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How to Buy Axie Infinity (AXS) in 3 Simple Steps

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Author: Hanut Singh Updated: February 11, 2022

Axie Infinity is a game where gamers can breed, buy, sell, and battle digital monsters against one another in order to compete for in-game currency. Unlike most cryptocurrencies, AXS (Axie Infinity Shards) are gaming tokens that can be earned when playing Axie Infinity online.

This page will guide you on how to buy AXS tokens and show you where you can invest in the booming virtual economy of Axie Infinity.

3 Steps to Buy Axie Infinity

1. Choose a broker or exchange

To get things rolling, you’ll want to sign up with one of the reputable brokers or cryptocurrency exchanges recommended for you below. Selecting from this list will not only streamline your onboarding experience into the world of cryptocurrency but also protect you from potentially high transaction fees and other hidden costs.

 

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2. Create and fund your account

For you to create your account with a trusted broker or exchange, you will have to provide some personal details like your name and date of birth. Some platforms may also ask you for ID documentation and proof of address before you can make your first deposit that can be made using a range of payment methods.

3. Buy AXS

Once you have completed the necessary KYC requirements on your preferred broker or exchange, you’re ready to purchase your first Axie tokens with the money deposited in your account. You can do this by selecting a trading pair that best matches the local currency held in your account. For instance, if you are a UK-based user, you will look for the AXS/GBP trading pair in the search bar to make your first purchase.

Buy Axie Infinity in 5 Simple Steps

Create an account on eToro

Sign up with our recommended partner eToro now to get started. Once you’ve signed up, verify your account by uploading some form of photo ID and proof of address.

Buy some ETH

Next, you’ll need to purchase some ETH to swap for AXS. Fund your account with your preferred payment method, then search for ETH. Select the trading pair with your local currency, and click “buy”.

Send your ETH to a Web 3.0 wallet

Next, set up a Web 3.0-compatible wallet like MetaMask or Trust Wallet—you’ll need this to swap your ETH for AXS. Paste your wallet address into the “withdraw” section of eToro, and transfer your ETH.

Connect your wallet to Uniswap

Go to Uniswap and connect your wallet. Your wallet will display a few prompts to confirm the connection, and after that, you will be able to complete your swap.

Swap ETH for AXS

Find the coin’s pair here, enter the amount you want to buy, then complete the swap. Your AXS will immediately display in your wallet.

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Buy Axie Infinity Today!

What Is Axie Infinity?

Axie Infinity is a blockchain-based game that is similar to Pokémon. Players breed, trade, and battle virtual monsters called Axies against each other with the aim of amassing cryptocurrency rewards. 

Axies are tokenised as NFTs: one-of-a-kind special tokens that give digital ownership over their favourite monsters. So, unlike Pokémon, gamers won’t be capturing or breeding any of the same kind of monsters as their opponents. With each Axie having its own individual body parts with its own stats, players will find masses of possible genetic combinations when breeding the virtual pets. The Axie infinity game is built on the Ethereum blockchain and is one of the most popular virtual reality, or “metaverse”, games in the space.

AXS is accepted as currency within the in-game NFT marketplace where gamers can not only buy Axie monsters but also plots of virtual land and other gameplay items like tribal shields. This collection makes Axie Infinity home to one of the most lucrative marketplaces for NFT digital collectables in the crypto industry. You can find more information about the Axie Infinity ecosystem and the Axie Infinity Team within the WhitePaper

Ways to Invest in Axie Infinity

There are many investment strategies that may be leveraged when purchasing Axie Infinity tokens. As an investor, you may wish to hold on to your investment for the long-term or short-term depending on the financial targets you set yourself and how you would like to position your portfolio.

Those looking to get further involved can pick up some AXS tokens to invest while they play Axie Infinity earning while they battle, trade and breed axies. Head on over to the Axie Inifity site to get hold of your first three Axies and start playing the game.

Buy and hold Axie Infinity 

Buying and holding AXS tokens is one of the most common strategies among new and experienced investors alike. There is even a name for this practice within the expanding crypto community: long-term investors are colloquially referred to as those that “HODL” (Hold on For Dear Life).

At the same time, buying and holding Axie tokens also sees investors avail the option of staking their AXS by lending, or “locking”, away their tokens for a specific period of time in order to claim incentivising rewards. 

Best Axie Infinity Wallets

As an investor, you have multiple choices when it comes to storing your AXS tokens. Most brokers and exchanges offer custodian services, in the form of internal wallets, through which your cryptocurrency is automatically stored after being purchased.

That said, some investors will choose to take self-custody of their AXS and employ software wallets or proven hardware wallets like Trezor, BitBox, and Ledger where they can put their AXS into cold storage, the practice of manually storing your crypto on a hard drive. 

In order to stake Axie, investors must transfer AXS from their internal wallets on an exchange to Axie Infinity’s native software wallet, Ronin. 

Trade Axie Infinity 

Rather than holding AXS for the long run, some investors may also look to trade the digital asset by speculating on the volatility of its price. In doing so, traders can make use of derivatives such as options, futures, and contracts for difference (CFDs) to produce profits. 

Nevertheless, even the most experienced traders are susceptible to miscalculating the swinging volatility that often characterises the cryptocurrency market.

Because traders will often only hold AXS for short periods of time, it is often more convenient for them to store their Axie Infinity tokens on web wallets provided by exchange platforms rather than periodically transferring crypto between exchanges and private software or hardware wallets that may incur additional costs.

Meanwhile, if you're looking to trade the fierce creatures of the Axie Infinity ever-expanding universe then you'll need to download and start playing the Axie Infinity game.

Should I Buy Axie Infinity Now?

As an incoming investor, you must decide on whether to invest in AXS depending on your financial position and the intended direction of your portfolio, in addition to doing your own research.  

Axie Infinity is one of the most popular blockchain games on the market, and as such is positioned to benefit from the mainstreaming of the metaverse. If Axie were to become as popular as games like Pokémon Go or Angry Birds, this would likely create demand for the AXS token, as it is instrumental in the game's ecosystem.

However, while Axie Infinity does hold a considerable first-mover advantage when it comes to virtual gaming within the metaverse, the game and its NFT ecosystem are still subject to traditional supply and demand forces.

There is always the chance that Axie Infinity users may shift their attention to dark horse metaverse games in the future. But with the name Axie Infinity has already carved for itself in the space, its industry-leading NFT marketplace, and rising retail investment in AXS, the game is quickly becoming the cornerstone of the metaverse.

Frequently Asked Questions

  1. It is a business model where players earn crypto rewards for playing a virtual game.
  2. The metaverse is a virtual environment where users can interact with one another using digital avatars to facilitate gaming, social, and workplace experiences.
  3. An NFT is a Non-Fungible Token on the blockchain. In other words, it is a unique license of ownership for digital items such as images, music, and video clips.
  4. Staking is the practice of lending tokens of a cryptocurrency to a blockchain in order to secure its network while gaining rewards in returns. Simply put, staking is like giving out a loan that is eventually paid back with substantial interest in crypto.
  5. A cold wallet, otherwise known as a hardware wallet, is a physical device that keeps your cryptocurrency completely offline.

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