How To Sell Axie Infinity (AXS)

Axie Infinity is a blockchain based game which is operated and partly owned by the players. The ecosystem of the game has its own special token which is the Axie Infinity Shards (AXS). The game is built on Ethereum blockchain, and it is one of the fastest growing games built on blockchain. Axie Infinity Shards is an important cryptocurrency that should be in your portfolio, hence we will be discussing in this guide, on how to sell Axie Infinity Shards.

The game involves non-fungible token (NFT) monsters which are the axies. Players can buy, sell, trade, and even breed these axies and earn tokens. The popularity of the game has risen astronomically, and it has generated a lot of investment from investors including Mark Cuban.

AXS is a cryptocurrency on the rise, and its definitely one you should consider trading in order to generate profit. The crypto has risen over 4% within the last 7 days with a current circulating supply of over 60 million AXS. Before you can buy or sell AXS, an important decision is your choice of an exchange through which you can conduct your trade. An exchange is the most preferred method of trading AXS by experts even though there are other methods of selling your AXS including peer-to-peer transactions.

There are numerous exchanges available to you to buy and sell AXS, so to help your decision in choosing an exchange, you will be given a list of exchanges that has been observed to be of high quality by both experts and investors. They were critically assessed with a variety of factors considered, and they are considered excellent.

• eToro
• Capital
• Libertex
• Plus500
• Coinbase
• Binance
• AvaTrade
• Revolut
• CryptoRocket
• Changelly

These are some of the biggest exchanges in the world being used by millions of customers and with operations in a lot of countries. These cryptocurrency exchanges provide an array of trading tools and services to improve the quality of your trading experience. The exchanges are regulated and so you can trust them enough to trade with them, as they are required to comply with regulations designed to protect you.

These exchanges provide you with a platform where you can exchange your Axie Infinity for cryptocurrency or fiat currency when you want to sell your AXS. Due to the stability in price of stablecoins, many traders prefer to sell their AXS for stablecoins like Tether (USDT).

Before you choose a broker to trade Axie Infinity, there are a number of factors you need to consider. The trading interface is a factor to consider, you need a user-friendly interface that is intuitive and easy-to-use. Another factor is the trade pairs offered by the exchanges and which trade pair you are interested in. The goal of selling your AXS is to get an exchange in the currency you want, so it’s good to be sure the exchange you want to trade with offers your desired trading pair.

The security of the exchange is another important consideration as you will want to invest in a platform where your assets are safe. Also, you will want to know if the exchange is licensed by the relevant authority to conduct transactions in cryptocurrency, and also if they are compliant with regulations guiding the industry. The amount of liquidity for AXS that an exchange has, is another consideration because it will be easier for you to trade AXS on exchanges with high liquidity for AXS. So you should know how high the liquidity your exchange has for AXS.

These brokers that were listed above are well known around the world as they are used by millions of customers. They are used by both new and experienced traders and investors due to their great trading interface, excellent security, high number of trade pairs, high liquidity, and they are also licensed by relevant authorities. Hence, you should consider these exchanges while making a decision on your choice of an exchange for trading AXS.

How To Sell Axie Infinity

To sell Axie Infinity (AXS) is a straightforward process once you are familiar with the trading platform. For you to sell a cryptocurrency, there has to be a demand for it. Axie Infinity has been steadily rising in price and this is associated with the high demand for the crypto. Hence, selling ASX will be easy due to it’s high demand especially if you trade with one of the listed brokers including Binance exchange.

Axie Infinity is a game that earn players cryptocurrency, and it is based on Ethereum blockchain technology. Its popularity has been rising drastically, and it has become a top-grossing app. Its rate of growth in recent times has been impressive, and it’s in comparison to more established cryptocurrencies like Bitcoin and Ethereum. Due to this high demand for AXS, you can be rest assured that there won’t be any difficulty with selling your AXS.

Binance is an exchange you can trust when you want to buy or sell AXS, as it is one of the best exchanges available with extensive features to improve your trading experience. Binance offers you high liquidity for AXS, and a number of trade pairs for you to choose from. You can use the platform whether you are a new trader or an experienced investor in AXS. So you should place Binance high on your priority list while deciding on your exchange of choice.

Step 1: How to Buy Axie Infinity (AXS)

You need to own an asset before you can sell it; so before guiding you on how to sell AXS, you need to first know how to buy AXS. We have listed some exchange platforms where you can buy AXS including Binance. You should know that you don’t have to sell the AXS on the same platform you buy it e.g. you can sell your AXS on Binance despite buying it from another exchange.

Before you can buy AXS on Binance, you have to create an account with the exchange and undergo the verification process. After creating an account, and you’re verified by the platform, you can then deposit funds to your account. With the deposited funds, you can buy AXS and start trading.

