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Axie Infinity, launched by Sky Mavis in 2018, blends digital pet ownership with NFTs in a unique blockchain game. Inspired by Pokémon and CryptoKitties, players collect, breed, and battle NFT creatures called Axies. In my Axie Infinity review, I will reveal what makes the game a leader in the NFT gaming world.

By combining familiar gameplay with the innovative play-to-earn model, Axie Infinity has captured the hearts of players globally, especially in regions like Southeast Asia and Latin America. Plus, you can get tangible rewards in the form of AXS tokens. Just do not forget to save your hard-earned assets on trusted crypto wallets like Ledger Nano X or Trezor Safe 5.

Ready to dive into what makes this game so special? I’ll cover everything from what is Axie Infinity and its marketplace dynamics to the intricate tokenomics, all to help you figure out if the game Axie Infinity is for you.

Verdict at a glance: Axie Infinity shines in the NFT gaming space with its strong play-to-earn model, backed by an active community and diverse gameplay. But be aware of the high entry costs and market ups and downs that could impact your experience.

Pros

  • Play-to-earn model
  • NFT integration
  • Some Axies have high value
  • An interactive, community-driven project
  • Diverse gameplay modes

Cons

  • Previous hacking incident
  • Upfront investment required

What is Axie Infinity?

Axie Infinity is a game based on the Ronin sidechain and developed by Sky Mavis in 2018. In this colorful, monster-themed game, Axie Infinity players can collect, breed, and battle NFT creatures called Axies. Known to be a pioneer in the NFT space, let's explore the backstory of the game further before diving deeper into my Axie Infinity review.

Axie Infinity was founded by Trung Thanh Nguyen, a proud Vietnamese. The game's studio has headquarters in Ho Chi Minh City, which gives us a hint as to why the game blew up in Southeast Asia. But the Axie Infinity team—consisting of 40 people—is multi-national, with their experiences extending to Japan, South Korea, Hong Kong, Canada, and the USA, among others.

When creating Axie Infinity, Nguyen had spent some time on CryptoKitties before deciding to build his own game, taking inspiration from the popular Pokemon series and a free-to-play virtual pet browser game, Neopets. Finally, Nguyen and the team developed the game's first real-time card battle system, complete with its own application, in 2018.

Going forward, 2021 was a big year for Axie Infinity. The game migrated completely to the Ronin blockchain to speed up transactions and reduce gas fees. It was around this year, too, when the game reached its peak—accumulating 2.8 million daily active users, with 40% of them coming from the Philippines.

The timeline of Axie Infinity further reveals the full development of its metaverse, comprising a couple of game types that feature different storylines, interfaces, artistic directions, and others—as follows:

  • Axie Infinity: Origin. The brand new battle version of Axie Infinity that has upgraded to V3 (with V2 available to play on the side). Axie Infinity: Origin involves sequential turns between players, card changes, energy reset and boosters, runes and charms, as well as overall improvements with the game's mechanics, characters, and stats.
  • Axie Infinity: Homeland. In Axie Infinity's world called Lunacia, users can purchase tokenized plots, which serve as residences and operational centers for the Axies you play. As time goes by, you can develop and upgrade your plot using a range of available resources.
  • Axie Infinity: Raylight. The ecosystem's first mini-game that allows land owners to sow minerals, grow plants, and ultimately cultivate the most stunning land plot in all of Lunacia. With every progress, players can unlock new ingredients, secret recipes, and decorative elements to further beautify their lands.
  • Axie Classic. A turn-based card battler where players team up to duke it out in the arena. For victory, Axies must play those cards at an optimal time, using their body parts as powerful weapons. Axie Classic was the first-ever game to reward players in ERC-20 tokens.
  • Project T. A recent prototype launched by the team, Project T represents a virtual space where fellow Axie owners and Axies can meet up and interact with one another.

So, yes, Axie Infinity's play-to-earn (P2E) model sets the game apart, allowing players to earn income by trading digital goods in a decentralized way[1]. Whichever game you choose to play, users can gain real-world value through in-game tokens like Smooth Love Potion (SLP) and Axie Infinity Shards (AXS), fueling a thriving in-game economy where Axies and other items are traded in the Axie Infinity Marketplace.

