How to Buy Mantle (MNT)

One of the major benefits of Ethereum is that it allows users to create their own add-ons to the blockchain. These projects are modular, meaning that they do not have to be used by every Ethereum participant. However, anyone on the Ethereum chain can use them, and most of these projects provide some value to Ethereum users. Mantle is one of these projects. It is hoping to bring more scalability and faster speeds to the Ethereum chain through a unique process. 

What is Mantle (MNT)?

One of the critiques of the current Ethereum blockchain is that it is hard to upgrade singular issues without changing the entire chain. Mantle hopes to solve this problem by separating the tasks performed by Ethereum into three main buckets: transaction finality, data availability and transaction execution. By separating these three distinct tasks, Mantle can optimize each one individually and provide faster speeds at lower costs.

One of the main uses of Mantle is to create decentralized applications (dApps). dApps are projects that use a certain blockchain to operate, but provide some value for users on the chain. Some examples of dApps on the Mantle ecosystem are Mintle, an NFT marketplace, and Range Protocol, an asset management platform.

Another reason developers are attracted to Mantle is for the preset UX options. Typically, developers on Ethereum spend most of their time creating the back end of the projects. This means that the projects run smoothly, but they do not look very good. Mantle solves this by allowing users to code the same way as they would on the traditional Ethereum chain but give them access to a library of templates for dApps. 

Another selling point for developers is their funding. They offer grants for developers, as well as the Mantle eco fund. The fund of $200 million allows them to invest in dApps and other technology in the ecosystem. This can make access to funding much easier for developers. 

MNT is the native token. It allows users to pay gas fees for creating new projects, as well as governance. 

Brief History of Mantle (MNT)

The idea for Mantle came from a decentralized autonomous organization (DAO). This means that it has no single founder. However, Ben Zhou and jacobc.eth were major contributors during the beginning stages of the project. 

The DAO originally used the BIT token for governance. However, after the project was rebranded to Mantle, it decided to allow users to convert their BIT tokens on a 1:1 ratio for MNT. Users can still convert their tokens on a 1:1 basis until Jan. 17, 2024. 

MNT began trading in July 2023. After an initial spike, it fell in price for several months before recovering to new all-time highs in early December 2023. The token currently ranks in the top 50 in terms of market cap.

How to Buy Mantle (MNT)

Now that you have a basic understanding of Mantle, you may be interested in purchasing the token. The process is straightforward, requiring three easy steps.

Step 1: Open an Online Account

Since Mantle is still a relatively new crypto project, it's not available on some of the most prominent crypto trading platforms. However, it is available on Gate.io and HTX. You can get started on these sites by signing up with an email, verifying your account and then connecting your bank. As Mantle becomes more popular, it may become listed on more exchanges. 

Step 2: Buy a Wallet (Optional) 

Since Mantle is not currently listed on the top crypto exchanges, you may be looking for a more secure way to hold your funds. Wallets are a great way to add an extra level of security to your assets. While wallets are not needed, they can offer peace of mind.

Best Hardware Wallet: Ledger Nano S

Ledger is a hardware wallet that supports all ERC-20 tokens. A hardware wallet is a physical object that holds the private key to your crypto. Without the physical key, your crypto is inaccessible.

Ledger currently has two models: the Ledger Nano S Plus and the Nano X. The Nano S Plus is a rudimentary wallet meant for beginners to safely store crypto. The Nano X is for more advanced users, offering Bluetooth capabilities and more storage.

Best Software Wallet: Coinbase Wallet

Different from the crypto brokerage, Coinbase Wallet is a wallet service provided by Coinbase. You do not need a Coinbase account to have a Coinbase wallet. The wallet supports most of the major blockchains, including Ethereum and MNT. 

Coinbase wallet is a great option for those looking for more security but do not want the hassle of a physical device. It is also free, whereas most hardware wallets require purchase. 

Step 3: Make Your Purchase

To purchase MNT, navigate to the MNT page using the search feature on your crypto brokerage. Once you're there, hit Trade and select the amount of MNT to purchase. You can then execute the trade. Your MNT should appear in your portfolio along with a trade confirmation email. 

Bonus section: Keep an eye on the exchanges that offer MNT, which can bring in new buyers and influence the price.

Trade, Sell or Convert Mantle (MNT)

To sell your MNT, navigate back to your holding from your portfolio. From there, you can hit the Sell button. Select the amount of MNT you would like to trade and execute the transaction. Your MNT will be converted into fiat (USD). You can then send this currency back to your bank account.

To convert your MNT, the process is similar. Find your position and select “Convert.” You can then select the currency you want to convert your MNT to. You can also sell your MNT and use those funds to buy a different currency.

Current Crypto Prices

With a Bitcoin halving, spot Bitcoin ETFs and Ethereum upgrades, there is buzz in the crypto community about what will happen in 2024. While some believe that these events will boost prices into the next bull market, others believe that these events are already priced in or are a bull trap. Only time will tell what will happen to crypto prices in 2024. 

Is Mantle (MNT) a Good Investment?

While Mantle could provide solid value to the Ethereum chain, it is not the first to do so. It faces strong competition from other layer 2 solutions such as Polygon (MATIC) and Immutable (IMX). Mantle will have to continue differentiating itself from these other projects to continue rising in price. If you believe that mantle could become one of the top layer 2 solutions, then it may be a good investment. However, it is important to take into account your personal financial situation, as well as your own risk tolerance before making an investment decision.