Are you interested in investing in digital assets and want to put your money into reputable play to earn projects? Then look no further than Axie Infinity (AXS).
Today’s guide will bring you up to speed on everything you need to know about the Axie Infinity network, how it works, where you can buy and trade this digital asset, and much more.
But before we jump into all the exciting stuff, let’s start with what Axie Infinity is and why it is generating a lot of buzz.
What is Axie Infinity
Axie Infinity is a leading crypto project and gaming network that has completely revolutionized the play-to-earn gaming ecosystem. Thanks to this crypto project, which was inspired by popular games like Pokemon, players have the opportunity to earn AXS and SLP, the native token of the Axie Infinity ecosystem, by simply playing different games hosted within the Axie Infinity universe.
While playing games is one of the surest ways to earn AXS and SLP, users can also earn these tokens through user-generated content.
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Axie Infinity is special because it offers users several ways to earn. For instance, its online gaming assets called Axies are highly sought after by players. They could either be collected, traded, bred, deployed to battle, or mated to earn more rewards.
Axie Infinity boasts of having over 2,000,000,000 daily active players. This has made them the most popular crypto gaming network. On top of its unique ecosystem, Axie Infinity is also lauded for introducing the concepts of cryptocurrency to millions of users in a fun and educational manner.
For starters, Axie Infinity typically requires gamers to own at least three pet creatures called Axies. And yes, these pets are non-fungible tokens (NFTs) and have body parts representing different skills characterized by cards. To advance within the Axie Infinity network, players are required to deploy their cards for attack and defense. This action also makes their Axies stronger.
If you have always wanted to invest in Axie Infinity, you’ll be happy to learn that eToro provides you with the right opportunity. Read on as we will delve into that further.
A brief history of Axie Infinity
As we mentioned right from the get-go, the Axie Infinity ecosystem allows gamers to breed, raise and deploy battle fantasy creatures called Axies. This play-to-earn game was created by an experienced team of developers led by the co-founder of Sky Mavis, another leading blockchain gaming studio.
When Axie Infinity launched in 2019, it was first unveiled as a decentralized application (dApp) on the Ethereum blockchain. However, the game has evolved significantly since then.
Through playing Axie Infinity, gamers had the unique opportunity to earn Axie through breeding, claiming from various in-game events, or buying from other players who are willing to trade their Axies. Also, players on the Axie Infinity network can earn in-game currency called SLP by simply engaging in various activities such as battling, breeding, and farming. Being an in-game currency, Axie Infinity players can also use SLP to purchase Axies and in-game items.
Since launching in 2019, Axie Infinity has appealed to many gamers, with its popularity blowing through the roof. The game has also been lauded for its insane graphics, engaging gameplay as well as its ability to combine blockchain technology with gaming.
In 2020, the Axie Infinity team introduced the concept of Land, a kind of virtual land ownership where players can build, farm, and generate more SLP tokens they can use for their gaming sessions.
Without mincing words, Axie infinity is a leader in the play-to-earn ecosystem, and it’s no surprise they are considered the most successful blockchain-based games in the crypto space. While the Axie Infinity team works behind the scenes to improve its gaming ecosystem, we expect Axie Infinity to attract more users in the months and years to come.
How does Axie Infinity work?
Before you can start exploring this NFT-based game, you’ll need to create three Axies. Pet Axies, equipped with different fighting skills, can cost players anywhere between 0.1 ETH and 0.2 ETH. And since Axies form Axie Infinity’s foundation, you’ll need them while playing this P2E game.
With Axies double as the game’s currency, players have the opportunity to breed, train or strengthen these gaming creatures. The goal of all this is to upgrade the skills of these creatures or cash in on them later by trading them for other cryptocurrencies or actual money.
Considering how lucrative the game is and the several opportunities to earn rewards, it’s no surprise that the game attracts over two million daily active players.
How to Start Playing Axie Infinity?
To play Axie Infinity, you must first download the game from its official website. As a player intending to participate in the Axie Infinity ecosystem, you’ll need to create your own Ronin wallet or any other digital wallet, such as MetaMask. After setting up your Roning wallet, you’ll need to send some ETH to your wallet using the Ronin bridge. The reason for doing this is that you want your ETH to become a Wrapped ETH (WETH).
With that done, you can now use your WETH to purchase Axies from your wallet and start playing the game.
AXS Circulating Supply
The Axie Infinity (AXS) Network has a max supply of 270,000,000 tokens. As of right now, there are around 69,800,000 AXS tokens in circulation. And as we mentioned earlier, you can buy some of these tokens from eToro.
How has the Axie Infinity token performed?
Since launching in 2019, Axie Infinity native token AXS has experienced significant fluctuations in price. Like every other digital asset, the price of AXS tokens was highly speculative and subject to volatility.
In the days following its release, AXS tokens saw very little movement. But as the game gained momentum and the community grew, AXS token value rose sharply, reaching an all-time high of $157 in November of 2021.
Unfortunately, the bearish market and the massive crypto sell-off have seen AXS tokens lose significant ground. Since 2022, AXS has been suppressed by the continued sell-off in the crypto market. This has seen it lose nearly 98% of gains made during the last bullish market.
As of the time of putting together this post, AXS tokens were trading for $13.43 across different exchanges where it is listed.
Is it a good time to buy AXS?
