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What is AAVE and how can you start investing?

The cryptocurrency market always has something new to offer every year. Whether it be new cryptocurrencies, technology or exchange platforms, traders always have various options on how to further their investments. In this case, AAVE cryptocurrency is here to change the game for you. Learn more about it in the coming sections:

Getting started with AAVE cryptocurrency

As a digital asset and an innovative platform suited for decentralized finance trading, AAVE cryptocurrency holds a lot of potential in the crypto market. Since it was first launched in 2017 in Switzerland, founder Stani Kulechov was able to raise $16.2 million in AAVE’s initial coin offering (ICO). 

At the time, it was named ETHLend until eventually transitioning into the name ‘AAVE’, meaning ‘ghost’ in Finnish. The funds moved from 1 billion LEND tokens to 18 million AAVE after the transition was complete, which took place a year later in 2018. 

The launch of the AAVe cryptocurrency brought about the use of crypto pooling and fund management services. Other offerings of the platform came in the form of offerings such as a payment system, trading desks made specifically for large transactions and even game studios that relied on their blockchain technology! 

The brand has been going strong to this day and now offers features like pooling funds, gaining interest in crypto investments and so much more. Users can also create instant loans for lending or borrowing crypto with other people on the AAVE platform. Another major selling point of AAVE is that it can help traders gain interest in their transactions, which is not something that crypto is known to offer. 

As of today, AAVE cryptocurrency holds the 49th spot on CoinMarketCap’s list of biggest cryptocurrencies based on market capitalisation. It has a current price of $164.23 and a market cap of $2.22 billion. Its total supply runs at 16 million AAVE with 13.4 million currently in circulation, which totals around 84% of the total supply used. 

Curious to delve deeper into the inner workings of AAVE cryptocurrency? Learn more about what it offers and how you can benefit from it in the coming sections! 

Understanding the AAVE ecosystem and what it offers 

There are a lot of platforms and cryptocurrencies nowadays that claim to offer excellent and unique services. However, traders these days need to learn how to narrow down their scope and work with digital currencies that truly cater to their needs. This is where AAVE and the overall ecosystem come into the picture. 

One of the main selling points of the AAVE platform and cryptocurrency is that they allow traders to earn interest when trading or depositing crypto. This can be done through the lending pool for others to use for borrowing purposes. Earning interest from your investments is foreign in the crypto market and is usually associated with banks or fiat money. 

Users can also use the flash loan feature that lets them instantly borrow huge amounts of money with no additional collateral. However, they need to pay their loan plus an additional small fee before the block is initialized. This reduces risks and helps the trader maximize profits. 

Whether you wish to buy or sell AAVE or take your chances on what the ecosystem has to offer, you won’t be disappointed with AAVE’s unique list of crypto services.

Why should you invest in AAVE? 

With everything that you have learned about the AAVE digital currency and what the ecosystem has in store for traders, why should you actually consider adding it to your list of investments? Take a look at some of the reasons why you should invest in AAVE and reap the benefits of using the platform: 

Experience services that are rarely offered in the crypto market 

As previously mentioned, AAVE has a lot of special offerings that are not typically endorsed by cryptocurrencies or other platforms in the market. From earning interest with trading and deposits to pool-lending, traders can take their pick and make use of different tools that can be used to further their investments. 

Open-sourced, non-custodial investments 

Similar to blockchain technology, AAVE and its services are completely open-sourced. This means all users can enjoy transparency and be a part of the ecosystem with peer-to-peer reviews. It also offers lower risk to hidden projects or fees. 

Aside from the platform being open-sourced, it also identifies as non-custodial, which means that the platform does not directly hold or manage your funds. While using it as a tool is necessary, traders still have control over these decentralized services along with the added benefit of transacting anonymously. Hence, the name Aave, which means ghost.  

Earn rewards and gain exposure 

Since gaining interest is one of the main selling points of AAVE, traders will have the opportunity to earn rewards all while trading and gaining exposure for their investments. This means traders can invest in digital assets without owning them outright, giving them more opportunities to earn profits and minimize losses. 

Enjoy convenience and efficiency while trading 

With all of the different offerings that AAVE puts forward for its traders, it’s no secret that both the cryptocurrency and the platform offer convenience. AAVE is the best option whether traders wish to complete transactions with it, get a chance to gain interest in deposits or simply make use of more tools to further their crypto investments.

A variety of cryptocurrencies supported

One of the main deciding points for investors is whether or not their trading patterns and preferred cryptocurrencies will be supported by the platform of their choosing. Well, the AAVE platform supports a variety of cryptocurrencies such as Ethereum (ETH), Binance USD (BUSD) and Tether (USDT) to name a few that you can lend or borrow.

Learn more about AAVE and all things crypto at Cryptoshimbun! 

Now that you know all about AAVE and what the digital currency has in store for you, it’s time to take the leap and start investing for yourself! Research is the first step to learning more about a new investment venture, then it’s time to dive in and reap the benefits for yourself.  

Start by creating an account on the AAVE platform and exploring what it has to offer. A unique and game-changing trading experience awaits. Invest in AAVE cryptocurrency today and learn more about it along with all things crypto here at Cryptoshimbun! 

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