How to buy Injective Protocol (INJ) in Australia
A beginner's guide to buying and selling INJ in Australia.
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How to buy Injective Protocol
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Injective Protocol.
- Open an account on an exchange that supports INJ.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Injective Protocol.
- Buy Injective Protocol.
Complete your Injective Protocol purchase and then find the best wallet to store INJ.
What is Injective Protocol?
Injective Protocol is a decentralised exchange that allows users to trade on any derivative market of their own choosing without paying gas fees (using Layer-2 technology). Using Injective Protocol, individuals can trade on any market they choose including futures, perpetual swaps and spot trading. Cryptocurrency exchange Binance is Injective Protocol’s biggest investor and Injective was the first Binance Labs-incubated project to debut on the Binance Launchpad (public sale) platform. The INJ token is the native coin for the Injective Protocol trading platform. You can use INJ tokens to propose and vote on aspects of Injective Protocol, for example the futures protocol, exchange parameters and protocol upgrades. You can also stake INJ tokens and use INJ tokens as collateral for accessing Injective’s derivatives markets. There are also plans to allow liquidity mining of INJ tokens.
Injective Protocol (INJ) is the 177th largest cryptocurrency in the world by market cap, valued at $181,713,534. The current price of Injective Protocol is $6.3, which is -0.373% lower than yesterday. Prices have ranged between $6.37 and $4.95 over the past 24 hours. All prices are listed in US dollars and accurate as of June 23, 2021 05:06 UTC.
Where to buy Injective ProtocolFind 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.
Injective Protocol at a glance
|Total INJ supply||100,000,000|
|All time high||US$24.89|
|All time high date||April 30, 2021|
|Notable team members||Eric Chen, Albert Chon|
|Partnerships||AllianceBlock, TomoChain, Ramp DeFi, SuperFarm, Terra, Mirror Protocol, Band Protocol, WOOTRADE|
|Token uses||Governance, exchange fees, collateral, staking|
Injective Protocol price performance over time
How to sell Injective Protocol
You can cash out your INJ with the same exchange you bought it through:
- Sign in to the exchange you have INJ on.
If you store your Injective Protocol in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of INJ you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Injective Protocol.
What to consider when buying Injective ProtocolInvesting 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.
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