Purchase Axie Infinity (AXS) with United Arab Emirates dirham (AED) easily at Switchere and benefit from fast, secure transactions.
Axie Infinity Shards (AXS) is the native governance token for Axie Infinity, a pioneering play-to-earn (P2E) digital pet universe built on blockchain technology. The game allows players to collect, breed, raise, battle, and trade fantasy creatures known as Axies, which are represented as unique Non-Fungible Tokens (NFTs). Axie Infinity aims to solve the problem of centralized control in gaming by empowering players with true ownership of their in-game digital assets and a stake in the game's development and ecosystem through its decentralized governance structure.
The core technology leverages the Ronin sidechain, an Ethereum-linked sidechain developed by Sky Mavis, designed specifically to address Ethereum's scalability issues, enabling fast and low-cost transactions for a seamless gaming experience. This Web3 infrastructure supports a complex digital economy where players can earn rewards. The AXS token is an ERC-20 token crucial for the ecosystem's tokenomics; its primary utilities include staking for rewards, participation in governance votes to influence the future direction of the game and the allocation of the Community Treasury, and potentially for certain in-game payments. Axie Infinity is a significant player in the GameFi and NFT space, driving adoption of blockchain gaming and demonstrating the potential of on-chain digital economies.
The most common method is using a regulated cryptocurrency exchange that operates in the UAE and offers AED as a fiat on-ramp. Users typically need to complete KYC/AML verification, deposit AED via a local bank transfer or debit/credit card, and then execute a trade on the AXS/AED pair or convert AED to a stablecoin like USDT to trade for AXS.
For optimal security and functionality, it's highly recommended to transfer your AXS from the exchange to a dedicated Ronin wallet. The Ronin wallet is a custom-built sidechain wallet for the Axie Infinity ecosystem, allowing for low-cost blockchain transactions and direct interaction with the Axie marketplace, staking dashboard, and the Katana DEX.
Ronin is an Ethereum-linked sidechain created for the Axie Infinity game to reduce transaction costs and speed up confirmations. Katana is the native decentralized exchange (DEX) built on the Ronin sidechain. It allows users to swap tokens within the Axie ecosystem, like AXS, SLP, and WETH, with very low fees. After buying AXS with AED on a central exchange, you can move it to Ronin to trade on Katana or use it for staking.
AXS, or Axie Infinity Shards, is the primary governance token of the Axie ecosystem. Holders can participate in key governance votes. Additionally, AXS can be staked to earn staking rewards, which are distributed from the community treasury. It is distinct from Smooth Love Potion (SLP), the in-game utility token earned by playing.
Yes, the UAE has a developing regulatory framework for digital assets. It's crucial to use a cryptocurrency exchange that is licensed by the relevant authorities, such as the Virtual Assets Regulatory Authority (VARA) in Dubai or the Abu Dhabi Global Market (ADGM). These platforms enforce strict KYC/AML compliance, ensuring a secure trading environment for your AED to AXS transactions.
Several fees may apply. First, a deposit fee for funding your exchange account with AED, which can vary between a bank transfer and a card purchase. Second, a trading fee (maker/taker model) on the cryptocurrency exchange when you execute the AXS purchase. Finally, a network withdrawal fee if you move your AXS tokens from the exchange to an external digital wallet like the Ronin wallet.