How You Can Buy Aave in the UK

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Buy cryptos with eToro
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Currently, the hype around Decentralised Financial Markets (DeFi) seems almost unstoppable. Accordingly, more and more DeFi projects are gaining popularity among investors. One of these big DeFi projects is Aave. The name itself is derived from Finnish and means something like "spirit". But what exactly is Aave? Where can you buy Aave? What are the forecasts? These are the questions we deal with in this article.

Aave

Buy Aave: What should you look out for to buy Aave cheaply & safely?

Aave (AAVE) was launched in December 2017 under the name ETHlend (LEND). In October 2020, LEND integrated with AAVE, making it a new cryptocurrency.  Accordingly, the currency is not yet widely used on the market. Currently, however, the cryptocurrency is becoming more and more popular, accordingly, many crypto brokers are now following suit to offer Aave You should pay attention to the following points when buying Aave so that nothing goes wrong:

    Where is the best place to buy Aave? Currently, there is no broker that offers Aave. However, due to its rapidly increasing popularity, the coin will soon be available on eToro.
    Do I want to hold Aave for the long term or trade it actively? That depends on your own trading strategy.
    How does an Aave wallet work? eToro offers a simple integrated wallet.
    Is it worth investing in Aave? Aave is currently one of the most popular DeFi projects and has seen enormous price growth over the last year. Thus, Aave is currently one of the promising cryptocurrencies. However, there is no guarantee.

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How to buy Aave with Euros? Buy Aave guide for beginners with eToro:

We now explain how to buy Aave. We use the broker eToro for this, as it offers the advantage that you can trade both real cryptocurrencies and CFDs - Etoro combines the advantages of a broker and those of a crypto exchange.

Note: Currently, Aave is not available at any crypto broker, as it is a relatively new cryptocurrency. However, as the price has risen extremely in recent months and demand is correspondingly high, we are sure that eToro will soon add Aave to its range. As soon as this happens, you can buy Aave on eToro with the help of our guide.


First step: Registering with a broker or crypto exchange

First you need to register with eToro. To do so, click on the following link to get to the registration form:

In the form you then enter your user name, email and password and accept the terms and conditions.
You will then receive a verification e-mail in which you simply click on the link to confirm your e-mail address.

Second step: top up your account

The next step is to fund your account with money in order to be able to buy Aave in the future. To do this, click on the "Deposit money" button at eToro.

Then select the amount and the payment method with which you would like to deposit and click on the "Send" button to deposit the amount.

Buy Aave with credit card, PayPal, Sofortüberweisung and more

In our example we show the purchase with credit card. However, eToro also offers other ways to deposit:

Payment option    

possible?

Buy Aave with credit card

ok

Buy Aave with PayPal

no

Buy Aave with SOFORT Bank Transfer

ok

Buy Aave with Skrill

ok

Buy Aave with Bank Transfer

ok

Buy Aave with Neteller

ok

Buy Aave with UnionPay

no

Third step: Buy Aave online with euros

Once you have funded your account on eToro, you are ready to buy Aave. To do this, click on the search box at the top and enter "Aave". Then click on the "Trade" button.

The purchase window then opens. Here you have the following options:

    Buy or sell: If you want to buy Aave, click on "Buy".
    Trade or order: Here you can choose whether you want to execute the trade immediately (trade) or with a time delay (order).
    Amount: How much AAVE you want to buy
    Stop Loss and Take Profit: At which loss or profit the position should be sold automatically.
    Leverage: With what leverage you want to buy Aave. With leverage X1 you buy real Aave, with leverage X2 you buy leveraged Aave CFDs.

After configuring all options, click on the "Open Trade" button to complete the purchase.

The purchase of Aave is now complete!

What is Aave?

aave bitcoin

Aave (AAVE) is a decentralised liquidity market protocol. Especially in recent weeks and months, decentralised cryptocurrencies have been hotly debated, and accordingly, Aave has now also moved into the spotlight. The cryptocurrency had its ICO in 2018, but has only become more popular in recent months.

Aave aims to create a transparent and open infrastructure for (decentralised) finance. The Aave protocol was actually launched in 2017, but at the time it was still called ETHlend (LEND). Later, Aave effectively became the parent company, and as of January 2020, ETHlend was dissolved. At the end of October 2020, the acronym LEND was integrated into AAVE and launched on the market.

In short, Aave is a DeFi protocol, which allows users to lend or borrow money. The main protocol here is the Aave protocol, which is completely open source. The protocol was introduced in January 2020 and acts more or less as a lending system. By creating pools, it is possible for users to create their own markets on the Ethereum Blockchain, in which they can use the possibilities of the Aave protocol.

