How & Where to Buy MANA in Canada

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If you’re looking to buy Decentraland (MANA) in Canada, then you’ve come to the right place.

MANA is one of the hottest tokens nowadays, even though it is still an ERC20 token. It has been a pretty big project from the start. 

In this blog post, we will tell you all about how and where to buy MANA in Canada. We will also guide you on how to store Decentraland safely and securely.

So, whether you are an experienced cryptocurrency investor or just starting out, read on to learn more about the best crypto exchanges to buy MANA in Canada.


What is MANA?

MANA is the currency of the Decentraland virtual world. Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain. 

It allows users to create, experience, and monetize content and applications. The Decentraland platform utilizes the ERC-20 standard of tokens called MANA. These tokens are used to purchase things on the Decentraland platform.

Just like in the real world, the value of MANA can fluctuate. In fact, since its launch in 2017, the price of MANA has seen a lot of ups and downs.

Now that you know a little bit about Decentraland, let’s move on to how and where you can buy MANA in Canada.


How to buy MANA in Canada

There are a few different ways that you can buy MANA in Canada. But the fastest and easiest way is through a cryptocurrency exchange like the ones covered in the next section.

To get started, you’ll first need to decide on the crypto platform to use. Once you’ve made the decision, here are the general steps to follow:

  1. Sign up for an account on the chosen exchange.

  2. Verify your identity by providing some personal information and proof of ID.

  3. Deposit CAD into your account. You can do this via Interac e-Transfer, bank transfer, wire transfer, or credit/debit card.

  4. Select MANA from the list of available cryptocurrencies and click “Buy”.

  5. Enter the amount of MANA you want to purchase and review the transaction details.

  6. Click “Confirm” to complete the purchase.

  7. Withdraw your MANA to a crypto wallet of your choice.

Now that you know how to buy MANA, let’s take a look at some of the best cryptocurrency exchanges in Canada that offer this digital asset.


Where to buy MANA in Canada

Canadians have a few different options when it comes to buying MANA. The quickest and easiest option is through a crypto exchange.

But not all crypto exchanges are created equal. That’s why we’ve done the research to bring you a list of the best ones out there.

Here are our top picks for the best exchanges to buy MANA in Canada:

1. Bitbuy

  • Founded in: 2016
  • Minimum deposit amount: $100
  • Trading fees: Bitbuy charges 0.1% to 0.2% for trading.
  • Funding options: You can use Crypto deposits, E-transfers and wire transfers to finance your Bitbuy account to purchase MANA.
  • Sign-up bonus: When you create a Bitbuy account and make at least a $250 deposit, you will get a welcome bonus of $40

Bitbuy is a Canadian digital currency exchange that prides itself as one of Canada’s leading platforms for buying and selling digital assets.

Since its launch in 2016, Bitbuy has been providing Canadians with a dependable and trustworthy platform to buy and sell their cryptocurrencies. Also, Bitbuy has always emphasized transparency and security while offering some of the lowest fees in the industry.

Bitbuy is available on both desktop and mobile devices which makes it easy to buy, sell or trade cryptos.

In addition to this, Bitbuy is regulated by FINTRAC as a Money Service Business. The exchange is also regulated by OSC. This means that they ensure that they are compliant with all relevant regulations.

How to buy MANA on Bitbuy

  • If you are a new user, create a Bitbuy account using this link
  • Verify your account and identity
  • Next, add funds to your Bitbuy account
  • Purchase your MANA

Learn more: Shakepay vs Bitbuy

2. Wealthsimple Crypto

  • Founded in: 2020
  • Minimum investment: $1
  • Trading fees: Wealthsimple Crypto doesn’t charge trading fees. However, it charges an operational fee of 1.5%.
  • Funding options: You can fund your Wealthsimple Crypto account through a linked bank account and crypto.
  • Sign-up bonus: when you create a new Wealthsimple Crypto account and trade with a minimum amount of $150, you will get a $50 welcome bonus.

Wealthsimple Crypto is a crypto exchange that offers a simple interface that makes it easy to buy MANA and other cryptocurrencies using your Canadian bank account. 

It is one of the newest Canadian crypto exchanges, but it has quickly become one of the top crypto platforms in Canada. Wealthsimple Crypto was launched in 2020 and is a subsidiary of Wealthsimple Inc., which has been around since 2014. 

