How to Buy Axie Infinity? Step by Step Guide to Buy (AXS) 2022
The growth of the cryptocurrency industry over the last ten years or so has been nothing but miraculous. However, more recently the launch of Non-Fungible Tokens or NFTs has brought new excitement into the crypto space. NFTs are blockchain-powered products that allow folks to own unique digital art.
So far, some NFTs have in fact sold for tens of millions of dollars and the industry is just starting to heat up. The Axie infinity is trying to capitalize on the NFT craze. Axie Infinity is basically an NFT-powered online game that allows users to earn cryptocurrency by simply playing a game.
We will delve deeper into the game below, including giving you details about how it works, the opportunities it offers, and why it is such an innovative idea in this world of blockchain technology.
But just as a disclaimer, the editorial opinions expressed here and the information contained in this post are for educational purposes only. They should not be seen in any way as investment advice or financial advice. Before you take any action, do your own research and understand the significant risks associated with cryptocurrency trading.
Table of Contents
How to Buy Axie Infinity: What Is an Axie Infinity (AXS)?
There is a whole section below on how to buy axie infinity axs. So, be sure to read till the end for more details. In the section, we thought it would be great to fully focus on what axie infinity is. To put it in simple terms, Axie Infinity is basically a blockchain-powered game that comes with a play as you earn model.
In essence, you could potentially get amazing cryptocurrency rewards by playing this battling game. The game involves battling digital creatures called Axies. Each Axie has a non-fungible token or NFT attached to it. This means that each of these creatures is unique in its own right.
Nonetheless, the game allows you to breed axies on your own so that they can battle other axies inside the infinity universe. And since each of these axies is an NFT, you can sell them on the NFT marketplace offered as part of the game. So, there are three main ways to receive compensation on Axie Infinity: Here they are:
The Axie Infinity (AXS) Token
As noted above, the Axie Infinity gaming universe is built on the Ethereum blockchain. For this reason, developers have created a native token called the Axie Infinity Token or AXS. The AXS tokens are mostly used for platform governance.
So, if you are interested in investing in the Axie Infinity universe and shaping its future, then you can buy this token. Token holders of the AXS are essentially the most powerful people in the game’s universe and besides, there is a chance the value of the token may increase as the game becomes more popular.
The Axie Infinity NFT marketplace is perhaps the best place to make money playing this game. Remember breeding axies is a huge component of how things work here. The axies are themselves NFTs and can be sold between users. While some users simply buy them to play the game, others see these NFTs as worthy investments that can appreciate in value over time.
Small Love Potions (SLPs)
Small Love Potions or SLPs are Ethereum based tokens that are also part and parcel of the axie universe. SLPs are rewarded to users who move past different levels in the game. Think of it as the price you get for winning a given round.
SLPs are massively important because they represent the in-game currency of the infinity universe. For this reason, they can be used to buy things like land inside the game. The more SLPs you have, the better.
Where to buy Axie Infinity?
So, before we list down places where you can buy AXS, it is important to note that we are actually about the native token and not the NFTs. In essence, if you wanted to buy axie NFTs, you will need to enter this play to earn game. You also need a minimum of three axies to play and since the cheapest of these NFTs is around $200, prepare at least $600 to get started. Either way, here are four main brokers where you can buy AXS.
Gemini is one of the most popular cryptocurrency exchange platforms in the world. It has hundreds of tokens to buy and put in your software wallet or hardware wallet. The platform allows you to exchange AXS and other cryptos with fiat currencies. You can also exchange different crypto pairs here.
Based in the United States, Gemini also offers additional services including a secure Ethereum wallet. You can also buy all sorts of altcoins here. The fees are quite low too especially for large-volume traders. You should also enjoy a fast and secure platform as well.
Coinbase is one of the biggest exchanges in the world for buying AXS and other major cryptocurrencies like Bitcoin. Coinbase is also so easy to use. In fact, you can buy AXS, alt coins, and other major digital assets here in a matter of minutes.
First, you need to open an account and create a strong password. You will then link your bank account as one of your deposit methods. But if the bank account or bank transfer is not workable for you, Coinbase also lets you add a debit card. You can then deposit money in your preferred currency and buy AXS in no time. Coinbase also offers its own cryptocurrency wallet and comes with an easy-to-use interface as well.
Although Binance is seen as the ultimate crypto exchange for Bitcoin enthusiasts, the platform has several other assets including the AXS tokens. Binance also gives users the chance to trade complex crypto derivatives in fact, it is one of the few exchanges that allow trading cfds.
You will need a debit card or wire transfer to deposit money before you start buying AXS. The legal status of Binance in the US still remains in limbo but you can still use Binance US in case you’d like to buy digital assets through this provider.
Besides, Binance also offers state-of-the-art tools for trading bitcoin and other coins. In case you are looking for one of the most advanced crypto exchanges with superior technology and excellent reputation, then Binance is the platform for you.
