What is Injective (INJ)?
INJ is the governance token of the Injective blockchain, a layer-1 network which markets itself as the blockchain built for finance. Injective boasts unique features such as an on-chain order book that supports spot, futures, and derivatives trading, that aim to attract those who would build financial dApps.1 Injective was built using the Cosmos SDK, and consequently uses the Tendermint proof-of-stake consensus mechanism.2 Injective values interoperability, enabling communication with other chains that employ the Inter-Blockchain Communication (IBC) protocol through Wormhole (a protocol developed through the Cosmos SDK).3 Injective is available as the native asset of the Injective blockchain, or as an ERC20 token. They are interconvertable via the Injective Hub, but the ERC20 token must be converted to native for staking. The current offering of INJ at Coinsquare is the ERC20 token only.
How to buy Injective (INJ)?
Here's how to buy Injective on Coinsquare
To buy Injective, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying INJ. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select INJ from the list on the trade section
Coinsquare lets you trade INJ without leaving the app. You can also check the Injective price and convert INJ to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the INJ price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Injective (INJ)
Congratulations! You’re now the proud owner of INJ. You can either HODL or use it to exchange INJ to CAD.
Where do I keep my Injective (INJ)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.
Ready to add Injective (INJ) to your portfolio?
Create your account, fund it with spare change and get a little bit of INJ.