Even though the hype around play-to-earn games has waned a little, Axie Infinity has set a precedent that many blockchain-based games can only dream of. Sure, the sell-off in the crypto market has significantly affected the price of AXS tokens. But there is no denying that this blockchain game is a disruptor and a game changer in the play to earn space.
For those who missed adding AXS to their crypto portfolio a few years ago because it was too expensive, now is an amazing time to get this cryptocurrency without digging a fat hole in your pocket.
While the crypto market is beginning to gain some momentum for the upside after a prolonged period characterized by massive sell-off, there is no better time than now to buy some AXS tokens.
More so, experts predict that this cryptocurrency will outperform many other P2E games.
Tips for buying Axie Infinity tokens (AXS) online
If you have made up your mind to buy Axie Infinity tokens (AXS) online, here are some exciting tips that should get you started.
- Choose a reputable exchange: Before investing your hard-earned money in AXS tokens, we highly recommend choosing a reputable exchange. Some of the popular options out there include eToro, Binance, Uniswap, Coinbase, and more.
- Get a supported wallet: If you intend to invest some money in AXS tokens, it’s important you have a supported wallet that can store your tokens. And since AXS is an ERC-20 token, we recommend using wallet providers like MetaMask and MyEtherWallet.
- Do your own research: Sure, investing in cryptocurrency comes with several perks, including financial rewards, but before investing your hard-earned money into any crypto project, you want to do your due diligence and research about the project. You want to pay keen attention to the team behind its use case, its fundamentals, and potential use cases of the token.
- Prepare for some volatility: If you have been in the crypto space for some time, you will agree that the crypto market can be insanely volatile. To this end, you must prepare for price fluctuations. More so, it’s always best to invest money you can afford to lose.
- Protect your private keys: Your private keys provide an extra layer of security to your wallet. So to ensure your investment is safe, never share your private keys with anyone. Also, you want to ensure you have it backed up just in case you lose access to your wallet.
- Keep an eye on the market: To make an informed decision about any investment in the crypto space, you’ll need to stay updated about the market and keep up with the latest news about the projects you are interested in.
- Be aware of the fees: Be aware of the fees associated with buying and trading AXIE, such as trading fees, withdrawal fees, and network fees.
- Diversify your portfolio: Diversifying your portfolio by investing in different crypto assets can help minimize risk.
It’s worth mentioning that buying and holding crypto assets is a high-risk investment, and it’s important to do your own research and invest only what you can afford to lose.
How to buy Axie Infinity tokens (AXS) on eToro
To buy AXS on eToro, you will need to create an account, complete the necessary verification steps, and deposit funds into your account. Here is a general overview of the process:
- Create an account: Go to the eToro website and create an account by providing your personal information and completing the verification process.
- Deposit funds: Once your account is verified, you can deposit funds into your account using a variety of methods, such as credit card, bank transfer, or PayPal.
- Search for AXS: Use the search bar on eToro to find the AXS token.
- Place an order: Once you have found the AXS token, you can place a buy order. You will need to specify the amount of AXS you wish to purchase, and the order will be executed at the next available market price.
- Monitor your position: After your order is executed, you can monitor your position in the “Portfolio” section of your eToro account.
That wasn’t too difficult, was it?
Conclusion
If you’re looking to diversify your crypto portfolio with quality projects, you’ll be hard-picked to find any play-to-earn game that outperforms Axie Infinity. While most digital assets are regaining some lost ground following a massive sell-off that held the crypto market sway for the entire 2022, Axie Infinity has performed pretty well in the last couple of days.
In the last 24 hours, Axie Infinity increased by nearly 22%, indicating that the worst days are over.
Want to invest some money into this project? Head straight to eToro and create an account. eToro is lauded for its low fees and exceptional services, so you’ll have the best experience trading AXS on this platform.
Frequently asked questions
What is the best exchange to buy AXS on?
Some of the most popular exchanges that support AXS trading include eToro, Binance Sushiswap, and 1inch. However, it’s always a good idea to research the various exchanges and choose one that meets your needs in terms of security, fees, and user-friendliness.
Can I buy AXS with a credit card?
Some exchanges allow users to buy AXIE using a credit card, but this option may not be available on all exchanges. Additionally, buying with a credit card usually incurs higher fees than buying with a bank transfer or other payment methods.
What is the current price of AXS?
The current price of AXS can vary depending on the exchange you’re using and the current market conditions. You can check the latest prices on reputable cryptocurrency data websites such as Coinmarketcap or CoinGecko.
How do I store my AXS once I’ve bought them?
Once you’ve bought AXIE, you need to store them in a digital wallet that supports Ethereum (ETH) and ERC-20 tokens. MyEtherWallet and MetaMask are some of the most popular options for storing Ethereum and ERC-20 tokens.
Is buying AXS a good investment?
Investing in any cryptocurrency, including AXS, is a high-risk investment. The price of AXS can be highly volatile and is subject to market fluctuations. It’s important to do your own research and invest only what you can afford to lose.
How do I monitor the performance of my AXSinvestment?
You can monitor the performance of your AXS investment by checking the price on cryptocurrency data websites such as Coinmarketcap or CoinGecko. Additionally, you can check the latest news and updates about the project on the official website and social media channels.
It’s important to keep in mind that buying and holding crypto assets is a high-risk investment, and it’s important to do your own research and invest only what you can afford to lose.
