- Aave (AAVE) is a well-known DeFi (decentralized 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 the United States.
Not sure which exchange to use?
Where to buy Aave
On website
eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.
eToro Crypto
Highlights
- Trade and stake a range of crypto assets with low fees.
- Copy successful traders. Practice with a demo account.
- eToro is regulated by CySec, FCA and ASIC.
Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MS
Pros
Cons
On website
CoinSmart
Highlights
- Get $20 in BTC with your first deposit.
- Trade major coins and popular altcoins including Dogecoin, Cardano, Solana, Polkadot, and Polygon.
- Fund your account with wire transfers, credit / debit cards, or crypto with access to trade funds the same day.
Pros
Cons
On website
Finty may be compensated when you click on the link.
Highlights
- Get $5 in Bitcoin after your first trade on Coinbase.
- Buy and sell popular digital currencies, keep track of them in the one place.
- Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
- Maintains crypto-insurance and all USD cash balances are covered by FDIC insurance, up to a maximum of $250,000.
Pros
Cons
Crypto.com
Highlights
- Earn up to 14.50% on your crypto.
- Supports more than 40 cryptocurrencies and stable coins.
- Deposit crypto and earn rewards.
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 (USD) currency in your account, which you can transfer from a bank account or with a debit card. Payoneer, PayPal, Skrill, Venmo, etc. may also be accepted, but funding methods vary considerably between exchanges. Note that some exchanges charge a fee to deposit funds with a credit card.
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.
