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Injective Protocol (INJ) is the first Layer-2 decentralized cryptocurrency exchange in the crypto sector. According to the team’s announcement, it utilizes the Cosmos SDK module and also leverages the benefits of the Ethereum Virtual Machine (EVM) through the advantages offered by the Cosmos network. This means that this decentralized cryptocurrency exchange can be used on both the Cosmos and Ethereum networks, providing significant user potential for the exchange.
What is Injective Protocol (INJ)?
The key distinction of the INJ platform and its cryptocurrency compared to its competitors is the facilitation of decentralized derivatives trading. Injective, which operates on a Proof-of-Stake consensus model, offers users the opportunity to trade without any transaction fees, unlike on the Ethereum network. Additionally, thanks to the advantages of the Cosmos network, cross-network transfers are also possible.
INJ Coin Review
INJ Coin ranks 127th among the top 150 cryptocurrencies by total market value. INJ has seen an 18% increase in the last 24 hours and, although there is a total supply of 100,000,000 INJ, only 15,123,242 INJ are currently in circulation. The total market value of INJ Coin is approximately 98 million dollars.
How to Buy Injective Protocol Coin?
How exactly can one purchase INJ Coin? Binance emerges as the most popular platform for users in this regard, offering significant liquidity and security.
- To buy INJ Coin, firstly deposit a USD balance into the exchange or purchase a suitable cryptocurrency instead. Begin by going to the Binance homepage, click on the “Buy Crypto” option in the top left corner, and then the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to transact with, and mark Bitcoin, i.e., BTC, in the Coin section.
- After purchasing BTC, again preview the “Buy-Sell” option in the top left corner and click on the “Classic” tab.
- In the opened section, select the BTC tab from the top right, enter INJ in the search button, and choose the opened INJ/BTC pair below.
- Then go to the “BUY INJ” tab in the middle, enter the amount you want to buy.
- Enter the desired amount and confirm the transaction to complete the purchase of INJ Coin.
