🟠 How to Buy Axie Infinity (AXS) in 2021

The number of people searching for how to buy Axie Infinity Shards (AXS) has increased recently, and rightly so. After existing under the radar for a few years, the Axie Infinity project seems to have finally taken off, garnering millions of users and increasing adoption of the AXS token.

If you’re among the many looking to grab a piece of the pie, then you’d find this guide on how to buy AXS really helpful. We cover exchanges where you can get the token and endeavor to provide a step-by-step guide on how you can make the purchase.

A quick guide on buying Axie Infinity on Binance

  • Register at Binance.com and complete the KYC process.
  • Go to Wallet > Fiat and Spot and find your BTC or USDT address,
  • Deposit funds using the provided address.
  • Once the deposit is successful, go to Trade.
  • Find the AXS/USDT or AXS/BTC pair depending on the coin you deposited.
  • Select the pair and then switch the Order type to Market.
  • Enter the amount of USDT or BTC to sell to AXS.
  • Click Buy AXS to complete the purchase.

How to buy Axie Infinity (AXS)

Binance

binance

Binance is one of the most widely used cryptocurrency exchanges. The platform offers a number of trading pairs for Axie Infinity, including two local currencies, Australian Dollar (AUD) and Turkish Lira (BRL).

How to do it:

  • Go to Wallet > Fiat and Spot and find your local currency
  • Choose to deposit via bank transfer or card if supported.
  • Follow the prompts to complete your fiat deposit.
  • Go to Trade>Convert and use the menu to convert your local currency to BTC.
  • Go to Markets and find the AXS/BTC trading pair.
  • Switch the Order type to Market and enter the amount of BTC to sell for AXS.
  • Select Buy AXS to complete the trade.

Pros 

  • Binance offers a wide range of deposit options.
  • Binance supports a number of trading pairs for AXS.
  • Binance sometimes provides savings products for AXS, allowing users to earn interest for
  • merely holding the token.
  • Beyond spot trades, users can also access AXS futures trading via Binance.

Cons

  • The platform can be slightly difficult to navigate, especially for beginners.
  • Direct fiat deposit isn’t readily accessible in a number of jurisdictions.
  • Binance charges 0.46 AXS per withdrawal, a way higher fee than the Ethereum network
  • requires. There is also a 0.96 AXS minimum withdrawal limit.

Supported Payment Options: Credit or Debit cards, Bank Transfer, Cryptocurrency, P2P trading.

Huobi

huobi

Launched in 2013, Huobi is another popular exchange where you can buy and sell Axie Infinity. The platform offers three trading pairs for the altcoin, namely, AXS/USDT, AXS/BTC, and AXS/ETH.

How to do it:

  • Register at Huobi.com and complete the KYC process.
  • Go to Balance>Exchange account
  • Find the Deposit button on either your BTC, ETH, or USDT address.
  • Click Send Address.
  • Copy the address sent to your email and deposit funds from an external wallet.
  • Once successful, go to Spot Trading > Exchange
  • Use the search bar on the trading portal to find the AXS pair for the coin your deposit and open it.
  • Change the Order type to market and enter the number of coins to exchange to AXS.
  • Click Buy AXS to complete the order.

Pros

  • Huobi offers both spot futures trading for AXS.
  • The platform is relatively easier to navigate.
  • The exchange boasts a responsive customer service desk.

Cons

  • Huobi does not support deposits via bank transfer, except via P2P trades.
  • Huobi charges a high fee of 0.25 AXS for withdrawals and also has a minimum withdrawal
  • limit of 0.27 AXS

Supported Payment Options: Cryptocurrency, Bank cards (Mastercard, Visa), Bank Transfer (P2P trading).

Kraken

kraken

Kraken is a highly reputable cryptocurrency exchange and another excellent option for anyone looking to buy Axie Infinity. At the time of writing, Kraken only offers AXS/USD and AXS/EUR trading pairs.

How to do it:

  • Create an account at Kraken.com and complete the KYC process up to Level 2.
  • Go to Funding and select USD or EUR as the asset to deposit.
  • Follow the prompts to complete a Wire Transfer.
  • Once successful, go to Trade and use the search bar to find the pair for the fiat currency you deposited, for example, USD or EUR.
  • Enter the amount of AXS to buy and switch the order tab to Market. (You can use Limit to set a determined price range to buy AXS).
  • Click Buy AXS with USD to complete the trade.
  • Alternatively, you can use the Buy Crypto tab on Kraken after depositing USD.
  • Enter the amount of USD to spend for AXS.
  • Click Preview Buy to complete the purchase.

Pros

  • Kraken offers an Instant Purchase option for AXS
  • Kraken’s exchange features fiat currency pairs for AXS
  • The platform is user-friendly, especially the “Simple” order interface.

Cons

Kraken has no crypto-to-crypto pair for AXS. This means users must deposit crypto and then first exchange it to USD or EUR before they can buy AXS.
Kraken only allows for deposits via Wire Transfer which may take several days to clear on some occasions.

Supported Payment Options: Wire Transfer and Cryptocurrency.

OKEx

okex

OKEx launched in 2014 and supports Axie Infinity. However, only one trading pair is available, namely, AXS/USDT. If you wish to buy AXS with say BTC, then you must convert deposited BTC into USDT to make your purchase.