You can deposit funds into your Binance account via various methods of payment depending on your preference. The payment options include credit or debit card, third-party services like PayPal, Neteller or Skrill. Then you can buy AXS directly with the deposited funds or buy a stablecoin first before buying AXS.

You can also create a demo account on Binance, with this you can trade on the platform with virtual money given to you. This provides you the opportunity to experiment with your trading strategy without risking your money. Also while trading with the demo account, you can become familiar with the platform and learn how to navigate the platform to buy and sell AXS without difficulty.

Buy AXS

Step 2: Know When To Sell

A very important consideration before you sell your AXS is the timing. After buying AXS and keeping in your portfolio for some time, what will determine if you make profit while selling your AXS is the timing of your sale. It is important to keep in mind that cryptocurrency including AXS are volatile assets and hence they could rapidly increase or decrease in price.

Before you start buying and selling AXS, it is advisable for you to have a sell target predetermined, at which point you sell your AXS holdings. This is regardless of whether you are holding a position over a short, medium or long term. Setting a sell target will give you a target price to aim for, after which you can sell at a profit.

A sell target will also protect from greedy tendencies to expect your gains to keep increasing rather than selling while you’re still in profit. This is important considering the fact that cryptocurrency can be volatile and hence the gains you accumulate can easily be wiped out in a market reversal. This reversal in the market might then result in you panic selling, and hence having a loss instead of the initial profit you had sold at your target price.

On Binance, trading charts and tools are available to you which will help you make informed decisions while trading AXS and other crypto. The trading charts provided on the platform will let you study the historical prices of AXS and other crypto, and help in your decision about the best time to sell AXS.

AXS Chart on Binance

Step 3: Know The Total Value Of Your Portfolio

As a trader, you should know the total value of your portfolio including your cryptocurrency assets. Many exchanges has a minimum withdrawable amount that you need to have in AXS before you sell your AXS. Knowing your portfolio and its value will help you plan your trading and make better decisions that could improve your trading profits.

You can easily check for the value of your crypto holdings through your account especially if you are trading with a platform with user-friendly interface like Binance. You can see the value of your AXS and other crypto holdings through your account. This can help you decide on when to sell your holdings after exceeding the minimum withdrawable amount by your exchange.

AXS Overview

Step 4: Close All Active Positions

Closing your active position will imply that you sell you AXS asset. This is an important step in selling your AXS because until you close your active positions, you are yet to realize your gains. If you buy AXS and you reach your sell target, then in order to close your active position, you need to sell your AXS holdings. Your gross profit or loss is therefore the difference between the opening price of your position and the closing price. Closing your position while trading AXS means that you exchange you AXS for fiat currency or stablecoin.

Cryptocurrency are volatile assets including AXS, so it is prudent for you to close your active position when you’re still in profit. Delay in selling your AXS while in profit could result in a reversal from gains to loss within a short period of time due to the volatility of cryptocurrencies.

To prevent losing your gains, it is therefore important that you close your active position and sell your AXS for stablecoins or fiat currency. The equivalence of which will reflect on your portfolio after closing your active position. This will help you to preserve the value of your AXS at the target price you choose to sell.

Slippage is a risk traders face while trying to sell their crypto holdings including AXS. It happens when the price of the crypto asset you want to sell settles for a price different from your initial price target. Slippage is more commonly associated with volatile assets, hence the more volatile an asset is, the more slippage you will likely experience while trading the asset. Slippage happens more when selling assets at market price.

When slippage happens, the result could be positive or negative. It’s a positive slippage if you make more profit than your initial target whereas it is a negative slippage if you make less profit or a loss compared to your initial position while trading AXS.

You can close your active position through your exchange, and this can be done easily especially if you trade with Binance. You can click on your portfolio and then check your crypto holdings. Then you can click on the segment for AXS and input the amount of AXS you want to sell and choose what trading pair you are interested in.

After choosing the AXS pair you want and is available with your exchange, you can then sell your AXS for the chosen currency and the equivalent price will reflect in your portfolio. After selling for your desired currency either a stablecoin or fiat currency, you can then withdraw your funds through a withdrawal system available on your exchange platform.

Closing trade on Binance

Withdrawal Requirements And Exchange Rates

Withdrawal of funds is an important consideration after buying and selling your AXS assets at your target price. This will be the next thing for you to consider after following the processes described above. So it is important that you consider the ease of withdrawal from a platform before choosing an exchange. Also, important are the charges on withdrawal and minimum withdrawable amount described on the exchange you want to trade with. Binance is an exchange that offers you favorable conditions with ease of withdrawal.

The requirements for withdrawal vary depending on the exchange you trade with, hence it is important to read about the requirements of your exchange. Also, you can read about customer experiences with withdrawal from a particular platform, this can help you understand the process involved in the exchange you are interested in.