You can also buy AXS coins on Crypto.com, one of the most experienced and highly secured exchanges in the world. In addition to the benefit of extra security, you also get a wide range of coins here to diversify your crypto investments.
As with the other exchanges above, Crypto.com also has cryptocurrency wallets to store your assets. You also get a robust customer support team, including live chat support. Recently, Crypto.com also launched an NFT marketplace where users can collect, sell, or buy non-fungible tokens. Crypto.com also meets relevant regulatory requirements in the US so it should be a good place for US citizens to invest in different coins.
Buying Axie Infinity Pros and Cons
Although axie infinity is one of the most popular games, there are still a few pros and cons associated with its native coin, AXS. Here they are:
- The coins are part of an interesting take on blockchain in gaming and NFTs, making them quite popular.
- The Axie universe, where the AXS coin is based, keeps evolving and could get bigger in the near term
- The coins are backed by a team of expert developers with experience in gaming and crypto
- You can buy, trade, or swap AXS with other major currencies at low fees
- The coin is also available in some of the leading exchanges in the world.
- We did not find enough info about the token on the relevant regulators websites
- The future of these coins is directly intertwined with the game which can be an issue.
- You may need a very specific provider to buy and sell these coins.
Reason to Purchase Axie Infinity?
If you are going to pay to invest on AXS, then you should know what you are getting in return. The main reason why people are buying AXS is based on the innovative and futuristic nature of the Axie Infinity Universe.
This battle-style game has managed to combine the thrill of gaming with the futuristic aura of NFTs. The blockchain game, which is partially owned by investors and a company called Sky Mavis, promises to unlock the value of NFTs in the gaming world.
So far, when you look at axies stats right from the time the first axie was sold, it is clear that the platform is actually growing. As the Axie infinity universe grows, its native AXS coin will also grow with it.
This gives token holders like you a real chance to grow your money under your own circumstances. In addition to this, with the rise of so many meme coins over the years, it must feel nice to have a cryptocurrency in your wallet that is actually backed by something real.
How to Buy Axie Infinity?
In the same way you pay to invest in stocks, you will also need some money to get AXS in your portfolio. Nonetheless, make sure you also follow the three steps below:
Open an online account
The first thing to do is to open a cryptocurrency trading account. We have listed four major brokers above and any of them should be a good one to start with. Once the account is open, you must deposit some money there before you start to trade bitcoin, AXS, and other currencies.
Just to give my own advice, always learn as much as you can before you trade crypto. But if you are confident in what you are doing, you can go to the next step.
Download a crypto wallet
Once you buy your AXS directly or through a limit order, you will need somewhere to put it. This is where you have to download a wallet for your axie coins. Now there are two types of wallets, including software-based or hardware ones.
Hardware wallets tend to be more secure and ledger nano is perhaps one of the best in that regard. However, you can also download a wallet from leading exchanges like Coinbase and others.
Make your purchase
Now that you have a wallet and a funded account from your cryptocurrency broker, the next step is to buy axie infinity. This often takes a few minutes depending on the gas fees you are willing to pay. After that, you will also need to move your crypto from the exchange to your wallet.
This means that if there is a risk of hacking, you still get your coins secured. Each exchange has its own step-by-step process on how to do this. But it’s often a simple process that takes a few minutes as well.
Conclusion: Is Buying Axie Infinity a Good Investment?
Investing in crypto is one thing that divides opinions. While some people see it as a great way to make money, others feel that it’s a risky investment with a lot of danger. But one thing everyone can agree on is that ever since its launch, crypto has grown in huge ways.
This is not to say that the Axie infinity tokens will reach the heights of Bitcoin or Ether. But since these are coins backed by a popular video game, there seems to be a lot of value there. Besides, the Axie infinity universe has been growing fast.
When you also consider that there is an NFT component into these coins, then you have to agree they are much better than your average meme coins. Despite these potential benefits, there are a few things to keep in mind.
First, the NFT space is still new and there is so much that could happen in the long term. Secondly, Axie coins, just like many new coins, need some time before they gain enough traction. But so far, this looks like a nice place to invest.
Buying Axie Infinity FAQs
What is Axie Infinity Coin?
The axie infinity coin is the native token issued for the Axie Infinity gaming universe. The token is used for platform administration and is designed for people who see the future performance of this game hitting record levels. The coin can be purchased directly or through a limit order on major exchanges.
What are Retail Investor accounts?
A retail investor account is simply an individual trading account that is normally used by average traders. It’s the exact opposite of an institutional investor account. Retail accounts are mostly small-scale in terms of trade volume and portfolio size.
Is Axie Infinity profitable?
Yes, Axies are very profitable. In fact, ever since these NFTs started to sell on the infinity universe, they have seen a sharp increase in value over the last few months. However, there are still some risks associated with them so take care before investing.
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Author: Wilbert S
Wilbert is an avid researcher and is deeply passionate about finance and health. When he's not working, he writes research and review articles by doing a thorough analysis on the products based on personal experience, user reviews and feedbacks from forums, quora, reddit, trustpilot amongst others.