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How to buy Illuvium Today
Quick Glimpse on Illuvium Investment
On decentralized exchanges, some cryptocurrencies, such as Illuvium, can only be acquired with another cryptocurrency. To purchase Illuvium, first purchase Ethereum (ETH) and then use ETH to purchase Illuvium. And you’ll need what’s known as a self-custody wallet to do so. For citizens of the United States, here’s how to do it with Coinbase Wallet.
- Download Coinbase Wallet
- Choose a Coinbase Wallet username
- Securely store your recovery phrase
- Understand and plan for Ethereum network fees
- Buy and transfer ETH to Coinbase Wallet
- Use your ETH to buy Illuvium in the trade tab
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Everything you need to know about investing Illuvium
Launched in the first quarter of 2022, Illuvium is the latest currency in the crypto world. It is a currency used in the Illuvium blockchain game, which is yet to be released. The coin was released in 2020 and has reached an all-time high of $1,860.95 and then receded to levels close to $800. It has a market cap of $55,04,59,119, giving it a ranking of 232.
If you plan to buy Illuvium, here is a background on cryptocurrency. It is earned as you play a blockchain game scheduled to launch in 2022. The ticker symbol for the currency is IVL, and players can win them in the different game achievements.
How to start investing in Illuvium?
First I want to start off with why would someone want to invest in Illuvium? Well, I’m going to give you a few different benefits to staking or buying illuvium.
The reason is they have a variable lock option and a flexible option. And I’m going to break down what each of these means, you can select to lock your Illuvium ILV with the variable lock option from one to 52 weeks. So you can choose how long you want to lock it.
And that’s the benefit behind locking it flexibly, on the other hand, means you can sell your ILV at any time you have no time period, you have to wait not even a week if you decide you want to sell it. Now, if you do select the locked option, you will not have access to your tokens until the time period has expired that you select. If you selected four weeks, you would not be able to access your tokens for four weeks, no matter what the price does, they are going to be locked away. staked essentially, because that is what you’re doing is staking them. But when you lock them away, they do compensate with an additional ILV.
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Now for my second reason to invest in Illuvium, which is my favorite revenue distribution, if you have ILV state Illuvium is literally going to give you extra ILV. What I mean by this is, your Illuvium does not compensate for this revenue distribution. This is a separate way to earn more Illuvium.
How does this work exactly? Well, I’m going to tell you how, since you believe in the company, so much, the company is actually going to give back to you they have something called a vault, this vault actually gets 5% of every transaction that happens in Illuvium. So 5% of every transaction goes to this vault, which is basically a giant safe. And whenever this vault fills up, it kind of happens randomly. They think about every week or two weeks, this vault is going to take all the money that it’s collected, which will be Ethereum. And it’s going to go and buy all the Illuvium it can afford.
And what is it going to do with this ILV, Distribute 100% of it to all the stakers. Now the amount of tokens you will receive will depend on the amount of tokens that are staked invested in the weight of them. And I’m going to go into investing in just a little bit.
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What to consider when buying Illuvium
Think of illuvium as a game company, they’re going to be like EA, they’re going to be a company that makes multiple games, they’ve already come out and said this, they have other games plant, you’re going to earn revenue from Game one, Game Two, game three, game for game five, how many games are they gonna make? Who knows, but you’re gonna get revenue distribution from all of them.
So my fourth reason to invest in Illuvium is the staking benefits last until 2024. So they’re not going anywhere anytime soon. But when they do expire in 2024, the goal is for revenue distribution to take over. Essentially, the company wants you to always have a way to earn extra ILV. So the tokens you stake today could sit in there for years, and you can reap the benefits. So if you stay get 40%, two weeks from now, it’s gonna be about 37%, maybe a little more, maybe a little less.
Now, this next section of the article is going to kind of explain probably some questions you have about staking have questions I’ve heard about investing in Illuivium.
So let’s say you stake one Illuvium token at 50% APY after three months, you would have point one-two ILV in rewards. Now there are two options for claiming rewards. One way is to claim it as which is the in-game currency. And it could be used immediately. Or if you choose to claim it as ILV, it has to go through a 12 month vesting period, basically, you’re going to be locking away your reward for an additional year. But this is where it rewards compound interest, you are going to earn interest during this time. And then at the end of the 12 months, you can claim it as Illuvium using the unrealistic 50% APY example.
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Now, why wouldn’t somebody want to stake Illuivium tokens?
Everybody just stakes their tokens. Does it seem like you know free money? Well, there are a few things I want to inform you about staking Illuivium.