Taxation on Cryptocurrencies In the US

Regulations regarding cryptocurrency are still undergoing review around the world, as different countries are adopting various stances on cryptocurrency. In the US, there is a new bill meant to address cryptocurrency that is still under review. The bill will address the taxation on capital gain while trading cryptocurrency, issue of tax evasion using cryptocurrency, etc.

Taxation on cryptocurrency businesses has been difficult due to their decentralized nature and this has been a source of concern for the US government. The government is looking towards proposing regulations that will minimize the use of cryptocurrency for money laundering and other illegal activities.

Best Crypto Exchanges

There are hundreds of crypto exchanges operating across the globe, and the best crypto exchange for you will depend on your preference and needs. So it is advisable for you to research the crypto exchange available in order to choose the one most suitable for you.

In order to help you in your decision, we will be listing some of the best exchanges that have been widely acknowledged as being the best. This is necessary because it will be almost impossible for you to research hundreds of exchanges in order to choose the one you want to trade with.

The exchanges that will be listed were assessed based on criteria including the user interface, security, quality of customer service, trading platform, customer base, etc. Based on these criteria, some exchanges were regarded as exceptional as they provide quality trading services to customers. Some services provided include trading bot, copy trading etc.

These exchanges have millions of customers who trusts them for their crypto trading, and they keep attracting new users to their platform, so you will be prudent to consider these exchanges. The best crypto exchanges identified after extensive research includes:

• eToro
• Capital
• Libertex
• Plus500
• Coinbase
• Binance
• AvaTrade
• Revolut
• CryptoRocket
• Changelly

Storing AXS In The Best Wallets

Another consideration for you will be how to store your AXS in a digital wallet. While conventional money is stored in a physical wallet or safe, digital money is stored in a digital wallet. You can store your AXS in either web-based digital wallet also known as hot wallet, or in hardware wallet also known as cold wallets.

Both types of digital wallet have their advantages and disadvantages which you should consider carefully before making your choice of digital wallet. Web-based wallets have the advantage of being easily accessible and the disadvantage of being susceptible to hacking which can result in you losing your crypto holdings on the web-based wallet. Hardware-based digital wallets are quite secure unlike web-based wallets and are quite safe from hacking.

The choice of which kind of wallet you will store your AXS will depend on what your preferences are. We have written a guide here where we inform you about the best crypto wallets available for your AXS holdings.

When Is The Best Time To Sell My AXS

The best time to sell your AXS holdings will depend on your trading strategy and style. Also, the time to sell will differ depending on the time frame you want to trade, whether short, medium or long term trading.

Before making a decision on when to sell your AXS, you should do market research and have a well-defined trading strategy. Then you need to decide whether you want to do short, medium or long term trading and then adjust your timing appropriately.

Guide To Automated Trading

Automated trading is a trading tool offered by exchanges to customers to enhance trading practices. It is especially useful for traders who can’t possibly be on ground to monitor trades all the time. This has reduced the amount of time traders need to spend on active trading even though their involvement is still needed for the trading bots to work effectively.

Trading bots are better at capitalizing on small surges in crypto prices in comparison to traders and hence they are also useful in that regard. Though there is a possibility of the trader losing massively if the market experiences a downturn and the trading bots couldn’t cut their losses without the intervention of the trader.

How To Invest Reasonably In Crypto

Cryptocurrency has been increasing in popularity and many investors are seeking to make profit from its rise. It is still advisable to trade crypto with caution due to its volatile nature and hence you can make a lot of money but also lose a lot of money without proper risk management.

Before investing in cryptocurrency, you should do market research and learn a lot about the market. Also, you should develop your trading strategy that you can depend on, and you can test these strategies using a demo account without risking your money. It is very important to prepare your mind for the time you will lose money, remember to keep calm and follow your tested and trusted strategy.

Summary

Axie Infinity Shards (AXS) is one of the fastest growing cryptocurrencies with a market capitalization of over $7 billion. It is a token used in the Axie Infinity game which is based on the Ethereum blockchain. You should consider AXS in your crypto holdings due to its increasing popularity and the potential gains it could generate for you.

You can trade AXS easily with many of the best brokers listed above including Binance. Furthermore, you can store your AXS holdings on either hardware-based digital wallet or web-based digital wallet depending on your preference. You should ensure you have a target price while trading, and you close your active positions while you’ve made gains.

Should I Sell AXS in 2021?

You can sell your AXS tokens when you make gains.

Here are some important things to know before selling your AXS in 2021

• It’s best to sell your AXS while you’ve made gains
• Manage your risks appropriately and have a diverse portfolio
• Do not delay in closing your active positions while you have made gains
• Do not panic sell when you should hold and remain calm

FAQs