How to do it:

  • Register at OKEx.com and complete their KYC process.
  • Go to Assets>Deposit
  • Choose to deposit either USDT or BTC.
  • Copy your address and transfer the funds to your OKEx account.
  • Alternatively, you can use the Buy Crypto tab to buy USDT or BTC using a credit or debit card.
  • Once the deposit is successful, go to Assets>Transfer and move the funds from your
  • Funding Account to the Trading account.
  • Trade>Basic Trading
  • Use the provided search bar to find the AXS/USDT pair.
  • Switch the order type to Market and enter the amount of USDT to exchange to AXS
  • Click Buy AXS to complete the purchase.
  • If you purchased or deposited BTC, then you can use the BTC/USDT pair to convert it to USDT first before proceeding to the AXS/USDT market.

Pros

  • OKEx allows for AXS futures and margin trading.
  • AXS has a savings product that lets users earn interest on AXS deposited on the platform.
  • The platform has a responsive customer service desk

Cons

  • OKEx has no fiat pairs for AXS.
  • The platform also does not support deposits via bank transfer.

Supported Payment Options: Cryptocurrency, Credit or Debit Cards.

KuCoin

kucoin

KuCoin launched in 2017 and is the last option on this list of where to buy AXS. Like OKEx, KuCoin only offers a USDT trading pair for AXS. Hence you must also deposit USDT or convert any other crypto that you deposit to USDT before you can buy AXS.

How to do it:

  • Register at KuCoin.com and complete the KYC process.
  • Go to Assets>Main Account
  • Select USDT as the coin to deposit and copy your address.
  • Transfer funds from an external wallet.
  • Alternatively, use the Buy Crypto tab to get some USDT.
  • Next, go to Main Account and click Transfer on your USDT wallet.
  • Transfer the deposited funds from your main account to your trading account.
  • Go to Markets and use the search bar to find the AXS/USDT pair.
  • Change the Order type to Market 
  • Input the amount of USDT to exchange to AXS.
  • Click buy AXS to make the purchase.

Pros

  • KuCoin allows for AXS spot, futures, and margin trading.
  • Users can deposit fiat via bank transfer using KuCoin’s payment partners.
    KuCoin has a responsive customer service desk. 

Cons

  • KuCoin’s user interface is not ideal for new investors.
  • KuCoin has a 0.6 AXS fee for withdrawals.

Supported Payment Options: Cryptocurrency, Debit and Credit cards, Bank Transfer (SEPA).

Things to consider before buying Axie Infinity

As noted earlier, many investors are looking to buy Axie Infinity Shards (AXS) because of its stellar price performance in recent weeks. However, if you’re looking to invest in the token, then you may also want to consider these factors:

Project Strength: Axie Infinity is a play-to-earn gaming project built on Ronin, an Ethereum sidechain network. The project has over 350,000 users and has seen remarkable growth this year. 

Rather than simply buy AXS because of speculation, you can spend quality time learning about the project and its use case. This would give you the needed conviction to hold the asset even if the price does drop in the future without much fundamental change to the project’s utility.

Historical Price Action: This is especially vital if you’re looking to get a good entry price on your AXS investment. At its current all-time high, AXS traded at £37.67 ($53) with the lowest known price being £0.0941 ($0.12) in early 2020.

As with most assets, it is often advisable to wait for a price drop before investing, especially for one-off purchases. Alternatively, you can make periodic purchases (perhaps weekly or monthly) irrespective of the current market price. This approach, also known as “cost averaging” allows you to get a good entry price and profit from any substantial price increase.

Holding Period: The cryptocurrency market is highly volatile and Axie Infinity is also a fairly new project. This means that the price of AXS may fluctuate wildly and result in losses for short-term investors. Hence, it may be best to decide how long you’re willing to hold the asset to turn profitable.

Where to store AXS

You can store your AXS tokens using any of the following wallets and exchanges:

Web: Ronin Wallet
Hardware Wallet: Ledger (ERC-20 AXS token)
Exchange Wallet: Binance or Kraken

Privacy and security tips

Keeping these tips in mind will help you securely hold your AXS tokens:

  • Double-check addresses before initiating AXS transfers. This is a precaution against malware that may replace the copied address on your keyboard with that of a scammer.
  • Ensure that the last letters after pasting correspond with the copied address.
  • Do not disclose the amount of AXS tokens that you hold in public forums or social media.
  • This makes you a target for hackers.
  • Do not install wallets from unknown sources. The Ronin wallet is currently the recommended app for playing Axie Infinity games and storing AXS for frequent transactions.
  • A hardware wallet such as Trezor is ideal for long-term secure storage.

Conclusion

Axie Infinity Shards (AXS) is a promising crypto project and has entered the limelight in recent times. This article discussed where to buy AXS, provided a step-by-step guide on how to do it on multiple exchanges, and also revealed the pros and cons for each platform. It also offered suggestions on what to consider when choosing to buy AXS, and how users can secure their assets.

Whether you’re buying AXS to play Axie Infinity or as an investment, the recommended platforms provide an ideal experience and offer a range of payment options.