How to buy Aave (AAVE) from the USA

By   |   Verified by Andrew Boyd   |   Updated 29th August 2022

  • 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

eToro Crypto

On eToro's website

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."

eToro Crypto

Highlights

  • Buy $100 worth of crypto and get a bonus of $10.
  • 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.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
CoinSmart

On CoinSmart's 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

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.
Coinbase

On Coinbase's 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

  • Get access to a wide variety of altcoins.
  • Start trading with as little as $2.
  • Offers Coinbase card which allows you to spend crypto anywhere.

Cons

  • Fees are higher compared to other exchanges.
Crypto.com

On Crypto.com's website

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.