Decentraland launched the world’s first Metaverse ATM in partnership with Transak and Metaverse Architects with the goal to simplify using money in the Metaverse and save time for users. The Transak ATM permits customers to buy the platform’s native cryptocurrency, MANA, along with other cryptocurrencies, using fiat currency within the metaverse. Decentraland is powered on the Ethereum blockchain and users within the platform can create, use, and make money from their own content. For example, when users peruse a store or go to a concert, they can easily withdraw MANA to make a purchase. The anticipation is that this ATM will increase conversion rates for Metaverse creators. The Metaverse is an interactive digital environment where social interactions and business transactions can take place simultaneously; it infiltrates offline experiences into the Web 3.0 world.
The intention behind
the addition of an ATM to the Metaverse
is to make the
virtual world mimic the real world.
Decentraland is offering events, via the Airdrop Conference Center, to teach users how to use the metaverse ATM and offering contact information for landowners who wish to onboard the ATM to their property and monetize the traffic passing through their land.
Where should I store the cryptocurrency I withdraw from the Transak ATM?
If you are not actively using your cryptocurrency in Decentraland then it should be securely placed in a hardware wallet. Hardware wallets are physical handheld devices that typically include a small display so that you can confirm transactions. Because it is not connected to the internet, it is better protected from hackers and not vulnerable to online attacks.
Best Hardware Wallets for the Transak ATM
- Ledger Nano S - This hardware wallet is affordable, easy to use, and comes with a host of security features that make it perfect for securely storing cryptocurrency.
- SecuX V20 - This hardware wallet is newer on the market and is easy to use thanks to its intuitive interface and on-screen keyboard. Plus, it connects to your device via USB or Bluetooth. It even includes a hidden wallet feature.
- Ledger Nano X - This hardware wallet uses a dual chip setup. This means that there are two chips inside the device - one MCU chip and one Secure Element chip, which is responsible for storing sensitive data such as your 24-word recovery phrase, private keys, and PIN code. This chip makes the wallet highly resistant to physical attacks.
The Transak ATM is an exciting new addition to the Metaverse. Research and Markets estimate that the global crypto ATM market is currently at $46 million and is expected to raise to $427 million by 2027 predicting that the Metaverse and crypto world is on the rise!