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.

  1. 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.
  2. 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.
  3. Buy Injective Protocol.
    Complete your Injective Protocol purchase and then find the best wallet to store INJ.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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 Protocol

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.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

270
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

297
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 250 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

262
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

169
cryptocurrencies

Finder Exclusive: New members get $10 bonus after first trade. T&Cs apply.
Buy 150+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

266
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Gemini Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, CAD, EUR, GBP, SGD, HKD

40
cryptocurrencies

Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, SWIFT, Wire transfer
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+ more

219
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
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Injective Protocol at a glance

Information last updated June 23, 2021 05:06 UTC.
Coin symbolINJ
Total INJ supply100,000,000
Circulating INJ28,888,888
Current priceUS$6.3
All time highUS$24.89
All time high dateApril 30, 2021
Notable team membersEric Chen, Albert Chon
PartnershipsAllianceBlock, TomoChain, Ramp DeFi, SuperFarm, Terra, Mirror Protocol, Band Protocol, WOOTRADE
IndustryDecentralised exchange
Token usesGovernance, exchange fees, collateral, staking
NetworkEthereum, Cosmos

Injective Protocol price performance over time

Historical prices compared with the price of US$6.3.

1 hour -1.13%
24 hours -0.37%
7 days -26.49%
14 days -23.97%
30 days -18.45%
60 days -63.51%
200 days 299.63%
1 yearN/A

How to sell Injective Protocol

You can cash out your INJ with the same exchange you bought it through:

  1. 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.
  2. Place a sell order.
    Choose the amount of INJ you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Injective Protocol.

What to consider when buying Injective Protocol

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.

Disclaimer: Cryptocurrencies, including Injective Protocol, 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 Protocol or any other cryptocurrency discussed.

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