Where to Buy Avalanche (AVAX) Crypto Coin

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Avalanche (AVAX) is a blockchain platform and cryptocurrency. The Avalanche platform has its own native cryptocurrency, AVAX, which has gathered plenty of attention. 

As cryptocurrencies gather popularity, the questions of whether and how to invest in crypto assets naturally arise. AVAX has a unique value proposition behind its value and, as of March 2022, is among the top 10 cryptos by USD market cap.

This guide will cover what AVAX is, the pros and cons of AVAX as an investment, and how you can add AVAX coins to your crypto portfolio.

Nexo Crypto Wallet App

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Learn how to access Nexo crypto loans through this crypto wallet app to borrow cash or stablecoins using your crypto as collateral.
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Learn how to use the Nexo crypto exchange to sell, buy cryptocurrencies and earn passive interest on your digital assets.
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In this review, we will go over the ways you can use your staked cryptocurrency in Nexo to earn interest and generate passive income.

What is AVAX?

AVAX is a blockchain platform specializing in fast processing speeds, scalability, security, and accessibility. It is a smart contract-based platform that supports Dapps (decentralized applications) and autonomous blockchains.

In many ways, AVAX is comparable to Ethereum. The platform operates effectively in the same market. However, it’s a younger platform that offers some unique functionality.

Coin Creation

Ethereum has an unlimited maximum supply, but only 18 million can be created every year. AVAX, on the other hand, is capped at a maximum of 720 million in circulation.

More importantly than the difference between AVAX and its main competitor ETH, Avalanche crypto has a system where users determine the speed with which new coins are created. Users vote to adjust the maximum AVAX pays as a block reward for the AVAX blockchain.

Burnt Gas

Unlike most similar cryptos, transaction processing (“gas”) fees for using the AVAX blockchain are burnt. That means they are completely destroyed and removed from circulation. This has a couple of significant benefits.

First, AVAX is left intentionally scarcer, protecting its long-term value. Additionally, it keeps the network unclogged, helping AVAX stay true to its promise of fast transaction completion.

Scalability

Ethereum is the clear winner in terms of current activity. But AVAX’s speed and ability to scale have been tested enough to reveal its great efficiency. In the long term, some analysts believe AVAX will present a challenge to Ethereum. In addition, AVAX can support more transactions with less processing time.

Incentivization

If you spend more time active and respond faster, you can boost your rewards for supporting transactions on the network. AVAX is paid out in kind. This incentive structure is different from most other platforms; AVAX incentivizes and rewards closer, more active participation.

Fairer Consensus-building

Transactions are confirmed by a method unique to the AVAX blockchain. Consensus is determined by requiring many small cohorts of AVAX users to confirm transactions before they are finalized.

Pros and Cons of Trading AVAX

Pros

  • strong incentivization for active usership
  • fast transaction times are baked into the platform
  • unique value proposition based on a tested infrastructure
  • potential to support many blockchain projects as time goes on, boosting value

Cons

  • high costs for validating
  • exists in a competitive market segment

Nexo Crypto Wallet App

5c63892ff3d27b00014dcb1eLoading TrustPilot
Learn how to access Nexo crypto loans through this crypto wallet app to borrow cash or stablecoins using your crypto as collateral.
5c63892ff3d27b00014dcb1eLoading TrustPilot
Learn how to use the Nexo crypto exchange to sell, buy cryptocurrencies and earn passive interest on your digital assets.
5c63892ff3d27b00014dcb1eLoading TrustPilot
In this review, we will go over the ways you can use your staked cryptocurrency in Nexo to earn interest and generate passive income.

Steps for Buying AVAX 

If you want to truly benefit from a rising star in the cryptocurrency economy, it’s best to invest before it takes off. AVAX was valued at less than $10 until January 2021. Over time, its value has steadily increased with some heavy fluctuations typical of cryptocurrencies. It peaked at just over $134 in November 2021 and has not surpassed that height since then.

AVAX is still a relatively young but highly ambitious platform (and currency). If you want to invest in AVAX, you just need to follow a few steps typically required of cryptocurrency investors.

1. Review Crypto Exchanges

The first step to buying AVAX is finding out where to buy it from. A variety of cryptocurrency exchanges offer AVAX. You can buy AVAX with fiat currencies, BTC, or other cryptos. However, when considering which exchange to use, you have a few factors to consider.

Security

The security of a cryptocurrency exchange is the most important consideration. Exchanges are notoriously fruitful targets for cybercriminals, and several successful attacks have regularly made the news recently. Cryptocurrency exchanges understand the PR effect this has had and, for the most part, are keen to make their security measures well-known to visitors.

Make sure the exchange you choose uses up-to-date security measures. For example, Nexo is a cryptocurrency platform offering military-grade security and up to $375 million insurance on the assets they custody for you. 

Fees

All platforms selling AVAX have to make a profit somehow. But price differences exist from exchange to exchange. You’ll also learn that much larger differences in transparency regarding fees exist. Make sure you account for all the costs before choosing a cryptocurrency exchange.

Trading Pairs

Which other cryptocurrencies does the exchange offer? Perhaps more importantly, which fiats and cryptos can you use to buy AVAX on the platform?

These questions are typically answered very transparently as exchanges list all the cryptos they offer on their sites. To follow the same example, in the Nexo crypto exchange, you can access over 300 coin pairs and earn instant cashback while you swap coins to make a bit of extra money

Unique Benefits

The cryptocurrency space is very dynamic, with a few platforms leading the way in accessibility, affordability, and other factors to make the most out of your cryptos. In this regard, Nexo is a cryptocurrency platform where you can buy, sell, and swap cryptos, offering cashback rewards for swapping pairs. 

In addition, Nexo is also a crypto lending platform. You can borrow either cash or stablecoins by using cryptocurrency assets as collateral. In the platform, you can also stake your crypto to earn interest; it is as simple as leaving them there, and Nexo will pay your compounded interest daily (rather than weekly like other ones). 

If you want to learn more about making the most out of crypto, you can visit Nexo’s website to review all the features the crypto platform offers.

2. Open an Account

Once you choose the exchange you want to use, you need to create an account. Exchanges often enable users to hold their assets offline and vary in freedom of access and security. But all exchanges require you to make an account to center your activities around.

Account creation processes tend to be simple. You just click “Create Account” or a similar button on the exchange website and follow the prompts. 

You should note that transaction restrictions are often placed on crypto exchanges. These are generally made for security purposes and can be decreased or removed by volunteering for more comprehensive identity verification processes.

3. Add Funds or Payment Method to Your Account

You can typically open an account on any mainstream exchange for free and without obligations. However, you need to connect a payment method to make a purchase on the exchange.

If the exchange you choose is secure and you take basic online safety precautions, connecting a payment method to your crypto exchange account should be safe.

4. Buy AVAX

The actual purchase of AVAX usually is the easiest part of the process.

Once you’ve completed all of the above steps, just place an order for AVAX on your exchange of choice. After that, the only thing you need to consider is your storage solution.

Most exchanges offer hosted wallets. That means that your exchange holds onto your digital assets, your ownership of which is maintained. However, some people prefer to hold their cryptos in cold (offline) wallets or elsewhere for some mix of security and convenience.

How to Sell AVAX

You can generally sell AVAX on the platform you bought it from. Just place a sell order, and you should be able to trade AVAX for stablecoins, fiat, or other cryptos.

As mentioned before, you can sell your AVAX in a crypto exchange like Nexo, even instantly, if you’d like. And you can also benefit from staking your AVAX on their crypto wallet to earn interest on your AVAX crypto coin.

nexo crypto wallet app

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