How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase SLP on BYDFi. We'll guide you through it
Choose how to purchase SLP on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (SLP). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store SLP in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your SLP to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy SLP on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive SLP
Trade
Answers
What Is the Difference Between SLP and AXS?
Both SLP and AXS are native tokens of the Axie Infinity game but serve very different purposes. Smooth Love Potion (SLP) is the in-game currency and utility token earned by playing the game and can be spent on buying and building Axies.
On the other hand, Axie Infinity Shards (AXS) serve as the governance token of the game. Holders of the AXS token enjoy voting rights within Axie Infinity and can also stake them to receive rewards via revenues from the games community treasury.
However, to really succeed in the game, you need to hold both SLP and AXS. Both ERC-20 tokens are required to breed new Axies and increase your chances of earning within the game.
One of the most significant differences between the tokens lies in their circulating supply and total supply. SLP has no fixed total supply (uncapped) and remains in full circulation, meaning that 100% of the total supply of the crypto is up for grabs in the games ecosystem. Meanwhile, the AXS crypto has a fixed total supply of 270 million, and less than a quarter of this is currently in circulation as of June 2022.
Is Smooth Love Potion a Good Investment?
As the utility token of one of the most played blockchain games in the world, the Smooth Love Potion enjoys the status of being a leading GameFi token worth investing in. As more users sign up to play Axie Infinity, the SLP token price and market cap could experience a boost in the future, making it a worthy digital asset to invest in.
As the Axie Infinity ecosystem evolves and rolls out new use cases for the Smooth Love Potion, the demand for the cryptocurrency could climb even higher, driving up the SLP value. In such an event, the SLP price statistics could enjoy further support.
The Smooth Love Potion price, trading volume, and live market cap can also register an uptick amid rising market demand for cryptocurrencies or Play-to-Earn (P2E) experiences. These events could drive more investors into crypto assets like the SLP coin and drive up the price of Smooth Love Potion crypto, making it an attractive investment.
Can Smooth Love Potion Reach $1?
As of March 2023, the all-time high price of Smooth Love Potion stands at $0.4191, well under the $1 mark. Meanwhile, the SLP price trades well below this level at the time of writing.
One of the biggest reasons why the price of SLP cannot reach $1 is the tokens extremely high circulating supply, which stands at over 42 billion in March 2023. At $1 per SLP, this could take the Smooth Love Potion market cap to over $42 billion - an extremely unrealistic valuation for the digital asset.
While positive market sentiment, higher demand for the Smooth Love Potion token, and an increase in the number of gamers playing Axie Infinity can support the SLP token price, it is highly unlikely to cross the $1 level. For this to happen, the Axie Infinity developers will have to burn tokens and significantly bring down the circulating supply or SLP in the market.
Who Created Smooth Love Potion (SLP)?
Axie Infinity, the game which uses the SLP crypto, is the brainchild of Trung Nguyen, who now serves as the CEO of Sky Mavis. This company oversees the development of the game and its cryptocurrencies. The game was founded in November 2017 when work on its development started, followed by the release of its whitepaper in March 2018.
The first round of sales of Axie NFTs took place in April 2018, helping the team raise 900 ETH in funds. Following the pre-sale round, the Axie land sale took place in January 2019, where NFTs in the form of land within the Axie Infinity ecosystem was put up for sale and helped raise 3,200 ETH.
The company Sky Mavis was officially established in April 2019, with its headquarters in Singapore. The seed funding round for the game in November 2019 helped the company raise $1.5 million.
The SLP crypto was launched in December 2019 and went on to get listed in the Binance Innovation Zone, along with the release of the alpha version of the game within the community. The next significant event in the roadmap occurred in June 2020 when the Ronin blockchain to host the Axie Infinity game was announced, followed by its mainnet launch in February 2021.
How to Earn Smooth Love Potion (SLP) in Axie Infinity
There are several ways to increase your Smooth Love Potion holdings, including:
Playing Battles in Arena Mode
The PvP Arena mode within the Axie Infinity game lets you battle your Axies against those of other players and offers a lucrative way to earn SLP in the game. Your earning potential depends on your MMR (Match Making Ranking) rate in this mode.
An MMR above 2500 can let you earn as much as 14 SLP in the Arena mode at a time. However, a lower MMR of 0-999 earns you only 1 SLP on victory.
Axie Infinity used to allow players to earn SLP by completing daily quests or previously playing in the single-player mode or Adventure mode. However, the games developers removed these two options in the Season 20 update to prevent hyperinflation as they caused an oversupply of SLP in the market, bringing the tokens value down.
Lend Liquidity to Earn Smooth Love Potion
In addition to earning SLP tokens by playing Axie Infinity, you can also purchase SLP on leading crypto exchanges. You can then choose to grow your SLP holdings via options such as lending to the liquidity pool on platforms such as BYDFi.
