Following the exponential growth of non-fungible tokens (NFTs), the gaming industry has taken great interest in blockchain technology. One of the initiatives that resulted from this was Axie Infinity – the ideal combination of blockchain, gaming, and NFTs.
There are many options for investors who want to buy Axie Infinity and partake in this exciting play-to-earn gaming platform. This beginner’s guide explores how to buy Axie Infinity in minutes, and why this vibrant and ever-growing ecosystem is such a big deal.
Where to Buy Axie Infinity AXS
This section is our top picks of where and how to buy the Axie Infinity Shards Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
Binance: Largest Crypto Exchange with Low Fees
Coinbase: Highly Regarded and Easy to Use for Beginners
Gate: Solid Platform With Lots of Coins
Visit The Top Pick
Best Platforms to Buy Axie Infinity
This section considers the best places to buy Axie Infinity’s native token (AXS) in minutes. Our review is based on hundreds of hours of platform research. We considered the platform’s fees, setup, supported payment options and security architecture in our study. Here’s our detailed review of the best cryptocurrency exchanges to buy Axie Infinity
Binance: Reputable Exchange with High Liquidity
Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.
The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.
Read: Our Full Binance Review Here
Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.
Binance Website
Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.
All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.
In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.
Pros
Trading fees at 0.01%
High liquidity
Wide range of payment methods
600+ crypto assets in library
Cons
Interface is suited for advanced traders
US-based customers cannot trade most coins via its subsidiary
Coinbase: Simple & Easy to Use Exchange
Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.
Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.
Read: Our Full Coinbase Review Here
The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.
Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.
Coinbase Website
Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.
For fees, Coinbase charges a competitive fee of 0.5% – 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.
Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.
Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.
Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).
Pros
Beginner-focused
Licensed and reputable platform
Insurance in case of hacks
Low minimum deposit
Cons
High fee compared to competitors
No credit card deposits for US customers
Gate.io: Solid Platform With Lots of Coins
Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.
The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.
The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.
Read: Our Full Gate.io Review Here
Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.
Gate Website
Pros
A wide range of currencies
A low fee structure
Simple registration process
Functional platform with a mobile app available
Cons
Unregulated
The team is not very transparent
No fiat currency transfers
What Is Axie Infinity?
Axies are non-fungible tokens (NFTs) and come with different traits and capabilities. Across the Axie Infinity ecosystem, there are over 500 different body forms Axies can take, including aquatic, beast, bird, bug, ant, and reptiles.
The body forms are further grouped into four rarity classes: common, rare, ultra rare, and legendary. The more rare an Axie’s form is, the more value they command. Meanwhile, the value for each Axie is determined subjectively because NFTs are virtual assets with no real-world value.
To develop or upgrade their digital pets, players can buy, breed, or battle in a 3 versus 3 battle with computer-controlled teams or other players across the internet. The winning side gets experience points (XPs) which can be used to upgrade the body parts of their digital pets.
What Is Axie Infinity?
Axie Infinity has become a global sensation largely due to the boom in cryptographically unique tokens in the past year. The digital collectible landscape became prominent in step with the broader crypto market.
Players in the Axie Infinity open-world gameplay can retain partial ownership of their Axies and trade them in the Axie Marketplace for fiat.
Getting started on Axie Infinity requires a substantial amount of investment. The game requires minimum ownership of three Axies, which can cost between $600 to $1000 in current value. Due to the high cost of playing the game, the Axie Infinity team launched game guilds to help owners of Axies rent their digital pets in return for a profit cut.
Axie Infinity has become the face of the new generation of gaming. Its players are rewarded for spending time on the platform, that is ‘play-to-earn’. The blockchain game hit a remarkable high of 2.5 million monthly users, with NFT sales of over $10 billion in late 2021.
Battle your Axies: Each Axie has unique strengths and weaknesses based on its genes.
Axie Infinity is powered by the AXS token, which is used for staking, governance, and speculation. The staking feature will allow users to earn more AXS tokens in return for securing the Ronin sidechain, which works with the larger Ethereum network. The governance function enables AXS holders to vote on the network’s proposals and updates.
A secondary token on Axie Infinity is the smooth love portion (SLP), which can be exchanged for fiat.
Axie Infinity Wallets
Crypto assets need to be properly stored to prevent theft. Blockchain-facing companies have developed specialised virtual and physical devices to ensure that virtual funds are inaccessible to malicious parties.
Software Wallet
Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.
Hot wallet
A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.
Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.
Hardware Wallet
A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.
Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.
Hardware wallet
With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.
Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:
Ledger Nano S Review
Ledger Nano X Review
Trezor vs. Ledger Review
Mobile wallet
A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users’ private keys while enabling them to pay for things they love with their digital assets.
Mobile wallet
These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.
Desktop wallet
A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.
Paper Wallet
The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users’ public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.
How to Buy Axie Infinity
Axie Infinity has proven to be a record success. Wondering how to buy AXS? Our top platform to buy Axie Infinity is social trading leader eToro.
The crypto exchange offers deep liquidity, competitive fees, and copy trading functionality. To get started in as little as 10 minutes, follow these detailed steps:
This broker offers low fees, high liquidity, a wide range of crypto offerings, top-notch security, and in-built wallet functionality. To get started seamlessly, follow these detailed steps:
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
1. Sign Up
Visit eToro and click on the ‘Start Investing’ visible in the middle of the home page. This will redirect the investor to a registration page where they must enter a username, email address, and a strong password.
Signup for eToro
They can skip this process and sign up by connecting to a Google or Facebook account.
2. Verify ID
As a regulated broker, eToro requires that investors complete a know-your-customer (KYC) process on eToro. This process enables them to unlock this broker’s full trading features and functionalities. To get started, click on the newly created profile icon and proceed to select the ‘Verification’ icon. Once done, upload a valid ID card. This could be in the form of a driver’s license or any government-issued identity card.
Verify your ID
Investors will also be asked to submit a recent utility bill or bank statement to validate their addresses.
3. Deposit Funds
Once the verification process is complete, investors can proceed to initiate a deposit on their newly created eToro account. Click on the action tab, select ‘Deposit Funds’, choose a payment channel, and input the investment amount.
Deposit Funds
Investors in the UK and US can invest with a minimum deposit of $10 with cards and a minimum deposit of $500 for bank transfers. Once done, tap on the ‘Deposit’ icon to place an order.
4. Buy Axie Infinity
The final step is to buy the AXS token. Type ‘AXS’ into the search bar and click on the relevant popup result.
Buy AXS on Etoro
Tap on ‘Trade’ to open up the order page and insert how much AXS coins are to be purchased. Then, click on ‘Open Trade’ to complete the purchase.
Conclusion
The Axie Infinity gaming platform has huge potential. Users have an opportunity to generate income while having fun in a fantasy world. Axie Infinity continues to provide great investment offerings to all players. Want to get started? we recommend eToro.
eToro is the best place for investors wondering how to buy Axie Infinity. The social trading platform has low fees, a beginner-friendly interface, and deep liquidity on Axie Infinity trades.
The post Where to Buy Axie Infinity (AXS) Crypto: Complete Guide appeared first on Blockonomi.