Summary: Shorting Axie Infinity is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.
We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.
Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.
It might sound a bit complex but don’t worry, it’s a lot easier than you might think.
How to Short Axie Infinity
Shorting Axie Infinity can be done in 4 steps:
- Find a crypto trading platform
- Sign up with the exchange
- Fund your account with fiat or crypto
- Short Axie Infinity
1. Find a crypto trading platform
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other cryptocurrency exchange that allows for short selling.
2. Sign up with the crypto trading platform
Let’s start with creating an account on eToro.
The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your eToro account
Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short Axie Infinity
These are the steps to follow to execute a short sell:
- Go to the search bar at the top, find Axie Infinity by entering the name.
- On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short the crypto.
- Enter the amount for which you want to sell Axie Infinity and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of Axie Infinity has dropped, go to your Portfolio, find the Axie Infinity trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short Axie Infinity!
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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Where to Short Axie Infinity (AXS)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.
Frequently Asked Questions
Can I short Axie Infinity on Binance?
Yes, you can short Axie Infinity on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.
About Axie Infinity
Axie Infinity a blockchain-based trading and fighting game is partly owned and operated entirely by its players.
Axie Infinity, inspired by popular games Tamagotchi (Pokemon) and Pokemon (Tamagotchi), allows players to create, breed, fight, and trade token-based creatures, known as Axies.
These Axies can come in many forms. Parts of each type are available in four different rarity categories: rare, extremely rare, legendary, and common. Axies may have any combination, which makes them very rare and sometimes unique.
Each Axie token (NFT), is non-fungible and can be used in 3v3 battles. Winning teams earn more experience (exp) which can then be used to improve an Axie’s stats or develop their body. These Axies may be bred together in order to produce unique offspring, which can either be used or traded on the Axie market.
Axie Infinity Shards are the Axie Infinity token's unique governance token. These tokens are used to take part in key governance voting and give holders the opportunity to have a say on how funds in Axie Community Treasury will be spent.
Six of the hundreds of potential body parts that an Axie could have -- each one having its own battle move -- are all available to them. This gives Axies an almost endless amount of options. Axies with weaker statistics can have extraordinary stats while those with strong combinations of body parts may have incredibly high stats.
Each Axie can only ever be bred seven times in order to control its population.
Axie Infinity provides a dedicated mating hub for players, which allows them to select the most suitable partner to breed their Axie. Axies can be bred for 0.005ETH and small love potion tokens (SLP).
AXS tokenholders will soon have the ability to stake their tokens to earn regular rewards. AXS tokenholders will, however, be able vote and play in order for them to receive their rewards.