Avalanche (AVAX) is emerging as one of the largest blockchain cryptocurrencies in the world, surpassing others such as Litecoin (LTC) and Shiba Inu (SHIB) in total market capitalization.
But why is AVAX crypto so popular? The answer is its functionality: Avalanche has set itself as a “platform of platforms,” seeking to provide a secure DeFi global network for applications while solving the common issues in blockchain technology. This is a monumental feat that AVAX is showing great promise in achieving — which is why many people are wondering how to buy AVAX, and how to capitalize on their development.
What is Avalanche (AVAX)?
Avalanche is a blockchain ecosystem designed to offer faster, more secure, and more efficient DeFi functions. It is unique as it is the only blockchain that can finalize transactions in less than a second, while also allowing users to connect with multiple blockchain networks (such as Etherium). This helps users access various applications and functions without the hassle of transferring funds from one platform to another. This efficiency also helps for taking on new crypto projects — like new Gamefi applications — into its ecosystem.
Why Buy AVAX?
The systems of AVAX are revolutionary, addressing the problems users have been experiencing with Ethereum and Bitcoin for years. This creates value, leading to an interest in how to buy AVAX. As a result, AVAX crypto’s price has multiplied by almost 34x since the beginning of 2021, while also making it a cheap crypto to buy.
Like Ethereum, Avalanche's platform supports smart contracts. But it's how Avalanche processes them that makes this crypto popular — it’s faster and has lower transaction fees. These advantages are possible through their use of a proof-of-stake, and three-blockchain system:
- Exchange Chain (X-Chain) — supports the creation and trading of AVAX tokens.
- Contract Chain (C-Chain) — helps with the creation of decentralized apps using smart contracts.
- Platform Chain (P-Chain) — validates and verifies transactions, and supports the creation of subnets.
Thanks to their system, Avalanche can process more than 4,500 transactions per second, with its “time to finality” (when a transaction has been irreversibly finalized) being under two seconds — outperforming Etherium.
These advantages are resulting in the increased adoption of Avalanche — more than 150 projects and applications have been added to their ecosystem to date — and the increased public interest in how to buy AVAX.
How to Buy AVAX
If you’re a beginner investor interested in starting your journey with crypto or want to learn how to buy AVAX, we recommend following our step-by-step guide below:
Open a Binance Account
Our first step on how to buy AVAX is to create an online account on a crypto exchange platform. We recommend making one on Binance, considered one of the best crypto exchanges that support AVAX trading.
Sign up for an account on their website here. If you have friends who already have Binance accounts, consider asking them for their referral code.
Before continuing with the next step on how to buy AVAX, you’ll need to get your account verified. Present a valid ID, your name and address, and your face for facial recognition scanning. Once you’ve given your information, it will only take a few minutes for your account to be fully verified.
The next step on how to buy AVAX is to get stablecoins, such as Tether (USDT). Designed to have the same value as fiat currency, they work similarly to exchanging currency at a bank. Unlike stock markets, you can’t directly use regular money to start trading. You need to have stablecoins to trade for other tokens, such as AVAX.
To exchange your money for USDT, you can use four methods:
- Bank transfer — Wiring money directly from your account to the providers of these coins. Then, use to buy USDT on Binance exchange. Read the tutorial here.
- Credit card — You can directly purchase USDT with a credit card or debit card on Binance. Read the tutorial here.
- Exchange tokens — Binance supports trading for more than 300 cryptocurrencies, several of which you can exchange for USDT.
- P2P — You can purchase it directly from another individual in person, via third-party applications such as GCash or PayPal. Check out the tutorial here.
Place Your Buy Order
Once you have USDT in your Binance account, you can begin buying your AVAX crypto. This step on how to buy AVAX works similarly to the stock market. Click on the “Market” tab on Binance, and search for AVAX. There should be a short tutorial on how to spot trade there.
You can designate your order as either a limit or a market order. If you place your order as a market order, you’ll immediately purchase AVAX crypto at the current market price. With a limit order, you’ll purchase AVAX crypto at a specified price. If you change your mind, you can cancel a limit order any time before it gets filled.
Trade, Sell, or Hold Your AVAX
At this point in our guide on how to buy AVAX, you should consider whether you want to hold or use your tokens. If you want a major investment in AVAX, hold your tokens. If you decide you want to actively use your AVAX crypto, you could trade or sell them.
To trade, you can sell your AVAX by placing a limit or market sell order. If you want to sell your AVAX tokens, you could sell them back to USDT. These funds can be transferred into your bank account, following this tutorial. Or, third party apps (like GCash and PayPal), using the following steps:
- Trade AVAX crypto to stablecoins, like USDT.
- Head to your wallet, and select “Spot”
- Click “Transfer,” and select “P2P wallet,” and your chosen stablecoin.
- Fill out the number of stablecoins, click “Transfer”.
- Click the “P2P” tab, then click “Sell.” You will see buy offers for stablecoins. Click on an offer to begin trading.
- Fill out the amount you want to trade, and indicate payout as bank deposit, GCash, PayPal wallets, or other options. Fill in your account details.
- Click “Sell.” You will see a pending order form while the user completes their end of the transaction.
- Once they have completed their transfer, you will receive a release order. Always wait for the release order and proof of payment before transferring your stablecoins to another account.
- Click “Please Release,” then “Confirm Receipt,” to finalize your transaction. Your money should now be in your bank or online wallet account.
AVAX’s Long-Term Outlook
AVAX has the ambitious goal of being a one-stop platform for various real-world assets, applications, and services. Hence, all the interest on how to buy AVAX and take part in this growing platform.
AVAX’s cutting-edge technology offers many advantages over other networks, prompting many projects to collaborate and integrate with AVAX. Acceptance is key to longevity in the crypto world — the more projects continue to build on AVAX, the more robust and valuable their system is.
The good thing is, AVAX is showing no signs of stopping their expansion, with over 364 projects launched in the last 14 months. As a result, their crypto tokens will likely continue increasing in value. So, using our guide on how to buy AVAX may be beneficial for your investment in the long term, even if you simply want to earn crypto while playing games.
Use Our Guide On How To Buy AVAX And Take Part In A Growing Cryptocurrency Platform!
Learning how to buy AVAX, and being part of a growing platform can be advantageous for many new crypto traders.
While there is no way to predict with 100% accuracy where its value will go, it’s undeniable that more users and entities are adopting AVAX’s blockchain, showing there is potential growth behind this platform. Through their innovative systems, Avalanche is a stable blockchain, which makes it an attractive investment option.
With fast and efficient DeFi at a reasonable price, a growing number of projects being built on its blockchain, Avalanche has reached critical mass and is here to stay.