- If you choose to lock away your tokens, you will not have access to them. Which means if the price spikes to $10,000, and you have them locked away, you cannot sell. Now, if you choose the flexible option, this does not apply to you. But do not lock away your tokens if you think you might need the money in the future. Or if you’re someone who would want to sell if the price explodes. So think of locking away your tokens at of a investor mindset, not a trader mindset.
- Now this is my next reason why somebody shouldn’t stick there. ILV is if you have a small amount of gas fees are extremely high right now. But there are certain times like Saturday and Sunday, early morning, basically midnight to 5am that are the best times to stake because the gas fees are the lowest typically through these times, what I wouldn’t suggest doing is staking $500 worth of ILV paying $100 gas fee, you would be better off investing that additional $100 into ILV having a total of 600. And you would have more ILV doing it that way then staking now.
- If you’re dead set on staking because of the benefits above, you have two options.
one, wait until you have more ILV to make it worthwhile, or to invest what you have.
4. But make sure you get a very low gas fee sub $50 USD is amazing right now, but at the end of the day, do the math and do what’s best for you think about the fee that you will be paying in the amount of IlV that you’re actually be receiving to compensate for that fee. That is my little tip to you.
5. Now finally, I wouldn’t stake you ILV. If you don’t like the ways you can claim it. As I said before, there are two options you have the 12 month vesting period where you have to wait to claim it as ILV. Or you can immediately claim it and use it as sILV, but it’s only going to be good for the in-game currency. So if you don’t like either of those options, you probably shouldn’t be staking.
Here are the top reasons to purchase Illuvium in 2022.
Limited Supply
The maximum supply of the Illuvium coins is ten million. The pool is pretty low, given that there are about 106 million crypto users across the globe. The current circulation is already at 6,42,892 ILV coins. Due to the limited supply and the prospect of increased demand, once the game is launched, the prices are likely to skyrocket as the game launch date approaches. Therefore, now is an excellent time to buy Illuvium coins.
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Roll play games are the most popular as they allow you to learn new capabilities and discover new tools and equipment. These games verge on the fine line between addiction and quickly giving up. The role play gets you so involved that you do not want to stop. The game is designed so that you are nudged in the right direction through journals, icons, and quest markers, making the need to talk to anyone obsolete.
The game is a blend of PVP battle games and open-world exploration allowing players to do either. Illuvial creatures exist in the game world and can be captured and used to battle opponents.
Over One Hundred Illuvial
The game has more than one hundred Illuvials that have a variety of affinities, abilities, and classes. These Illuvials are the game’s non-fungible tokens (NFTs) traded on external exchanges and IlluviDEX decentralized exchanges. Once you capture an Illuvial, it is part of your collection, and you can use it to fight your competitors.
Players Rewarded With ILV Tokens
The game allows players to collect NFT pieces for battles, trade, and in-game exchanges for real money. The players are rewarded with ILV tokens, enabling them to participate in the DAO (decentralized autonomous organization). The game also uses a synthetic ILV sILV, which can be used for various in-game functions. It cannot be used to trade in Illuvium. You can purchase Illuvium by ordering NFTs throughout the competition.
Players Can Participant in Community-Based Governance
Illuvium is being mined even before the game is launched to:
- Distribute the ILV tokens across a wider Illuvium community.
- Provide incentives to encourage new participants.
- Ensure more liquidity and transparency.
The idea is that a larger community has better chances of decentralized governance and self-regulation. It discourages unethical practices and manipulations in the game.
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1. Open an account on an exchange that supports ILV.
2. Deposit funds into your account.
3. Complete your Illuvium purchase and then find the best wallet to store ILV.
The first Illuvium land auction is coming! As of now, we expect the first 20,000 plots of Illuvium land to be sold early to mid-January. Keep eye on our platform, here you will get real-time updates on buying land on Illuvium.
Peer-To-Peer Trading
Transactions are instant and secure through the Ethereum blockchain. The game is integrated with Immutable X allowing zero gas fees when trading with peers. It will enable you to store your Illuvials on Shards with a sleek display. You can also compare statistics with your friends and flaunt your latest new collection of Illuvial.
The impending launch of Illuvium’s role-play game has created a lot of hype about crypto. Once the game is released, the currency will skyrocket to new highs. The coin is currently down from its life-high, making it a great time to buy Illuvium to maximize the return of your crypto portfolio.
Well, guys, I hope this article helped you learn the benefits of staking or investing and if it’s right for you or not. And I hope I was able to solve some of you guys’ issues with understanding the terminology with staking. If I did help you with staking please donate us few amount so we can run our this platform smoothly.
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