to the exchange’s easy signup and verification process and ease of use. Add to that the lowest trading fees in the industry, brilliant customer care and 310 assets to choose from you can see why.
They are also currently running a promotion where you receive $20 BTC FREE for creating your first account. If you feel you can trade on Swyftx without reading our tutorial feel free to click the link above, otherwise just carry on reading. Also, see how Swyftx rates in our comparison list of the best Australian crypto exchanges.
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How To Buy Decentraland In Australia With Swyftx
Before we start the process of actually buying Decentraland (MANA) let’s first take a look at the Swyftx platform and its advantages based on our review. Swyftx is an Australian-based cryptocurrency exchange based out of Brisbane, it is available in Australia and New Zealand.
It has 550,000 users Signed up to the platform and this user base is growing all the time. There are over 310 crypto assets to choose from with low trading fees.
Regarding trade fees, Swyftx has one of the lowest trading fees in Australia at 0.6%, and free fiat Deposit & Withdrawal.
In terms of spreads, they also have one of the lowest spreads across other cryptocurrency exchanges. Spreads are basically the difference in price between the buy and sell price of a tradable asset
In most cases, this can actually exceed the advertised trade fee so if you have a look at Australian banks they charge up to 11% if you’re converting AUD to a foreign currency.
It is important to note that spreads are more important than the actual fee. This is because spreads can actually take out a huge portion of your profit or even increase your losses in the way of hidden fees.
One of the things that we like in Swyftx and you won’t find in other exchanges is the demo mode, which allows you to buy and sell crypto with pretend money.
This offers a great opportunity to learn how to trade and gain experience before risking your real money.
And don’t forget when you sign up for a free account today, you will get a completely FREE $20 BTC to use in your Swyftx account straight away.
Ok so now let’s simply follow the steps below.
Step 1: Lets Set Your Account Up
The first thing to do is head over to the Swftx account creation page and enter your email, password, first and last name, country of residence, and phone number.
Click that you agree to the terms and conditions and verify you are not a robot then simply click create my account.
Congratulations you now have a Swyftx trading account. let’s move on to the verification process below this is quick and easy and shouldn’t take more than three minutes to complete.
Important: When you are on the account creation page make sure it says promotion cryption20 applied or you won’t receive your FREE $20 BTC.
Step 2: How To Verify Your Swyftx Account
After logging into your account navigate to the left side menu and click on profile then click on verification.
All Australian exchanges should be members of AUSTRAC by law so be cautious if this is not the case.
Just follow the process it is very simple you will just need to provide your email, phone number, and your ID (Licence number or passport number) without any scan or document uploading.
However, should you run into any problems during the verification process just contact Swyftx for excellent customer support
Ok so now we should be all verified let’s carry on with depositing our first AUD amount.
Step 3: How To Deposit AUD Into Your Account
In the same left sidebar, click on the trade tab at the top and navigate down to the deposit tab.
You will see a Bitcoin deposit page displayed, click where it says search assets and type in AUD.
Now deposit your AUD amount using whatever method suits you from the following options Osko, Pay iD, Poli, or your credit/debit card.
Step 4: How To Buy Your Decentraland
In your account, you should now have displayed however much AUD you just deposited. So let’s proceed and buy our Decentraland.
Again you simply navigate to the left-hand sidebar find the trade tab near the top click on that and the buy tab will pop up below.
Click on search assets type Decentraland or MANA, you will notice the Decentraland/MANA price and the four choices.
I usually click on market which means you buy Decentraland at the current price, or you can click limit where you purchase MANA if it falls to a certain level.
So simply enter the AUD amount you wish to invest from your balance then click instant buy and that’s it congratulations you have bought your first Decentraland/MANA.
In the example below you will see I entered 100 AUD giving me 29 MANA. If you wonder why I switch between Decentraland and MANA just keep reading.
That’s all there is to it you now own 29 MANA.
What Is Decentraland?
Decentraland is a virtual universe in which you can play, create and interact with other players. In this virtual world, one can buy plots of land and create their own environments, market, and special applications.
Decentraland is typically what is called a Metaverse, which is a fictitious virtual world that has been artificially created by a computer program. An entire community of users will live there as in real life but in a Virtual.
Is MANA a Good Investment?
MANA is the native token of the Decentraland platform, based on the reliable and popular Ethereum blockchain
When it launched in 2017 the initial ICO offering raised $26 million, MANA tokens sold for $0.02 and parcels of digital land approximately $20.
Currently, Decentraland is worth $3.38 AUD and Investors have already made profits on this cryptocurrency.
MANA could be an excellent token to invest in because it is used in the Decentraland project which has the potential to explode.
Other Australian Exchanges To Buy Decentraland
If for some reason you decide the Swyftx exchange is simply not for you, there are a couple of other Australian exchanges I like to recommend.
Hopefully, you now have a good idea of the steps you take to invest in Decentraland/MANA.
investing in the Decentraland MANA token is an opportunity that should not be overlooked. Its innovative concept is the successful expression of DeFi.
The Decentraland virtual world is a fully decentralized business space that opens up many financial opportunities.
Given the various expert’s analyses, the price of the coin is expected to increase in the future with a significant rise and a significant level of gain for the most daring investors.
Participating in the MANA project is a guarantee of contributing to the development of a new economic model with the promise of more or less long-term gain.
Create your account at Swyftx below and get your $20 BTC trading bonus completely free.
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Warren is the co-founder of CoinCryption. He has a passion for cryptocurrency and has been involved in this space for more than 7 years. His other love is digital marketing and has over 15 years of experience.