To really understand what is Axie Infinity, you need to understand its core gameplay. At its center are Axies, unique NFT digital pets that you mainly use in the battleground. Let’s dive into how these Axies create a fun and strategic play-to-earn experience.

Axie Infinity Review: PROS

Axie Infinity has become a top pick in crypto gaming, offering unique features and real-world rewards that set it apart. My Axie Infinity review will break down what makes the game so popular, from its active community and varied gameplay to its ease of access across devices.

Diverse Gameplay Modes

What wouldn't be a better way to start my review of Axie Infinity without a lowdown on its gameplay?

Axie Infinity centers around Axies—digital pets that are unique NFTs you can collect, breed, and use in battles. Each Axie has its own set of stats and abilities, which was further refined in the most recent version of Axie Infinity: Origins, making every one of them different. The game is all about strategy, where you pick the best Axies to outsmart your opponents in turn-based battles.

Axies are divided into nine classes, like Plant, Beast, Aquatic, and Bird, each with its own strengths and weaknesses. For example, Aquatic Axies excel against Beast, Bug, and Mech classes. Your Axies also have four key stats: morale, speed, health, and skill. These stats determine everything from how fast they attack to how much damage they can take in a fight.

Axie Infinity review: more than a game.

Additionally, every Axie has six body parts that affect their abilities in a battle. From their horns to their tails, each part plays a role in how they perform. This adds another layer of strategy, allowing you to mix and match different traits to create the ultimate team.

Now, you may remember when I mentioned how there are a couple of game types in Axie Infinity's universe. Well, in Axie Infinity: Origins, there are several gameplay modes to cater to different types of players. The Player vs. Player (PvP) battles are ideal for those who enjoy competition, requiring careful selection and a combination of Axies with complementary abilities to outmaneuver opponents in real time.

For a more relaxed experience, the Player vs. Environment (PvE) quests allow players to explore the Axie Infinity world, complete tasks, and earn rewards at their own pace. The PvE mode is great for enjoying the game’s narrative and building skills before diving into PvP battles.

Furthermore, breeding and raising Axies adds even more variety to the game. Players can experiment with different combinations to create new Axies with unique traits, potentially increasing their value in the marketplace. Axie Infinity: Origins's way of keeping its gameplay fresh and full of possibilities may encourage creativity and long-term investment for its players.

Play-to-Earn Model

There's a valid reason why the game Axie Infinity is a sensation among those who are interested in crypto and gaming. That's due to the play-to-earn (P2E) model, which I've touched on earlier in my Axie Infinity review, but allow me to further explain why this approach has become so widely adopted in the Web3 gaming ecosystem.

By implementing P2E, Axie Infinity allows players to earn real money through battling, breeding, and completing quests. They can collect tokens like Smooth Love Potion and Axie Infinity Shards, which are tradable against top-performing crypto like USDT on top-tier exchanges, namely Binance and Bybit.

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Those two main tokens play a key role in empowering the game. Let me explain how they both work in this Axie Infinity review, starting from AXS. Short for Axie Infinity Shards, AXS isn’t just a digital currency—it’s your ticket to influencing the game’s future.

One of the key features of AXS is its limited supply of 270 million tokens, designed to increase in value over time. Players can earn AXS by participating in the game, and it’s also needed for breeding new Axies, which keeps demand for the token high.

On the flip side, SLP is the workhorse of the Axie world. Earned through battles and adventures, SLP is essential for breeding Axies. Unlike AXS, SLP doesn’t have a cap on its supply, meaning it’s always in flux as players earn and spend it.

The constant market movement of SLP not only helps the token circulate but also makes its value more unpredictable. Together, AXS and SLP create a dynamic economy within Axie Infinity, offering opportunities but also presenting challenges due to their fluctuating values.

Thanks to Axie Infinity's earning system, the game has become a massive hit in Southeast Asia and Latin America. However, Axie Infinity is just a game, and whether its internal tokens can serve as a reliable source of income remains a subject of debate.

Axie Infinity review: benefits.

