AXS

Cryptocurrency Overview

Axie Infinity is a blockchain-based, play-to-earn (P2E) game that exploded in popularity in 2021. It allows players to collect, breed, battle, and trade digital creatures called Axies. Axie Infinity is a groundbreaking P2E game that has revolutionized the gaming industry. It offers a unique blend of gameplay, digital ownership, and earning potential. However, it's important to understand the risks and limitations before getting involved.

Introduction to Axie Infinity exchanges

1. Axie Infinity Marketplace:

Official Platform: The primary marketplace for buying, selling, and trading Axies.

Direct Interaction: Players interact directly with each other, eliminating the need for a centralized exchange.

Axie-Specific: Exclusively focused on Axie-related transactions, including Axies, AXS, and SLP.

2. Decentralized Exchanges (DEXs):

Uniswap, SushiSwap, etc.: Popular DEXs where you can trade AXS and SLP for other cryptocurrencies.

Peer-to-Peer Trading: DEXs allow for direct trading between users without intermediaries.

Liquidity Pools: DEXs rely on liquidity pools to facilitate trades, providing a decentralized market.

3. Centralized Exchanges:

Binance, Coinbase, Kraken, etc.: Major cryptocurrency exchanges that offer trading pairs for AXS and potentially SLP.

Fiat On-Ramps: Centralized exchanges often allow you to deposit fiat currency (USD, EUR, etc.) to buy AXS.

Higher Fees: Centralized exchanges typically charge higher fees compared to DEXs.

Mobile trading app for buying Axie Infinity

1. Binance:

Pros: Wide selection of cryptocurrencies, including AXS, user-friendly interface, advanced charting tools, and low fees.

Cons: May not be available in all regions due to regulatory restrictions.

2. Coinbase:

Pros: Easy-to-use interface, good security features, and support for fiat currency deposits.

Cons: Limited cryptocurrency selection, higher fees compared to Binance, and less advanced charting tools.

3. Kraken:

Pros: Advanced trading features, strong security, and a wide range of cryptocurrencies.

Cons: Steeper learning curve for beginners, more complex interface.

Why it's the best token

While AXS boasts a strong community, governance rights for holders, and potential for growth within the thriving Axie Infinity ecosystem, it's not without its drawbacks. The volatile nature of cryptocurrency markets, competition from emerging P2E games, and concerns about the long-term sustainability of the P2E model all pose risks to AXS's value. Ultimately, whether AXS is the “best” token for you depends on your understanding of these risks and your confidence in the future of Axie Infinity.

Token address

Ethereum Network: 0xAxie0b56a3508126e720c902a837c6998b2c

Token transfer

1. Choose a Wallet:

Cryptocurrency Wallet: You'll need a wallet that supports the Ethereum network, as AXS is an ERC-20 token. Popular options include MetaMask, Trust Wallet, and Ledger.

Exchange Account: If you hold AXS on an exchange like Binance or Coinbase, you can transfer it from your exchange account to an external wallet.

2. Get the Recipient Address:

Verify the Address: Ensure you have the correct recipient address. A single character error can result in the loss of your funds.

Blockchain Explorer: Use a blockchain explorer like Etherscan to verify the address and view its transaction history.

3. Initiate the Transfer:

Wallet Interface: Open your wallet and navigate to the “Send” or “Transfer” option.

Enter Details: Enter the recipient's address, the amount of AXS you want to send, and the network fee (gas fee).

Confirm Transaction: Review the transaction details carefully and confirm the transfer.

4. Monitor the Transaction:

Transaction ID: You'll receive a transaction ID after initiating the transfer.

Blockchain Explorer: Use the transaction ID to track the progress of the transfer on a blockchain explorer.

Axie Infinity wallets

1. Ronin Wallet:

Official Wallet: The official wallet for Axie Infinity, specifically designed for managing Axies, AXS, and SLP.

Game Integration: Seamlessly integrates with the Axie Infinity game, allowing you to access your assets and participate in gameplay.

Limited Functionality: Primarily focused on Axie Infinity-related transactions, with limited support for other cryptocurrencies.

2. MetaMask:

Popular Ethereum Wallet: A widely used and versatile Ethereum wallet that supports AXS and SLP.

Browser Extension: Available as a browser extension for Chrome, Firefox, and other browsers.

Mobile App: Also available as a mobile app for iOS and Android.

Broad Compatibility: Compatible with a wide range of decentralized applications (dApps) and exchanges.

3. Trust Wallet:

Mobile-First Wallet: A popular mobile wallet for iOS and Android, supporting a wide range of cryptocurrencies, including AXS and SLP.

Decentralized: Provides control over your private keys and allows you to access your assets directly.

DApp Browser: Includes a built-in DApp browser for interacting with various blockchain applications.

Earning free Axie Infinity

1. Scholarships:

Common Practice: Many players offer “scholarships” where they lend out their Axies to other players in exchange for a share of the earnings.

Requirements: Scholarships often require specific skills, experience, or a commitment to playing the game regularly.

Finding Scholarships: Look for scholarship opportunities on social media groups, forums, and dedicated websites.

2. Contests and Giveaways:

Community Events: Axie Infinity developers and community members sometimes organize contests and giveaways where players can win Axies or AXS.

Social Media: Follow official Axie Infinity channels and community groups for announcements of contests and giveaways.

3. Early Access Programs:

Limited Availability: Axie Infinity might offer early access programs to new features or content, potentially rewarding participants with Axies or AXS.

Stay Informed: Keep an eye on official announcements and community news for opportunities to participate in early access programs.

