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 or any other cryptocurrency listed on Coinsquare.
Where do I keep my Injective (INJ)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Injective (INJ) to your portfolio?
Create your account, fund it with spare change and get a little bit of INJ.