Aside from the crypto rewards, breeding and trading Axies are other strategic elements of the game. Players select Axies with desirable traits to create valuable offspring, which can be used in battles or sold in the Axie Infinity marketplace. The increasing cost of breeding encourages careful planning, making it a crucial part of the game's economy.

Additionally, Axie Infinity's marketplace further enhances the game's earning model by allowing players to buy, sell, and trade Axies and other items, creating a dynamic, player-driven economy.  Approaching this strategy to gameplay, combined with the opportunity to earn tangible rewards, Axie Infinity has managed to stand out in the blockchain gaming world.

But the game Axie Infinity does not stop there. To further improve accessibility, Axie Infinity uses a sidechain, a secondary blockchain with its own consensus protocol[2]. Specifically, Axie Infinity uses the Ronin sidechain, which helps speed up transactions and reduce fees. Consequentially, players anywhere in the world can trade and earn without high costs.

As highlighted in this Axie Infinity review, the integration of the Ronin sidechain alongside the play-to-earn model is a key driver of the game’s global success. Do not forget to take notes down—some of the insights here may be helpful when you're figuring out how to play Axie Infinity later on.

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NFT Integration

In Axie Infinity, every Axie is an NFT, which means you truly own your in-game assets. Axie's ownership lets you breed, trade, and sell your battle pets, each having unique value based on its traits and rarity. Moreover, what’s fascinating in this Axie Infinity review is how these NFTs have a larger role in the game's universe.

Axie Infinity's NFT can be linked to the digital content you own in the game, like your other Axies or the land plots populating the game. Plus, Axies work differently than most NFTs and conventional in-game items. You can sell your battle pets on Axie Infinity's marketplace for actual cash.

The game Axie Infinity even has a "Mating Hub" dedicated to that. Through Mating Hub, players can find potential breeding partners. The more powerful your Axie Infinity NFT is, the bigger the rewards you yield. Some rare Axies have even been reported to be sold for 300 ETH, or equal to $600,000.

Axie Infinity review: the characters in the marketplace, as shown in the homepage.

Seeing the excitement in the community, Axie Infinity extended the use of its character NFTs toward other areas in its roadmap. Most notably, Axie Infinity: Homeland allows players to purchase tokenized plots of land. Beyond simply breeding and battling Axie Infinity NFTs, players can build their own land, customize their terrain, and cultivate shareable experiences with the community. 

Furthermore, Axies' utilities aren't just tied to the game. In programs like Yield Guild Games, players loan their Axies to other players to rake in more rewards in PvP battles. The total profits are then divided between the lender and the borrower. This particular activity has become increasingly popular in countries like Indonesia and the Philippines. 

Although the sustainability of Axie Infinity's earning model is still largely questionable, it does give us a glimpse into how a player-owned economy helps reshape the game. Although my Axie Infinity review has shone a light on how Axie Infinity can be a promising investment, it requires efforts and research on the players's side, too.

Strong Community Support

Axie Infinity’s community is another one of its biggest strengths. With the introduction of Axie Infinity: Origins, the game’s community has grown even stronger, actively shaping its future.

In the virtual world of Axie Infinity, players exchange strategies, organize events, and support each other, fostering a welcoming environment for all. These connections often extend beyond the screen, as Axie Infinity occasionally hosts offline tournaments, allowing players to meet their virtual friends in person.

Esports and tournaments are a few examples of real-world events Axie Infinity has hosted over the years. Due to the game's skill-based and competitive nature, players are drawn to partake in Axie Infinity's battle system as they fight for the digital gold.

So far, the winners and players of Axie Infinity have earned thousands of dollars worth of cryptocurrency, either in online or offline gatherings hosted by Axie Infinity and third-party sponsors. Recently, though, Axie Infinity has been doubling down on online gaming events.

Axie Infinity review: global community.

As of writing, a new event entitled "Axie Classic Competitive Season 5" is live. The game introduces several updates, including the Guild Leaderboards that are tied to a 10,000 AXS prize pool and 3,000 AXS in Guild Milestones.

So, that's how Axie Infinity maintains collaboration and engagement in the community. But to ensure that the game continuously evolves, Axie Infinity operates on its own governance system, too, granting special privileges for token holders.