The exchange is registered as a Money Services Business (MSB) by the Financial Transactions and Reports Analysis Centre (FINTRAC). It is also one of the few crypto brokers registered with the Ontario Securities Commission (OSC).

How to buy MANA on Wealthsimple Crypto

  • If you are a new user, create an account
  • Next, verify your account and identity
  • Fund your new account
  • Buy your MANA

Related: Wealthsimple Crypto Referral Code

3. Newton

  • Founded in: 2018
  • Minimum investment: $0
  • Trading fees: There are no trading fees on Newton. However, the exchange adds a small spread on quoted prices.
  • Funding options: To add funds to your Newton account, you can use crypto, wire transfers, and Interac e-transfers.
  • Sign-up bonus: If you create a new Newton account and make a trade of $100 or more, you will get a $25 welcome bonus.

Newton is a cryptocurrency exchange that offers Canadians the ability to trade MANA and other cryptocurrencies using Canadian dollars.

It allows you to buy and sell cryptocurrencies with no trading fees attached. You can register in minutes and the whole process is streamlined for ease of use.

The exchange also supports Interac e-Transfers and wire transfers, allowing users to deposit money directly from their bank accounts into their Newton accounts.

Additionally, Newton is registered by FINTRAC (Financial Transactions and Reports Analysis Center of Canada) so there’s no need to worry about security issues.

How to buy MANA on Newton

  • If you don’t have a Newton account, create one using this link ($25 bonus)
  • Verify your account and identity 
  • Fund your new account
  • Buy MANA

Related: Newton vs Shakepay

4. NDAX

  • Founded in: 2017
  • Minimum investment: $0
  • Trading fees: If you buy or sell crypto on NDAX, you will pay a trading fee of 0.20%.
  • Funding options: You can fund your NDAX account through wire transfers, bank drafts, and e-transfers.
  • Sign-up bonus: If you create a new NDAX account and make your first deposit of $100 or more, you will get a welcome bonus of $10. Additionally, if you refer your friends to NDAX, you will get up to a bonus of $25 for each person you refer.

The NDAX exchange was launched in 2017, to create a safe, easy and secure place to trade digital currencies. 

One of the biggest benefits of using the NDAX exchange is that you can deposit your funds directly into the exchange from your bank account. This makes it easy for new investors to get started in trading.

In addition to offering a wide range of cryptocurrencies, NDAX has several trading tools that are suitable for both beginners and experts.

NDAX is also regulated by FINTRAC as a Money Service Business. Enterprise-level security mechanisms like cold storage wallets and sophisticated encryption are also available on the NDAX exchange platform.

How to buy MANA on NDAX

  • If you don’t have an NDAX account already, create one using this link ($10 bonus)
  • Verify your account and identity
  • Fund your new account
  • Buy your MANA

Learn more: NDAX Referral Code

5. Crypto.com

  • Founded in: 2016
  • Minimum investment: $1
  • Trading fees: Crypto.com charges a trading fee that starts at 0.40%.
  • Funding options: To fund your crypto.com account, you can use a credit card, Paypal, Transferwise and Interac e-transfer.
  • Bonus: If you stake enough Crypto, Crypto.com will reward you with $25 bonus and get access to its prepaid crypto card.

Crypto.com is a Singapore-based exchange that was founded in 2016 and has grown to become one of the world’s leading cryptocurrency exchanges. 

With its recent launch in Canada, Crypto.com aims to provide a high-quality, low-cost trading experience for Canadians.

Crypto.com offers a simple way for Canadians to purchase cryptocurrency using their credit cards, Interac e-transfer and more.

The exchange has a great selection of cryptocurrencies, including many less popular coins that are not listed on other Canadian exchanges. 

If you’re looking for a certain coin that’s not listed on other Canadian-based exchanges, Crypto.com might be your best bet.

How to buy MANA on Crypto.com

  • If you don’t have an account with Crypto.com, you can create one using this link
  • Next, verify your account and identity
  • Add funds into your new account
  • Purchase your MANA

Learn more: Crypto.com Promotions

6. Binance

  • Founded in: 2017
  • Minimum investment: $10
  • Trading fees: Binance charges trading fees that start at 0.1%.
  • Funding options: To add funds to your Binance account, you can use credit or debit cards and crypto deposits.
  • Sign-up bonus: If you create a Binance account using this referral link, you will get a lifetime fee rebate of 20% and up to $100 welcome bonus.

