Blockchain games, ranging from Axie Infinity to The Sandbox, are becoming increasingly popular. These play-to-earn (P2E) games allow players to have fun and earn, which is why they attract many players and investors.
Although numerous blockchain games are available, none are true AAA games like Illuvium, which is why many investors consider the upcoming NFT game to be one of the most decentralized non-fungible token (NFT) games on the market.
At the same time, experts believe investing in the Illuvium crypto is worthwhile. Looking for how to buy Illuvium? This article explains the ins and outs of this project.
Where to Buy Illuvium ILV
Contents
This section is our top picks of where and how to buy the Illuvium ILV Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- Binance: Largest Crypto Exchange with Low Fees
- Binance US: For Investors in the USA
- Kucoin: Beginner Friendly & Lots of Choice
- Gate: Great Exchange for Newbies & Advanced Users
Visit The Top Pick
Binance: Largest Crypto Exchange
Binance is the biggest cryptocurrency exchange in terms of daily trade volumes. Cryptocurrency investors can enjoy full access to trade over 600 crypto assets, including big movers like Bitcoin, Ethereum, and most of the top cryptos. With a minimum deposit of $10, investors can instantly start investing their crypto of choice.
Besides its large inventory of crypto assets, Binance also offers the lowest trade fees in the market. Binance charges 0.1% on all trades, and there’s an option for this figure to be further discounted by 25% for investors who hold Binance Coin – the exchange’s native token.
Funding your Binance account is seamless and straightforward. The exchange supports several deposit channels, including bank wire transfers, peer-to-peer (P2P) payments, credit/debit cards, and payment processors.
However, unlike eToro – deposits are not always free. For instance, Binance charges customers a standard fee of up to 4.50% on all crypto purchases made with debit/credit cards. Crypto deposits, on the other hand, are free.
This popular crypto exchange features a detailed learning curve and advanced trading tools, making it more suited for well-experienced traders and not beginners.
In terms of security, Binance offers the best security integrations. This broker features two-factor authentication (2FA), whitelisting, and advanced data encryption to protect customer funds and data. Also, Binance utilizes cold storage to store a vast majority of its funds, and the exchange also operates an insurance fund that protects customers in the event of an attack.
Pros
- Lowest trading fees in the market
- High liquidity on most cryptos
- Advanced trading tools
- Large crypto inventory
- Wide range of deposit channels
Cons
- Not beginner-friendly
KuCoin: Beginner Friendly & Lots of Choice
This exchange, one of the oldest and most popular brokers globally, is especially suited for derivatives traders and sophisticated investors. However, everyday investors looking to get into the market can make use of the broker as well.
Based in Seychelles, KuCoin isn’t licensed to operate in the United States. However, investors in other countries can easily access the broker and buy coins. The exchange currently supports over 200 cryptocurrencies and 400 trading pairs, and it has a full suite of features that encompasses savings, staking, and even Initial Exchange Offering (IEO) participation.
This broker works for advanced traders or beginners, the interface takes a little time to get used to but it's fairly intuitive and there are tutorials on the site.
Currently, KuCoin doesn’t accept bank deposits. Instead, the broker allows investors to deposit using cards, swift peer-to-peer (P2P) transfers, and direct crypto transfers. Users can only deposit fiat or crypto, and KuCoin requires a $5 minimum deposit.
Trading fees on KuCoin stand at a flat rate of 0.1%. However, these fees could reduce based on users’ 30-day trading volumes and their ownership of KuCoin’s KCS token.
The broker also takes security very seriously, with bank-level encryption and security infrastructures to keep users’ funds and data safe.
Pros
- Bank-level security infrastructure
- Access to IEOs
- Quick P2P trading system
Cons
- No bank deposit option
Gate.io: Good Platform With Huge Range
Gate was established in 2017 and has maintained a good reputation since then among experienced traders and beginners alike.
They offer one of the largest ranges of crypto coins and tokens available, currently standing at over 1400 different assets to trade.
The site is secure and easy to use with some nice extra protections such as trading passwords, 2 factor authentication and so on.
There is a mobile app available and their web platform is fast and easy to use.