Specifically, players with AXS tokens can vote on decisions that influence the game’s development, giving them a real say in how the game transforms. Such active engagement deepens their bond with the game and helps ensure its continued relevance in the rapidly evolving blockchain gaming world.

Beyond gameplay, the community contributes by creating valuable content like tutorials and fan art, which enhances the Axie Infinity NFT experience, making the game more accessible and enjoyable. The players' ongoing involvement is a central reason why Axie Infinity remains popular and continues to thrive.

More importantly, Axie Infinity has established a strong presence on social media like Discord, increasing the accessibility of the community to the broader public. As highlighted in user Axie Infinity reviews, the Discord servers are helpful as they're multilingual. Users can find channels in English, Spanish, Tagalog, and Portuguese, ensuring global and regional language support for anyone.

Cross-Platform Accessibility

Another standout feature is Axie Infinity's cross-platform accessibility, allowing players to enjoy the game on any device, from a Windows PC and Android phone to an iPad and MacBook. Thanks to this versatility, the game becomes easy to access and play, no matter where you are and whichever device you're on—which is definitely worth a highlight in my Axie Infinity review.

Axie Infinity's wide availability is a major part of the game's overall appeal, attracting both casual players on mobile devices and dedicated gamers on desktops. By supporting multiple platforms, the game has expanded its reach and built a diverse global audience.

The seamless experience of playing across different platforms makes it easy to fit Axie Infinity into your daily routine. Whether you’re at home or on the go, the game is always within reach, ready to pick up where you left off.

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Axie Infinity Review: CONS

While Axie Infinity has a lot to offer, it’s important to consider some of its drawbacks as well. This section of the Axie Infinity review looks at the challenges players might face, from the high cost of entry to the complexity of the game’s economy. Read on to learn about the potential downsides and how they might impact your gaming experience.

High Entry Costs

While most play-to-earn games do not require upfront investment, Axie Infinity does. While I was playing the game, I found the entry costs to be considerably high, which I think should be discussed in my Axie Infinity review.

In order to start playing Axie Infinity, players need to purchase at least three Axie NFTs. The total price can even amount to hundreds of dollars. As the game's popularity has grown, unfortunately, so has the price. What used to be a more affordable purchase now can easily exceed $500, which can be daunting for those interested in joining.

The game's rather costly barrier to entry has become a subject of criticism, not only among players but also experts, brewing further controversy. When players pay money to boost in-game performance, their actual skills are no longer at stake. Instead, the system may favor those with stronger economic power[3], making the game less accessible to lower-income groups.

Axie Infinity review: the Axies and their pricing on the marketplace.

While there are Axies that cost 0.001 ETH (or equal to $2, as of writing), their capabilities are rather worthless compared to their more expensive counterparts. Of course, you can upgrade them, but that comes with a cost, too.

Not to mention, Axie Infinity incurs additional fees for its in-game mechanisms, which I'll touch on in a while in my Axie Infinity review. The financial commitment required to start playing might deter many potential players.

While alternatives like borrowing Axies or participating in scholarship programs exist, these options don’t fully eliminate the cost burden. As a result, Axie Infinity remains less accessible compared to other games, potentially limiting its player base growth.

Security Issues

While the game operates on a fully scalable Ronin sidechain, it's also important to note in this Axie Infinity review that the blockchain previously suffered one of the biggest hacks in history.

The cyberattack took place in 2022, and different stories spiraled on the internet. What we know for sure is that $620 million was stolen from the network. Axie Infinity has assured that their assets were not stolen. That said, the bridge—or the underlying assets that allowed the conversion of the game's propriety tokens into cash—was hacked, causing huge liquidity issues.

Thankfully, the FBI was able to crack the case, linking the digital asset heist to Lazarus and APT38 hackers, two notorious groups working for the North Korean government.

Although this tragedy happened in the past, it's also a cautionary tale for crypto game players. The rule of thumb is to have your personal storage solution to immediately safeguard your crypto assets once you've earned them. I'd recommend cold wallets, as they're more secure than hot wallets in general, like Ledger Nano X or Nano S Plus. Moreover, Ledger has never suffered a breach as of writing.

