How to Buy Gala (GALA) • Steby-by-Step • Benzinga Crypto

Want to jump straight to the answer? You can buy GALA on Coinbase.

Blockchain gaming has been among the hottest sectors in the crypto space, but it’s still early in the development of the play-to-earn gaming sector. 

Gala Games is no newcomer. It has been around for over 2 years now, and the price of the utility token GALA has been a beneficiary of the surge in blockchain gaming popularity. The price of GALA exploded in late 2021, increasing by over 900%. 

But is GALA still a good investment? Learn more about Gala now.

What is GALA?

Gala Games is a blockchain NFT gaming platform that creates play-to-earn blockchain games. Since its launch in July 2019, Gala Games has grown to 1.3 million monthly active users, with 26,000 NFTs sold to date. The most expensive NFT was valued at $3 million.

GALA token is the utility token for Gala Games. It is used to buy in-game items, make peer-to-peer payments and reward node operators. 

Gala token began trading in September 2020. Originally built on the Ethereum blockchain, Gala Games recently took advantage of the p.Network bridge to allow the GALA token to also run on the Binance Smart Chain (BSC). 

The Gala network is secured by its own set of nodes called Founder’s Nodes. There is a maximum of 50,000 Founder’s Nodes allowed by Gala Games that validate in-game transactions and help secure the network. 

The Gala node ecosystem is a triple-proof node system consisting of Proof-of-Work (POW), Proof-of-Stake (POS) and Proof-of-Storage. Gala Games is a decentralized ecosystem with over 16,000 player-run nodes around the world. 

Brief History of GALA

In September 2020, Gala Games launched the GALA token in an unconventional way. There was no ICO (Initial Coin Offering), and you could not buy the token directly from Gala Games. 

Instead, the token had to either be earned by running a founders node, referring users to purchase a Founder’s Node, referring people to play games on the Gala Games platform or through game play. 

The token has a circulating supply of 7,542,496,572 and a maximum supply of 50 billion. At approximately 0200 UTC daily, there are 17,123,286 new GALA tokens introduced into the circulating supply. 

Half of it is distributed to Founder’s Node operators and the other half to the Gala Games conservatorship. Every year on July 21, Gala Games halves the daily distribution amount. Next July 21, instead of 17,123,286 new tokens daily, there will be 8,561,643. 

2021 has been an excellent year for the GALA token. The closing price for GALA on January 1 was $0.001028, and GALA just set a new all-time high of $0.8367 on November 26. That is a gain of over 81,000% in less than a year. The majority of the gains came in the last 90 days. 

How to Buy GALA Crypto.

Ready to invest in Gala? Review the necessary steps to secure your GALA tokens now.

  1. Open an online account.

    If you don’t already have an account at an exchange that lists GALA, that’s the first thing you will need to do. We recommend Coinbase to purchase GALA tokens. The design of the Coinbase trading platform makes it easy-to-navigate, and it’s perfect for new investors. 

    Simply follow the step-by-step instructions to set up your account. During the process, you will set up 2-step verification using your phone number. 

    For even more security, it is also good to set up 2-step verification using Google authenticator. The final step will be to link your bank account and transfer in some fiat like dollars or euros so you can start buying.

  2. Buy or download a wallet (optional).

    After you buy GALA, you will need a place to store it. You can keep it on the exchange, but then you must accept the risk of a possible hack and loss of your crypto. 

    Coinbase has excellent security features to minimize this risk, but some risk remains. Each investor must assess their risk tolerance when deciding where to store their crypto.

  3. Make your purchase.

    After you have secured an account and a crypto wallet, you can buy GALA. After you log in to Coinbase, click on the blue Buy-0Sell button on the upper right side of the page. That will open the Buy-Sell-Convert window, which defaults in the Buy tab. 

    Next, click on the Buy section and scroll down to GALA or type GALA into the search window. Click on GALA, and enter the amount you would like to buy. 

    If you want to make this a recurring purchase, click where it says One Time Purchase and set up your recurring purchase. Otherwise, after you enter the amount you want to buy, simply click on Preview Buy. You will then see all of the details of your purchase, including the transaction fee. If you like what you see, just click on Buy Now, and the GALA will appear in your account within a few seconds. 

Best Cryptocurrency Wallets For GALA

Best Hardware Wallet: Ledger