How to buy Axie Infinity on Binance? This guide will explain it in detail in 4 simple steps.
The crypto markets are very famous for their different cycles in terms of price($). For instance, every 4 years there is the halving event(Bitcoin) that pushes the market into a new bullish cycle. Even though, there is a lot of volatility in the markets many new blockchain projects have been in continuous development. One of the projects leading the way in the gaming sector is Axie Infinity (AXS).
In 2021, the outlook for the Axie Infinity game looks very promising with serious growth taking place; At the time of writing the AXS token has made an impressive 300% rise from the June lows and is the largest NFT token project in the world with an estimated $1.6 billion of the total value.
This guide is going to show you how to get your first AXS tokens, via one of the world’s most popular exchanges, Binance.
How To Buy Axie Infinity(AXS) : Quicktake
In general, buying Axie Infinity(AXS) at Binance is a straightforward process, however, first-timers must do some extra necessary steps before they can own the AXS tokens.
In short, below is the buying process for Axie Infinity at Binance:
- Register at Binance for free by email or mobile phone
- Verify your account(KYC)
- Send crypto(BTC, ETH, BNB, or any other) to Binance
- Exchange these tokens for AXS
- Or: Buy Bitcoin with a credit card at Binance
- Exchange BTC for AXS
What is Axie Infinity(AXS)
In a nutshell, Axie Infinity is an adventure-based game that has multiple layers of tactical strategies and it uses blockchain technology to generate scarcity. In particular, the game uses a token called AXS(Axie Infinity Shards) that also can be traded in the ‘real world’ on crypto exchanges like Binance. This is a very unique and innovative concept!
Back to the game, where users are able to learn when playing, similar to Pokemon or even CryptoKitties, revolves around your digital pets aka axies that have a unique set of skills and powers. To begin your journey in the Axie universe, you will have to acquire a team that consists of three axies. At the moment, the floor on each adult axie–meaning a pet that’s ready to go, can go for around 0.1 ETH each ($220) to as high as 0.2 ETH ($450).
What makes Axie Infinity unique?
While Axie Infinity is a fun game, it’s also taken on characteristics of a social network and jobs platform due to the strong community and play to earn opportunities that have come from its early success. In other words, the game is backed by a large community of developers, students, and game fans that all can benefit from its growth.
The key difference between Axie and a traditional game is that Blockchain economic design is used to reward the players for their contributions to the ecosystem. Specifically, this new model of gaming that where players can “play to earn” makes the difference.
Additionally, Axie has attracted thousands of players from developing countries in the pursuit of a new income stream during the Covid pandemic. Many of these players are fathers, aunts, and even grandparents who are experiencing blockchain technology for the first time.
What is AXS token?
Axie Infinity Shard (AXS) is the native token of the Axie Infinity ecosystem. AXS is an ERC-20 governance token, launched in November 2020. In detail, AXS tokens can be purchased, traded, or earned through playing the game.
Other Axie Infinity-associated tokens include game assets (like your Axie characters) in the form of ERC-721 tokens and Small Love Potion (SLP), an ERC-20 token.
Why Buy Axie Infinity(AXS) on Binance?
In this guide, I’m focusing on the Binance trading platform. Why Binance? Based upon the current figures it’s one of the safest and highest volume exchanges on the globe.
At the same time, the Binance exchange has several advantages compared to other digital asset exchanges in the space. Binance has one of the largest liquidity for altcoins in the crypto market and it offers a large number of trading pairs. In the last 24 hours, Binance handled almost $69 billion(!) in trading volume, according to data provided by CoinMarketCap.
Besides, if you are looking for additional options besides trading then Binance is the place to go. For instance, they also offer cryptocurrency staking(pools) via Binance earn, cryptocurrency lending, and margin trading(5x).
Cryptocurrency trading pairs for Axie Infinity on Binance
Binance has some rich options for traders to buy or sell AXS coins in several trading pairs:
Finally, I want to mention that you can get an extra discount(10%) on trading fees if you sign up at Binance by using this link. Moreover, the discount will be deposited back into your wallet for a lifetime 😀
How Do I Buy Axie Infinity On Binance(In 4 Steps)
How to buy AXS coin on Binance? At this stage, I’ll explain in more detail what is needed for every step to acquire some brand new Axie Infinity cryptocurrency.
Of course, it’s totally up to you to decide if you want to trade these AXS tokens, earn additional passive income by staking, or just holding these coins in your wallet.
1. Register For an Account At Binance
The first step will be to register for an account at Binance. If you haven’t already, register for an account. The process can usually be completed very quickly.
It just takes a few simple steps in order for users to be able to start trading digital currencies on the platform. However, if the goal is to have higher limits, the process needs verification and can take some more time to be completed.
It’s important to know that you have two options for sign up: by email or by mobile phone.
2. Verify your Account
Before you can start trading Axie Infinity on Binance you have to confirm your account. Additionally, this can be done in two ways and depends upon the way you did your registration.
The first way would be to confirm your email address by clicking on the link that has been sent to you.
On the other hand, if you used your mobile phone you have to enter a confirmation code that has been sent to you by SMS. Remember that this code remains valid for just 30 minutes!