Thus, the Aave project is a decentralised financial services project where liquidity is provided by users. The users put the coins into a credit pool, so to speak, whereby interest can be earned. On the other hand, other users can obtain instant loans through this liquidity.

What are Aave CFDs?

With cryptocurrencies, as with other financial instruments, you have the option of buying real coins or in the form of CFDs. Although you will not then acquire the cryptocurrency yourself, you can bet on the price trend.

CFDs are, after all, independent financial products that only use certain underlying assets as a price benchmark. Theoretically, with these contracts for difference, you acquire a right to buy or sell the asset. As a result, the resulting gap between the purchase price and the selling price is taken as a profit or loss. Thus, an Aave CFD is also an all-or-nothing transaction.

Broker and exchange in one: eToro

Our recommendation: Buy cryptos with eToro

    Incl. wallet
    Buy and sell cryptocurrencies directly in the wallet
    Paypal, credit card and instant bank transfer
    Regulated provider
    Real cryptos or CFD trades

Buy Aave as a CFD or real cryptocurrency?

CFD Trading

Pros

  •    Fee advantage when trading
  •     Regulated by the state and subject to deposit protection: you are protected against hacks and attacks
  •     No complicated set-up of a custody account required
  •     Trading with leverage

Cons

  •    No "real" coins
  •     Fee disadvantage for long-term investors
  •     Risky investment: large losses possible in the case of leveraged (leveraged) trading

"Real" trade

Pros

  •    Ownership of real coins that you can manage yourself
  •     Additional wallet allows you to buy, sell or exchange cryptocurrencies
  •     Steep learning curve

Cons

  •    Susceptible to hacks and cyber attacks
  •     You are responsible for managing coins yourself
  •     You often need an additional wallet for storage

With crypto CFD brokers, you can trade cryptocurrencies without actually owning them. This is advantageous for the reason that you do not have to worry about storage with a crypto wallet.

At this point, we must once again recommend our test winner broker eToro: At eToro it is possible to trade crypto CFDs with leverage as well as to buy real cryptocurrencies and store them in the integrated eToro Wallet. In addition, with eToro you have an integrated wallet right at your fingertips - so if you want to buy real coins, you don't have to worry about that.

Aave Buy or Sell? Our pros & cons analysis:

Pros:

  •    Financial services in decentralised form without a bank
  •     DeFi projects are in high demand
  •     Good entry point
  •     Good additional income thanks to "interest

Cons:

  •    Relatively new cryptocurrency
  •     Liquidity not always available

Buy Aave with or without a wallet?

In general, a wallet is always the safest place to store cryptocurrencies. If the coins and tokens are stored on an exchange instead, it can happen that you lose access to them - for example in the event of a hack attack or insolvency.

Using a wallet is not necessarily more complicated than using the usual exchange platforms. A wallet is therefore recommended in any case.

However, the use of a wallet is not mandatory for trading with Aave. Since Aave is currently in particularly high demand and gaining in popularity, the coins will most likely soon be available via eToro. There you have the advantage that you do not need your own wallet, as this is already integrated into eToro. Moreover, one can additionally download the eToro Wallet, which allows cryptocurrencies to be sent, received and exchanged into FIAT money.

However, those who are interested in a wallet can get more information on wallets in our crypto wallet comparison. However, if you want to invest in Aave CFDs instead of buying the coins, you don't need a wallet for that.

Aave price: Important moments in the price development of Aave

Aave price

The Aave protocol actually came onto the market in 2017, but at that time it was still called ETHlend. Later, Aave became the parent company and ETHlend was dissolved in January 2020. ETHlend will be renamed Aave - the AAVE tokens can only be traded on the exchanges since the 3rd quarter of 2020.

- AAVE started at the end of October with a value of around 50 USD
- Aave reached a value of 90 USD at the end of 2020
- By the end of January, the price had risen to more than 300 USD - interest in DeFi projects is increasing

The current share price (as of 12.02.2021) is 511.57 USD (426.62 EUR) - and the trend is upwards.

How much are the fees when buying Aave?

Currently, Aave is not yet available on eToro. However, due to its high popularity, we assume that the coins will soon be available. Accordingly, the fee table is intended to show how much costs will be incurred when buying Aave as soon as the cryptocurrency is added to the range on eToro:

    We buy €1,000 worth of Aave.
    We hold our Aave for 30 days and then sell it again
    For simplicity's sake, we assume that the price does not change in the 30 days

With these assumptions, we now go through the fees of the largest providers:

Provider    

etoro

coinbase

Plus500

Deposit    

free of charge

3,99%

free of charge

Purchase fees

2,45%

1,49%

3,08%

Holding fees

free of charge

free of charge

0,05%

Selling fees

2,45%

1,49%

3,08%

Payment

5 USD

0,15 USD

1,9%

Total fees

53,20€

68,24€

92,32€

Buy Aave Paypal: Where can you buy Aave with PayPal?