Axie Infinity Fees and Pricing

I've discussed a bit regarding the game's costs in this Axie Infinity review, but there are more factors to consider, especially if you're interested in proceeding with how to play Axie Infinity.

Here are some important pointers to know regarding Axie Infinity's marketplace fees:

  • Axie Marketplace fees have increased to 5.25%effective as of March 2022.
  • Around 1% of those fees will be allocated to facilitate Axie creator codes.
  • As for transactions that involve creator code, 4.25% of the marketplace volume will be given to the Treasury, while the rest 1% will be given to the creator.
  • Transactions that do not involve creator code will be distributed fully to the Community Treasury.

Be mindful of the cost requirements for playing specific games in Axie Infinity, too, which are laid out in the following table:

Game Starter Requirement Cost Estimates
Axie: Classic Three Axies in your Ronin wallet Starting from $10 (the lowest Axie is around $2)
Axie Infinity: Origins Three Axie Infinity NFTs for battles Starting from $10 (the lowest Axie is around $2)
Axie Infinity: Homeland One land in your Ronin wallet Starting from $2.42
Axie Infinity: Raylights One land in your Ronin wallet Starting from $2.42
Project T One Axie in your Ronin Wallet Starting from $2

Table: Upfront costs to play specific Axie Infinity games.

Last but not least, leveling up your Axies (via App.axie), also known as ascension, will require some AXS. Although you have to pay in AXS, the price will stay fixed in dollar terms.

Axie Infinity has pushed such updates on November 9, 2023, through the tweet below:

Disclaimer: All the prices shown here are subject to change, and they remain relevant as of writing. Please check Axie Infinity's official website and social media for real-time pricing updates. There may be promotional events that affect these prices, as well.

How to Play Axie Infinity

Starting your journey in Axie Infinity requires a clear understanding of the steps involved, and therefore, this Axie Infinity review will guide you through each phase, ensuring you’re well-prepared to enter the exciting world of blockchain gaming and begin your play-to-earn adventure.

Ready to get started? Follow the detailed steps in the sections below to learn how to play Axie Infinity, from setting up your account to purchasing your first Axies to diving into the gameplay.

How to Get Started With Axie Infinity

Before you can immerse yourself in the world of Axie Infinity, you'll need to set up a few essential digital tools. This process involves creating a wallet, linking it to the game, and setting up your account. Here's how to play Axie Infinity:

Step 1: Begin by downloading and installing MetaMask, a crypto wallet that supports Ethereum (ETH). MetaMask can be used as a browser extension or mobile app. Once installed, follow the setup prompts to create your wallet. Make sure to fund your MetaMask wallet with ETH, as this will be necessary for transactions within Axie Infinity.

Axie Infinity review: MetaMask browser extension.

Step 2: Visit the Axie Infinity website and click “Play Now”. You’ll be guided to create a Ronin Wallet, which is specifically designed for Axie Infinity. This wallet will be used for all in-game transactions. Add the Ronin Wallet as a browser extension and link it to your MetaMask wallet. This connection will allow you to transfer ETH to the Ronin network, which is essential for purchasing Axies.

Axie Infinity review: the "Play Now" button.

Step 3: With your wallets ready, proceed to create your Axie Infinity account. Click “Create Account” on the Axie Infinity website, and follow the prompts to complete your profile setup. After this step, your account will be fully prepared to engage with the Axie Infinity marketplace and other game features.

Axie Infinity review: account setup.

With your account and wallets in place, you're now ready to purchase the Axies that will be your key companions in the game.

How to Purchase Axies

Acquiring Axie Infinity NFT creatures is a significant step in starting your journey. These digital creatures are your primary assets in the game, and selecting the right ones can greatly influence your success. Here’s how to purchase Axies from the marketplace:

Step 1: Navigate to the Axie Infinity marketplace through your account dashboard. Browse the marketplace to explore the available Axies. Each Axie has unique traits and abilities that can affect their performance in battles, so take your time to evaluate your options.

Axie Infinity review: a sample of an NFT on the marketplace.

