Decentraland Buying Guide
Step 1: Decentraland Buying Guide Instructions
1. Click link above to start a FREE CoinMama account as you follow this step-by-step guide. Click here for a step-by-step guide for Coinbase if you prefer to use it instead.
2. Type e-mail address.
3. Create a password. Make it very strong and store it in a secure location.
4. Enter your full name.
5. Enter your Country of residence.
6. Enter your State of residence.
7. Click box to agree to terms and conditions.
8. Click “Create Account”
1. Open the email inbox entered in step 1.
2. Find email verification email from CoinMama and click the link inside.
1. Login using the credentials created in step 1.
2. From the “my account” page click “verify your account”
1. Enter first, middle, and last name.
2. Enter gender, date of birth, & phone number.
3. Enter your address, Country, city, and Zip code.
4. Enter details for; a drivers license, state/national ID, or non-US passport.
*Coinmama is a reputable company handling billions of dollars in transactions. They have a serious interest in keeping your information safe.
1. Using a computer web cam or mobile phone take a picture of the front & back of the ID entered in step 5.
3. Write CoinMama and the current date on a sheet of white paper.
4. Take a visible selfie of your face while holding the sheet and the ID.
5. Upload each image into the correct box by clicking the “choose file” button in each box.
1. Wait for an E-mail from CoinMama confirming approval
2. If something wasn’t approved simply correct the required information and resubmit.
1. Account accepted and documents approved.
*Typically takes 1-2 business days for approval, depending on traffic.
1. Once accepted its now time to buy some Bitcoin or Ethereum.
2. Click the bitcoin or ether link from the main menu.
3. Enter the number of coins or dollar amount you wish to purchase.
4. Click “Buy Bitcoin” or “Buy Ether”
1. Enter your bitcoin wallet public key.
2. If you need a bitcoin wallet click here to download the Exodus wallet.
1. Click backup tab on left sidebar.
2. Click reset email and password or add new.
3. Create a strong password. Store it securely.
4. Create a 12-word backup phrase and store it securely. This phrase can get your wallet open if you forget your password or need to re-install Exodus on a new computer.
That’s it! you’re now ready to use your new wallet.
1. Navigate to wallet in the left sidebar of Exodus.
2. Select Bitcoin from the list of supported cryptocurrencies.
1. Click the large receive button.
2. Verify that you are indeed looking at the Bitcoin wallet details and not some other currency.
3. Copy the receive address(public address) into Coinmama(step 11 of this guide).
*Failure to send the correct coins to the correct wallet will result in loss of those coins forever.
1. Once wallet address is entered and triple checked for accuracy.
2. Proceed to checkout.
3. Check wallet address once more! Get the idea?
4. Proceed to checkout.
1. Enter cardholder name.
2. Enter card number.
3. Enter month and year.
4. Enter security code.
5. Click “pay now”
*Thats it!! Once your transaction is confirmed your coins will be available in the wallet you’ve selected or in the Exodus wallet if you followed along here.
Locate the send button in the respective wallet for the coins you purchased. If you purchased Bitcoin locate the send button in the Bitcoin wallet. If Litecoin, then the send button in the Litecoin wallet, etc.
Before you can proceed you’ll now need to setup a Binance account. Click the button below to open the Binance exchange in a new window.
Choose an e-mail address.
Enter a strong password. Write it down and store it securely. Then confirm password in the following box.
The last box should have my referral code: 23708715 automatically applied, if it doesn’t I hope you’ll consider using it. Doing so will yield me a small commission for my effort building and maintaining this site. If you choose not to I understand, but please know this DOES NOT and NEVER WILL allow me access to any of your information.
Finally, agree to the terms and click register.
This screen should appear. Proceed to the relevant email account and locate the “Confirm your registration” e-mail from Binance.com.
Click the big yellow button “Verify Email”.
Also, take note of the security tips at this time to stay safe using Binance.com.