Paypal unfortunately plays only a very minor role on the exchanges, which has to do with the company's guarantee regulations. Many brokers refrain from using PayPal, although it is one of the most convenient payment methods. Fees are only incurred with PayPal, for example, if you top up your PayPal account via credit card instead of via SEPA or an instant transfer. In this case, a flat fee of 0.35€ is charged for the transfer, as well as a 1.9% fee on the amount sent.

Paypal offers one of the simplest payment methods on the internet, and not only that: also one of the cheapest. Paypal, on the other hand, is available as a payment method at eToro. As soon as Aave has been added to eToro's range, you can conveniently deposit money into your customer account using Paypal, in order to then either buy Aave or invest in Aave CFDs.

Paypal

Does it make sense to invest in Aave? Which cryptocurrency is the best investment?

Currently, it is not possible to purchase Aave's tokens via crypto exchanges. However, due to the rising popularity of DeFi projects, we expect most brokers to offer Aave soon. In the meantime, however, if you want to look into other cryptocurrencies, there are quite a few to choose from. Here are some of our alternatives:

Alternative 1: Opportunities in cryptocurrencies

Those looking to invest in cryptocurrencies are, of course, spoilt for choice. The most popular alternatives to Aave are:

    Buy Bitcoin: The top dog among cryptocurrencies is considered by many to be the "digital gold" and one of the most stable cryptos in terms of value.
    Buy Ripple: With the backing of many banks, Ripple is a good alternative to Aave.
    Buy Ethereum: Ethereum is the solution for smart contracts and follows a broadly similar approach to Aave.

Alternative 2: Crypto stocks

Another alternative is crypto stocks: chip manufacturers, mining companies and even the Bitcoin Group have been able to post strong profits so far. So those who do not only want to trade with cryptocurrencies can also profit from shares. And those who want to diversify their portfolio and trade in cryptocurrencies and stocks can do so conveniently via eToro.

    Bitcoin shares: If you think that Bitcoin will outperform Aave, Bitcoin shares are a good alternative.
    NVIDIA shares: NVIDIA produces important graphics chips especially for mining - if the crypto boom continues, NVIDIA is certainly a good investment.

Aave Trading - Should you hold Aave for the long term or trade it for the short term?

Whether you want to hold Aave for the long term or trade it for the short term depends on your own trading strategies. However, Aave is more or less a cryptocurrency. Most traders invest in Aave for the long term, because you get interest for lending your tokens.

In principle, Aave works like a bank that lends loans. You change your FIAT money into tokens and can offer this for lending. When you do this, you are effectively a lender. Traders who make use of the tokens are then borrowers. However, they have to deposit more than they lend. If the price fluctuates, the "lender" can liquidate the position or it is liquidated automatically.

Buy Aave at bitcoin.de, coinbase, binance, Bison & Comdirect - Why we recommend eToro as an alternative:

Aave is still a relatively young cryptocurrency, and hardly any providers currently offer it for trading. Alternatively, you can already get information about the cryptocurrency on the official website. Anyone who wants to act as a "lender" or "borrower" of the tokens can do so directly via the Aave platform.

However, if you want to trade the coins or speculate on their price movements, we strongly recommend a secure and intuitive crypto exchange. And here you should pay particular attention to the conditions.

In our big crypto exchange comparison, we were already able to determine a clear test winner: eToro. eToro offers a modern platform for beginners and advanced traders, as well as an in-house app and an integrated wallet. So if you don't want to buy or set up an additional wallet, eToro is your best bet.

Is it possible to buy Aave offline?

Aave is a DeFi project that trades tokens called AAVE. These are managed on the Ethereum network. Since Aave is a digital currency, you cannot buy it offline. To buy Aave, you need a good crypto exchange and, if you want to be on the safe side, a wallet. However, the currency must be bought with an existing internet connection. If you want to store the currency offline, you can buy a hardware wallet.

Is it possible to buy Aave anonymously?

At the beginning of cryptocurrencies, it was indeed possible to buy coins anonymously. But this was only possible in a roundabout way.  In the meantime, it is actually no longer that easy to be truly anonymous when buying cryptocurrencies. In fact, if you take a closer look, you have to say goodbye to anonymous buying.

There are only really reputable platforms that allow the purchase of cryptos that ask for the user's data. If you find a trading platform that does not do this, you are already in a grey area. But then you can also quickly fall for a scam and lose your cash, but have not received any AAVE. In this respect, one should pay attention to priorities.

We recommend the safe and reputable AAVE purchase at the online broker eToro instead of 100% anonymity. The lack of anonymity ensures the safety of all parties involved.

