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How can you buy Axie infinity (AXS) in India?

By March 21, 2023May 16th, 20236 minute read

Play-to-earn games bring together decentralized finance and gaming via a variety of utilities, including NFTs, cryptocurrencies, blockchain, Defi, metaverse, etc. In 2021, 1.4 million unique wallets were daily interacting with online games. This accounts for a whopping 49% of blockchain usage. And when discussing play-to-earn games, Axie Infinity is undoubtedly the market leader. Axie Infinity is the most searched NFT in 112 countries of the world. 

But how to buy Axie Infinity in India? In this article, we will have a deeper look at Axie Infinity price INR, how to buy AXS coin in India, and everything you need to know about the market leader in the play-to-earn gaming world.

What is Axie Infinity?

Axie Infinity is an online play-to-earn gaming universe focusing on Pokémon-like creatures called Axies. Players can collect Axies as virtual pets. Axies can be used to battle, breed, collect, raise, and build kingdoms. What distinguishes Axie Infinity from other online games is the synergy it has established between traditional online gaming and blockchain. This Ethereum-based game employs a design that allows players to own their virtual assets and earn rewards for those who achieve a high skill level.

Axie Infinity is the brainchild of Sky Mavis, a Hojimin-based gaming company founded in 2018 and has since released several innovative-powered games. Trung Thang Nguyen directed Sky Mavis, a smart 19-year-old CEO who is also a co-founder of Lozi.vn, a Vietnamese e-commerce firm that is still active.

Breeding Axies allows you to create potentially more powerful teams and generates more Axies to sell on the marketplace. As of August 2021, some Axies have sold for up to a massive 300 ETH. The cheapest Axies, known as ‘Floor Axies,’ cost around $30 or sometimes even less. However, Floor Axies are frequently weak in battle and are unlikely to earn much for their owner. 

How does Axie Infinity Work?

The entire gameplay of Axie Infinity revolves around the strategic use of Axies’ fighting traits to outduel opponents and earn rewards. The Axie Infinity universe allows its players to truly own, buy, sell, and trade resources earned through skilled gameplay while contributing to the ecosystem. Axies are generated by users and contain unique proof-of-purchase and ownership records as they are minted as NFTs. Therefore, the game ensures verifiable ownership of in-game assets.

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Players can collect a plethora of unique Axies with varying body parts and appearances. Body parts are used to unlock abilities for Axies that differ between games. The body parts have different values, benefits, and skills from one game to the next. Body parts have their own unique card art that players can collect.

Axie Infinity Shards (AXS) is the native cryptocurrency that powers Axie Infinity’s ecosystem.  AXS is an ERC-20 governance token. AXS comes with a fixed supply of 270,000,000 tokens. AXS tokens can be bought, traded, or earned by playing the game. AXS token holders have the right to vote on any changes to the platform’s ecosystem.

Token holders can stake AXS through the sidechain wallet to Axie Infinity – the Ronin wallet – to receive staking rewards and treasury yield in addition to earning AXS through gaming. This means token holders can have their tokens locked up in exchange for interest. Axie Infinity initially offered 400% APY for staking AXS coins. In January, Axie announced to reduce monthly staking rewards to 1,566,000 AXS tokens from the previous 2,000,000. The community treasury provides these rewards, funded by marketplace fees and in-game purchases.

How to Buy Axie Infinity in India?

If you are wondering how to buy Axie Infinity in India, then WazirX can be your best choice. You can buy AXS coin in India via WazirX, India’s most trusted cryptocurrency exchange, by following the few simple steps listed below:

#1 Sign Up on WazirX 

To begin with, create an account on WazirX by clicking here.

#2 Fill in the Required Details

Put in your email address and choose a secure password. 

#3 Email Verification and Account Security Setup

Next, verify the email address by clicking on the verification link you received in your inbox. Following that, you have two options to ensure the security of your account – the authenticator app and mobile SMS. 

Remember that the authenticator app is more secure than mobile SMS because there is a risk of delayed reception or SIM card hacking.

#4 Choose Your Country and Complete KYC

After selecting your country, complete the KYC process. You can not trade peer-to-peer or withdraw funds on the WazirX app without completing your KYC. 

To complete your KYC, you need to submit the following details:

  • Your full name as it appears on your Aadhaar or any other ID proof
  • Your birth date as stated on your Aadhaar or any other ID proof
  • Your address as it appears on your Aadhaar or any other ID proof
  • A scanned copy of the document
  • A selfie of yours to finish the procedure

And you are done creating your account! Within 24 to 48 hours, the account is usually validated.

Buy AXS on WazirX via P2P

WazirX allows you to check the AXS coin price INR chart before buying AXS crypto via WazirX. Check the AXS coin price INR chart on WazirX here. You can buy AXS using USDT.

To buy USDT, you can use the WazirX P2P route. This is fast, secure, and free. Follow these simple steps to buy USDT and then AXS: 

  1. Log in to your WazirX account on the web/mobile app and select “P2P” from the “exchange” option. 
  1. Next, click on the ‘Convert INR into USDT’ option. 
  1. Add the INR price at which you want to purchase USDT. Next, add the number of USDT tokens you want to purchase and click on “BUY”. Here, the minimum purchase should be 14.5 USDT. 