After clicking you’ll receive a notification that verification was successful. Please login using the credentials submitted in step 11.
Upon first login you’ll be taken to the account screen. At this time it is advisable to setup 2 factor authorization to access your account. I won’t provide that screen as an image because i don’t want to share my account access information. However, the steps on screen are self explanatory. You’ll need to download an app on your phone named “Google Authenticator” or alternatively you can use SMS verification. Either is effective and highly recommended.
Once complete you can begin trading.
* Please note that should you wish to withdraw more than 2 Bitcoins (approx. $20,000 as of this writing) you’ll need to verifiy your identity with Binance.com through the account page by clicking the link “submit verification documents”.
* TRIPLE CHECK – Make triple sure you’re sending the same coins from your Exodus wallet to your Binance account. Failure to send the same coins will result in losing those coins.
Now head back to your Exodus wallet and enter the deposit address key (from Binance) into the “send to Bitcoin address” field after clicking the send button.
* Please note – there are network fees required. I hate them to.
Verify how much you wish to send to Binance and click send.
You may need to verify with a password or SMS text. Do so when prompted.
* At this point we’ll need to wait for our funds to travel through the network to its destination. Barring extreme traffic this is usually complete in under an hour and typically much faster. Just stay calm and wait for the funds to arrive in Binance.
Once our funds are available on Binance we are ready to buy our Decentraland coins.
Navigate to Exchange > Basic.
Locate the Coin list on the right. To purchase Decentraland with Bitcoin select the “BTC” button
Locate the search box and Type “MANA”. MANA is the ticker symbol for Decentraland.
* Click the MANA/BTC link to open the buy/sell page.
With the buy/sell page open, locate the Limit, Market, & Stop Limit tabs in the lower center of the page.
Select Limit or Market order tab. Limit order means the price you choose is guaranteed but a filled order is not. Market order means a filled order is guaranteed but a price is not.
*I always do limit orders and try until i get filled at the price I’ve set. This avoids being filled at a poor price which market orders can sometimes lead to.
Select the Limit tab.
Take note of the price in the left middle. (Red arrow)
Enter that price into the price field.
Select the amount of Bitcoin you would like to exchange for MANA.
* The percentage buttons below can be used for convenience. For instance, if you would like to exchange all of the Bitcoin in your Binance wallet for MANA click the 100% button.
With every field entered. Click the green “Buy Button”.
*Wait a few minutes for a fill. If price is moving quickly you may have to enter another price and retry. Open orders (orders that haven’t been filled) and filled orders can be viewed on that page directly below the buy/sell section.
Once the fill is complete. You are now the proud owner of some MANA coins! Congratulations!
Click funds > Balances > Search MANA to verify your coins are in the exchange wallet
At this point you’ll need to consider storage options. There are a few different storage solutions and one of them is to just keep your coins on the exchange right where they are. Generally, this is acceptable, so long as the amount being stored is small. However, cryptocurrency exchanges don’t have the greatest track record for stability. At any time they could be hacked or simply shut down and walk away with the money inside. This leads most traders or investors to store their coins in a hardware wallet or other cold storage option. Cold storage meaning not connected to the internet. I recommend the Ledger Nano S located below but their are several hardware wallets available. Just be sure not to get a used one on ebay. I would order direct from the manufacturer for something storing potentially millions of dollars of my money.
Should you find yourself ready to sell your coins simply complete the steps above in reverse with one exception. You wont be able to sell your coins via CoinMama. For that you’ll need a Coinbase account. Click this link for a step-by-step Coinbase guide.
1. Transfer coins to Binance.com (if they were moved elsewhere)
2. Sell on same screen they were bought.
3. Transfer Bitcoin or Ethereum to Coinbase.
4. Sell on Coinbase for USD.
That’s all there is to it. Seems daunting initially but after the first go around its really pretty easy and much less scary.
I hope you found this guide helpful. If you did I would appreciate you sharing with your friends and family.
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