How to buy Injective (INJ) in Australia

Learn how to buy Injective (INJ) on 18+ crypto exchanges in our step-by-step guide.

Our picks for the best places to buy Injective

Injective (INJ) is the 63rd largest cryptocurrency by market cap, valued at US$2,283,665,101.

Injective is a highly volatile asset capable of major price swings in a single day. Today INJ is trading for $23.33 USD, which is higher than yesterday's trading price of $20.69 USD. Over the past year, Injective's price has seen a decrease of -37%.

So before you buy Injective, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy Injective.

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

How to buy Injective in 5 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy Injective is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Injective
    You can now exchange your funds for Injective. On beginner-friendly exchanges, this is as simple as entering the AUD or INJ amount you want to purchase and clicking "buy".
  5. Secure your Injective
    Consider transferring your INJ to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.

Where to buy Injective in Australia

Find an exchange to buy, sell and trade INJ by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

1 - 5 of 18
Product GXFCY Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Go to site
CoinSpot
Exclusive
CoinSpot logo
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

1

500

Get $20 in BTC when you make a deposit. T&Cs apply.
Go to site

Capital at risk

View details
eToro Crypto
Best Rated BrandExclusive
eToro logo
Bank transfer, Credit card, Debit card, PayPal, eToro Money

27

107

Get a US$50 bonus when you buy at least US$500 in crypto. T&Cs apply.
Go to site

Capital at risk

View details
OKX
OKX logo
Bank transfer, Credit card, Cryptocurrency, Debit card

1

302

Get $20 in BTC when you trade $20 in the first 14 days after opening an account. T&Cs apply.
Go to site

Capital at risk

View details
Kraken
Finder Award
Kraken logo
Credit card, Cryptocurrency, Debit card, PayPal, PayID

7

295

Go to site

Capital at risk

View details
Swyftx
Finder AwardExclusive
Swyftx logo
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

3

432

Get $20 in BTC when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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How we keep this Injective guide up-to-date

  • INJ price data is regularly updated through data feeds so you always have the latest information.

What is Injective?

Injective Protocol is a decentralised exchange that allows users to trade on any derivative market without paying gas fees (using Layer-2 technology). Using Injective Protocol, individuals can trade on any market they choose, including futures, perpetual swaps and spot trading. Cryptocurrency exchange Binance is Injective Protocol's biggest investor and Injective was the first Binance Labs-incubated project to debut on the Binance Launchpad (public sale) platform.

The INJ token is the native coin for the Injective Protocol trading platform. You can use INJ tokens to propose and vote on aspects of Injective Protocol, such as the futures protocol, exchange parameters and protocol upgrades. You can also stake INJ tokens and use INJ tokens as collateral for accessing Injective's derivatives markets. Injective also partnered with MDEX to allow liquidity mining of INJ tokens.

How do I find the best places to buy Injective?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy Injective?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Injective.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing INJ with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy Injective?

Once you've created an account, you will need to deposit funds to buy INJ with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy INJ:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase INJ by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for INJ on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Injective?

The easiest way to buy INJ is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying INJ, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Injective has been performing recently.

Best Injective wallets to store your INJ

You can keep your INJ on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your INJ below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,000+

Price (USD)

$149

Price (USD)

$77.20

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is Injective a good investment?

Investing in cryptocurrencies can be risky, so it's important you understand the risks involved. Here are some factors to consider before buying INJ tokens:
  • Supply: Initially, the supply of INJ coins was capped at 100 million tokens. According to the Injective Protocol website, the inflation target for INJ tokens is 7% at the beginning and it will taper off to 2% over time. Over time, the total supply of INJ tokens may be less than the initial supply, due to buybacks and burns.
  • Staking: In March 2021, Injective Protocol launched Equinox Staking which allows INJ holders to lock up their INJ tokens in order to earn rewards. The baseline annual percentage yield (APY) for staking INJ tokens is 15% but you can earn up to 29%, according to the Injective Protocol blog.
  • Use cases. Other than staking, other use cases for INJ tokens include protocol governance, exchange fee value capture, derivative collateralisation and liquidity mining.

Today's Injective price versus ATH

Compare today's price of Injective ($23.33 USD) against its all-time-high price of $52.62 USD on 14 March 2024. The closer the bar is to 100%, the closer INJ is to reaching its ATH again.

Injective's price: $23.33 USD
ATH date: March 14, 2024
44.34%

Injective ATH: $52.62 USD


How to trade, convert or sell Injective

You can convert or sell your INJ with the same exchange you bought it through:
  1. Sign in to the exchange you have INJ on.
  2. If you store your Injective in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of INJ you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Injective.
  6. Complete your transaction and move your INJ to a crypto wallet for storage.

How to buy other cryptos

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CardanoCardano symbol
TRONTRON symbol

Disclaimer: Cryptocurrencies, including Injective, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of INJ is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Injective or any other cryptocurrency discussed.

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