Where to Buy Gala – Beginner’s Guide

Gala is the cryptocurrency powering Gala games, a gaming platform that combines non-fungible tokens and a blockchain gaming ecosystem to provide ‘play to earn’ opportunities for players. Players can earn Gala coins by achieving milestones in games or through node participation.

Launched in 2020, Gala saw a rapid rise in price by over 500% in November 2021 and still has room to grow today. In this guide we’ll cover where to buy Gala at a secure regulated crypto platform.

Where to buy Gala token – Top Platforms

Due to its popularity in the blockchain gaming space Gala has been listed on most of the best crypto exchanges. This section reviews three of the most suitable platforms for investing in Gala or any other cryptocurrency on the market.

1. Crypto.com – Competitive prices for those seeking to Buy Gala

Crypto.com is a cryptocurrency exchange currently home to 10 million investors. Launched in 2016, Crypto.com has been climbing the charts with a trading volume of $1.7 billion at the time of writing.

It is among the most sought-after crypto trading platforms due to its focus on security, user-friendliness, and competitive pricing. It listed GALA on 26th October 2021.

To invest in Gala via debit card, users have to pay a commission of 2.99% on this platform. But, Crypto.com waives this fee for the first 30 days after account creation. Crypto.com charges 0.04% to 0.4% maker fees and 0.1% to 0.4% taker fees for those wishing to use crypto to invest in Gala.

At the heart of the crypto trading facilities lies the Crypto.com mobile app, a freely downloadable application available on android and IOs devices. For those who trade in crypto assets on the go, the app provides an intuitive and straightforward experience.

In addition to Gala, Crypto.com hosts more than 250 digital assets, including BTC, ETH, DOGE, DOT, and ADA. This crypto exchange provides facilities for both crypto and fiat-based purchases when it comes to payment options.

Cryptoassets are a highly volatile unregulated investment product. 

2. Coinbase: High fees but User-friendly

Coinbase listed Gala in December 2021 and provides a user-friendly and yet, a high-costing approach to investing in the titular cryptocurrency. The platform has over 70 million customers worldwide and is continually expanding with the addition of more countries.

Due to Gala games’ potential in the blockchain gaming industry, traders from all over the globe are leveraging Coinbase’s user-friendly interface to invest in Gala.

The platform takes a straightforward approach to investing in cryptocurrency. Users only need to create an account and provide the necessary information to start the trading process. These KYC details consist of government IDs and proof of address. After making an account, users can use a debit card or bank transfer to invest in Gala.

The transaction process is almost instant but at a high cost. Coinbase’s current transaction charges are 3.99% for using a debit or credit cards to buy crypto. Coinbase lowers these charges for those investing in cryptocurrencies using their bank accounts. That being said, users still must pay a 1.49% trading commission to Coinbase if they wish to invest in Gala.

Due to the high cost incurred during the transaction process, we recommend using a limit order on Coinbase Pro, which Coinbase owns but has set up a separate website for.

Investment in Coinbase is not limited to Gala. As one of the most sought-after crypto platforms globally, it hosts more than 100 crypto assets, the most well-known among them being Shiba Inu, Bitcoin, Cardano, Decentraland and more. Despite the high costs, users still prefer Coinbase because of its humble minimum investment requirement of 2$.

Another that Coinbase has earned favour among the crypto-crowd is due to its security features. In addition to the standard Two-factor-authentication approach, Coinbase also provides a hardware security key to support 2FA on mobile devices.

Cryptoassets are a highly volatile unregulated investment product. 

3. Binance: Trade Gala at a 0.10% Fee

Binance listed Gala on 13th September 2021 and has since become the most cost-efficient platform to invest in this cryptocurrency. Charging a mere 1.8% for credit/debit card exchange, Binance has amassed a userbase of 90 million.

But, for the longest time, Binance stood as an unregulated crypto exchange, having only recently required regulatory approvals from Bahrain and Canada.

For users purchasing Gala using fiat methods – debit/credit card – Binance charges a small 1.8%. And for depositors using cryptocurrency for transactions, the crypto exchange waives all the charges. Additionally, for those seeking to swap their Gala for Bitcoin, BNB or Tether, Binance’s commission is 0.10%.

The free deposit incentive is not limited to crypto, as funds deposited using ACH and domestic wire bank transfers won’t cost the users anything. But, while the cash-out is free for ACH withdrawals, charges are applicable for domestic wire transfers.

Binance allows cross-border payments via its free Binance app, allowing users to send crypto anywhere. Currently, it supports more than 500 cryptocurrencies. Also, the app will enable users to transfer crypto-assets to non-Binance users instantly.

The highly intuitive interface, low charges, and instant transactions have made Binance gain the favor of many beginner-level investors and thus an appropriate platform to invest in Gala.

