Now that you’re aware of the blockchain games explosion, Gala Games (GALA) is a mark you should not overlook. Gala Games caught the attention of mobile gamers, developers, and investors the world over thanks to its play-to-earn model and ecosystem. However, how do you acquire Gala Games crypto? In this guide, we’ll walk you step-by-step through how to buy Gala Games crypto (GALA).
What is Gala Games Crypto (GALA)?
Before we begin with the purchasing process, it is good to get to know what Gala Game (GALA) is. Gala Games is a decentralized gaming platform that enables its players to own in-game items in the form of NFTs (Non Fungible Tokens). Gala Games is not like traditional gaming where players don’t have real ownership over their assets while game developers do, but, in fact, players own their assets, and they can even earn money playing.
The native currency in the Gala Games ecosystem is GALA. It powers transactions, is a governance token, and is paid to players as rewards. Whether you are a gamer or an investor, GALA is your ticket to buy into this one of the most promising gaming ecosystems in the blockchain space.
Where Can You Buy Gala Games Crypto?
Buying GALA can be done in various ways, with each method having its own advantages. Below, we’ll explore three main avenues: crypto wallets, decentralized exchanges (DEXs), centralized exchanges (CEXs).
1. Centralized Exchanges (CEXs)
For beginners to buy cryptocurrencies like GALA, centralized exchanges are often the most user friendly and convenient way to do so. A CEX is a platform where you can exchange some fiat currency (usually USD or EUR) for crypto or even trade different cryptocurrencies.
Steps to Buy GALA on a Centralized Exchange:
1. Choose a Centralized Exchange: Choose a reputable exchange that has support for GALA. Popular exchanges include Binance, KuCoin, Coinbase, etc.
2. Create an Account: Start up an account with the exchange. To use Hitbtc, you’ll have to give some of your personal information and put in security items like two factor authentication (2FA).
3. Complete Identity Verification (KYC): That said, most reputable CEXs will require you to go through a Know Your Customer (KYC) process. This is to ensure the platform abides by legal regulations to provide a safer trading environment.
4. Deposit Funds: Once you add money to your account with a supported payment method, such as bank transfer, debit/credit card or PayPal, we will instantly credit your account balance.
5. Buy GALA: Select GALA trading pair (GALA/USDT or GALA/BTC) and place order. If you want to wait for a specific price, you can opt for a limit order; otherwise, a market order is available for immediate purchase.
Why Use a Centralized Exchange?
- Ease of Use: Centralized exchanges are easy for users, whether you are a beginner or an advanced trader.
- Multiple Payment Options: Generally, CEXs accept an extensive array of fiat payment methods.
- Security Features: High security protocols are implemented by the leading exchanges to safeguard user assets.
2. Decentralized Exchanges (DEXs)
Another popular option for purchasing Gala Games crypto is via a decentralized exchange, especially for those who are against custodial techniques. However, unlike CEXs, DEXs run without intermediaries and enable peer-to-peer trading of crypto assets.
Steps to Buy GALA on a Decentralized Exchange:
1. Select a Decentralized Exchange: There are many DEXs that support GALA, including Uniswap and PancakeSwap.
2. Get a Compatible Wallet: If you want to use a DEX you will need a wallet like MetaMask, Trust Wallet or WalletConnect but keep in mind that it has to be a non custodial wallet. What these wallets offer is the ability to interact with DEXs without having to give up control of your private keys.
3. Fund Your Wallet: Since DEXs only support crypto to crypto transactions, you’ll need to have a base currency like Ethereum (ETH) or Binance Coin (BNB). You can purchase and transfer these to your wallet on a centralized exchange.
4. Connect Your Wallet to the DEX: As soon as you have your wallet up and running and has been funded, now connect your wallet to the DEX by selecting the ‘Connect Wallet’ option.
5. Swap for GALA: Search for GALA on the DEX to exchange your base currency for GALA. Before confirming the trade, always review the transaction details, that includes gas fees.
Why Use a Decentralized Exchange?
- Full Control: You are using your wallet, not a 3rd party exchange, so you still retain full control over your assets.
- Privacy: One advantage of DEXs is that they don’t require KYC verification, making them a more private option.
- Broad Token Availability: Tokens are often listed before they can be found on the centralized exchanges.
3. Buy GALA Directly via a Crypto Wallet
According to some crypto wallets, you can informally spend cryptocurrencies from the wallet and transact directly with the wallet to spend cryptocurrencies, reducing hassle while buying GALA on a crypto wallet.
Steps to Buy GALA via a Wallet:
1. Download a Supported Wallet: I would recommend going with MetaMask or TrustWallet since they support GALA. Or you can download the app from the App Store, Google Play Store, or install the browser extension.
2. Set Up Your Wallet: Click to proceed to create a new wallet or import an existing one. As a backup, always lock your seed phrase up safe because if lost, you will not have access to your wallet.
3. Purchase GALA: Built in exchanges or third-party services such as MoonPay or Simplex, some wallets allow you to purchase cryptocurrencies. GALA can be purchased by using your credit/debit card and/or a crypto-to-crypto exchange.
4. Store Your GALA Securely: Following your purchase, your GALA will be held in your wallet, where you can manage, transfer or trade them.
Why Use a Wallet?
- Security: With wallets, you have complete control over your private keys and assets.
- Convenience: By buying crypto from your wallet, you eliminate the need to transfer assets from one platform to another.
- Accessibility: GALA is bought and stored in one place.
Storing Your Gala Games Crypto Safely
After buying your GALA, you should decide on how you will store your GALA safely. You have a few options depending on your needs:
1. Store GALA on a Centralized Exchange
If you are trading or staking your GALA often, it may be simplest to keep it on the exchange where you purchased it. This does come with a bit of risk, however, as your assets are in the hands of the exchange.
2. Store GALA in a Non-Custodial Wallet
By using a non custodial wallet, you get full control over your private keys and have full access to your GALA. Hardware wallets such as Ledger and Trezor provide most security by being offline, while web3 wallets like MetaMask ease accessibility to DeFi platforms and DEXs.
3. Long-Term Storage and HODLing
Hardware wallets are the most secure option for long-term storage (or HODLing as it has come to be known, holding on for dear life). They are not connected to the internet, so these wallets are immune to hacking attempts. Using an offline gal account allows you to store GALA and other crypto assets safely until you’re able to trade or use them.
Conclusion
Purchasing Gala Games crypto (GALA) is an intriguing approach to joining the expanding blockchain gaming industry. For beginners to advanced crypto users, the process is the same whether you are using a centralized exchange or a decentralized platform or buying directly via a wallet. With this guide, you will be able to buy, store, and manage your GALA tokens with confidence and take advantage of the groundbreaking opportunities of blockchain gaming. Dive in and begin your Gala Games crypto adventure today.
