Axie Infinity made simple
Everything you need to know about Axie Infinity and how to start investing init.
Current Price
This one’s easy: the price the coin or token is trading at right now.
$6.40 CAD
-$0.067684 (-1.05%) past 24 hours
Market Cap
The value of the entire supply of a specific cryptocurrency or token. It’s calculated by taking the price of a coin/token and multiplying it by the total number of that coin/token in circulation.
- $1,733,972,031.01
Circulating Supply
The amount of coins that have already been created and are available in the market.
- $149,616,945.29
Total Supply
The total amount of coins currently in existence minus any coins that have been burned or removed from circulation.
- $270,000,000
24h low - high range
Low-high range over the past 24 hours.
- $6.33 - $6.63
7 day low - high range
Low-high range over the past 7 days.
- $5.53 - $6.63
52 week low - high range
Low-high range over the past 52 weeks.
- $4.90 - $18.35
Why Wealthsimple Crypto?
Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?
Sign up in minutes right from your phone or laptop
Start trading crypto with as little as $1
No account minimums
No clunky dashboards — just one super simple app
Best of all: you don’t need to be an expert in crypto or blockchain to get started
Get started with Crypto
What can you do with Axie Infinity?
You can’t spend AXS within Axie Infinity — at least not yet. Sky Mavis plans to use AXS as the game’s native currency in the future, but as of January 2022, items in the Axie marketplace are purchased with ETH — the native coin of Ethereum, the blockchain the game runs on. (Technically, Axie Infinity relies on a modified blockchain that’s linked to Ethereum, called Ronin Chain.)
What you can do with AXS is stake it within Axie Infinity’s governance protocol to vote on changes about how the game should be run. If you have the game’s proprietary wallet, Ronin Wallet, you can also stake AXS within the game itself to earn rewards. Historically, returns have varied wildly, but as of January 3, 2022, Axie’s protocol estimates that you can earn 109% a year.
And of course, you can also trade AXS as a speculative asset. Like lots of other altcoins, AXS is highly volatile and prone to huge swings.
You can’t spend AXS within Axie Infinity — at least not yet. Sky Mavis plans to use AXS as the game’s native currency in the future, but as of January 2022, items in the Axie marketplace are purchased with ETH — the native coin of Ethereum, the blockchain the game runs on. (Technically, Axie Infinity relies on a modified blockchain that’s linked to Ethereum, called Ronin Chain.)
What you can do with AXS is stake it within Axie Infinity’s governance protocol to vote on changes about how the game should be run. If you have the game’s proprietary wallet, Ronin Wallet, you can also stake AXS within the game itself to earn rewards. Historically, returns have varied wildly, but as of January 3, 2022, Axie’s protocol estimates that you can earn 109% a year.
And of course, you can also trade AXS as a speculative asset. Like lots of other altcoins, AXS is highly volatile and prone to huge swings.
Is Axie Infinity a smart investment?
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Axie Infinity or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Axie Infinity or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.
How we keep your Axie Infinity safe
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Axie Infinity prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Axie Infinity to your Wealthsimple account in just a few taps.
As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Coinbase Custody) for cold storage.
FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Axie Infinity prices.
And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.
If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Axie Infinity to your Wealthsimple account in just a few taps.
Other cryptos to explore
- 1 inch (1INCH)
- Avalanche (AVAX)
- Aave (AAVE)
- Amp (AMP)
- ApeCoin (APE)
- Axie Infinity (AXS)
- Balancer (BAL)
- Basic Attention Token (BAT)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Chainlink (LINK)
- Celo (CELO)
- Chiliz (CHZ)
- Compound (COMP)
- Cosmos (ATOM)
- Curve (CRV)
- Dai (DAI)
- Decentraland (MANA)
- Dogecoin (DOGE)
- Enjin (ENJ)
- Ethereum (ETH)
- Fantom (FTM)
- Filecoin (FIL)
- Gala (GALA)
- Kyber Network (KNC)
- Litecoin (LTC)
- Loopring (LRC)
- Maker (MKR)
- Ox (ZRX)
- Polygon (MATIC)
- Polkadot (DOT)
- Ren (REN)
- Sandbox (SAND)
- Shiba Inu (SHIB)
- Solana (SOL)
- Stellar (XLM)
- SushiSwap (SUSHI)
- Synthetix (SNX)
- Tezos (XTZ)
- The Graph (GRT)
- Uma (UMA)
- Uniswap (UNI)
- USDC (USDC)
- Yearn Finance (YFI)
More info about Axie Infinity
Want to take a deeper dive? Check out these articles about Axie Infinity and the world of crypto.
- What is Cryptocurrency?Robert Stevens Cryptocurrencies are a type of digital asset that run on blockchain technology. Here’s everything you need to know.
- What is Blockchain? The Ultimate GuideRobert Stevens A quick primer on the building blocks needed to understand the basics of blockchain
Explore all articles on Crypto
Ready to get started?
Download the Wealthsimple Trade app, create your account, and start trading Axie Infinity with just $1. It’s that simple.
Get started
FAQs
AXS is the native token of Axie Infinity, a video game that lets you fight monsters in turn-based battles. Axie Infinity is pioneering a new genre of games called ‘play to earn’, which grants the opportunity to earn cryptocurrencies for playing the game. The game’s developers, Sky Mavis, plan to make AXS the native token of the game’s marketplace, but its other primary use is as a governance token; this lets holders spend the token to vote on the future of the game’s development.
Unlike SLP, Axie’s other token with an infinite supply, the total supply of AXS is capped to 270 million. As of January 3, 2022, there are 61 million AXS tokens in circulation. Tokens are continuously allocated to players, stakers, and a whole bunch are reserved for the game’s developers, Sky Mavis. Sky Mavis projects that the entire supply will be unlocked by 2026.
The game’s developers, Sky Mavis, plan to make AXS the native token of the game’s marketplace. As of this writing, however, you can only stake it within the game’s staking dashboard to earn rewards, or use it in minor governance votes. Sky Mavis plans to devolve total control over the game to its decentralized governance mechanism by September 2023.
Since AXS is an ERC-20 Ethereum token, you can also spend it in any Ethereum-based decentralized finance protocol that’ll accept it. For instance, you could become a liquidity provider on Uniswap, a decentralized exchange based on Ethereum. You can also trade it as a speculative asset, just like any other cryptocurrency, in the hopes that you could sell it at a higher price than the one at which you bought it.
Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.
Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:
Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circ*mstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.
Always keep solid records of any Axie Infinity transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.
Axie Infinity’s current market cap is $1,733,972,031.00.
The current price for Axie Infinity in Canadian dollars is $6.40.
Buying Axie Infinity with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.
From there, follow these steps:1. Tap the magnifying glass icon in the top right corner of your screen2. Type in Axie Infinity3. Tap Buy4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order
You can choose between two different order types when buying Axie Infinity. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.
You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.
A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.
