AAVE Price CAD

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From: December 2, 2020To: December 2, 2021

What is AAVE?

Aave is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over collateralized (perpetually) or undercollateralized (one-block liquidity) fashion.

Aave’s open source protocol allows anyone to interact with the user interface client, API or directly with the smart contracts on the Ethereum network, and it has been audited for security. Being open source means that you are able to build any third-party service or application to interact with the protocol and enrich your product.

Aave originally began as ETHLend in 2017, as the LEND token, which was later swapped 100:1 to become the AAVE token, which is the native token of the Aave Protocol.

How to buy AAVE in Canada

Bitbuy now supports Aave. To begin purchasing Aave in Canada, users simply need to sign up on Bitbuy in order to create an account. Once they get verified, they can add funds directly from their bank accounts to purchase the Aave tokens.

The easiest way to buy AAVE is on Bitbuy’s Express Trade, where you’ll be able to buy AAVE directly with your CAD balance.

To verify your account, you will be asked to input some information. A third-party verification service will then confirm your identity and verify your account.

Next, users can navigate to Bitbuy's built-in wallet feature, where they are able to deposit Canadian dollars or other cryptocurrencies of their choice.

Once you have Aave, you can store it in your Bitbuy account, or send it to the Aave protocol. Other storage methods include any ERC-20 compatible wallets such as MyEtherWallet (MEW) and MyCrypto. Best practices always suggest offline storage methods, which include many hardware wallet options as well.

Interesting AAVE facts

Aave was created in 2017 by developer Stani Kulechov, who had been exploring the potential for Ethereum to change the traditional financial system. Aave was originally launched as ETHLend, with the native token LEND, after an initial coin offering (ICO) raised $16.2 million.

To date, Aave has partnered with a number of developers, including: Axie Infinity, Pixelcraft Studios and Balancer.