🔥 Decentraland forecast 2021: MANA course analysis & future
One can deal with the extremely unattractive day and time deposit accounts and subsequently become annoyed that the money in the savings book is no longer available because the interest rate policy of the European Central Bank - in short: ECB - does not allow any increase in wealth. If you take inflation into account here, it quickly becomes clear that money that is parked in the savings book or overnight money account even loses value over time. If you pay in 1.000 euros in January, the real loss in value by December may mean that the value of the 1.000 euros paid in is only around 950 euros.
But what are the alternatives? More and more people are dealing with cryptocurrencies. But not necessarily only here Bitcoin or Litecoin, but also with more unknown digital currencies, which - according to the experts - have the potential to cause a sensation in the foreseeable future.
MANA, the Coin from Decentraland, likes one from time to time digital currency be. But how promising is the cryptocurrency in the end?
Access to the crypto market
A crypto currency that should not be lost sight of is called MANA and is the coin of the Decentraland platform. If you want to invest, you first have to gain access to the crypto market. But who provides access?
Access to the crypto market is available through the Crypto exchange. But there are also online brokers who allow speculation and trading in digital currencies. However, it should be mentioned at this point that there is a difference that should not be underestimated, whether you invest, i.e. buy coins in a certain digital currency, or speculate with it, i.e. only deal with the price speculation of the crypto currency.
Because a cryptocurrency exchange primarily only provides access to then invest money directly. This means that you buy coins in a digital currency and transfer them to the wallet, which is the digital wallet in which the coins are then stored. In the end, you are happy when the price of the cryptocurrency rises, as the invested assets also go up. If the cryptocurrency then reaches the desired price level, it can then be sold. Of course, the invested capital can also decrease if the price of the cryptocurrency goes down.
But you can also access the crypto market via a Online Broker to get. In this case, there is only speculation on the price of the favored cryptocurrency. This means that in the end you don't buy any digital coins, you just bet on whether the price of the cryptocurrency will rise (you open a long position) or fall (you open a short position).
It is important to deal with the dangers and risks from the beginning. Because the crypto market is extremely volatile and difficult to assess. What does that mean for the trader or investor? Anyone who misjudges the price development of the cryptocurrency here must then note that there can be extraordinarily high losses. For this reason, it is important to only invest money that is freely available. Of course, there can also be attractive profits, provided the market is assessed correctly.
With eToro there is a provider on the market who provides the services of an online broker and is also a cryptocurrency exchange. The advantage that the services of a stock exchange and a broker are offered here? You can speculate about the price development via the provider eToro, but you can also buy coins and transfer them to the internal wallet. Thus, different strategies can be used when deciding on eToro.
Furthermore, the provider eToro scores with the fact that so-called social or copy trading is offered here. This means that you take on decisions like strategies of successful traders - so you can participate in their successes, but without having any experience of the matter in the end. However, it should be noted that there is no guarantee of profit here. Even an experienced trader who has been successfully participating in the market for years and has already made high profits several times can be wrong. Therefore, one should also be careful here and only invest freely available money.
The broker eToro is also regulated. The provider is based in Cyprus. That is the reason why the CySEC, the Cyprus Securities and Exchange Commission, is behind the provider. The regulatory authority then checks whether the online broker complies with all rules and laws, so that the customer can be sure that no fraudulent activities are being pursued here. Since Cyprus is part of the European Union, i.e. a member of the EU, it may be irrelevant whether eToro is based in France, Germany or Cyprus. The same set of rules must be applied within the EU.
If you find out that the offer from eToro corresponds to your personal ideas, you can open an account afterwards.
Step 1: Register with eToro
In the course of registration, you only need to provide a few personal data. This includes the first and last name, a user name and a valid email address. Finally, a password has to be generated. Here you should not only use uppercase and lowercase letters, but also integrate digits and work with special characters. The more complex the password, the greater the security.
The verification process does not start until the payment is requested. Thus, after entering the personal data, trading or investing can be started immediately after the money to be deposited can be found in the eToro account.
The entire registration process takes a few minutes and is ultimately self-explanatory. There are no challenges here. Even beginners who have never come into contact with such a platform will not have any difficulties here.
Step 2: Deposit with PayPal, credit card or instant transfer
Depending on the selected deposit method, the money is then available either immediately or after two to four working days in the eToro account. It is particularly quick with a credit card or PayPal; you need more patience if you decide to transfer the amount by bank transfer.
Compared to many other providers, eToro offers a wide range of various payment options. For example, you can use the bank transfer, but you can also top up your account with your credit card. eToro also provides eWallets as a deposit option as well as PayPal.
The online payment service PayPal deserves to be mentioned again at this point. This is because PayPal is very popular and is available in many online shops, but is still a real rarity in the brokerage industry. So if you are looking for a broker who accepts PayPal as a deposit method, you have come to the right place.
Whereby PayPal should not be the only argument if you are looking for an online broker who can then establish access to the crypto market.
Step 3: buy and sell Decentraland
Due to the fact that eToro is a broker and a cryptocurrency exchange, there are different ways of accessing the digital coin of the Cryptocurrency MANA to be able to work.
You can specify the desired amount that you want to invest, and you already get the information about how many coins you get from the crypto currency. But you can also specify the number of coins you want to purchase and eToro then calculates how high the amount to be invested should be. Now, after the transaction has been confirmed, the coins are transferred to the internal wallet. However, you don't have to use the eToro wallet, you can also choose your own provider.
By clicking on the X2 button, you do not invest directly, but make a decision for price speculation. The big advantage of price speculation? You can also bet on falling prices here. However, the market is volatile and difficult to assess, so that one should be particularly careful with short-term speculations.
The Decentraland platform defines itself as a virtual reality platform. The platform is based on the Ethereum blockchain. The users are given the opportunity to create applications as well as content themselves, whereby monetization also plays an essential role here and should not be neglected. In this virtual world, users buy properties that they can later drive on, build on and then monetize.
After the Initial Coin Offering - ICO for short - the Decentraland platform was launched with a value of around 24 million US dollars. The ICO took place in 2017. Decentraland then started the closed beta in 2019; The system was made available to the public in February 2020.
Two coins or tokens are used at Decentraland: LAND and MANA.
Cryptocurrencies, which are currently relatively unknown, have a risk that should not be underestimated. MANA, the crypto currency of the Decentraland platform, ranks 92nd when market capitalization is taken into account (as of the end of June 2021). The price is currently 0,49 US dollars - the all-time high is 70 percent away (1,60 US dollars, set on May 7, 2021).
Anyone who thinks the price is going up again and the potential is definitely there is well advised to when he invests. However, only with freely available capital. The market is volatile - if you speculate here, you can get into financial difficulties and that should be avoided.
It is important that you sometimes get to grips with the future development deals. Because a growing crypto market can sometimes also drive up the price of MANA. The fact that the US dollar barrier has already been passed is a good sign. Mainly because there is still enough air at the all-time high.
When dealing with cryptocurrencies, it is extremely important to always take a look behind the scenes. In other words, what does the project actually look like that is taking place in the background? Decentraland may well be a promising project here that is also sustainable. Especially because the interest in virtual reality platforms is increasing.
And an increasing interest in the technology in the background or in the project may have positive effects on the price development of the cryptocurrency. The prognosis is therefore very positive.