How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase AAVE on BYDFi. We'll guide you through it
Choose how to purchase AAVE on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (AAVE). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store AAVE in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your AAVE to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy AAVE on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive AAVE
Trade
Answers
Is Aave (AAVE) a Good Investment?
As the native token of a leading DeFi platform, the AAVE token is a good investment to consider, especially if you believe in the future potential of decentralized finance. In addition, you could buy and stake AAVE to earn passive income and grow your crypto portfolio.
The AAVE price could witness an uptrend as more users access Aave Protocols services for lending liquidity or borrowing crypto assets. The higher on-chain activity could increase the demand for the AAVE token and send its value higher in the market.
The AAVE token is also a good investment if you wish to participate actively in the DeFi market and would like to contribute to Aave Protocols decentralized governance mechanisms. As a token holder, you could have a say in what new assets the protocol will support and other future upgrades its developers could include.
What factors could drive volatility in the AAVE Crypto Price?
Although it is impossible to provide an accurate Aave price prediction, several fundamental factors could drive volatility in this token. These include:
Aaves Adoption
The AAVE crypto price could head higher amid suppliers and borrowers rising adoption of the protocol. Higher on-chain activity is one of the most significant factors that could drive up the value of the AAVE token in the crypto market.
Expansion to More Blockchain Ecosystems
As Aave Protocol expands to more blockchain networks in the future, it could enjoy higher use. Such an expansion would also help the platform support more crypto assets, increasing its appeal among users.
Addition of New Features
As the developers add more features that make the non-custodial liquidity protocol a better platform than its competitors in the market, we can see the adoption of the protocol rise. This could contribute to an uptick in the price of AAVE token.
Market Sentiment
Market sentiment is another crucial factor that could drive changes in the value of AAVE crypto. A bullish sentiment among crypto investors could encourage higher buying activity in the market and higher overall activity in the DeFi sector, which could also support the AAVE price. However, a risk-off mood or bearish sentiment keeps investors away from the crypto market and DeFi platforms, which could weaken the value of AAVE token.
What is AAVE Token Used For?
AAVE is the native token of the Aave Protocol and has several applications, including:
Governance Token
AAVE is the governance token of the Aave platform, empowering token holders with the right to submit and vote on critical proposals that impact the functioning of the DeFi project. AAVE token holders can vote on which new assets Aave should support, what future upgrades should be implemented, and more.
Staking
Aave users can stake AAVE on the platform to help secure the protocol. Users can stake AAVE to the Aave Safety Module - a safe backstop against protocol insolvency. For their contributions, they receive a percentage of profits generated from fees by the Aave Protocol as rewards.
Crypto Asset to Trade and HODL
You can trade AAVE against other crypto assets to profit from changing market conditions and volatility. Buy or sell Aave tokens against other cryptocurrencies, or hold AAVE if you believe in the long-term potential of Aave Protocol. Review the latest price of Aave, AAVE market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading Aave in the market.
How to Earn AAVE Tokens
There are several ways to earn AAVE crypto, including:
Trading AAVE on an Exchange
Buy or sell AAVE token against other crypto assets to profit from changing market conditions. This is one of the most profitable ways to grow your AAVE holdings, but it could be risky if you are inexperienced in crypto trading. We recommend carefully analyzing and researching the crypto market before trading AAVE.
Staking AAVE
You can stake AAVE on the Aave app or supported crypto exchanges and platforms. Staking AAVE is a safer option to earn interest in AAVE tokens and grow your holdings. Additionally, staking AAVE on Aave Protocol also enables you to improve the DeFi platforms security from insolvency and other risks.
Lending Liquidity on BYDFi
BYDFis Crypto Lending section lets you earn AAVE risk-free and conveniently. Use this feature to lend liquidity in AAVE on our platform over seven days, 14 days, or 28 days to earn daily interest in AAVE tokens.
What Are the New Features in Aave V3?
The third version of the Aave Protocol, Aave V3, was introduced in November 2021, offering a significant technological upgrade to the leading DeFi platform. Some of the enhancements in the latest version of this platform include the following:
Portal
This feature lets supported crypto assets seamlessly flow between various Aave V3 markets on different blockchain networks.
High-Efficiency Mode (eMode)
Borrowers can extract the maximum borrowing power from their collateral using this feature.
Isolation Mode
This feature limits exposure to newly listed assets on Aave, providing a specific debt ceiling for borrowing.
Improved Risk Management
Risk caps and other tools make Aave protocol more secure than before.
L2-Specific Features
This offers a better user experience and reliability on Layer-2 networks that Aave is deployed on.
Community Contribution
A more organized codebase drives higher engagement among the community and provides more incentives for participation.
Reduced Gas Fees
Aave V3 enjoys lower gas fees, bringing down transaction costs by 20-25% overall.
Multiple Reward Types
Users can enjoy rewards in multiple tokens on the same transaction made in Aave.
Improved Decentralization
Aave's decentralized governance system supports adding Risk Admins when updating conditions for listing new tokens.
