Coinsquare is the most trusted cryptocurrency trading platform in Canada. We facilitate your participation in the cryptocurrency space with over 50 of the top crypto coins on the market, including the popular Axie Infinity (AXS) coin.
Want to learn more about how to invest in cryptocurrencies like AXS? This page covers the essentials for beginning crypto investors, with instructions on how to get started quickly.
Add money in the currency of your choice (this can include CAD). These funds are what you’ll use to buy AXS.
Before you buy, you can check the current price of AXS, or any other token listed in Coinsquare in CAD or USD.
Congratulations! You are now an owner of the AXS cryptocurrency, along with thousands of others in the AXS community!
After making your purchase, your AXS will be stored in your secure and insured Coinsquare wallet. If you wish, you can withdraw the coin to your own external wallet.
While NFT-based online games aren’t new, Axie Infinity stands out from other blockchain games that came before it. Axie Infinity is a popular blockchain game that uses digital currency to reward players. It is built on the Ethereum blockchain and runs on the Ronin sidechain, a Layer-2 EMV blockchain designed to scale Axie Infinity.
In Axie Infinity, players can purchase, raise, trade, and battle digital pets called Axies. Sound familiar? The concept behind Axie Infinity is based on the successful Pokémon game series, which was part of almost everyone’s childhood. The main difference is players earn in-game currency, NFT, and Axie Infinity crypto coin by participating in gameplay and trading Axies. Users must purchase three Axie NFTs to play the game and create their first team.
In-game items are represented by non-fungible tokens (NFT) linked to digital content, like the characters and plots of land in the game. When you buy an NFT, you actually own that item and can sell it for real money in the game’s marketplace. Breeding Axies allows you to build powerful teams and yields additional NFTs to sell on its marketplace. Believe it or not, some Axie NFTs have been sold for $300 ETH per piece or roughly $600,000 in November 2020.
In 2018, Axie Infinity was founded by Trung Nguyen, Aleksander Leonard Larsen, and Jeffrey Zirlin as a fun way to show people how blockchain technology works. They all met while playing Cryptokitties, another NFT-based game, and wanted to use this new technology to fix a problem they saw in regular video games: all the money made from these games only went to the big companies that owned them.
Axie Infinity started by selling its Axie NFTs in April 2018. They later created the Axie Infinity crypto called Axie Infinity Shards (AXS) through a token sale on the Binance launchpad in November 2020. At first, AXS was only on Ethereum as an ERC-20 token, but then it was also made available on BNB Smart Chain as BEP-20 AXS and on Ronin as ERC-20 AXS. After that, Axie Infinity’s gaming platform moved from Ethereum to its sidechain, Ronin, in April 2021.
In June 2022, the first Axie Infinity game was closed and replaced by Axie Infinity Origins. The original game was later brought back on November 2022. As of July 2024, both versions are available to play and earn AXS. All of AXS’s features were also moved, and the AXS staking program started in late September 2021. In August 2021, Axie Infinity was the top Ethereum-based gaming decentralized app, with a market capitalization of more than USD 2 billion.
AXS tokens can be used for staking, payment, and community proposals. When players stake their AXS tokens, they are rewarded for holding onto them instead of selling them, which helps the community grow in the long run.
Players can make money in Axie Infinity by raising and trading Axies. Axie Infinity tokens (AXS) and Smooth Love Potion (SLP) are both used in the game in the Axie universe to breed and trade Axies. These Axies can then be used to create more tokens through trading and playing the game. AXS is the native Axie Infinity crypto used to govern the platform’s development. SLP is earned by playing Axie Infinity and can be used to breed new Axies, which can then be traded in-game for AXS. If you don’t want to play Axie Infinity, you can still buy and sell both tokens on decentralized crypto exchanges.
One thing that makes Axie Infinity different from other blockchain games is its unique in-game rules. For example, each Axie can only be bred seven times, which helps control the population. The developers know that finding the right balance is important to keep the AXS price reasonable and prevent inflation. In addition to having a set number of NFTs, Axies have unique qualities that make them diverse. This makes players want them even more, especially the rare Axies that are becoming popular collector’s items.
Additionally, since there is only a limited AXS available, it is considered a rare asset. This means that it has the potential to be a good investment in the long run because the value of the token won’t decrease due to unlimited inflation. Out of the total 270 million AXS tokens available, only 148,888,023 are currently being used. It is expected that all 270 million AXS tokens will be in circulation by 2026.
Investors with all levels of knowledge are welcome to participate in the exciting world of AXS investing, trading, mining, and all other activities in this technology space. As an inclusive community, crypto arenas work to be accessible to everyone.
Coinsquare is vigilant about education, maintaining a real-time news feed in its mobile app, and providing 24/7 customer service support for all our account holders.
Before investing in AXS, do your research and your due diligence. Evaluate the market performance, the AXS community, and the security aspects of AXS. As you immerse yourself in the crypto space, you can go further: assess the project’s partnerships with other companies and organizations, figure out what AXS’s plans are for the future, and evaluate the AXS community’s engagement, online presence, and enthusiasm.
Anyone who wants to invest in AXS should understand basic concepts like what a blockchain is, how blockchains work, and the purpose of consensus mechanisms like Proof of Work and Proof of Stake. These concepts are reasonably accessible and essentially the same for all cryptocurrencies. You can find plenty of online guides to explain them. If they don’t make sense to you right away, stick with it and search for resources that are suited to your learning style.
AXS’s market performance and price data over time isn’t representative of where AXS is going, but it will give you a sense of the confidence other investors have had in it. As with all investments, past results are not indicative of future performance, so be diligent in your research before buying any type of investment
Also, consider the market capitalization for AXS. The market cap is a metric used to indicate the total value of AXS. Each cryptocurrency has a market cap. This figure is important because it can be used to compare different cryptocurrencies and evaluate their relative dominance on the market overall.
Coinsquare makes this data easily accessible. We provide all the information you need to make an informed decision about buying AXS.
Sufficient liquidity when purchasing AXS on the trading platform you choose is important so that it’s easy to buy and sell without significantly impacting the price. Trading volume can be used as an indicator for trading interest in AXS within a specific timeframe.
Look into the partnerships that AXS has established with other companies and organizations. Partnerships with reputable, well-respected companies indicate trust in AXS. These partners often conduct extensive due diligence, which will give you confidence in AXS and its ongoing viability.
Partnerships with tech companies can also give AXS access to resources like expertise and equipment, while strategic partnerships can provide the financial backing that AXS needs to shore up its stability and continue to innovate and grow.
Overall, solid partnerships suggest that other companies see value in AXS and are willing to back it with their own resources.
A large and active community is important to a cryptocurrency’s success. Follow AXS’s social media channels to see how involved people are with AXS, keep up with the news about it, and get a sense of the community vibe. Developer support for AXS can give you additional information about the AXS community.
Investigate any past security incidents and see how they were addressed. Check on the social media chatter about these incidents to evaluate how the public and the AXS community responded.
Collecting information about AXS before you invest will help you make better investment decisions and manage any potential risks. Coinsquare is dedicated to giving you as much information as possible to help you get comfortable in the crypto space.
You have options for trading platforms in Canada. Why choose Coinsquare?
Here are the advantages we offer to individuals or organizations interested in AXS or other cryptocurrencies:
Since its founding in 2014, Coinsquare has become a leader in the cryptocurrency space in Canada. Over the past decade, we have welcomed over 500,000 Canadian users to the crypto space and facilitated trades in excess of 8 billion Canadian dollars. We have the experience, customer base, and dedication to the community to have earned an outstanding level of trust and success. Open an account today; let’s see where we can go together!
