According to the latest statistics, AAVE has a market capitalization of $1 billion-meaning there is room for growth and investment opportunities. But how do you invest in AAVE? Keep reading, and we’ll fill you in on all you need to know about this cryptocurrency token and how to buy AAVE.
What Is AAVE?
AAVE is a decentralized cryptocurrency platform. This platform is unique because it allows users to borrow and lend crypto. Smart contracts, a transaction protocol, help automate this process by ensuring that actions and events follow the contract terms.
AAVE specializes in collateralized loans, meaning that users will have to deposit an amount that exceeds the value of the asset borrowed. That said, only low-risk assets like Bitcoin are accepted as said collateral. This protocol is in place to protect the lenders from losing their money.
There is also a native token that the platform offers that can be traded on most exchanges. You can also stake the token in the platform and earn interest. Staking is a safety measure the platform implemented in case of shortfall. If a holder chooses to stake their funds, they will receive incentives for doing so.
Risks Of AAVE
As with any cryptocurrency, there will be risks involved with it. For example, there is a liquidation risk if the value of it drops too far. However, this isn’t as likely.
The AAVE platform has no insurance, it isn’t covered under FDIC insurance either, so keep that in mind when investing. Like most cryptocurrencies AAVE is volatile, meaning that its values can drastically change in a short amount of time. It’s crucial that you assess your risk profile to determine if this coin is right for you.
How To Buy AAVE From A Bitcoin ATM
If you decide that AAVE is within your risk profile, there are a few different ways to buy it. One way is to purchase AAVE at a centralized cryptocurrency platform. Another way is to purchase it at a Bitcoin ATM.
Byte Federal Bitcoin ATMs offer AAVE and have a daily limit of $29,500. Note that you will need to have cash with you when you go to one of these ATMs, as they do not accept other forms of payment. Before going to a BATM, make sure you have a digital wallet, like ByteWallet.
When you initiate a purchase, the Bitcoin machine will ask you to scan your QR code from your digital wallet. Byte Federal Bitcoin ATMs do not ask you to enter your wallet address manually, so there is little room for error.
Once you arrive at a Byte Federal ATM, you must register as a new user or log in if you are an existing user. Next, select AAVE and insert the amount of cash you want to convert into AAVE.
Once the transaction is complete, you should see the AAVE in your wallet soon after.
Here are some additional tips for buying AAVE at a Byte Federal Bitcoin ATM:
- Be sure to check the BATM’s location and hours of operation before you go.
- Have the exact amount of cash you need ready before you arrive at the BATM.
- Be aware of the fees associated with buying AAVE at an BATM.
Learn More About Where
To Purchase AAVE
Now that you know a few things about how to buy AAVE, you need to decide where you’ll purchase it. If you’re new to buying cryptocurrency, consider using one of our Byte Federal Bitcoin ATMs.
Check out this page to discover the nearest Bitcoin ATM.