Cryptoassets are a highly volatile unregulated investment product. 

What is Gala?

Gala is the native token of Gala games, a gaming platform Ethereum Blockchain and Binance Smart chain. The Gala Games platform has various features, including multiple blockchain games and an NFT marketplace, the Gala Store.

Here, the users can earn Gala coins as rewards for completing in-game milestones and use them to purchase NFTs from the in-house NFT store or participate in network governance and consensus.

Gala Games – Overview

Eric Schiermeyer, CEO of Intermediate Media and the co-founder of Zynga, founded Gala Games alongside Mike McCarthy, the creative director of Zynga and the mind behind the once uber-popular Facebook game, Farmville.

Gala Games intends on becoming the biggest blockchain gaming ecosystem in the market. The founders bootstrapped this platform without any VC funding or Gala token ICO, and their primary source of income is through NFT sales for current and upcoming games. Currently, the tokens reside on Ethereum, but developers will soon move them to the upcoming Galachain sidechain.

The platform currently has two developed games, Town start, and Spider tanks, and both of them have seen high traction in South Korea. As per the official website, there are 1.3 million active users and the marketplace has sold 26k NFTs till now, with the most expensive being worth 3 million dollars.

There is no active player tracker, and we couldn’t find the NFT trading volume on any NFT tracker website. Perhaps, it is because a separate set of Gala nodes is handling the tracking. What are gala nodes? It is unclear. All we know is that this technology will support the Gala chain sidechain – one that will feature 50,000 gala nodes and scale up to 100 million active users. Currently, 23k gala nodes, known as Founder’s nodes, are active.

What is Gala coin?

Gala is the native utility token for Gala games. It exists as an ERC 20 token in the Ethereum blockchain and a BEP 20 token on the Binance Smart chain. Currently, one can leverage these tokens to purchase NFTs and in-game items. Additionally, gamers can use them to buy the license for Founder’s node.

In the future, gamers will likely use cryptocurrency to conduct transactions on the Gala chain. The first Gala tokens were minted in July 2020. That year, the total minted tokens were 25 billion. As per the emission schedule, the amount of Gala minted will be cut in half every July. The plan states that 50% of the newly minted Gala goes to Founder’s node, and the remaining goes to the Gala game conservatorship.

But the current supply is 35 billion – contrary to what it should be as per the emission schedule.

Is Gala a Good Investment?

Investing in any crypto asset carries many risks due to the volatility of the blockchain market. Therefore, to aid users in making an informed decision, we have come up with a list of aspects to keep in mind before investing in Gala.

Getting a license for a founder’s node

The Gala Games website offers users the opportunity to get the license to run Gala nodes. The license for the Founder’s node costs 478K Gala. Those with the founders’ node earn rewards in the form of Gala and NFT from current and future GALA games. To operate the node, owners have to run the extension on their systems for 6 hours a day, and doing so will net them $150 per day or 50,000 dollars per year.

Introduction of new nodes on Galachain

The introduction of Galachain will come with new types of nodes: free and paid. Where paid nodes will provide infrastructure support to this chain, free nodes will support the existing nodes.

Flexible adjustments to rewarding methods based on the requirements

Galachain will automatically adjust the rewards granted to the nodes based on the requirements. For instance, owners of the Founder’s nodes will acquire more rewards if there is a need for more computing power. If more security is the need, paid nodes will get more Gala tokens. And more storage requirements will yield rewards for free nodes.

A robust Node Map

Gala Games has created a robust “node” map to highlight the future potential of Gala. As per this map, future potential rewards will be limited to the game they are derived from. For instance, NFT rewards that the users earn will come from the game that their nodes support.

Every game-specific node – nodes supporting particular games – will have its own governance. Owners of Founder’s node are likely to yield the most rewards after being paid a part of the license fee paid for game nodes.

NFTs and Partnership Programs

Mirandus is an upcoming MMORPG on Gala Games. A fantasy world powered by blockchain technology, Mirandus is advertised to give gamers the power to create their own content. The investors are eyeing the game’s launch after the drop of Mirandus NFT at the end of last year.

Also, Gala Games have added support for Polygon with the ecosystem, and Flair support is soon to come. The gaming platform is planning to add more EVM-compatible blockchains in future.

Gala price

At the time of writing, Gala Price is hovering between 0.19 to 0.20 dollars. It is safe to say that Gala has, at least for now, reached the accumulation stage.

Gala Price Via CoinMarketCap

The current market cap of Gala is $1.4 billion, and it ranks at #68 compared to other crypto assets as per CoinMarketCap.