Gate also offers a lot of other options to trade on the platform such as NFTs, P2P trading, Futures, Leveraged tokens and also some earning options.
Pros
- Huge range of crypto to trade
- Simple & Easy to Use
- reasonable trading fees
- Mobile App Available
Cons
- No Fiat Options
- Not Regulated
What Is Illuvium (ILV)?
Illuvium is an upcoming play-to-earn fantasy role-playing battle game built on the Ethereum blockchain. It is generally considered the first AAA (high-budget) game on the Ethereum network. Like many other DeFi blockchain games, Illuvium doubles as a source of entertainment and an income stream for casual gamers and DeFi investors.
The player versus player (PVP) battle game has its own virtual world inhabited by unique creatures called Illuvials.
Players capture these creatures, nurse them, and add them to their collections for subsequent battles against other players. The players can also enter the Illuvium world to explore its vast resources and develop teams of powerful beasts.
These creatures are in the form of Non Fungible Tokens (NFTs), with real value on the Ethereum blockchain. So players can mine and exchange them for value by selling these tokens on NFT marketplaces.
Similarly, players receive free ETH tokens when they successfully capture and heal an Illuvial that will be added to their assemblage for future battles.
Brief History
Illuvium was founded in 2020 by crypto entrepreneur Kieran Warwick and top game designer Aaron Warwick. Today, the DeFi gaming project is managed by a team of over 75 experts in the crypto and DeFi industry.
The Illuvium team seeks to build a decentralised game that combines an open-world role-playing video game (RPG) and an auto battler. In 2021, the project had its public sale, which recorded the sale of 1 million tokens worth $50 each. Over $90m was raised in capital. The open beta was later released, and Illuvium became the first AAA game in the DeFi space.
Illuvium Use Cases
Just like other NFT games, Illuvium has two native tokens: ILV and SILV. These ERC-20 cryptocurrencies power the Illuvium universe. Token owners can use ILV to provide liquidity, participate in governance, and earn rewards in the Illuvium ecosystem.
On the other hand, SILV can be used for in-game purchases like buying new Illuvials, battle items, and collectibles. Users can also trade SILV on external NFT marketplaces.
However, the Illuvium platform requires users to lock their ILV rewards in their wallets for a year, but SILV tokens can be used for various activities and purchases immediately after receiving them.
The best way to earn on Illuvium is to collect high-value Illuvials and similar NFT-backed materials and exchange them for fiat or other cryptocurrencies. Investors can also stake their ILV tokens for rewards in the platform’s staking pool.
How Does the Illuvium Crypto Work?
Illuvium is a blockchain video game that can only be played on a desktop app, but the development team plans to roll out mobile applications before 2023. It is also connected to many DeFi applications, such as decentralised exchanges and yield farms.
Players can visit the game’s virtual world to battle with Illuvials and other players in the fantasy landscape for daily challenges and other prizes. Usually, players collect a wide range of Illuvials with different characteristics during their journey.
Typically, the rarest, most desired, and most useful illuvials have higher intrinsic value. The Illuvial classes include Empath, Fighter, Guardian, Rogue, and Psion. The Affinities are Fire, Water, Nature, Air, and Earth.
An Illuvial gains its strength from multiple victories. By equipping Illuvials with more in-game items, players can build them up and develop their strength.
There are currently more than 100 Illuvials that gamers can collect in the game’s universe. Each Illuvial represents a unique NFT that owners can trade freely on the Illuvium online marketplace, called IlluviDEX. These NFTs can also be transferred and traded on third-party platforms like Binance and OpenSea.
Illuvium holders can also earn more tokens via crypto staking.
Illuvium investors can stake their ILV tokens to provide liquidity to the network’s mining pool. By doing so, they secure rewards with a low risk of losing their digital assets.
To stake ILV tokens in Illuvium’s liquidity mining pool, investors need a MetaMask wallet. Once they connect the MetaMask wallet to the staking pool, they’ll be able to select the number of tokens they wish to stake and the duration of their staking period. Investors’ rewards are equivalent to the number of coins staked, so the more ILV they stake, the better their rewards.
