Avalanche Crypto: AVAX Price Analysis and Review
Crypto converter Avalanche (AVAX)
AVAXAvalanche
BTCBitcoin
ETHEthereum
USDTTether
BNBBNB
SOLSolana
USDCUSDC
XRPXRP
STETHLido Staked Ether
DOGEDogecoin
TRXTRON
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WETHWETH
LINKChainlink
BCHBitcoin Cash
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RUBRussian Ruble
UAHUkrainian hryvnia
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CHFSwiss Franc
CNYChinese Yuan
TRYTurkish LiraAVAX is the native currency of Avalanche platform, created to develop the “Internet of Finance” concept. With its help, you can create and configure multifunctional blockchains, run various DeFi-applications and corporate networks..
Tgdratings.com experts have prepared step-by-step instructions for buying AVAX on the exchange, as well as tips on storing and withdrawing coins.
What is Avalanche
AVAX is the native coin of Avalanche network. In the crypto community, it is often referred to as “a copy of Ethereum”. However, Avalanche is better than Ethereum in some options.
The unique consensus protocol used in Avalanche is a kind of breakthrough in the history of the development of the crypto market. It is called the Avalanche Consensus Protocol and is based on the Proof-of-Stake (PoS) algorithm. Thanks to this innovation, the Avalanche can provide security, decentralization and scalability, while most blockchains have problems with scalability and network congestion.
AVAX coins are used to pay fees on the platform. Users can also stake AVAX for passive income (so called cryptocurrencies staking). The AVAX coin is also a speculative instrument that is traded on many crypto exchanges.
Where to buy Avalanche
The Avalanche cryptocurrency is available for purchase on various services: exchanges, through payment systems or banks like Revolut. The best choice is to use a cryptocurrency exchange, and here’s why:
- There is the best currency rate on the exchange;
- High liquidity;
- Wide selection of payment methods (bank transfers, cards, e-wallets, etc.);
- An option to buy cryptocurrency for fiat (dollars, euros, etc.);
- High security.
There is an instruction on how to buy AVAX on a cryptocurrency exchange provided below. For demonstration purpose we will buy AVAX on Binance exchange (a leader in trading volume in the world).
AVAX buying instructions
Cryptocurrency exchange is the best way to buy AVAX (and other digital assets). Below you will find a step-by-step buying guide consisting of 5 steps.
Decide on the risk level
Determine the level of risk you are willing to take. The crypto market is difficult to predict due to excessive volatility. Therefore, no one is safe from loss. However, following simple rules will help to reduce risks: do not invest more than you can afford to lose, do not invest the entire amount in one asset and so on.
Choose a crypto exchange
It is easy for user to get lost in a large number of trading platforms, especially if he is just starting to work with cryptocurrency. So you should choose crypto exchanges that offer:
- Clear and user-friendly interface;
- A lot of trading pairs;
- Low fees;
- Effective trading terminal;
- Advanced security settings.
When choosing a trading platform, it is also important to read other users reviews.
Here is the list of the best exchanges to buy AVAX:
Register the account
Binance exchange – editors’ choice to buy AVAX. It offers following advantages: high liquidity, huge trading volumes, a variety of trading pairs including fiat pairs, additional opportunities to make profit on cryptocurrency, etc.
We will show you how to make an account if you are a new user of the exchange. To register on Binance:
- Click Register on the official website;
Sign up on Binance - Select your country of residence → click Confirm;
Country of residence - Select account type: personal or business account);
- Enter other required information and click Next.
Binance registration form
After that, you will need to verify your email address and phone number by linking it to your account.
Top up your account
The currency for funding should be chosen based on what currency pair AVAX is traded with on the selected exchange. On Binance the coin is traded in pairs with BTC, ETH, USDT, BUSD, BNB, as well as fiat currencies of EUR, TRY, BLR, AUD, GBP.
To top up your account with a cryptocurrency (for example, USDT):
- Select Wallet → Fiat and Spot;
- Click on Deposit and specify currency for depositing (in our case it’s USDT);
- Click Deposit on the contrary of currency name;
USDT depositing - Specify the network (for example, TRX Tron) in the next window. Make sure you have selected the same network as one in the wallet you are withdrawing coins from otherwise the funds will be lost;
- Copy address for USDT transfer on the Tron network and paste it into the wallet from which you will transfer coins;
- Send coins from wallet to exchange;
USDT deposit address - Wait while coins will be transferred to your account.
Buy Avalanche (AVAX)
Once USDT is displayed in an exchange wallet, it can be used to buy AVAX. Let’s create an order to buy AVAX:
- Select Trade → Spot tab;
Binance spot market - Type AVAX in the search bar of the trading terminal and choose AVAX/USDT from list;
AVAX/USDT trading pair - Create an AVAX buy order: specify order type and amount;
- Click Buy AVAX.
Buying AVAX on Binance
How to sell Avalanche
The algorithm of actions for selling AVAX will be the same, but with one difference: you should fill out the selling form on the right and click Sell AVAX button.
Where to store AVAX
To understand what is the best place to store AVAX, determine your goals.
If you need coins for active trading, then hot storage will provide quick and easy access to them (due to constant network connection). When using this type of wallet, it is important not to neglect basic security measures: create a strong password, activate two-factor authentication, and so on.
To store AVAX, we recommend using the following wallets:
- Trust Wallet, the official wallet of the Binance exchange;
- Atomic Wallet, non-custodial decentralized wallet supporting 500+ currencies;
- Ledger Nano X or Ledger Nano S multi-currency hardware wallets provide maximum security.
How to withdraw Avalanche to my wallet?
If you need to withdraw AVAX from Binance, we recommend using the exchange’s wallet – Trust Wallet.
To make a transfer from the exchange to the wallet:
- Go to Binance and select Wallet → Fiat and Spot in your account;
Binance user’s wallet - Select AVAX and click Withdraw in the list of coins available for withdrawal;
AVAX withdraw - Specify the transaction network. Make sure you choose the same network as on in the wallet you are withdrawing coins from, otherwise the funds will be lost;
- Insert Trust Wallet address in the Address field. To do this, go to the application on your mobile device (here is a download link);
Network selection and address field - Click Receive in the Trust Wallet app;
How to withdraw AVAX to Trust Wallet: step 1 - Enter AVAX in the search bar and specify the network to transfer;
How to withdraw AVAX to Trust Wallet: step 2 - Copy the unique address for receiving coins and paste it in Address field on Binance.
How to withdraw AVAX to Trust Wallet: step 3
FAQ
- Top up your exchange account;
- Go to the trading terminal;
- Select a trading pair;
- Create buy order by specifying the order type and other details;
- Buy AVAX.
