HOW TO BUY AVALANCHE CRYPTO
If you are part of Telegram Channels that discuss Crypto topics, you have probably heard of Avalanche, an open-source platform for launching decentralized applications. There are several ways to acquire the governing coin (Avalanche). This article will briefly describe how to do it and what investment options you have when doing it via Binance. Note: This article doesn't constitute financial advice; you should take it as an informative text.
What is Avalanche?
Avalanche is a platform that allows users to build powerful, reliable, and secure applications and custom, private or public blockchain networks with complex rulesets. It can be basically used as a:
Decentralized Finance (DeFi): Avalanche is fully compatible with Ethereum assets, apps, and tools with faster speeds, higher throughput, and lower fees.
Institutions, Enterprises, and Governments: Avalanche is a verifiable platform for institutions, enterprises, and governments. You may launch assets, build applications, and create subnets with complete control over your implementation with compliance, data security, and other rulesets built into the foundation.
Non-Fungible Tokens (NFTs): You may mint NFTs in seconds for fees less than a cent, allowing you to prove ownership, and streamline value flow digitally. Applicable to create and share art, collectables, and more with all the benefits and none of the downside.
Binance: The Top Crypto Exchange to Buy Avalanche
Binance operates the world's leading cryptocurrency exchange in daily volume and transactions (1.4 million per second).
Beyond being the largest cryptocurrency exchange by volume, Binance offers multiple products and services; its core objective is to build a broad ecosystem in the blockchain sector. In this regard, this ecosystem consists of numerous variants. Of course, the cryptocurrency exchange stands out among them and the wallet services for its users, crypto laboratories (to launch new tokens), charity, information, and education, among many others.
Besides the fact that through Binance you may buy Avalanche tokens, it also provides you with other staking-and-earn-interest options. Let's mention them.
What Can I do with Avalanche tokens on Binance?
Besides the apparent Staking way of investing in Crypto, buying a token and holding it in the hope that its price will increase, Binance offers you to use the 'Locked Savings' feature: If you are committed to holding your Crypto for at least 15 days, you subscribe your Avalanche tokens to locked savings periods, you make higher interest earnings than the Flexible Savings feature. You have to be aware that you can't redeem your tokens on the Locked Savings feature, so if the price decreases rapidly, you won't be able to exchange your tokens.
Warning: EU's Supervisory Authorities opinion on Crypto Assets
As crypto-assets continue to attract public attention, the European Supervisory Authorities (EBA, EIOPA and ESMA – the 'ESAs') remind consumers that some crypto-assets are highly risky and speculative. As stated in the ESAs' February 2018 joint warning, consumers must be alert to the high risks of buying and/or holding these instruments, including the possibility of losing all their money.
Additionally, crypto assets come in many forms, but most remain unregulated in the EU. This means that consumers buying and/or holding these instruments do not benefit from the guarantees and safeguards associated with regulated financial services.
To conclude, Crypto Assets are complex instruments and come with a high risk of losing money rapidly. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money.