AAVE is the native token of the Aave lending protocol (the “Aave Protocol”). The Aave Protocol is an open-source lending protocol running on the Ethereum blockchain that enables users to lend and borrow crypto assets. Aave is a Switzerland-based for-profit company originally founded in 2017 by Stani Kulechov under the name ETHLend.
The Aave Protocol facilitates lending pools (also known as liquidity pools) which allow users to lend or borrow different crypto assets. When users lend, they earn interest; when they borrow, they pay interest. Similar to other decentralized finance systems hosted on the Ethereum blockchain, borrowers on the Aave Protocol must post collateral before they can borrow.
Users lend by depositing crypto assets into the liquidity pools. The funds underlying these pools are allocated via smart contract to borrowers. Users who deposit their crypto assets receive new aTokens. aTokens allow users to earn interest. The amount of interest earned on the aTokens depends on how much liquidity is available in a given lending pool.
The Aave Protocol has a safety module denominated in AAVE which serves as a backstop for insolvency risk. The safety module works by incentivizing investors to purchase and stake AAVE within an insurance pool, allowing them to earn further AAVE. If a market on the Aave Protocol reaches a state where its liabilities are greater than its assets, then the AAVE safety module is intended to cover the shortfall.
AAVE has are several features that make it attractive. When used to post collateral, AAVE users receive increased borrowing limits and reduced fees. In addition, AAVE borrowers can take out a loan denominated in the token without being charged a fee. Holders of AAVE are also able to participate in the governance and development of the Aave Protocol, as AAVE is used to vote and decide on the outcome of proposals to improve the Aave Protocol.
Eager to buy AAVE but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy AAVE from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.
Investors can easily invest in AAVE by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying AAVE directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is here. Our customer support team will ensure your investment journey is smooth throughout.
Buying AAVE in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
If at any point you need help signing up, verifying your account, adding funds, or buying and selling AAVE, just contact customer support for same-day assistance.
Bitbuy is one of the best and most secure places to buy AAVE in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are is safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy AAVE.
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy AAVE with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy AAVE in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your AAVE? Bitbuy is the perfect place to start. Bitbuy has a built in wallet that you can use to store your AAVE safe and securely.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade click the 'Sell' button which will appear in red.
Click the drop-down and search AAVE to begin the sale.
Enter the amount of AAVE that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate AAVE and click on the 'Sell' button.
Enter the amount of AAVE you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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