Once you click on the buy button, WazirX will match you with sellers. However, if you wish to purchase the USDT from a specific seller, you can add the XID of that person and complete the transaction.

  1. You need to select a preferred mode of payment next. UPI and IMPS mode are the two options available. Please note that IMPS linking is mandatory on the WazirX platform; however, UPI linking is optional.
  1. Once you confirm and click on the message “YES, I WILL PAY’, you will get 60 additional minutes to complete your payment. In case of non-payment, once confirmed, a minimum penalty of 10 USDT or 1.2% of trade will be levied. False confirmations can also cause your account to get locked. 
  1. Complete the payment as per the payment details on the screen (seller’s bank/UPI details). Once the payment is complete, upload the payment proof and click on the checkbox “I HAVE PAID”.  

Once the seller confirms the receipt of payment, your order will be marked complete, and the USDT purchase will be reflected in your “funds”. 

  1. Now you can use this newly acquired USDT balance to purchase AXS crypto on the WazirX exchange. Go to the ‘exchange’ option on the web/mobile app and select AXS crypto from the list of the tokens available in the USDT market.  All the AXS coin price INR chart, order book data, and an order input form are visible on the right side of the screen. Wait for some time. It will only be a short while before your order is executed. Once done, you will receive the AXS coins you purchased in your WazirX wallet.

You can also follow this youtube tutorial on how to buy crypto safely and securely via WazirX P2P. 

Future of Axie Infinity

The Axie Infinity ecosystem has underperformed in 2022. Its player count dropped to 8,950 in June from 63,240 in January, which makes a nearly 85% drop. This coincides with AXS’s 80% price drop during the same time.

However, the fusion of the crypto universe and online gaming in the form of Axie Infinity represents an intriguing shift not only in the future of online gaming but also in the growing importance of digital ownership. This game is many people’s first foray into blockchain-based games, which allow them to connect the digital and real worlds. For instance, in the Philippines, some players have spent their winnings of Axie Infinity on real-world land and houses as well. With NFTs, play-to-earn gaming, and the Metaverse gaining popularity day by day, the Axie Infinity game is still very much on the top of the list in the gaming world.

Frequently Asked Questions

How To Invest In Cryptocurrency In India?

There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is the process of verifying and adding transactions between users to the blockchain public ledger. Purchasing cryptocurrency in India is a straightforward procedure where investors simply participate by registering with a crypto exchange such as WazirX. After registering for an account, citizens can trade multiple cryptocurrencies, store cryptocurrency in wallets, and more.

How Many Cryptocurrencies Are There?

There are over 5000 other digital currencies available on the internet in addition to Bitcoins. The only problem is that they haven't gotten the users' attention. Besides Bitcoins, a few other digital currencies have gained popularity among users. It's been more than ten years since Bitcoins were first released, and now they've achieved new heights thanks to their phenomenal success.

Is Mining Cryptocurrency Legal?

Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.

Are Cryptocurrencies Legal In India?

In India, cryptocurrency is legal, and anyone can buy, sell, and trade it. Because India lacks a regulatory system to regulate its operations, it is presently uncontrolled. According to the Ministry of Corporate Affairs, companies must now document their crypto trading/investments inside the financial year.

How To Invest In Cryptocurrency?

There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.

Is Bitcoin And Cryptocurrency The Same Thing?

Bitcoin is a cryptocurrency that was designed to facilitate cross-border transactions, eliminate government control over transactions, and streamline the entire process without third-party intermediaries. The absence of intermediaries has resulted in a significant reduction in transaction costs. Satoshi Nakamoto, the creator of Bitcoin, created the first cryptocurrency in 2008. It began as open-source software for money transfers. Since then, plenty of cryptocurrencies have emerged, with some focusing on specific fields.

Is Crypto Legal In India?

Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India

Who Invented Cryptocurrency?

Satoshi Nakamoto invented cryptocurrencies and the technology that makes them function in 2009. The presumed pseudonymous individual or persons who invented Bitcoin used this identity. In addition, Nakamoto created the first blockchain database. Even though many people have claimed to be Satoshi Nakamoto, the person's identity remains unknown.

What Are The Best Cryptocurrencies To Invest In?

The best cryptocurrencies to invest in would be the ones you study and analyze in detail. Some of the most popular cryptocurrencies include Bitcoin, Ethereum, and many altcoins such as Tron, Ripple, Litecoin, etc.

Is Cryptocurrency Legal In India?

In India, cryptocurrencies are legal; anyone can purchase, sell, and trade cryptocurrencies. They are currently unregulated; India does not have a regulatory framework in place to regulate its functioning. According to the Ministry of Corporate Affairs (MCA), companies must now declare their crypto trading/investments during the financial year, according to the Ministry of Corporate Affairs (MCA). Cryptocurrency transactions have been taxable in India when people receiving such gains are Indian tax residents or where the crypto is considered to be domiciled in India

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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