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Aave is regarded as a decentralized digital currency that has been created to be used by individuals and businesses for online payments, remittances, crowdfunding, peer-to-peer lending, etcetera. It’s also known as “the first-ever stablecoin” because of its stability against inflation and deflation. The coin was launched on January 31st, 2017, with an initial supply of 100 million coins. This number will decrease over time until there are only 21 million left.
Aave is also called ERC20 token, which means that you can use this crypto for trading purposes without any problems. You’ll find many exchanges where you can buy or sell Aave, but we recommend using Binance since they have low fees and excellent customer support. Something interesting about Aave is that it uses a Proof Of Stake consensus algorithm instead of proof of work like most other cryptocurrency do. If you’re interested in investing in Aave, click below so you don’t miss anything!
How can I buy Aave
You can purchase them from various exchanges such as KuCoin, HitBTC, Cryptopia, YoBit, COSS, and CoinExchange. We highly suggest purchasing through these platforms due to their safety procedures. This can take some minutes, depending on how busy each exchange platform is at the moment. Once you’ve purchased your Aaves, you need to go back into your wallet software and send your newly acquired Aave tokens directly to your Ethereum address. Remember to double-check both addresses before sending any funds.
PayPal
Aave accepts Paypal as well. This enables users who prefer not to register on an exchange to get still involved in the market. However, if you want to trade more than just one pair, we advise registering on an exchange. PayPal can also be used to withdraw money from your account once you receive your Aave tokens. Many people prefer to keep their wallets offline when dealing with large amounts of cash. To ensure you never lose access to your private keys, we strongly advise keeping your wallet files stored locally on your computer.
Buy with a credit card
Aave supports Credit Cards via Coinbase Wallet. If you already own Bitcoin or Etherium, you can easily convert those currencies into Aave. When using a credit card, please note that all transactions made with credit cards incur additional charges. These charges vary between different banks and countries. We cannot guarantee that your transaction will be processed within 24 hours. Ensure you get in touch with us immediately if you experience issues while making purchases.
Bank Transfer
Aave also allows bank transfers. Please note that transferring funds takes longer compared to credit cards. The process may take up to 3 days to complete. Once again, we cannot guarantee that your transfer will be completed within 24 hours. Also, you should notice that the minimum amount required to fund your account is USD 100.
Where to buy Aave
There are a lot of places online where you can buy Aave. Some of them include:
Crypto Exchanges
You can either buy or sell Aave on this platform by exchanging fiat currency for BTC or ETH. The importance of doing this is that you avoid paying any commission fee. This method requires registration, though. This platform also offers margin trading, which makes it possible to increase leverage. For example, if you deposit 1 BTC, you could borrow another 100 BTC to invest in Aave. Margin trading comes with high risks, however. It’s essential to understand what you’re getting yourself into before engaging in this type of activity.
Local Exchange Platforms
These platforms allow you to trade Aave against local fiat currency. They usually offer lower commissions than crypto exchanges. However, there are no guarantees regarding security since they operate outside of the blockchain network. You’ll have to trust the company running the platform. Some examples of LEPs include Changelly, BitPanda, Bittrex, etc.
Paxful
Here you can find buyers and sellers willing to purchase/sell cryptocurrencies directly without going through middlemen such as brokers or escrow services. You can use Paxful to buy AVE at meager prices. If you don’t mind waiting a little bit, you might even be able to save some money.
Bottom line
Buying Aave is easy, but it does require some research first. We’ve tried our best to provide everything you need to know about how to do so safely. Hopefully, after reading this guide, you now have enough information to start investing!
