How To Buy Smooth Love Potion (SLP)?

A common question you often see on social media from crypto beginners is “Where can I buy Smooth Love Potion?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.

Step 1: Create an account on an exchange that supports Smooth Love Potion (SLP)

First, you will need to open an account on a cryptocurrency exchange that supports Smooth Love Potion (SLP).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Smooth Love Potion (SLP) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Smooth Love Potion (SLP)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Smooth Love Potion (SLP) or Smooth Love Potion (SLP) trading pairs. Look for the section that will allow you to buy Smooth Love Potion (SLP), and enter the amount of the cryptocurrency that you want to spend for Smooth Love Potion (SLP) or the amount of fiat currency that you want to spend towards buying Smooth Love Potion (SLP). The exchange will then calculate the equivalent amount of Smooth Love Potion (SLP) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Smooth Love Potion (SLP) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.

Simplecryptoguide.com

What Is Smooth Love Potion (SLP)?

Smooth Love Potion (SLP) is an ERC-20 gaming token in the popular NFT game Axie Infinity. It has an unlimited supply and is the primary source of income for Axie Infinity gamers. Within the Axie Infinity ecosystem, players can use SLP to breed digital pets called Axies, which can then be sold on the marketplace as NFTs to other players. SLP can also be traded on crypto exchanges like Binance. It’s fairly unusual for in-game currency to be listed on exchanges like SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario.

To earn SLP, players can complete daily quests, battle other players in the Arena (PvP), or fight in the Adventure mode (PvE). There is a limited amount of SLP players can earn per day, and the SLP used for breeding will be burned once a new Axie is created. It can take time to accrue SLP through the game, and a player may need to win 15 competitions in order to gain enough tokens to perform their first breed. Purchasing SLP on the open market is a way for gamers to get a headstart.

How does Smooth Love Potion (SLP) work?

As mentioned, Smooth Love Potion (SLP) is the native cryptocurrency of the Axie Infinity game.
Previously known as “Small Love Potion”, SLP is an ERC-20 gaming token with an unlimited supply.

SLP can be earned through completing daily quests or engaging in battles or adventures in the game. After attaining a certain amount of SLP coins, gamers can start to breed their unique Axies. The cost for breeding each Axie differs, as it depends on the breed counts of the pre-existing Axies (the parents). Axies can breed a maximum of 7 times each. As the breed count gets higher, more SLP is required.

SLP has a burning mechanism. After each Axie breeding, the SLP tokens used will be burned forever. As players can only farm a limited amount of SLP in the game per day, the token demand is expected to grow as players try to get ahead of the breeding game. The SLP price varies according to the forces of supply and demand.

Within the Axie Infinity metaverse, SLP is more than just a game currency for breeding new digital pets. It is also a reward token for players when they reach new levels or win fights with their Axies. On the other hand, holders can speculate on the SLP price and trade it on crypto exchanges like Binance. SLP is also available on the Uniswap liquidity pools. SLP is now part of the play-to-earn movement that lets players earn an income by playing Axie Infinity.

How to earn SLP by playing Axie Infinity?

SLP can be obtained in-game in the following ways:

Completing daily quests – the daily quest gives an extra 25 SLP to players that perform the daily check-in, complete 10 adventure mode levels, and win 5 arena matches.

Competing with players in Arena matches (PvP) – Arena (PvP) is the main source of SLP rewards in the game. The PvP Arena matches players against each other based on their rankings (MMR). Every Arena match will use one energy, and every win will provide an SLP reward, according to the player’s MMR. The higher your ranking, the more SLP you get per win. Note that you need an MMR above 800 to get SLP rewards. If the energy is depleted, players can still play PvP to raise their MMR, but they won’t get SLP rewards.

Battling monsters in the Adventure mode (PvE) – Adventure is a single-player mode in the game. It consists of 36 levels with increasing difficulty and SLP rewards. You can earn up to 50 SLP daily from adventures. It doesn’t require energy to start in adventure mode, you’ll only need them if you wish to gain experience points for your Axies.

Compared to PvP, PvE requires less time and effort to farm SLP. However, you can only receive one-time SLP rewards for each adventure level. ou can play the same level again to fulfill the daily quest SLP reward requirement, but you won’t receive any extra SLP rewards. To earn more SLP, you can also defeat the bosses in certain levels for one-time SLP rewards.

Who Are the Founders of Smooth Love Potion?

A better question is this: who founded Axie Infinity? The CEO of the company behind the game is Trung Nguyen, who actually left his role as a software developer in the U.S. in order to focus on the project.

According to Nguyen, he was motivated to explore blockchain’s potential in gaming because he was frustrated at how many players don’t truly own valuable assets in popular titles. In an interview with Blockchain Gamer, he said the Ethereum platform had given him the ultimate opportunity to create his “dream game.”

Nguyen says that the breeding process, for which SLP is used, is designed to be familiar to those who have played other collectible games such as CryptoKitties.

Smooth Love Potion development updates in 2023

In 2023, Smooth Love Potion (SLP), the utility token used in the Axie Infinity game, has experienced a range of developments and fluctuations in its market performance. Here are some key points regarding SLP’s progress and predictions for the future:

• Token Utility and Supply: SLP serves as an in-game utility token within Axie Infinity. It doesn’t have a supply cap, making it an unlimited resource. However, the token is burned during the breeding of in-game monsters, called Axies. As more gamers join the ecosystem, it’s expected that the token supply of SLP will reach an equilibrium​​.

• Market Performance: The market cap of SLP reached its peak in September 2021 but has been in a bearish trend since. The token experienced significant volatility, indicating its usage as more of a daily-use token rather than an investment asset​​.

• Technical Analysis and Price Predictions:

  • 2023: SLP is predicted to reach a peak price of $0.0094, with an average expected price around $0.0082. In a bearish scenario, the price could drop as low as $0.0048​​.
  • 2025: The token is expected to rise to $0.006 and could potentially reach $0.042 by 2030​​.
  • 2030: SLP’s price might increase significantly, possibly attaining a value of around $0.020502​​.

• On-Chain Metrics and Future Price: The on-chain metrics, such as token distribution and active addresses, indicate a steady level of token holding among top addresses and a peak in active addresses. This suggests that people might be holding SLP for gaming advantages within the Axie Infinity ecosystem​​.

• Long-term Value Predictions: Despite the token’s utility and well-designed tokenomics, SLP has faced challenges due to a bearish trend post-July 2021. This trend is not expected to change significantly in the short term. However, long-term forecasts suggest gradual growth, with no expectation of the token price rising to $1 within the next few years​​.

SLP’s future in the market and within the Axie Infinity ecosystem seems to be tied closely to the game’s popularity and the overall performance of the gaming and crypto markets. As with any cryptocurrency investment, it’s essential to do thorough research and consider the latest trends and expert opinions before making any investment decisions.

Official website: https://axieinfinity.com/

Best cryptocurrency wallet for Smooth Love Potion (SLP)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Smooth Love Potion (SLP)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

 

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).