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- Aave (AAVE) is a well-known DeFi (decentralised finance) protocol in crypto markets.
- Aave is completely open-source and lets you borrow assets, earn interest and build applications.
- It is considered a very promising cryptocurrency.
Looking to buy Aave? Read our step-by-step guide to buying Aave Protocol from Australia.
Not sure which exchange to use?
Where to buy Aave
On website
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
Highlights
- Access thousands of assets across multiple categories.
- Copy trades of popular investors that trade Crypto.
- Access powerful analysis tools and innovative social features.
Pros
Cons
On website
Highlights
- Receive $10 worth of BTC when you sign up and verify your account.
- Trade over 300 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
- Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
- New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.
Pros
Cons
On website
Highlights
- Buy Bitcoin, Ethereum, XRP and over 370 other digital currencies.
- Refer a friend and earn $10 BTC.
- Get 24/7 helpdesk support.
Pros
Cons
On website
Finty may be compensated when you click on the link.
Highlights
- Buy and sell popular digital currencies, keep track of them in one place.
- Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
- Coinbase Australia is registered with AUSTRAC.
Pros
Cons
First time buying?
How to buy Aave
Step 1: Choose a crypto exchange
Aave is available on a growing list of cryptocurrency exchanges.
When comparing exchanges, look at what fees are charged for transactions (maker and taker or a spread). Check if there's a fee to deposit or withdraw fiat currencies, what options are available for orders (market, recurring buys, etc.), if it has a mobile app, and so on.
Step 2: Get verified
If you create a new account with a crypto exchange, you will be required to give some personal information (name, telephone number, and email address).
You'll then have to verify your identity for tax purposes. This can be done with any valid photo ID. The verification process will take no more than a few minutes to complete at most exchanges.
After your identity has been verified, you are able to fund your account and begin trading.
Step 3: Set a budget
You should only invest money that you can afford to lose, especially when it comes to cryptocurrency, which is a volatile asset.
Most exchanges have no minimum deposit requirement or, if they do, require a small deposit.
Step 4: Deposit funds in your account
You can deposit fiat (AUD) currency in your account, which you can transfer from a bank account or with a debit card. PayPal, etc. may also be accepted, but funding methods vary considerably between exchanges. There will probably be a surcharge to deposit funds with a credit card at most exchanges, if they even accept credit cards.
Check whether your crypto exchange lets you trade stablecoins and other crypto tokens for Aave. Not all exchanges accept crypto-to-crypto trades, but if you already hold crypto in a wallet, you may be able to fund your account with it.
Step 5: Buy AAVE
If you aren't concerned about slippage cost and don’t have a trading strategy in mind, use a market order to buy Aave. Most exchanges also make it possible to set up trigger orders to be immediately executed whenever Aave is at a specific target price, which you can use to execute a strategy.
Some exchanges have automatic recurring orders that will automatically purchase more Aave at a specified interval, e.g. each week or month. This lets you take advantage of dollar cost averaging over time.
After you buy
Where to store your Aave
To have easy access to your AAVE tokens, you can keep them in the hot account in the exchange in which you purchased the tokens. It is possible to transfer them to a hot account you control in another exchange at a later time. Be aware that hot wallets are connected to the internet, and therefore, are susceptible to theft, hacking, and malware.
Cold wallets, in contrast, are specially-designed devices that do not connect to the internet. They're the safest way to store crypto. However, it’s a less convenient option for active traders.