4. Play-to-Earn (P2E) Strategies:

Earning SLP: You can earn SLP by playing the game and using it to breed Axies.

Trading SLP: SLP can be traded on the Axie Infinity Marketplace or other exchanges for AXS or other cryptocurrencies.

Long-Term Investment: Earning SLP and slowly accumulating AXS through trading might be a long-term strategy.

Axie Infinity taxation

Tax obligations for trading Axie Infinity on cryptocurrency exchanges depend on your local tax laws. In many jurisdictions, profits from trading cryptocurrencies like Axie Infinity are treated as capital gains and are taxable. It's important to keep detailed records of your transactions, including dates, amounts, and the market value of Axie Infinity at the time of each trade. Losses may also be deductible. Due to the complexity and variations in tax regulations, its advisable to consult with a tax professional familiar with cryptocurrency regulations in your area to ensure compliance.

Axie Infinity security

The security of Axie Infinity cryptocurrency relies on robust blockchain technology, which uses encryption to protect transactions and prevent unauthorized access. Users should enhance security by using reputable wallets, enabling two-factor authentication, and being cautious of phishing attempts. Regular software updates and vigilant monitoring of account activity are also recommended to safeguard investments.

Currency login

Create an Account: You'll need to create an Axie Infinity account, which involves setting up a username and password.

Connect Your Wallet: You'll need to connect a cryptocurrency wallet (like MetaMask or Ronin) to your Axie Infinity account to manage your assets.

Purchase Axies: If you want to play the game, you'll need to purchase Axies using cryptocurrency (like ETH or AXS).

Supported Payment Methods for Purchasing

1. Cryptocurrency:

Primary Method: The primary method for purchasing Axies and AXS is using cryptocurrency.

Supported Cryptocurrencies: Ethereum (ETH) and Axie Infinity Shards (AXS) are the most commonly accepted cryptocurrencies.

Exchanges: You can buy ETH or AXS on cryptocurrency exchanges like Binance, Coinbase, Kraken, etc.

2. Fiat Currency (Indirectly):

Exchange Conversion: You can purchase ETH or AXS using fiat currency (USD, EUR, etc.) on cryptocurrency exchanges.

Third-Party Services: Some third-party services allow you to buy AXS using fiat currency, but these might have higher fees or limitations.

3. Axie Infinity Marketplace:

Direct Trading: The Axie Infinity Marketplace allows players to buy and sell Axies using AXS.

No Fiat Support: The marketplace does not directly support fiat currency purchases.

4. Scholarship Programs:

Alternative Approach: Some players offer scholarships where they lend out their Axies to other players in exchange for a share of the earnings.

No Direct Purchase: Scholarships don't involve direct purchase of Axies but provide access to them.

Online purchase of USD/USDT

To buy Axie Infinity using USA/USDT online, you'll need to access a cryptocurrency exchange that lists both Axie Infinity and USDT pairs. First, ensure your account is funded with USDT. Then, navigate to the Axie Infinity/USDT trading pair on the exchange and place a buy order for the desired amount of Axie Infinity tokens. Confirm the transaction details and execute the trade. Always check for transaction fees and security protocols of the exchange.

Buying cryptocurrency with a bank credit card

To buy Axie Infinity tokens using a bank credit card, start by selecting a cryptocurrency exchange that supports credit card purchases and lists Axie Infinity. Register for an account and complete any required identity verification processes. Once your account is set up, add your credit card as a payment method by entering the card details. Navigate to the purchase section, select Axie Infinity from the available cryptocurrencies, enter the amount you wish to buy, and proceed to checkout. Review the transaction details, including any fees charged by the exchange or your bank for credit card usage, and confirm your purchase. Be aware that some banks may have restrictions on using credit cards for cryptocurrency transactions.

Buying with loans/financing

To borrow funds to buy Axie Infinity cryptocurrency, you can use crypto lending platforms that offer loans in fiat or digital currencies. First, create an account on a platform that supports Axie Infinity and provides lending services. Deposit collateral, usually in another cryptocurrency, then apply for a loan in your desired currency. Once approved, use the funds to purchase Axie Infinity either directly through the platform or transfer them to an exchange where Axie Infinity is listed. Always consider the interest rates and repayment terms.

About support for monthly payments of tokens

1. Recurring Purchases:

Cryptocurrency Exchanges: Some cryptocurrency exchanges offer recurring purchase options for cryptocurrencies, allowing you to automatically buy a set amount of AXS or SLP at regular intervals.

Third-Party Services: There are third-party services that allow you to set up recurring cryptocurrency purchases, but these might have higher fees or limitations.

2. Automated Trading Bots:

Advanced Option: Automated trading bots can be used to buy and sell cryptocurrencies based on pre-defined strategies.

Customization: You can configure bots to buy AXS or SLP at specific price points or intervals.

Technical Expertise: Setting up and managing automated trading bots requires technical knowledge and understanding of cryptocurrency markets.

3. Decentralized Finance (DeFi) Protocols:

Lending and Borrowing: DeFi protocols allow you to lend or borrow cryptocurrencies, potentially earning interest on your AXS or SLP holdings.

Yield Farming: Some DeFi protocols offer yield farming opportunities, allowing you to earn rewards by providing liquidity to trading pools.

Risk: DeFi protocols can be complex and involve risks, so thorough research and understanding are essential.

4. Axie Infinity Scholarships:

Alternative Approach: Scholarships can provide access to Axies and earnings without upfront purchase, but involve sharing earnings with the scholarship provider.