Over the course of its roadmap, the Gala price has been volatile. Here is the outline of what it has gone through till now:

The price of Gala increased by 500x since the token’s launch in September 2020. It peaked at $0.71 in November, surpassing Decentraland and Axie Infinity. Signs of that upward surge resulted from various price pumps that happened simultaneously with announcements.

1. The first increase happened in September 2021 after Binance announced that it would be listing Gala in the catalog.
2. Soon after, Gala games published a video of spider tanks; the action-oriented video fuelled Gala’s market traction even more.
3. The second pump happened in November 2021 with the announcement by Coinbase to list the crypto on its website. Another factor behind the surge was the announcement by Gala games of the utility of the recently dropped VOX NFTS, Mirandus.
4. The third pump is an anomaly – happening during Gala’s downtrend. The likely cause of this pump was the announcement during Gala Conference that crypto VC firm C2 Ventures started a $100 million metaverse fund in association with Gala games.

These primary pumps all happened last year. And now, the price has taken a sideways trading trend since January, shifting from $0.18 to $0.20.

Gala Price Prediction

From the way Gala’s price graph has been trending, it would be safe for us to say that it still has much room to grow. Its competitor, Axie Infinity, remains ones of the most popular names in the niche but has been declining in valuation steadily.

If Gala catches up in the future, it could overtake AXS to dominate the gaming crypto coins sector.

Unfortunately, Gala lies on the supply side economic equation. Millions of tokens are being minted every week to reward the Founder’s node. And from what the graph tells us, it would be wise to assume that all the tokens are being sold. Also, Eric Schiermeyer has said they would set aside 2 billion Gala to fund Gala Games. It is an aspect that is likely adding to the selling pressure.

Another fact to note is that NFTs are driving the price of Gala, and the trading volume of these NFTs is still unknown to most. That said, Gala has stronger fundamentals than Decentraland, and with the upcoming Mirandus MMORPG, days will be brighter for this gaming cryptocurrency.

Update – the GALA price action retraced during the 2022 bear market but then made headlines in early 2023 for a sharp uptick. See an updated Gala Games price prediction for 2023 in the video below.

Risks of Buying Gala

Most concerns about Gala Games stem from communication and transparency. Currently, there is no documentation insight. Most info we’ve been able to gather lies on the support page, and even that wasn’t easy to find. Not only is it not easy to read, but it is also not user-friendly. Details are too vague or complex for investors to calculate node rewards.

Also, there is no community other than discord, and it alienates those seeking concrete ideas and project proposals. The developer’s inclination to not create a roadmap can be seen both positively and negatively. While it can make people apprehensive about their investments, it will also keep the opportunistic investors at bay, those who are it for the gains but not for the games.

Ways to buy Gala

Depending on the preferred payment methods, users can invest in Gala using the following ways:

Buy Gala with Credit Card or Debit Card

The most efficient way to buy Gala is using a debit or credit card. Fiat currencies are inclusive and give room to newcomers to invest in cryptocurrencies.

Buy Gala with PayPal

For those seeking to invest in Gala without providing their bank Details, PayPal is an option. It will allow users to connect their PayPal accounts and then make the payment after entering only the PayPal account number.

Buy Gala without KYC verification.

Buying Gala without KYC verification is not possible anymore because all legitimate crypto exchanges seek thorough information about the buyer. These exchanges are compelled by the growing demand to introduce regulations in the crypto ecosystem.

Best Gala Wallet

When it comes to the crypto wallet, we recommend that crypto investors must choose one that has the most security and can store Gala conveniently. To that end, we prefer hardware wallets. Originally designed to hold private keys, they don’t link to the internet. And thus, they are more secure than any software wallet.

Because of the lack of internet connectivity, there is no possibility of remotely meddling with such a wallet. It consolidates the security of the crypto assets even more.

That said, hardware wallets tend to be price-intensive. And thus, some of the higher-end software wallets capable of providing high security are preferred among the veterans and novices of the blockchain ecosystem. It supports up to 150 currencies and allows users to exchange more than 500 currency pairs. For added security, it has DDoS protection.

Conclusion

Gala Games is set on creating the biggest blockchain gaming ecosystem. It takes the approach of letting players have ownership over their digital assets. That desire, combined with the unparalleled experience of the founders, makes it a good investment. That said, drawbacks are present. But, if it does deal with them and utilizes its strength, Gala Games can easily surpass its competitors and become the leading blockchain gaming ecosystem in the industry.

To invest in Gala coins, one must use a regulated platform that focuses on cost-effectiveness to give a better buying experience to the users. In that regard, Crypto.com has our vote. It not only has Gala, but hosts of other game-based crypto coins as well, including Decentraland (MANA) and Axie Infinity (AXS), making it suitable for investors looking to dive into metaverse cryptocurrencies.

Frequently Asked Questions about Gala Token