Binance is a Cayman Islands-based cryptocurrency exchange founded in 2017. It is the largest cryptocurrency trading platform in the world by trading volume.

Although this fact alone does not make the exchange better, it does give you an idea of its popularity and trust among users. 

Binance makes it easy for Canadians to buy MANA and other cryptocurrencies using credit cards or crypto deposits.

Unfortunately, Ontario residents cannot use Binance due to some local regulations thus Ontarians who want to buy MANA will have to look for other options.

How to buy MANA on Binance

  • If you don’t have a Binance account, create one using this link
  • Verify your account and identity
  • Fund your account
  • Purchase your MANA

Related: Shakepay vs Binance

7. Coinberry

  • Founded in: 2017
  • Minimum investment: $50
  • Trading fees: There are no trading fees on Coinberry.
  • Funding options: You can fund your Coinberry account using Crypto, wire transfers and e-transfers.
  • Sign-up bonus: When you create a Coinberry account and trade with a minimum of $50, you will get a welcome bonus of $10.

Coinberry is a Canadian exchange that offers trading in a variety of cryptocurrencies, including Decentraland. 

The main goal of Coinberry is to make buying and selling crypto as easy as possible for Canadians.

Also, Coinberry is regulated by FINTRAC which means it follows rules designed to prevent money laundering and terrorism financing. 

How to buy MANA on Coinberry

  • If you don’t already have an account with Coinberry, create one using this link.
  • Verify your Coinberry account and identity
  • Fund your new account
  • Purchase your MANA

Learn more: Coinberry Review


How to Store MANA

Storage is a critical component of cryptocurrency. Like other cryptocurrencies, there are several different ways you can choose to store MANA. 

You might leave it on the exchange or transfer it to your own, private crypto wallet. To store your MANA in a private wallet, you can store your MANA in a hot or cold wallet.

Hot wallets are online wallets that allow users to send and receive cryptocurrency directly from and to the internet. However, hot wallets put your funds at risk as they are stored online, so any hack could mean a loss of funds.

Cold wallets on the other hand are a safer way of storing cryptocurrency as they are not connected to the internet and thus cannot be hacked by an outside source while offline.

As a result, it is safer to store your MANA in a cold wallet if you plan on storing it for long.

LEARN MORE: Best Crypto Wallets in Canada

Is MANA Safe?

Now that you know how and where to buy MANA in Canada, you might be wondering if this digital asset is safe to invest in.

The short answer is yes! Decentraland is a project with a lot of potentials. It’s already garnered attention from some big names in the tech and investment world.

And with the release of their long-awaited Metaverse, we believe that Decentraland will only continue to grow in popularity. So, if you’re looking for a safe and secure way to invest in cryptocurrency, MANA is a great option.

Cheapest Place to buy MANA in Canada

The Canadian-based crypto exchange platforms like Bitbuy, Newton and NDAX offer the most convenient way to buy MANA and other digital coins in Canada.

But if you’re looking for the cheapest place to buy MANA in Canada, then Binance and Crypto.com are your best bet.

With the Canadian platforms, you get to fund your account with CAD cheaply and conveniently using bank transfer and Interac etransfer. But their fees and spreads are generally more expensive than the foreign platforms with higher liquidities.

To buy MANA on the foreign crypto exchanges like Binance, you may have to buy a stablecoin like USDC on a Canadian platform, withdraw the coin to your wallet, deposit it into your Binance account and exchange for MANA.

It has extra steps but the cost-savings are definitely worth it if you plan to buy thousands worth of crypto or trade a lot.

Related: How & Where to Buy Crypto in Canada


Conclusion

MANA is an interesting cryptocurrency that can be used to execute trades in a virtual reality called Decentraland. 

However, if you’re new to cryptocurrencies like MANA, it may seem daunting at first. Hopefully, now you know everything you need to start buying this exciting digital asset.

When you’re ready, anyone of the crypto platforms covered above are a great place to start with buying and selling MANA and several other cryptocurrencies in Canada.

If you have any questions or concerns, please feel free to share them in the comments section below. 

All the best!

Simon is a CPA by day and a Personal Finance Blogger by night. With over a decade experience in financial services, he's passionate about personal finance, investing and helping people take control of their financial life.

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