How To Buy Metaverse Crypto?
Crypto Knowledge

How To Buy Metaverse Crypto?

written by John Murphy | March 27, 2023

Metaverse cryptos are the latest addition to the vastly expanding cryptocurrency space; these are sub-assets classes within the crypto market. With a lot of yield promise on offer, many investors are queued up to learn how to buy metaverse crypto, which is expected to become the next hit of the internet.

Take Aways

  • Metaverse is a virtual world replicating real-world interaction between users and offering them a chance to buy things, play games, and do business in blockchain-based technology.
  • Users need metaverse tokens to become part of the space; they can buy them by opening an account with a crypto exchange.
  • Popular metaverses include Decentraland, Axie Infinity, and Tamadoge.

Early metaverse tokens trading platforms like Sandbox and Decentraland have been equipped with cryptocurrencies that act as the means of trading within these virtual worlds. As far as investors are concerned, these cryptos are opening new avenues with colossal potential.

Metaverse, in some sense, is considered a social network; what makes it appalling is its “limitlessness”, whereby anyone joins a virtual community and achieves multivariate goals like business, entertainment, sports and achieving social goals.

Since anyone can create a virtual world, we will discuss in the article how to interact with these metaverses and buy metaverse crypto.

Step-by-Step Guide To Buy Metaverse Crypto

Buying metaverse tokens is similar to buying any cryptocurrency like Bitcoin or Ethereum. Luckily, hundreds of cryptocurrency exchanges across the globe serve traders and help them get their hands on metaverse cryptos.

So, you can quickly start your metaverse crypto journey, and here is how it works!

  • Step 1: Select a Crypto Exchange

Crypto exchanges allow traders to buy and sell digital assets, including cryptocurrencies, metaverse cryptos and FTX. So, the first step into the metaverse crypto journey is to select and sign up with a crypto exchange like Coinbase, Kraken or Uphold.

However, the number of options can sometimes put users in a difficult selection position, so here are key points to check in a crypto exchange before signing up.

  • Fees
  • Security
  • Integrity 
  • Wallet options
  • Signup procedure
  • Number of metaverse cryptos on offer

But a lower fee crypto exchange with high security, easy signup and offering a large number of cryptocurrencies is an ideal crypto broker. 

  • Step 2: Sign Up with Crypto Exchange

Once you have put your eyes on the right platform, the next step is to signup yourself up to set up a crypto account. Generally, crypto exchanges must undergo a registration process called KYC (Know-Your-Customer).

The exchange will require you to provide them with the following information to sign you up for trade.

  • Name
  • Address
  • Valid ID
  • Social security details
  • Phone number
  • Email address

So, it is as simple as you can think. Just provide the details and get your crypto act up and running.

  • Step 3: Fund Crypto Account

The third step is to fund your newly opened crypto account. So, you can choose either of the below-mentioned methods, depending on your crypto exchange’s acceptability.

  • Debit Card
  • Credit Card
  • Direct bank transfer
  • PayPal

However, we recommend not to use a credit card to fund your account because banks treat credit card payments for cryptocurrencies as advance cash and thus charge higher interest rates.

  • Step 4: Make Metaverse Crypto Purchase

Once you have funded your exchange account, you are all set to make your metaverse crypto and complete the answer to the question – of how to buy metaverse crypto.

You can order your desired metaverse crypto through your exchange’s website or mobile app (if available). Thus, placing an order is straightforward; you can add the number of metaverse tokens you want to purchase, click the “BUY” button, and receive your tokens in your digital wallet.

Buying is possible in both ways; you can use the amount of fiat money you want to spend or the number of tokens you wish to purchase. 

  • Step 5: Storing Metaverse Crypto

The last step is to store your newly bought metaverse cryptocurrency securely. Placing your tokens in a digital wallet is the best way to keep them. Luckily, almost all renowned crypto exchanges offer e-wallets.

However, you have the liberty and a better option of storing your tokens- placing them in a hard wallet. In short, the following are the two best options to keep metaverse crypto and avoid unwanted access.

  • Hot wallets are the ones which are always connected to the internet. Generally, these are less safe, and cryptocurrency exchanges offer these types of wallets. However, these types of wallets are cheaper.
  • Cold wallets, on the other hand costly, but offer a high level of security. These wallets are only connected to the internet when a transaction is required. They resemble in shape with USB drives.

Alternate Ways To Buy Metaverse Crypto

If you are not easy to buy metaverse cryptos from an exchange, there are other means. Recently, many peer-to-peer trading platforms have emerged in the crypto space, where buyers and sellers can interact to make a deal without involving any crypto exchange.

It seems an attractive option since you can save broker’s transaction fees; however, there is a risk of fraud involved in such a purchase.

Moreover, you can also swap your cryptocurrencies for metaverse tokens on DEXs (decentralized exchanges). DEX only require you to trade by connecting your crypto wallet to the platform’s smart contract.

Frequently Asked Questions

What is metaverse crypto?

Metaverse crypto is a sub-set of cryptocurrency that allows users to interact with virtual worlds based on blockchain technology and offer numerous activities like sports, entertainment and business.

Where can I buy metaverse crypto?

Almost all popular crypto exchanges deal in metaverse cryptos, including but not limited to the following.

  • Coinbase
  • Binance
  • Kraken

What is the best metaverse crypto to buy?

The following are a few famous metaverse cryptos.

  • Decentraland
  • ApeCoin
  • Battle Infinity
  • Tamadoge

Parting Thoughts

How to buy metaverse crypto is a popular question, as metaverses have emerged as a new investment avenue in the crypto world. These virtual worlds allow users to interact with the community, such as in the real world, to make business deals, enjoy parties, play games and much more.

Moreover, these metaverses have created their tokens to reward users and allow them to make purchases with a particular metaverse. Hence they are becoming popular and have already started attracting attractive investments.

Buying metaverse crypto is similar to purchasing cryptocurrency; users need an account with a crypto exchange to buy metaverse tokens. They can buy them with a debit or credit card in a straightforward fashion.

We hope you are fully equipped with all the information necessary to start your metaverse crypto journey. Wishing you all the luck with your purchase.