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How to buy Injective Protocol (INJ)
Learn how to buy Injective Protocol (INJ) on 6+ crypto exchanges in our step-by-step guide.
You can buy Injective (INJ) on a cryptocurrency exchange like Uphold. These specialized marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Injective Protocol is a decentralized exchange that allows users to trade on any derivative market without paying gas fees (using Layer-2 technology). Here's how to buy Injective.
How to buy Injective in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Injective is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – bank transfer, credit card, debit card and bank transfer (sepa) payments are widely accepted.
- Buy Injective You can now exchange your funds for Injective. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Injective to your personal wallet.
Where to buy Injective
Find an exchange to buy, sell and trade INJ by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Injective?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Injective?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Injective.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing INJ with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Injective with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy INJ with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy INJ on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase INJ by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for INJ on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Injective?
The easiest way to buy INJ is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying INJ, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Injective has been performing recently.
Best Injective Protocol wallets to store your INJ
You can keep your INJ on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Injective a good investment?Investing in cryptocurrencies can be risky, so it’s important you understand the risks involved. Here are some factors to consider before buying INJ tokens:
- Supply: Initially, the supply of INJ coins was capped at 100 million tokens. According to the Injective Protocol website, the inflation target for INJ tokens is 7% at the beginning and it will taper off to 2% over time. Over time, the total supply of INJ tokens may be less than the initial supply, due to buybacks and burns.
- Staking: In March 2021, Injective Protocol launched Equinox Staking which allows INJ holders to lock up their INJ tokens in order to earn rewards. The baseline annual percentage yield (APY) for staking INJ tokens is 15% but you can earn up to 29%, according to the Injective Protocol blog.
- Use cases. Other than staking, other use cases for INJ tokens include protocol governance, exchange fee value capture, derivative collateralisation and liquidity mining.
Additional information about Injective can be found using our INJ analysis tools.
Today's Injective price versus ATH
Compare today's price of Injective ($1.18 USD) against its all-time-high price of $24.89 USD on 30 April 2021. The closer the bar is to 100%, the closer INJ is to reaching its ATH again.
ATH date: April 30, 2021
Injective ATH: $24.89
How to trade, convert or sell InjectiveYou can convert or sell your INJ with the same exchange you bought it through:
- Sign in to the exchange you have INJ on.
- If you store your Injective in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of INJ you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Injective.
- Complete your transaction and move your INJ to a wallet for storage.
Disclaimer: Cryptocurrencies, including Injective, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of INJ is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Injective or any other cryptocurrency discussed.
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