28 Apr 2022 · 3 min read

New Coins on Bitbuy: A Destination for New Worlds and Stablecoins

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Canadian crypto exchange Bitbuy has great news for their customers: they have recently increased the number of total coins that can be traded here to 17, with the addition of Decentraland (MANA) and USD Coin (USDC)! This gives Canadian users who prefer to use their own currency for purchases new options when it comes to crypto trading and expanding their portfolio — all this through a regulated exchange with strong banking relationships that enable excellent fiat onramp. What more could you ask for? 

Why Should I Trade Decentraland (MANA)? 

While expanding your portfolio usually means not keeping all your eggs in one basket and tends to be a good idea overall, it is even better to know what it is you’re choosing to invest in before committing to it. On that note, here’s the lowdown on Decentraland. 

Decentraland is basically a blockchain game, at the very base of it: users can create, travel, and monetize experiences, content, and applications. All of this is done through a virtual reality (VR) experience, which ensures complete immersion on the end of the user. The 3D land — that’s decentralized, hence the name of the project, thanks to the blockchain nature — is permanently owned by the community. It’s a new universe in the best sense of the word: you can participate in it, changing your life as much — or as little — as you want without ever leaving the comfort of your home.  

The decentralized autonomous organization (DAO) behind the project is the entity that owns the important smart contracts and gets to make the decisions about the direction the game is going to take. However, the best part is that by owning MANA (or any of the other tokens from this ecosystem), you also get to participate in the DAO, meaning your vote will also be counted towards the future of the game. So if escaping into another world sounds attractive right now, why not choose one that lets you participate in its governance? 

Why Choose USD Coin (USDC)? 

While cryptos bring numerous advantages to the financial space, like censorship resistance, anonymity, and a lack of reliance on centralized financial institutions, its volatility is often the number one reason why many skip out on using crypto as their primary payment option. The volatility is often exacerbated by the fact that many people treat crypto as an appreciating investment first and foremost. This is where stablecoins come in: with a fixed price, not only is the volatility removed, but so is the incentive to keep them in the hopes of the price skyrocketing at some point. 

But why USD Coin, and not some other stablecoin? If you’re a Canadian trader who prefers Bitbuy for their trading needs, you likely already know that this is the first stablecoin they’re adding to their platform. This offers a great way to hedge your other, more volatile investments. Additionally, USDC is one of the biggest stablecoins available in the market, with almost 49.5bn coins currently in circulation.  

If you have already built a good portfolio through Canada’s leading regulated crypto exchange, adding a stablecoin to it is the logical next step — and now you can do that by purchasing it with fiat as well. To learn more about Bitbuy, read our review here!

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