Metaverse crypto CFD tokens, such as Decentraland's MANA token, have seen huge popularity since Facebook rebranded to Meta in 2021. In Decentraland, users can buy and sell digital real estate, while exploring, interacting and playing games within the virtual Decentraland world.
Over time, the platform has evolved to implement interactive apps, in-world payments and peer-to-peer communication for users. MANA is one of the cryptocurrencies that facilitates purchases of LAND, as well as virtual goods and services used in Decentraland.
The benefit of trading MANA as a Crypto CFD on ThinkMarkets is that you can benefit from both rising and falling price movements. If you think the value of MANA will rise, you can “go long”; if you expect the price of MANA to decrease, you can "go short". This offers the potential for you to make a profit in both rising and falling markets rather than just via price increases as per traditional cryptocurrency exchanges.
ThinkMarkets is a leading global online broker that connects people from all around the world to trade some of the most sought after financial assets on our award-winning trading platform.
In this tutorial, we will show you how to get started trading Decentraland (MANA) as a crypto CFD on the ThinkMarkets trading platform. To get started, all you need to do is:
- Download the ThinkTrader app
ThinkTrader is available to download for IOS users in the App store or to download for Android users in the Play store.
- Open a ThinkMarkets CFD Live account.
It's simple to get started trading on ThinkMarkets as the process of registering a new free account is fast, easy and secure. Remember, to trade MANA on the ThinkMarkets trading platform, you must open a CFD account.
- Search for the MANA token
Go to the search feature and enter MANA. You can then see price charts and review the market in preparation to open your position on the decentraland crypto CFD, MANA.
- Open your position on MANA
You can open your position on MANA via the easy-to-use trading interface. You can mitigate your risk by choosing to add a stop loss/take profit, which will automatically close your position once your asset hits a certain level.
Remember, if you think the asset will increase in value (the price will go up), then you should ‘buy’ the market. If you think the asset will decrease in value (the price will go down) then you should ‘sell’.
- Monitor and close your position
Now that you have opened your position, you need to keep an eye on the trade to decide on your next move which will be wholly dependent on the market and asset that you are trading.
Want to trade the latest Metaverse tokens? You can start trading Decentraland (MANA) as a crypto CFD in your ThinkMarkets account today.
This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication only. No representation or warranty is given as to the accuracy or completeness of this information.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Investing in derivative products carries significant risks and is not suitable for all investors. Please be aware that you do not own, or have any interest in, the underlying assets. We recommend that you seek independent advice and ensure you fully understand all risks before trading.