The UK’s approach to cryptocurrency rules has been cautious, but it has grown in the post-Brexit economic environment. Although the United Kingdom affirmed in 2020 that crypto assets are property, it has no cryptocurrency regulations. Thus cryptocurrency in the UK is not considered legal cash.
When Facebook changed its name to Meta, it brought the Metaverse concept into the public consciousness, highlighting the potential opportunities within this fascinating new domain. Naturally, there has been much talk about the potential for crypto and the Metaverse to synchronize, resulting in highly customizable virtual worlds and social media platforms.
In the following article, we will take you through the best cryptocurrencies in the UK, explaining what they are and how they work and finally showing you how you can invest in them.
About Metaverse Cryptocurrencies in UK
The Metaverse, as defined by The New York Times, is a collection of online-based virtual experiences, environments, and assets. To be more specific, Crypto Metaverses are virtual worlds that use blockchain technology to establish economies in which users may trade things and monetize in-game assets. As a result, the Metaverse brings together the worlds of video games, cryptocurrency, and economics to offer a unique and thrilling experience.
Many crypto platforms, such as Decentraland and Axie Infinity, have jumped at the chance to establish their worlds where players can create characters and manufacture in-game objects that can be sold for cryptocurrency. These games are referred to as ‘play to earn’ games, allowing users to profit from their creativity.
Ethereum’s blockchain hosts many Metaverse platforms, making it extremely valuable as this crypto sector continues to flourish.
Best Cryptocurrencies in UK in 2022
When looking for the best cryptocurrency in UK to invest in, keep Metaverse tokens in mind. This burgeoning part of the cryptocurrency ecosystem can potentially disrupt various industries.
1. Decentraland (MANA)
When it comes to Metaverse coins, Decentraland is our top pick. Since the Metaverse concept gained traction, investors have been eager to purchase Decentraland, a decentralized virtual reality platform based on the Ethereum blockchain. Users can buy pieces of land throughout the world and use them to create anything they want, such as art or structures. The fascinating part is that Decentraland users will be able to profit from their ideas, resulting in a digital ecosystem.
2. Axie Infinity (AXS)
Axie Infinity (AXS) is another fantastic Metaverse coin to think about. Users can acquire coins and NFTs in Axie Infinity, an online role-playing game (RPG). According to activeplayer.io, over 2.5 million people have used the platform in the last 30 days. Axie Infinity’s creator, Sky Mavis, just acquired $152 million in Series B funding, which will be utilized to take the game to the next level.
3. Enjin (ENJ)
Enjin is a blockchain platform with various uses in the crypto gaming and Metaverse industries. Enjin is a platform that allows users to create digital assets and utilize them in games and apps hosted on the Ethereum blockchain. Because digital assets developed on Enjin are priced in ENJ, the platform’s native token, ENJ, is critical to the entire ecosystem. The need for platforms like Enjin will increase as the NFT mania grows, which is excellent news for the Metaverse token’s price.
Best Cryptocurrency Exchanges In the UK
These days, it appears like everyone wants cryptocurrencies. You’ll need a crypto exchange to buy and sell digital currencies like Bitcoin, Ethereum, and Dogecoin to get in on the fun.
We searched through the most extensive exchange options and data to find the top crypto exchange services to help you choose the appropriate one for you. However, all of them come with one disclaimer: cryptocurrency investments are speculative. They should only be made if you’re willing to endure substantial price swings and a reasonable risk of losing your entire investment.
Binance.com has the lowest costs in the business and a large selection of cryptocurrencies to trade. Binance.com has a primary, form-based platform (under the Buy Cryptocurrency tab) that allows you to buy, trade naturally, and convert tradable cryptocurrencies.
Advanced users can employ a variety of trading order types, such as limit, market, and stop-limit, as well as two comprehensive trading dashboards packed with vital information, such as spot price and 24-hour highs, lows, and trading volume. New users who have no idea what a candlestick graph is (much alone how to interpret one) may become overwhelmed and should stick to the Buy Cryptocurrency option until they better understand the system.
For newcomers learning about mining and seasoned traders looking to establish a trading strategy, the Binance Academy is a one-stop-shop for all things crypto.
If you’re new to cryptocurrency, Coinbase, the belle of the IPO ball in 2021, is the crypto exchange you might be most familiar with. There’s a solid reason for it: Coinbase Pro, the robust business that powers Coinbase, is one of the largest and safest platforms available. (Coinbase Pro was a strong contender for Best Overall Cryptocurrency Exchange.)
Coinbase’s 60-odd tradable cryptocurrencies should satisfy most people trying to get into crypto. Coinbase stands out for its user-friendly design, making it simple to make one-time or recurring bitcoin purchases. However, this convenience comes at a price.
Gemini, like Coinbase, may be the ideal option for newcomers wishing to dip their toes into the crypto seas. Its simplicity and ease of use come at the cost of a higher (and often perplexing) pricing structure, which may be acceptable while you learn the ropes before moving on to its (or another platform’s) lower-cost spot trading choices.
In conclusion, Metaverse crypto is an exciting sector within the cryptocurrency ecosystem that has the potential to disrupt entire industries in the future. By conducting study and exploring an investment in this sector now, you’ll have a substantial opportunity of riding the wave of adoption as the Metaverse expands. You can take help from this article to see your best options of cryptocurrency in UK and then make an informed decision.