Axie Infinity is an engaging blockchain-based game where players can earn money through gameplay. To participate in this virtual ecosystem, acquiring the game’s native currency, Axie Infinity (AXS), is essential. This guide will break down the process of buying AXS into four simple steps.
Step 1: Decide where to buy Axie Infinity
Axie Infinity is available on numerous cryptocurrency exchanges. Here are some of the top options to consider:
- KuCoin, Binance, CoinEx, Kraken, OKX, Bybit, gate.io, and MEXC: These are just a few reputable platforms. Be sure to choose an exchange that serves your country and fits your trading needs. Factors to consider include whether you prefer simple buying and holding or more advanced features like margin trading and futures.
Additional Considerations
- Fees: Exchanges have varying fee structures. Compare them to find the most cost-effective option for your trading style.
- KYC Requirements: Some exchanges, like CoinEx, offer less stringent Know-Your-Customer (KYC) processes for enhanced privacy.
- Security: Prioritize exchanges like Kraken, known for their robust security measures. This is especially important if you plan to hold large amounts of cryptocurrency.
Popular Choices for Different Needs:
- Binance: The world’s largest exchange, known for liquidity and a wide range of features (margin trading, futures, etc.). Note that it’s not available to US customers.
- MEXC: User-friendly with 0% maker fees on both spot and futures markets.
Step 2: Set your investment budget
Buying Axie Infinity, or any cryptocurrency, requires more than just enthusiasm. A well-thought-out strategy will protect your investment and improve your chances of success. Here’s what to consider:
How Much Should You Invest?
The golden rule of investing applies especially to the often-volatile world of crypto: never invest more than you can comfortably afford to lose.
Understanding AXS Price and Potential
Let’s look at how your investment translates into AXS tokens at the current price of $7.04:
- Investment: $10,000 => AXS: 1,420.01
- Investment: $5,000 => AXS: 710.01
- … and so on …
Current AXS Price: $7.04 (-6.21% in the last 24 hours) Trading Volume (24h): $78.68M
Price History:
- Monthly Change: -36.48%
- Quarterly Change: -5.92%
- Yearly Change: -11.20%
How Far From Its Peak? AXS is currently trading 96% below its all-time high of $163.89.
Why Portfolio Diversification Matters
The classic advice, “Don’t put all your eggs in one basket,” is especially important in crypto. Spreading your investments across different projects reduces the impact of any single coin failing.
Investment Strategies: Which One is Right for You?
- Beginners: Dollar-cost averaging (DCA) is a simple, stress-reducing strategy where you invest regularly over time. Platforms like Binance make this easy to automate.
- Experienced Investors: If you’re more experienced, you might explore timing the market or technical analysis for more precise trades.
Step 3: Research your Axie Infinity investment
Investing in any cryptocurrency, including Axie Infinity, requires more than a hunch. Here’s what to look for:
Project Fundamentals
- Whitepaper: Most reputable projects offer a whitepaper explaining their goals, real-world problem they aim to solve, and how they plan to achieve it.
- Team: Investigate the team’s background. Are they experienced, and do they have a good track record?
- Community: Check forums and social media. Are there active discussions? Any red flags regarding security or other concerns?
Technical Analysis
Technicals offer insights into potential price movements:
- Moving Averages: AXS is trading above the 200-day and 50-day Simple Moving Averages (SMAs) – these are considered bullish signals.
- Sentiment: The Fear & Greed Index is currently at 67 (Greed), suggesting positive market sentiment.
- Technical Indicators: Overall, indicators lean bullish, though it’s important to remember they are not guarantees.
Axie Infinity (AXS) Predictions
Based on the outlined technicals:
- 5-Day Prediction: AXS price could potentially increase by 29.70% to reach $9.13 on May 4th, 2024.
- Monthly Prediction: AXS could grow by 224.31% to reach $22.82 on May 29th, 2024.
Important Note: Predictions are based on current conditions and can change quickly. Do your own research and never invest more than you can afford to lose.
Step 4: Place Axie Infinity buy order
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How to Buy Axie Infinity (AXS): A Step-by-Step Guide
The process of buying Axie Infinity is similar across most popular exchanges. Here’s how to get started:
Step 1: Choose Your Exchange
- Consider exchanges like KuCoin, Binance, CoinEx, Kraken, OKX, Bybit, gate.io, and MEXC. Each offers unique features, fees, and deposit options. (Need help picking? Refer to the section above for exchange descriptions)
- You’ll need to create a free account with your name, email, and possibly complete KYC verification for full features.
Step 2: Fund Your Account
Here are your options:
- Deposit Crypto: If you already own crypto, transfer it from your wallet to your exchange account. Be meticulous about choosing the correct network and address to avoid losing your funds.
- Bank Deposit: Fund your account directly in currencies like USD, EUR, or GBP (availability varies by exchange).
- Credit/Debit Card: The easiest method, but not all exchanges support it.
Important Note: If your exchange doesn’t support direct AXS purchases with a credit card, you can buy Bitcoin (BTC) on Binance or Kraken, then transfer it to your chosen exchange for trading.
Step 3: Find the AXS Trading Pair
- Navigate to the exchange’s trading page.
- Search for “AXS” and select the right pair based on how you funded your account (e.g., AXS/USDT if you deposited Tether, or AXS/BTC if you transferred Bitcoin).
Step 4: Place Your AXS Order
Choose between two order types:
- Market Order: For immediate purchase at the current market price. Best for high-volume coins like AXS where price changes are minimal.
- Limit Order: Sets a specific buy price. Your order fills only when AXS reaches that price, providing more control but with the risk of missing out if the price doesn’t hit your limit.
Step 5 : Where to store Axie Infinity
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Beyond the Exchange: Securely Storing Your Crypto (Including Axie Infinity)
While exchanges let you buy, sell, and sometimes even earn interest on your crypto, they aren’t the ideal long-term storage solution. Recent events like the FTX collapse highlight the risk of leaving your assets on an exchange – if the platform fails, your funds could be lost.
Cryptocurrency Wallets: Your Secure Storage Options
For maximum security, consider these wallet types:
- Software Wallets (Hot Wallets): Connected to the internet, making them more convenient for transactions but slightly less secure.
- Hardware Wallets (Cold Wallets): These offline devices offer superior security for storing your cryptocurrency keys. Ledger is a trusted choice for secure storage.
The Importance of Your Seed Phrase
Every hardware wallet comes with a seed phrase. This is your master key – it grants total control over your crypto. For maximum protection:
- Never store your seed phrase digitally.
- Use a durable metal storage solution to safeguard it from damage or loss.
Step 6: Keep track of your Axie Infinity investment performance
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Maximize Your Axie Infinity Investment with Metaverseplanet.net
Metaverseplanet.net offers a powerful set of tools to help you monitor and manage your Axie Infinity holdings:
- Comprehensive Crypto Portfolio: Track Axie Infinity alongside 20,000+ other cryptocurrencies in one centralized portfolio. Easily add, edit, and monitor your investments across desktop, iOS, and Android.
- Customizable Crypto Alerts: Never miss a critical price move! Set alerts for Axie Infinity (or any other asset) and receive automatic notifications by email or directly in the app when your target prices are reached.
- Insightful Profit Calculator: Go beyond wishful thinking with our profit calculator. See how your investment might grow, experiment with different DCA strategies, and analyze historical data to make informed predictions about potential returns.
MORE DETAIL >>> Axie Infinity.
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