Can I buy Aave without verification?

If you want to trade cryptocurrencies, you cannot avoid verification at a crypto exchange. This is for your own protection and also for the protection of the exchange and the participants. After all, you want to trade with real people who have verified themselves. When you register on eToro, the verification process is quick and uncomplicated.

Can I buy Aave without registering?

If you want to buy Aave, the easiest way is with a crypto broker. This means that you don't have to worry about the tokens or smart contracts. In any case, however, registration is necessary. This offers protection and security at the same time for investors and the exchange. Aave is not yet tradable at our test winner eToro, but we assume that it will soon be included in the range. You can then either buy real coins or bet on their price movements (via CFD trading).

How to sell Aave again: Our guide for eToro

Once Aave is in eToro's range, you can easily buy and resell the cryptocurrency there. The steps here are similar to buying the cryptocurrency.

Step 1: Log in

The first step is to log in to your eToro account as usual. You can do this either via your computer or via your smartphone or tablet. You can also log in via the app to sell Aave. So you have several options.

Step 2: Select Aave

The next step is to click on your portfolio. There you will find all the assets you have invested in on eToro.

Once you have clicked on the portfolio, you will see a list of all financial instruments. Select Aave and click on Sell on the right-hand side. 3.

Step 3. sell Aave

As soon as you have clicked on Sell, a window appears again, just like when you bought the cryptocurrency. Here you can decide between an order and a trade. Then you enter the amount and click on Open Trade or Place Order. In addition, you can make further settings, such as the amount at which the position is automatically closed.

Buy Aave (AAVE) Conclusion - Our recommendation:

Aave is one of the most popular DeFi projects currently available. With the idea of a decentralised bank and the corresponding lending, Aave is gaining more and more popularity among users. Even though the cryptocurrency has actually been around since 2017, it has only been traded on the markets since October 2020. Thus, this is a new cryptocurrency that is not yet tradable on a crypto exchange.

However, due to the rapidly rising price and the high popularity, we are convinced that Aave will soon be available on our test winner eToro. An investment would definitely be worthwhile, the project itself is promising and is also very well received by users. The price has risen enormously since the end of January - the upward trend is unstoppable so far.

As soon as Aave is available on eToro, an investment could be worthwhile. eToro is our test winner of the crypto exchanges and can score points above all with low fees, its own app and the social trading function.

Our recommendation: Buy cryptos with eToro

    Incl. wallet
    Buy and sell cryptocurrencies directly in the wallet
    Paypal, credit card and instant bank transfer
    Regulated provider
    Real cryptos or CFD trades

FAQ

How can you buy Aave?

The real Aave purchase works either via the platform itself or soon also via crypto exchanges like eToro. Only here can you get real coins. Those who only want to trade and have little interest in actual tokens can also use CFD crypto brokers such as our test winner.

What is the difference between a broker and an exchange?

Brokers allow you to trade in the values via CFDs or options. On an exchange, you exchange currencies with other market participants. In order to be able to decide on a provider, Kryptoszene.de has compiled important assistance by comparing the best crypto exchanges.

Will the value of Aave increase in the future?

The Aave share price last rose by 300% in January. Due to the high popularity of DeFi projects, the upward trend is currently unstoppable. Further increases in value cannot be ruled out.

Can I use my Bitcoin wallet for Aave?

This should be considered in advance when choosing a digital wallet. Not all wallets support multiple cryptocurrencies. Certain platforms already offer an online wallet. However, there are also very secure hardware wallets that support both Bitcoin and Aave.

How do I find Aave on an exchange?

Aave has the abbreviation AAVE, but has only been offered on the market since October 2020. Previously, the cryptocurrency could be found under the abbreviation LEND. Currently, you still have to wait until AAVE is included in the range of exchanges. As a rule, this will probably not take long. As soon as this happens, you can find the cryptocurrency on the exchange of your choice under its abbreviation.

Buying Aave on eToro: A good idea?

eToro is one of the most popular trading platforms currently available on the market. The provider can convince above all with low fees, a large selection of financial instruments and a modern platform. In addition, eToro is particularly known for its social trading function. Furthermore, you do not need a separate wallet for the (future) purchase of Aave on eToro, because eToro offers an integrated wallet for cryptocurrencies by default.

Hi, my name is Benzion. I have twelve years of experience in the Forex industry, and I have launched two successful crypto trading services. I have in-depth experience on several blockchain networks like Bitcoin, Etheruem, EOS, Cardano, Hyperledger, ICON, Komado, etc. I also have in-depth knowledge of blockchain techniques, including various consensus mechanisms, DLT, smart contracts, security, and privacy measures. Benzion Friedman