Verification On Binance
For cryptocurrency traders, there are three levels on the Binance platform: Level 1, Level 2, and Level 3. In the first place, there is Level 1 which allows you to start trading on the platform without any verification or KYC procedure.
Additionally, you are only allowed to trade or withdraw at a maximum of 2 BTC per 24 hours. If you are a professional trader and want to trade in bigger volumes then you have to upgrade(with KYC procedure) to level 2 or even 3. Level 2 allows you to trade and withdraw at a maximum of 100 BTC per 24 hours.
3. Deposit Crypto or Buy Axie Infinity
After you have verified your account(whether by email or mobile) the following screen appears to get started on Binance:
At this point you have three options to acquire some Axie Infinity(AXS):
- deposit fiat
- deposit crypto
- buy crypto with credit card
Also, make sure you have set the 2FA authorization to upgrade your security at Binance.
Deposit fiat at Binance
If you want to deposit money by bank transfer it’s possible to do this with EUR, USD, or GBP. Furthermore, it depends on what country you live in to choose the method for deposit:
- Sepa transfer
- Bank card
Another option that answers the question ‘how to buy Axie Infinity on Binance’ is by just depositing crypto(BTC, ETH, or any other). Moreover, this is the quickest and cheapest way to acquire AXS coins in just minutes.
In other words, if you already have some crypto in a local wallet or at another exchange, just sent it over to Binance and you can start using Binance right away!
Buy Crypto(Bitcoin) with Credit Card
The last option you have in buying Axie Infinity(AXS) at Binance is by using a credit card. Unfortunately, AXS coins can’t be bought directly with a VISA card so I’ll advise you to buy Bitcoin first.
Afterward, when you have the BTC, you can trade AXS coins for BTC(more on this later on).
To buy Bitcoin, choose above in the menu for ‘Buy Crypto’ and then ‘Credit/Debit card’. A new screen appears that allows you to select the fiat currency and what coin to buy.
4. Wait for your Deposits
This step is only required when you chose to deposit crypto to Binance. In addition, deposits and withdrawals are often cleared quite quickly, but depending on the network load it can take a little while. Wait for Binance to give you confirmation that your deposit has been successful.
5. Buy Axie Infinity(AXS) on Binance
The last step explains how to trade or buy Axie Infinity tokens on Binance. Basically, you have two options in doing this: classic, or advanced trading. Moreover, both options are available under the menu item ‘Trade’.
Particularly, the idea is that you are going to trade on the AXS/BTC pair with the BTC you bought in step 3.
Also, if you deposited fiat currency like USD or EUR then you have to buy BTC first. The best way to do this is to use the ‘Convert‘ option which is also available under the menu item ‘Trade‘.
How to trade BTC for AXS on Binance
If you are new to trading cryptocurrency and never have used a trading engine before I’ll advise you to start using the classic option under menu item ‘Trade’.
Moreover, to get AXS coins the quickest way is to perform a market buy order here. How to do this?
- On the navigation bar at the top of the site, hover over “Trade” and click “Basic”.
- Next step is to go to the box on the right side of the page. Select the coin you wish to trade with (BTC, ETH, BNB, or USDT) and search for AXS. Select the pair that comes up (e.g. AXS/BTC).
- Next is to perform a market buy here, at the bottom of the screen where it says ‘Buy AXS‘.
- Now click/choose the ‘Market‘ option which is besides ‘Limit‘
- Next is to enter the amount to buy or just move the slider(below)
- Finally click on ‘Buy AXS‘
Binance Advanced Trading
Ultimately, Binance offers a lot of data, such as price and order history, to help you make trades at the right time. They also give you the ability to set limit orders. This means you set the price you want to buy (or sell) AXS for, and once it hits that price, the exchange will automatically make your trade.
These advanced trading options have been created for those users with more knowledge about markets and how virtual currencies and exchanges work. Although it seems complex, it is very easy to use for those users with some experience in the cryptocurrency market.
You can load this screen on the navigation bar at the top, hover “Trade” and click “Advanced”.
Optional: Withdraw Axie Infinity From Binance
It’s a good idea, when not trading, to move your coins off the exchange and into a secure wallet that you control. This way the security of your funds is in your hands, you are not at the mercy of the exchange’s security measures.
To do this, you will need a wallet that supports Axie Infinity tokens. The Trust mobile wallet is a feature-rich software wallet and is available for iPhone and Android. Alternatives include the Freewallet.org where both wallets can be downloaded for free.
When you have a wallet ready, you can withdraw your tokens from Binance. Go to the menu at the top of the page, select “Funds”, then “Withdrawals”. Choose AXS from the dropdown menu.
In the past, Binance was affected by a hack that resulted in the loss of around 7,000 BTC. Although the exchange was able to give users back the funds lost, it is always better to be in control of the private keys of the digital assets.
How to withdraw from Binance
Put in the address from your Axie Infinity wallet as the AXS ‘Withdrawal Address’. Double-check the address is correct, choose how much you want to withdraw, and hit submit. Binance will confirm when your transaction has been completed.
…That’s it! At this point, you just bought your first AXS tokens on Binance which is one of the most popular trading engines in the world. Happy trading 😁
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