CoinGecko SLP to PHP
Introduction
Cryptocurrency has undoubtedly been the most popular buzzword of recent years. As the popularity of decentralized digital currencies skyrocketed, several forms of cryptocurrencies have cropped up that use blockchain technology to varying degrees.
Smooth Love Potion is a digital cryptocurrency of the Axie Infinity gaming metaverse that enables users to find and breed non-fungible tokens known as Axies. Over the years, the demand for SLP tokens has grown to such an extent that they are now being traded on cryptocurrency exchange apps such as Uniswap and Binance.
In this article, we will discuss the role of SLP in the Axie Infinity game, and what it means for the wider cryptocurrency ecosystem. We will also explore the worth of SLPs and the steps to convert SLP to PHP (Philippine Peso).
What Is A Smooth Love Potion Token?
SLP tokens are ERC-20 tokens that act as the in-game digital currency of the popular Axie Infinity gaming metaverse. The blockchain-based game allows players to collect unique digital pets called Axies which can be bred, sold or used for battle against other players in the metaverse.
Smooth Love Potion crypto tokens are used to aid the breeding of these Axies, which are representative of NFTs. SLPs can be earned by exploring the metaverse and battling against other players. However, they can also be traded on well-known cryptocurrency exchanges such as Binance.
As Axie Infinity slowly cemented its spot among the most popular blockchain-based games, the market and value of SLP also expanded beyond the metaverse and into the crypto market.
Value of SLP right now!
According to CoinGecko, 1 SLP token is currently valued at 0.233980 PHP. For those who are unaware, CoinGecko is the world’s largest independent cryptocurrency data aggregator which displays the global value of each cryptocurrency at any given point in time.
However, these values change several times a day depending on the demand and availability of the currency, much like stocks. It is possible to convert your SLP reserves into cold hard cash using cryptocurrency exchanges such as Binance and Decentralized Exchange (DEX) Uniswap.
How to earn SLP tokens from Axie Infinity?
Axie Infinity does not facilitate the exchange of SLP tokens. SLPs are only generated in the game from winning battles or competing against other players in Arena Mode.
Although the Axie Infinity platform offers several ways to earn SLP tokens, a secondary market for token exchanges arose to accumulate enough SLP to breed Axies quickly. SLP trading led to accelerated in-game progress and hardcore gamers thronged these trading platforms.
The overall circulating number of SLP tokens is more than 3,000,000,000. A seasoned player on the Axie Infinity metaverse can easily earn as much as 200 SLP per day through profitable battles and finishing day-by-day quests.
With the rising variety of the game’s users, the value of SLP tokens has shot up exponentially. Players have now figured out a way to trade SLP like other digital cryptocurrencies for the monetary benefit and the gamble has been paying off handsomely.
Also Read: https://monomousumi.com/4-easy-steps-to-convert-slp-tokens-to-philippine-peso-using-binance/
Converting SLP to PHP using Binance
Follow the below steps to convert your SLP tokens into Philippine Peso (PHP) :
- Start by downloading Binance and switching your SLP to the platform.
- Go to your Axie Infinity account dashboard and sync your SLP.
- Next, type https://bridge.axieinfinity.com on your browser and switch your SLP tokens from Ronin to MetaMask to make the conversion.
- Now that all your SLP tokens are on Binance P2P pockets, switch it to your preferred currency and convert.
Binance is one of the most popular crypto trading platforms in the world and these steps will help you convert your Smooth Love Potion Tokens to PHP at any time.
Frequently Asked Questions About SLP to PHP
- Why does the value of SLP tokens change so rapidly?
SLP is an extremely volatile cryptocurrency and its value changes continually from minute to minute. It is not possible to anticipate the actual value of these tokens as it is largely dependent on the success of the Axie Infinity metaverse.
However, with recent developments and the excitement around the metaverse, it is safe to assume that any extra demand will pump up the value sooner or later.
- What are the platforms where one can purchase SLP Tokens?
The cryptocurrency exchanges that allow users to purchase Smooth Love Potion (SLP) tokens are Binance, OKEx, FTX, ByBit, and KuCoin among many others.
- What are the best crypto pockets to store and carry SLP?
It is crucial to have a secure and dependable pocket to maintain your Smooth Love Potion tokens. We recommend Belief Pockets and MetaMask for your coveted SLP reserves because they are secure and have good user reviews.
- Is SLP Token fake or legitimate?
SLP tokens are genuine and their market value directly correlates to the growing popularity of the Axie Infinity Gaming metaverse. However, the value of an SLP token is currently extremely volatile and unpredictable. Speculative investments could result in huge losses or excessive returns on investment depending on the market conditions.
- What is the future potential of Smooth Love Potions?
The potential of cryptocurrencies and the metaverse is still largely unexplored. As more and more people start investing their time and money in the immersive experience of the Axie Infinity metaverse, it will directly affect the value of SLP tokens on the crypto market. There is a high probability that the SLP tokens would increase in value and reach new heights in the coming years.
- Should you purchase Smooth Love Potion Tokens in 2022?
It all depends on your appetite for risk. In 2022, the worth of SLP has gone down quite a bit. Keeping the potential of blockchain and cryptocurrencies in mind, this is an ideal time to purchase a few of them. However, the prices of SLP tokens fluctuate quite a lot and there is no guarantee that the digital currency shall be worthwhile in the upcoming months.
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