Play-to-earn gaming platforms that operate on the blockchain amassed huge public attention last year.
Axie Infinity’s fall from grace became a topic of concern among crypto investors this year.
But there are still other gaming companies like Gala Games with raves with long-term potential.
In this article, will introduce Gala Games– known as a developer of games that everybody wants to play.
We will include a detailed guide on how to buy GALA on major crypto exchanges. If you are a fan of popular online games in the early 2000s like Farmville and Poker, read on.
Best Exchanges to Buy GALA 2023
With its easy-to-navigate platform, beginners and advanced traders alike are comfortable using eToro when trading crypto.
The Tel Aviv-based entity gathered popularity due to its straightforward approach to trading.
It has the simplest registration process that involves signing up, verification, and funding.
In less than ten (10) minutes, new users can already buy, sell, and trade using their new accounts.
Consequently, eToro does not charge any commission on its crypto trades. Instead, it employs a 1% market spread fee in every buy and sell which is especially beneficial to low-volume trades.
Also, the minimum deposit should be the least of your worries since the site requires only $10 initial account funding in most countries.
Another factor that brings users to eToro on top of the considerate fee structure is its unique features.
Investors can make use of CopyTrader to track and profit from expert traders’ portfolios.
Meanwhile, there is the social feed feature for those wanting to have real-time updates on crypto.
Binance played a critical role in making cryptocurrency more accessible to retail investors. Before its launch in 2017, crypto exchanges are limited in number.
Also, high transaction fees dismay potential traders from joining. But Binance managed to strike a balance between quality and accessibility.
This site’s most appealing factor has got to be its low fees. With a flat rate of only 0.1%, normal traders can already buy and sell tokens and ride price fluctuations.
This rate lowers as trading volume increases. The trading deduction could be as low as 0.02% for accounts trading more than five (5) billion BUSD in a 30-day period.
Another factor that entices new traders to Binance is its rewards mechanism.
It offers a referral bonus and allows existing users to get up to 40% commission from the new traders they referred.
Staking and locking savings are also some of the ways to earn passive income on the platform.
For investors with no problem entrusting their accounts to artificial intelligence, Pionex is for you.
The platform is loaded with 18 easy-to-use trading bots that could automate the crypto trading experience with a click.
While different bots act with different purposes, the main strategy remains to buy low and sell high.
Pionex offers a very low fee of only 0.05%, meaning frequent trading is not a problem especially if transaction fee is this low.
Pionex is recommended for traders capable of trading at higher volumes.
Since bots take advantage of even the slightest price fluctuations, the best way to earn big is to bet big.
It offers more than 120 cryptocurrencies including GALA and 15+ fiat currencies.
Best Crypto Wallet to Store GALA
Recently, hackers had taken $600 million from Axie Infinity’s Ronin network. Hacking incidents like such are widespred on cryptoverse.
This risk calls for the need to have a secured device where you can safely store your holdings.
Unfortunately, both Trezor and Ledger still do not support GALA on their respective platforms.
For investors wanting to get hold of their private keys, you may leverage using a soft wallet that functions just as securely as any other cold wallet.
Trust Wallet is available for iOS and Android users and can also be accessed using a personal computer.
It is free to download takes only a very low storage space which makes it an ideal app to keep. It can be funded using different mediums, including a debit/credit card payment.
Trust Wallet is owned by the popular crypto exchange, Binance. It supports more than a million digital assets, thousands of crypto coins, and 53 blockchains.
Step-by-step Guide on How to Buy GALA
Below is a detailed guide on how to buy GALA on crypto exchanges:
Step 1: Registration
During sign-up, websites require creating a username and a password to start.
After filling-in the details, new users should also agree to the Terms and Conditions to complete registration.
Step 2: Verification
Account verification is critical in a new investor’s trading journey. This would determine whether you will be allowed or not to trade on a certain exchange.
During this stage, users are mandated to upload proof of identification, commonly government IDs and bank statements, to verify their accounts.
Step 3: Deposit
After verification, you may now start depositing to your account. There are different mediums in which you can fund your crypto holdings.
The most commonly used are bank transfers, credit/debit card transfers, and online funding.
Step 4: Buy GALA
You may now start buying GALA using your new trading account. Type “GALA” on the search bar, enter the amount you want to trade and click “Buy” to complete the order.
You have just made your first GALA purchase!
All About Gala Games
Gala Games is founded by the co-founder of Zynga, the developer behind popular games such as Poker and Farmville.
If you have played this games in the early 2000s, you will instantly develop a sense of kinship with Gala.
The platform currently exists on both the Ethereum blockchain and the Binance Smart Chain.
But it has plans to migrate operations on its homegrown native blockchain which it will call GalaChain.
This initiative is expected to reduce network fees and support growth. Spectators are getting excited as GalaChain is already in late-stage development.
Unlike other earn-to-play sires, Gala players can own their gaming items and trade them on secondary exchanges in the form of NFTs.
So far, it had already sold 26,000 NFTs as many individuals are interested to buy gaming digital assets nowadays.
Currently, the platform is home to 1.3 million active users. It is equipped with 50,000 nodes called “Founder’s Nodes.”
These nodes validate in-game transactions and vote which games will be released during every period.
Price History of GALA
GALA is the medium of exchange in the Gala Ecosystem and started trading on exchanges in September 2020.
The utility token surged 50,000% in 2021, performing better than Axie Infinity and The Sandbox. It currently exchanges hands at $0.26, down 69% off from its ATH.
It has a market capitalization of $1.8 billion and is ranked #61 on the coinmarketcap website.
GALA has a total coin supply of 35 billion, only 6 billion of which are in circulation.
Return on Investment
If you have invested in GALA during the same period last year, your portfolio is up 1,128.86%.
But prices are off 31.00% from three months ago. The token started trading sideways at the start of the year due to frequent sell-off.
Is GALA a Buy or Sell?
GALA could be considered a good buy. At its current price of $0.26, investors planning to enter now are not far off from reaching its all-time high level found at $0.29.
Also, it is a good choice for traders looking for a new play-to-earn coin where they can migrate their Axie dumps into.
Innovation is the biggest advantage of Gala Games compared to other platforms.
It constantly invests for growth and higher scalability, with plans to transfer operations to its own blockchain soon.
This initiative is not commonly seen on blockchain gaming sites before.
GALA Price Prediction for 2022, 2024, and 2026
Before you buy GALA, here are the near and long-term price predictions for the coin.
As mentioned, bewildered investors from the recent hacking breach on Axie Infinity will look for a new token to put their trust into.
If GALA will succeed in getting the market’s attention, its price could breach past its all-time high level and approach $0.42.
In a bullish scenario, the token will end the year at $0.94.
The play-to-earn market is forecasted to balloon to $200 billion from its current level of $10 billion in the next two years.
If this comes into reality, GALA’s price would skyrocket at once. At a most conservative estimate, GALA will settle at $3.00 during most months in 2024.
The price could hit as much as $6.00 if buyers will continue to come in and provide support.
Metaverse is expected to become an established platform in 2026 and blockchain-based gaming will be part of people’s everyday life.
It is estimated that Metaverse users will spend at least an hour of their lives playing games, thus benefiting Gala Games.
With this strong backing, GALA might finally hit $10.00 in 2026.
Conclusion: How to Buy GALA
GALA is showing a lot of potential given its strong user base and novel growth plans.
Since the play-to-earn market still grows and has no plan to stop expanding soon, more traders will develop an appetite for tokens directly involved in the field.
Cryptocurrency is a high-risk investment and capital is always at risk. Keep yourself updated on the latest news on the space.