Step 2: Axies are bought using AXS and SLP tokens, which you can obtain from cryptocurrency exchanges like Bybit or Binance. Before making a purchase, ensure that your Ronin Wallet is sufficiently funded with these tokens. The amount of AXS and SLP you’ll need varies depending on the Axies you choose.

Axie Infinity review: AXS on Bybit spot market.

Step 3: Once you’ve selected the Axies that align with your strategy, proceed to checkout. Confirm your purchase by authorizing the transaction through your Ronin Wallet. After the transaction is completed, your Axies will be added to your account, ready to be used in battles and breeding.

Step 4: After purchasing your Axies, consider familiarizing yourself with their specific traits and abilities. This knowledge will be invaluable as you plan your strategy for upcoming battles.

How to Start Your First Game

Now that you have your Axies, you're ready to embark on your first adventure in Axie Infinity. Here’s how to get started:

Step 1: Begin by downloading the Axie Infinity game client from the official website. Install it on your computer, then open the game and log in using your Axie Infinity account credentials.

Axie Infinity review: install Mavis Hub.

Step 2: After logging in, you'll be presented with two main game modes: Adventure and Arena.

  • Adventure: For those new to the game, starting with Adventure mode is recommended. In this mode, you'll battle against computer-controlled enemies known as Chimeras. This is a great way to learn the basics of the game while earning Smooth Love Potion (SLP), which is crucial for breeding new Axies.
  • Arena: Once you're comfortable with Adventure mode, transition to Arena mode, where you’ll compete against other players in real-time battles. Success in Arena mode not only earns you more SLP and AXS but also boosts your Matchmaking Rating (MMR), unlocking access to more challenging opponents and better rewards.

Step 3: Keep track of your energy levels, as they determine how many battles you can participate in each day. Energy replenishes daily, so plan your gameplay accordingly to maximize your earnings and progress.

By following these steps, you’ll quickly get a handle on the basics of Axie Infinity and be well on your way to mastering the game. Whether you're only looking to learn what is Axie Infinity or how to play the game with the potential to earn, understanding such fundamentals is key to your success.

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Conclusions

Axie Infinity has made a big impact in the world of blockchain gaming. With its strong community, varied gameplay, and smart token system, this Axie Infinity review has highlighted why the game's appeal has attracted many. However, it's important to remember the challenges, like the high costs to start and its past security breach.

To prevent your funds from getting stolen, consider protecting the tokens you've earned in highly secure cold wallets, like Trezor Safe 5, Ledger Nano X, or Trezor Safe 3.

Furthermore, if you're interested in other modes of gamification, like learn-to-earn games that provide you with various rewards for learning (crypto, NFTs, and more), check out BitDegree Missions

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.


Scientific References

1. A. R. Duguleană, C. R. Tănăsescu, M. Duguleană: ‘Emerging Trends in Play-to-Earn (P2E) Games’;

2. A. Singh, K. Click, R. M. Parizi, et al: ‘Sidechain Technologies in Blockchain Networks: An Examination and State-of-the-Art Review’;

3. A. J. Delic, P. H. Delfabbro: 'Profiling the Potential Risks and Benefits of Emerging “Play to Earn” Games: a Qualitative Analysis of Players’ Experiences with Axie Infinity'.

About Article's Experts & Analysts

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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FAQ

What is Axie Infinity?

Axie Infinity is a blockchain-based game where players collect and battle digital pets called Axies. These Axies are unique NFTs, granting players true ownership of their in-game assets. Many user Axie Infinity reviews have highlighted how the game combines traditional gaming elements with cryptocurrency. Furthermore, the proprietary token you earn from the game, AXS, can be traded on Bybit, Binance, and other popular exchanges.

How to play Axie Infinity?

To get started with Axie Infinity, you’ll first need to purchase Axies from the Axie Infinity marketplace. These digital pets are crucial for battling and completing quests in the game. Once you have your Axies, you can engage in various game modes to earn rewards like AXS and SLP tokens, which are tradable on Binance and other exchanges. Also, consult user Axie Infinity reviews for tips on how to begin your gameplay effectively.

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Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

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No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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