When investors stake their ILV tokens in the liquidity pool, they receive rewards in the form of SILV tokens. The SILV token has the same value as ILV, instantly providing gamers with more purchasing power and improving their chances of winning during battles – since they can use the SILV coins to strengthen their Illuvials.
In other words, the in-game currency can be used to pay for items on IlluviDEX and tour around particular sections of the Illuvium landscape.
Is Illuvium Crypto a Good Investment?
Illuvium has experienced significant growth since it was founded in 2020. The P2E game token has many use cases, making it desirable for many gamers and crypto investors, who can potentially earn more as its value increases. The project is still upcoming, but it has a team of experts striving to make it one of the best NFT game cryptos in the market.
Because of its play-to-earn feature and solid project history, the AAA NFT game attracts more players and investors, who can earn by collecting and selling various NFT materials won from the game.
In other words, as the game attracts more users over time, there’s a chance for it to become more valuable. Going by this, it’s safe to say Illuvium is a good investment.
However, earning from an Illuvium crypto investment is not so straightforward because the game requires users to have a high-end computer with a great video card to play. For this reason, the number of potential players may drop.
But Illuvium has a maximum supply of 10 million tokens, and 3 million tokens (equivalent to 30% of the total supply) are allocated to its yield farming program.
These reserved tokens are set aside to be distributed among the network’s liquidity providers. The platform also has an impressive number of players and an attractive reward system to encourage existing and potential players and investors.
At the time of writing, Illuvium is valued at $77.50, a significant drop from its $133.37 peak in July 2022. But with its all-time high (ATH) of $2868.95 in May 2021 and a price prediction of $129.63 by December 2022, the coin is available on the cheap for investors to take advantage of.
How to Buy Illuvium Crypto on Binance
Binance is one of the world’s largest digital exchanges for buying and selling cryptocurrencies. Investors considering how to buy Illuvium crypto can utilize Binance. They can buy Illuvium at a low fee by following this simple step-by-step guide:
STEP 1: Register for a Free Account
The first thing to do is register for an account on the Binance exchange. To do this, simply go to the Binance website, download the Binance mobile app, and click on the “Register” button. Investors will be redirected to the account creation page, where they can sign up with their phone numbers, email addresses, Apple accounts, or Google accounts.
Ensure the provision of correct information when signing up, as the platform requires investors to complete a know-your-customer (KYC) and anti-money laundering (AML) verification process. Investors will also need to submit an ID.
STEP 2: Verify Your Account
As stated earlier, Binance has a mandatory KYC and AML process. So as new users, investors will need to verify their profiles by confirming their email addresses, phone numbers, or both. They’ll also need to submit a valid ID document that has the exact personal details as the information provided during the registration stage.
STEP 3: Deposit Funds
After verifying the newly-created account, the next step is to fund the attached Binance wallet with the equivalent amount of ILV to be purchased. Investors can use a live crypto exchange calculator or converter to determine the exact amount they need to deposit.
Binance allows users to deposit funds through their Visacard or MasterCard, digital wallets like Skrill and Neteller, and bank transfers.
STEP 4: Buy Illuvium (ILV) Crypto
After funding the wallet, it’s now time to buy ILV tokens. Move the mouse and click on the “Trade” tab on the Binance website or mobile app. Then, select a trading view between Classic and Advanced. We recommend that beginner crypto investors use the classic view.
Next, check the available trading pairs and search for ILV using the search toggle. Then, choose a trading pair among ILV/USDT, ILV/BNB, ILV/BTC, and ILV/BUSD. Finally, input the amount to be purchased and click on the “Buy” order type.
Conclusion
In the DeFi ecosystem, there are many crypto NFT games, but Illuvium stands out for many reasons. One reason is that gamers can easily play, earn NFTs and stake their assets.
Although it was founded in 2020 and is considered an upcoming blockchain game, Illuvium has grown to become one of the largest blockchain games due to its interesting project, solid development team, and financial backing.
In addition, the game has high-quality structures and features, making it one of the most advanced NFT titles in 2022. And its reward feature, as well as the valuable ILV and SILV game tokens, have piqued the interest of both gamers and investors. As a result, this guide has explored how to buy Illuvium for investors and gamers who would like to capitalize on the project’s success.
