Axie Infinity (AXS) is the 122nd largest cryptocurrency by market cap, valued at US$948,557,730.
Axie Infinity is a highly volatile asset capable of major price swings in a single day. Today AXS is trading for $6.04 USD, which is higher than yesterday's trading price of $5.96 USD. Over the past year, Axie Infinity's price has seen a decrease of -19%.
So before you buy Axie Infinity, 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 Axie Infinity.
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 Axie Infinity 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.
Compare crypto exchanges
The easiest way to buy Axie Infinity 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.
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.
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.
Buy Axie Infinity
You can now exchange your funds for Axie Infinity. On beginner-friendly exchanges, this is as simple as entering the AUD or AXS amount you want to purchase and clicking "buy".
Secure your Axie Infinity
Consider transferring your AXS 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 Axie Infinity in
Australia
Find an exchange to buy, sell and trade AXS by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Axie Infinity guide up-to-date
AXS price data is regularly updated through data feeds so you always have the latest information.
What is Axie Infinity?
AXS, an ERC-20 token, is the native cryptocurrency of Axie Infinity. Axie Infinity is a platform that hosts Axie NFTs, built on the Ethereum blockchain, and combines the popularly known Pokemon and Cryptokitties. It was launched in 2018 by Vietnam-based startup Sky Mavis. The AXS token can be traded, purchased or earned by playing the game. To play the game, you need three Axies to form a team, which might become a barrier for some users in the first place due to the price. These Axies are game characters that you own and control. The cheapest Axie is worth 0.03 ETH. However, winning a game would require good team synergy involving elements such as Axies stats and cards.
Players win by competing in PVP battles to win leaderboard prizes which go up to $30,000, or breeding Axies and then selling them on the marketplace, or battling against other Axies to win Small Love Potion tokens (SLP). Players can also collect and speculate rare Axies. The principle behind the game is play to earn, which is the most interesting aspect of the game. Users will soon be able to stake their AXS tokens on the protocol (Q3 2021) to receive regular rewards as a form of passive income.
How do I find the best places to buy Axie Infinity?
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 Axie Infinity?
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 Axie Infinity.
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 AXS 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 Axie Infinity?
Once you've created an account, you will need to deposit funds to buy AXS 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 AXS:
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 AXS by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for AXS on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Axie Infinity?
The easiest way to buy AXS 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 AXS, 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 Axie Infinity has been performing recently.
Best Axie Infinity wallets to store your AXS
You can keep your AXS 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 AXS below.
January 2022: Axie Infinity recently acknowledged that 'win-trading' has occurred on their platform. Win-trading is the act of throwing games (losing on purpose) in order to propel the winner to a higher position on leaderboars. This type of cheating occurs between players of a similar matchmaking rating (MMR). Axie Infinity has announced they will take action, including a forfeiture of season rewards, against players caught engaging in win-trading. Forfeited rewards will be place back into the play-to-earn fund and redistributed amongst players in future seasons.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Axie Infinity a good investment?
Below are the aspects you should consider before buying AXS:
Gamified DeFi: Axies Infinity guarantees an income as SLP tokens can be easily converted to ETH via UniSwap. Players can cash out their points if they do not wish to breed any further. The use of UniSwap, which allows faster and efficient transactions on the Ethereum blockchain, makes this a unique combination of DeFi and a blockchain-based collectible platform.
Governance: You can use AXS, the native token of the platform, to stake and vote. Users can earn the tokens by contributing to the network and participating in the game. It rewards players based on their skill, involvement and effort, making it a fair distribution system.
Storing tokens: AXS tokens can be stored in any ERC-20 compatible wallet such as Trustwallet or any hardware wallet such as Trezor One.
Gas Fees: As noted above, Axie uses the Ethereum blockchain, which attracts high gas prices coupled with high Axie prices, which makes entering the ecosystem a costly affair for new entrants. Moreover, breeding also requires gas, which adds to the cost. Axie Infinity has exclusively developed the Ronin Ethereum sidechain to mitigate this issue of high gas fees.
Today's Axie Infinity price versus ATH
Compare today's price of Axie Infinity ($6.04 USD) against its all-time-high price of $164.9 USD on 06 November 2021. The closer the bar is to 100%, the closer AXS is to reaching its ATH again.
Axie Infinity's price: $6.04 USD ATH date: November 06, 2021
3.66%
Axie Infinity ATH: $164.9 USD
How to trade, convert or sell Axie Infinity
You can convert or sell your AXS with the same exchange you bought it through:
Sign in to the exchange you have AXS on.
If you store your Axie Infinity in a digital wallet, compare crypto exchanges to convert or sell it on.
Choose Sell or Convert and place a sell order.
Choose the amount of AXS you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Axie Infinity.
Complete your transaction and move your AXS to a crypto wallet for storage.
Disclaimer: Cryptocurrencies, including Axie Infinity, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of AXS 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 Axie Infinity or any other cryptocurrency discussed.
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