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In addition, it will explore the bullish potential of Cardano and InQubeta, explaining what makes them the best coins to invest in. Due to regulatory requirements, CoinEx service is not available for users in the United Kingdom. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Compare today’s price of Axie Infinity ($7.8 USD) against its all-time-high price of $164.9 USD on 06 November 2021.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it’s a good idea to have those ready. Find an exchange to buy, sell and trade AXS by comparing deposit methods, supported fiat currencies and fees. It is among the week’s top gainers, soaring by 35%—an impressive feat. This upside couldn’t have come at a better time, restoring investor confidence.
Another drawback of decentralized exchanges is that it has failed to achieve liquidity levels comparable to centralized exchanges. The popularity of online games based on non-fungible tokens has been steadily increasing since 2017, and their rapid climb is just beginning. Like other games of a similar forex trading vs stock trading nature, such as CryptoKitties, which ignited the NFT gaming frenzy, Axie Infinity allows players to acquire, breed, fight, and trade fictional creatures known as Axies. Each Axie is a unique NFT that can be bred to obtain more Axies or traded through a P2P Axie marketplace within the game.
Axie Infinity is among the leading play-to-earn (P2E) blockchain-based games. Its native ecosystem token, Axie Infinity Shards (AXS), is also one of the largest crypto assets by market cap. This guide details some of the uses of AXS, how to buy it, and why a casual investor may consider investing in the token. Gemini is one of the most prominent cryptocurrency exchanges, supporting hundreds of cryptocurrencies.
Below, we will provide you with a more detailed step-by-step guide to investing in Axie Infinity. We will also teach you how to sell what has become one of the most volatile crypto assets. While the SLP token is used to reward players who win different battles, AXS is used to reward the best players from all the gaming seasons. Players should have a trusted crypto wallet like Trust Wallet to securely store, manage, and swap SLP and AXS tokens.
These are evidenced by its highly intuitive trading interface – both the web and mobile trading app. Secondly, you need to breed and upgrade your Axies to improve their stats and make them stronger to increase your chances of winning the battles you participate in. Be strategic about how you breed the Axies so you can get the abilities and traits that match your battle strategy. Firstly, you need to participate in battles and win to advance in the game. Below you’ll see the steps to create a new wallet, but you could just as easily import an existing Web3 wallet to Trust Wallet, if that’s your preference.
While you can buy and trade AXS on an exchange like CEX.IO, stopping there would leave so much to be discovered. Similar to CrytpoKitties, each Axie is a unique NFT with special properties that can be combined and bred to produce new Axies within the game. In addition to AXS, players can earn a second native token called Smooth Love Potions, or SLPs, which allow players to breed their Axies.
Decide whether you wish to close the entire position or part of the trade and hit the “Close Trade” button to execute. The trader registration process on eToro is only complete after you have verified your identity. This involves sending a copy of your government-issued identification document to eToro. Coinbase also enjoys a solid reputation for user-friendliness and security.
AXS or Axie Infinity Shards is an ERC-20 governance token and the native currency of the Axie universe. AXS holders can claim rewards if they play the game, stake their coins, and participate in key governance votes. Although the AXS token doesn’t currently generate any revenue, holders are granted governance rights to vote on the gaming platform’s future. The AXS tokens are a deliberate move by Sky Mavis to decentralize the governance and ownership of Axie Infinity so that it aligns interests between the developers and the community of players. A centralized crypto exchange or CEX, such as Coinbase, eToro, Binance, etc., functions as a middleman between buyers and sellers and charges specific fees for using their services.