How To Buy Aave (AAVE) In Australia

Last Updated November 21st 2024

6 Min Read

A Beginner’s Guide to Buying Aave Cryptocurrency in Australia

If you’re based in Australia and wish to buy Aave – the process is very simple. All you need to do is find a regulated online exchange that offers competitive fees, deposit some funds and decide how much you wish to buy.

The decentralized finance (DeFi) space has received increased attention in recent times. Aave is one of the most popular DeFi protocols that run on the Ethereum blockchain. It has a wide user base, with the AAVE token used as a form of reward for lenders. Lenders can earn interest when they deposit assets into specially created liquidity pools while borrowers can take out a flash loan using their crypto assets as collateral.

AAVE serves as a governance token and provides holders with discounted fees on the platform. Many crypto newbies do not know where or how to buy Aave in Australia. However, the guide below will provide all the details they need.

What's in this guide?

The guide explains where to buy Aave in Australia, how to buy the token, and how to sell it. This guide also provides information about the Aave protocol and how it works. You will also get to know some vital things you need to consider before buying the cryptocurrency.

How To Buy Aave In Australia – Quick Guide

To help you buy Aave coins as quickly as possible, we broke the process down into a few easy steps:

Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time.
Step 3: Deposit – Fund your new eToro account with a minimum of $10.
Step 4: Search for Aave on eToro – Search for Aave in the eToro crypto market.
Step 5: Buy AAVE – Enter the amount of the worth of Aave you want to purchase in United States Dollars (USD), then click Open Trade.

That’s it! By following these easy steps, you can invest in Aave in Australia in less than 5 minutes.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Buy Aave In Australia

If you are new to the world of cryptocurrencies or probably do not know where to buy Aave, the best option for you is to head over to a cryptocurrency exchange. As a DeFi token, Aave is offered on trading platforms in some of these exchanges and all it takes is to register and fund your account to purchase the token.

List of the best Exchanges to buy Aave in Australia:

Looking where to buy Aave in Australia right now? Below you will find 4 of the best brokers that allow you to buy Aave in Australia.

eToro - Best broker to buy Aave in Australia
Binance - Best exchange to buy Aave in Australia for asset diversity
Coinbase - Best exchange to buy AAVE for beginners
OKEx - Best broker to buy AAVE in Australia for low-cost

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

A Step-by-step Guide To Buying Aave In Australia

If you’re looking to buy Aave in a crypto exchange in Australia, you have two options: buying Aave with fiat currency and buying with another cryptocurrency.

Buying Aave with other cryptocurrencies

If you already have another cryptocurrency in a wallet, it will be more convenient to buy Aave by depositing the crypto asset into a crypto exchange. With the funds, you can choose the trading pair you want and buy Aave quickly. Most cryptocurrency exchanges accept deposits with other crypto assets such as Bitcoin (BTC) and Ethereum (ETH), so it will not be difficult to find an exchange to register with.

Buying Aave with fiat currency

This is the obvious option for you if you don’t have any stored cryptocurrency in a wallet. In this case, you need to look for a crypto exchange that accepts fiat (AUD) deposits. The guide below will show you how to buy Aave in a crypto exchange using fiat currency.

Step 1. Register for an account with an exchange

The first step is to find an exchange that will allow you to fund your exchange account with fiat currency. You will have limited options here, but you are going to find out that some of the major exchanges offer such options. Once you’re chosen the crypto exchange, proceed to their registration portal and provide the information needed to create your account.

Step 2: Deposit funds into your account

After registering with the exchange, the next thing is to fund your account through credit card, debit card, PayPal, or direct bank transfer depending on the options they provide. Also, you may have to consider the deposit fee for each payment option to select the cheaper and more convenient one for you.

Enter the amount you want to deposit and fill in your payment details. Once the transaction is approved, the fund will be credited to your exchange account, and a notification sent to your email.

Step 3. Buy Aave

When you have the funds in your account, you can proceed to the market section to buy Aave. In the portal, select the order type you prefer. Most exchanges have different types of orders, but the most common is the market order and limit order types. The limit order is especially useful if you’re expecting a fall in the price of Aave. In this case, you can select a predetermined price at which you want to buy the token. Once the price of Aave fall to that price, the order is activated and executed.

Remember to review your order before submitting it to make sure what is being executed is correct. As always with all exchanges, the amount of Aave you ordered will be deposited to your exchange account immediately after the order is filled.

Check Out: 17 Reasons Why You Should Invest in AAVE Today

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

How To Sell Aave

If your Aave token has appreciated and you want to sell to make a profit, you still have to follow a similar process in step 3 above. Navigate to the market section on the portal and select the right Aave pair you are selling. Enter the details of the transaction and the amount of Aave you want to sell. Once the order is executed, an email notification will be sent to you.

Which Wallets Can I Use To Hold Aave?

After you have bought the Aave token, you may need a crypto wallets to store them. You have two major options when it comes to storing your Aave tokens in a wallet. You can store Aave in a hardware wallet or a software wallet. The hardware or cold wallet is the safest option because it is not exposed to the internet.

How Aave Works

AAVE is the native token of the Aave lending protocol, which was rebranded from EthLend in 2017. The primary use case of AAVE is the governance of the Aave protocol, ensuring decentralized control of the platform. It also gives holders the opportunity of voting on the management and improvement of the platform.

Read Also: Aave (AAVE) Price Prediction

Key Things To Consider When Buying Aave In Australia

There are several things to consider before buying Ave in Australia, which includes;

Competition

The Aave protocol and its token is not alone in the market. Several other projects are similar in usage and operation. This makes it a hindrance for the token when it comes to wider acceptance.

Market risk

There is no doubt that several factors can pose a risk in the crypto market, including price volatility and the risk of a hacking incident. This is why it’s important to conduct enough research about the protocol and its token before investing. It’s also vital to practice high-security measures such as two-factor authentication to provide further protection to your account.

Regulatory concerns

Regulatory authorities can have a massive influence on the price of a token, especially when the cryptocurrency falls into their wrong books. Fortunately, Aave does not have any regulatory issues, but it’s important to have a regular check on its legal statutes.