In this guide you’ll get information about where to buy Injective Protocol token, if you are planning to buy INJ – You’re in the right place!
Injective Protocol is a unique platform that gives traders a lot of flexibility and option when trading off the digital assets. The idea is quite revolutionary, making cryptocurrency exchange open and completely decentralized – if possible with public operated networks. The centralized currency trading system has many flaws and downsides, including the slow and sluggish response, insider trading, high fees, server downtime, identity breaches, and many more. That’s why the DEX seems like a better option.
However, DEX has its own challenges, including scalability issue that makes it expensive to process and long time to manage. This is when Injective Protocol’s main role comes to the surface. It is able to resolve the common scalability issues while delivering to-notch performance. In this platform, users holding INJ tokens will have full control over the exchange since there is no centralized (governing) structure and body that will monitor (or control) the project’s development. This is the project that is launched officially through public offering – being backed by names like Hashed, Pantera, and Binance. The project has its own blockchain foundation, the Injective Chain.
Injective Protocol (INJ) Features
- Complete freedom. Users are free to take part in DeFi organization. They have the total power and control to introduce new ideas and to make possible changes.
- Open availability. The blockchain, Injective Chain, is open for everyone. Whether the user is an individual looking for an extra income or it is a big time corporation wanting to expand their horizon, users have the equal power and influence within the platform.
- Interoperability nature. Users are able to make use of the platform for interoperability activities, including trading and creating different derivatives and also different kinds of assets forms.
- Decentralized 2-layer platform. Not only the platform offers advanced decentralized system, especially to eliminate any intermediary or third party, but the 2-layer construction also makes it more solid and safer.
- Permissionless and open market. The automated system enables transactions to run without constant monitoring
- Unique 2-layer system. This construction and arrangement is unique and also beneficial because it results in zero (gas) fees and low latency.
- Complete and solid governance system. Anyone with INJ tokens has the voting rights
Where to Buy, Sell and Trade Injective Protocol aka INJ
You can basically use debit card, credit card, or even PayPal to buy the Injective Protocol (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Injective Protocol as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Injective Protocol. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Injective Protocol currency and exchange your Ethereum or Bitcoin with the Injective Protocol
- Store your Injective Protocol to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Injective Protocol, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with Injective Protocol:
IMPORTANT! Once you are registered to any of the above, find the BTC/INJ or ETH/INJ trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Injective Protocol (INJ) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Injective Protocol (INJ) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Injective Protocol. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Injective Protocol (INJ) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Injective Protocol (INJ) with Skrill?
You can’t buy INJ directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Injective Protocol. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Injective Protocol (INJ) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/INJ and begin the transactions.
Can I Buy Injective Protocol (INJ) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/INJ trading pair.
What Is the Best Payment Method to Buy Injective Protocol (INJ)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Injective Protocol right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Injective Protocol (INJ)?
Once you have purchased the Injective Protocol, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Injective Protocol (INJ)?
Find a crypto exchange which allow pairing INJ with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Injective Protocol (INJ) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Injective Protocol is to buy it from a reliable exchange.
This would be a perfect platform for people who want to have free trading access and easiness. With all the advanced technologies, users will have no problem managing their digital assets. Be advised, though, that the only way to get into the platform is through crypto purchase, which means that users will have to buy Injective Protocol (INJ) first.