It was previously unimaginable to find a network that could battle Ethereum’s seemingly infallible technology.
But Avalanche is now making it work. Known as an “Ethereum Killer,” the platform is gaining traction for its streamlined ecosystem and high scalability.
For those wanting to get their hands on Avalanche, continue reading this guide on how to buy AVAX.
We will include a list of the best sites to do your purchase. There is also price guidance for AVAX at the end of the article.
Best Exchanges to Buy AVAX
Below is the list of the most trusted exchanges that beginner and advanced-level investors can use to buy AVAX.
AVAX is among eToro’s 59 currently listed cryptocurrencies. The platform is highly selective in its listings and admits only the coins with strong market patronage and potential.
Users can put eToro’s novel features such as the CopyTrader and the demo trading account to reach their investment goals faster.
The demo account is loaded with $100,000, helping traders practice personal trading strategies at zero cost.
eToro is one of the pioneers in cryptocurrency trading, having started offering Bitcoin to retail investors in 2012.
It offers one of the lowest trading fees among major exchanges, charging only a 1.0% market spread on every buy and sell.
This is lower than the average threshold of 1.50% to 5.0% that some major sites charge.
Pionex is another well-loved site, especially for short-term traders. For those loaded with enough funding but lacking the luxury of time to trade, Pionex has eighteen (18) built-in trading bots to do the work for you.
This novel technology automatically executes orders depending on AI algorithms or the owner’s discretion. It buys during market bottoms and sells when the target is filled.
As long as the account is funded, you can leave it to make money by itself.
Just make sure to check it as often as you can as crypto is a highly volatile investment and your money is always at risk.
Pionex charges 0.05% in market and taker fees which can rarely be felt by investors making big bets.
Almost all cryptocurrency investors are familiar with and directly use Binance. The platform offers a wide range of services that enable users to earn beyond spot trading.
Such include Binance Staking, Binance Futures, and Binance Earn. Recently, it also ventured towards non-fungible tokens having realized the growing attention towards NFT.
Binance has both a desktop site and a mobile application operating 24/7 in more than 140 countries worldwide.
It offers one of the lowest trading fees among major exchanges at only a 0.1% flat rate.
Similarly, funding a Binance account is very convenient as it supports different deposit mediums.
These include bank transfers, debit/credit card payments, online transfers, and peer-to-peer (p2p) transactions.
For those wanting a more secure platform to store their Binance holdings, traders can download its official soft wallet, Trust Wallet.
It is available for both iOS and Android users. You can buy, sell, and stake coins not yet available on Binance using this platform.
Best Crypto Wallets to Store AVAX
For traders not entirely convinced with the security of crypto exchanges, you may resort to purchasing a physical crypto wallet to store your holdings.
The best of all devices for cold storage is Ledger. The brand remains unbreachable from hacking and offers one of the most competitive prices for its units.
Ledger supports sending, receiving, and staking AVAX. Traders can earn a certain interest percentage when staking coins using any Ledger device.
Another recommended cold wallet brand is Trezor. Although it leans more towards the pricier side, both Trezor One and Trezor Model T could store AVAX securely more than any mainstream exchange can.
Step-by-step Guide on How to Buy AVAX
Since this token is steadily gaining market attention, many people are now wanting to pile up on AVAX.
Here is a guide on how to buy AVAX on crypto exchanges.
Step 1: Create a New Account
Visit the website of an exchange of your choice and click “Sign Up” to start your registration process.
Enter a username and a password and agree to the Terms and Conditions to complete the sign-up stage.
Step 2: New Account Verification
The next step is account verification. By this time, the platform requires new users to upload proof of identification which are commonly government IDs and bank statements.
Step 3: Deposit Funds
The website will notify you through email or SMS once the account has been verified.
You may use bank transfer, debit/credit card linking, or online transfers to fund your account.
Step 4: Buy AVAX
It’s time to buy AVAX! Type “Avalanche” or “AVAX” on the search bar and click the coin. Enter the amount you want to trade, click “Buy,” and complete the order.
You have just bought your AVAX!
All About Avalanche
Avalance is an open-source platform focused on launching decentralized finance applications with the use of smart contracts.
Open-source in blockchain means that the technology has been produced publicly and transparently but cannot be revised or tampered with.
Ownership is also entrusted to a community rather than an individual or an entity.
Avalanche is popularly known as “Ethereum’s rival” since it specializes in the same space of smart contracts.
Although both leverages the Proof-of-Stake consensus protocol, the Avalanche consensus model made slight differences which made its network run more efficiently.
The most obvious of which is subsampled voting which explains the increased speed of transactions on the Ave network.
The Avalanche subset takes only less than a second to confirm transactions and three seconds to reach finality.
It can process about 4,500 transactions in a second compared to Ethereum’s 10-minute finality and 15 maximum transactions.
Price History of AVAX
Avalanche is known as a fast, low-cost, and eco-friendly platform which is exactly why it grew appealing to traders.
The smart contract platform launched its coin to the public in 2020 and generated $42 million in funds. Its native coin AVAX had a price of only $0.50 during its ICO.
AVAX started 2021 at $4.00 and ended the year at a little over $100.00 at the end of last year.
Avalanche has a market capitalization of $25.32 billion and a maximum supply of 720 million tokens.
Any crypto with a limited supply is considered a deflationary asset. This means that prices will increase as supply becomes rare over time.
Return on Investment
AVAX made some great strides after its initial coin offering in 2020. For those investors who were able to core AVAX’s general ICO price of $0.50, ROI is at 18,000%.
Meanwhile, for those who participated in the private ICO at $0.33, returns are much bigger at more than a 28,000% jump.
Still, it is not too late for traders who bought AVAX a year ago since the price is up 276.77% YoY.
Is AVAX a Buy or Sell?
AVAX remains a good buy at current prices, especially for long-term investors. Avalanche network in itself is doing a great job in its smart contract infrastructure which raises the possibility that AVAX could become a cheaper alternative to ETH in the future.
If market confidence continues to play on Avalanche’s side, we could see prices surging past where Ethereum is today in less than a decade.
Price Prediction of AVAX
Now that you have decided to buy AVAX, take a look at how the price is expected to come into play in 2022, 2024, and 2026.
Blockchain-based networks namely Chainlink, Securitize, Injective, Trusttoken, and Copper are already using the Ava network to execute their respective transactions.
Avalanche currently puts to work a $180 million incentive program to get people to try out the network and bring investors to come to the Avalance network.
It is now trying to bring Aave, a decentralized lending medium for crypto assets, into its platform.
The Aave open-source protocol is loaded with billions of budget for its lending projects. If it becomes successful in this attempt, we can see the price jumping past $100.00 again before climbing to its all-time high above $140.00.
So long as more blockchain-based platforms migrate their operations to the Ava network, prices will follow an uptrend.
The price of AVAX will record a low of $138.00 and a high of $263.00 in 2024.
Web3’s rise, aiming to migrate the World Wide Web on blockchain technology, will benefit Avalanche’s price greatly.
The Ave network is built for creating decentralized apps or dApps which are the core offerings of Web3.
We can see prices breaching past the hard resistance found at $287.00 a token before taking it higher past $400.00 at the end of 2026.
Conclusion: How to Buy AVAX
AVAX managed to stage an 18,000% hike since its successful initial coin offering in 2020. At its current price of only $90, the token still has a huge potential to run.
Just remember to trade cautiously as crypto is a highly speculative investment.
With the right market backing, AVAX will surely give ETH a good run for its money in the long run.