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Buy Injective (INJ) in UK With GBP | CoinJar

Injective

INJ

£0.000GBP

Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.

INJ price calculator

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INJ

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Overview

#53

Popularity

Derivatives

Asset type

2021

Active since

What is Injective?

Buy Injective Token (INJ): Injective Protocol is a decentralised layer-2 exchange protocol built on Ethereum. It aims to provide efficient, protected, and permissionless trading for various assets, including cryptocurrencies, synthetic assets, and more. The Injective Token (INJ) is the native utility token of the Injective Protocol ecosystem.

There are some very interesting projects on Injective. Most are financial like DeFi or crypto exchanges, but some games and other things are starting to appear. For example, XNinja is a SocialFi game that plays out on X (formerly Twitter).

Cool stuff on Injective

[xNinja.Tech](### xNinja.Tech) is where players become a crypto ninja.

xNinja.Tech is the first SocialFi 2.0 dApp built on the Injective Protocol. SocialFi combines social media (like Twitter) with crypto. It’s tweeting and earning rewards at the same time.

When players interact with tweets on their Twitter feed (like, retweet, or reply), they unlock treasure chests on xNinja.Tech. Inside these chests, they find crypto tokens, ninja food, and other valuable items.

xNinja.Tech has created a community of crypto enthusiasts as they follow the journey of the elemental ninjas (Earth, Fire, Water, Air, and Lightning).

Talis Art

Talis Art is an NFT (non-fungible token) marketplace that empowers artists and bridges the gap between physical and digital art within the Injective ecosystem.

Talis serves as a virtual hub for NFT exchanges. Artists can create, sell, and buy NFTs on this platform. Things people seem to like about it are:

Launchpad Sales: Where new NFT collections are introduced.

Peer-to-Peer Trades: Direct exchanges between users.

Secondary Market Acquisitions: Purchasing NFTs from other users.

Floor Sweeping: Acquiring NFTs at the most competitive price.

ENJ and developers

Injective is a special type of blockchain designed specifically for the financial industry. It’s a digital platform where developers can build cool stuff related to money, trading, and other financial activities. Here’s why developers like it:

Speed: For financial apps, speed matters a lot, and Injective delivers.

Web3 Modules: These are like building blocks for creating different types of financial apps. You can use them to build apps for trading, lending, saving, and more. It’s like having a toolbox with all the tools you need to build your idea.

Interoperability: Injective can talk to other blockchains, like Ethereum, Cosmos, and Solana. This makes it convenient for developers to connect their apps to other cool stuff on the internet.

Why do investors buy INJ?

Utility token

INJ serves multiple purposes within the Injective ecosystem. Holders can use it for governance, staking, and participating in network upgrades.

Staking rewards

Users who stake their INJ tokens can earn rewards by participating in network validation and governance. Staking helps protect the network and ensures its smooth operation.

Trading fee discounts

INJ holders receive discounts on trading fees when using the Injective exchange. This encourages adoption and liquidity on the platform.

Decentralised governance

INJ holders can propose and vote on protocol changes, making it a truly community-driven project.

Why Buy INJ?

Investment opportunity

Some people buy INJ as an investment, hoping that its value will appreciate over time. As the Injective ecosystem grows, demand for the token may increase.

Staking rewards

Staking INJ allows users to earn additional tokens as rewards. This passive income attracts investors looking for yield.

Participation in governance

Those interested in shaping the future of Injective Protocol buy INJ to participate in governance decisions. Their votes influence protocol upgrades and changes.

Access to platform features

INJ holders benefit from reduced trading fees, giving them an advantage when using the Injective exchange.

Conclusion: Why Investors buy Injective Token

Injective Token (INJ) plays a crucial role in the Injective Protocol ecosystem. Whether you’re an investor, trader, or DeFi enthusiast, you may find the token a noteworthy proposition.

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Frequently asked questions

What is INJ Token?

INJ is the native utility token of the Injective Protocol. It serves various purposes within the ecosystem, including governance, staking, and participation in network upgrades.

Standard Risk Warning: The above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. The article is provided for general information and educational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar's digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767). In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.

The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. Past performance is not an indication of future results. Remember: Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://www.coinjar.com/uk/risk-summary. UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour "cooling off" period, before their account is active, due to local regulations. If you use a credit card to buy cryptocurrency, you would be putting borrowed money at a risk of loss. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.

Specific risks associated with DeFi tokens Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens. Regulatory risk: DeFi operates in a decentralised manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens. Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols. Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

Specific risks associated with meme coins: 'Meme coins' (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends. Meme coins carry the following risks: • Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid and unpredictable price fluctuations within short periods. The value of meme coins can be influenced by social media trends, celebrity endorsements, and other factors unrelated to traditional investment fundamentals. • Lack of utility: Meme coins often lack intrinsic value or utility, being primarily driven by community interest, online trends, and speculative trading. • Market manipulation: Meme coins may be susceptible to increased risk of market manipulation including 'pump-and-dump' schemes, where the price is artificially inflated followed by a sudden crash. • Lack of transparency: Meme coins may have limited available information about their development teams, goals, and financials. This lack of transparency can make it challenging to assess the credibility and potential of a meme coin accurately. • Emotional investing: Meme coins often garner strong emotional reactions from investors, leading to impulsive decisions. Emotional trading activity can amplify losses.

Specific risks associated with stablecoins: There is a risk that any particular stablecoin may not hold their value as against any fiat currency; or may not hold their value as against any other asset. Stablecoins carry the following risks: · Depegging events: Depegging events may occur with stablecoins that fail to maintain adequate controls and risk mitigants. A depegging event is when the value of the stablecoin no longer matches the value of the underlying asset. This could result in a loss of some or all of your investment. • Counterparty risk: Counterparty risk arises when an asset is backed by collateral, involving a third party maintaining the collateral, which introduces risk if the party becomes insolvent or fails to maintain it. • Redemption risk: Redemption risk refers to the possibility that an asset's ability to be redeemed for underlying collateral may not be as anticipated during market fluctuations or operational issues. • Collateral risk: Collateral risk refers to the possibility of the collateral's value declining or becoming volatile, potentially impacting the asset's stability, particularly when it is another crypto-asset. • Exchange rate fluctuations: Stablecoins, often denominated in US Dollars, expose investors to fluctuations in the USD:GBP exchange rate. • Algorithmic risk: Algorithm risk refers to the possibility of an asset's stability being compromised due to unexpected failure or behaviour of the underlying algorithm, potentially leading to loss of value.

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