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Are you a seasoned veteran in the world of cryptocurrency looking to broaden your horizons? Or perhaps you’re just hopping on the crypto bandwagon and are exploring your digital asset options beyond the ever-popular bitcoin or dogecoin. Whichever category you land in, you might want to consider adding AAVE to your portfolio of virtual currencies. The double vowel may turn heads, but it is quickly becoming a must-watch crypto.
AAVE: A Primer
The cryptocurrency industry is so much more than a speculative investment. The broad array of technologies and assets accomplish many things in the finance realm and in the broader digital economy. Aave and its token, AAVE, are proof of what crypto can become.
Launched in 2017, Aave is a decentralized money market that functions on the Ethereum blockchain, allowing users to lend and borrow a wide range of crypto assets. The platform used to sell a token called LEND before ditching it in favor of AAVE.
Aave is an independent system as it facilitates an environment of borrowers taking out loans, with lenders earning income on the funds they lend out to consumers.
While the fundamental business model is comparable to conventional financial institutions, the developers note that Aave has several distinct advantages:
- Borrowers can take out loans for cryptocurrencies.
- No personal identification is required.
- Loans on Aave are instant (also known as Flash Loans), no matter large or small, and are available without any collateral.
Users earn AAVE by leaving their holdings in the Aave protocol, which can also serve as a vote on the future of the protocol. Individuals can also buy and sell AAVE on cryptocurrency exchanges, much like bitcoin and litecoin. Because the AAVE market capitalization is approximately $2.5 billion, the token is susceptible to volatility and price fluctuations.
Are Aave and AAVE proving to be gamechangers in the world of crypto? The market will be the judge of that. But if you are interested in climbing aboard the wave, here is what you need to know to buy, sell, and trade AAVE with , you may be wondering how to buy, sell, and trade AAVE on Canada’s leading digital currency platform:
How to Buy and Sell AAVE with Bitbuy:
Does buying and selling AAVE or any cryptocurrency need to be as complex as source code? Not at all. Everyone can participate in the captivating world of crypto.It all starts with an account.
Here is how it works on the Bitbuy platform:
- Visit Bitbuy.ca and create an account by providing your email address and phone number and then verifying your identity.
- After your identity has been confirmed, you can deposit funds into your Bitbuy account using either Interac e-Transfer or a bank wire. You can begin with a $100 minimum.
- Once your funds have been confirmed and deposited, choose which digital currency you want to buy and sell. You have a long list of options at your disposal, from AAVE to Ripple and EOS.
As simple as one, two, three!
Is Now the Time to Buy and Hold AAVE?
Built around an innovate lending pool system, some may suggest that Aave is one of the most compelling money markets around right now. You can be the judge of that. Take the next step today and stock your online wallet with some AAVE.