How to Buy Waves in the UK

A Beginner’s Guide to Buying and Selling Waves Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

 If you’re based in the UK and wish to buy Waves – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Waves tokens you want to buy.

This year has been marked by an increased number of trading activities related to cryptocurrencies. Unlike previous years, this year has drawn people towards tokens other than Bitcoin. Such tokens include Waves (WAVES). 

Waves token is a decentralized trade based on the Waves blockchain. It enables clients to exchange their BTC/ETH/and so on in return for Waves (or some other resource token issued on the Waves stage). The token was launched in 2015 and has tremendously gained in recent months, making it a worthy investment.

This guide will take you through buying Waves tokens and how you can make money by selling the tokens at a higher value. Before buying crypto using this guide, you need first to understand that crypto investments are precarious. While the returns may be good, the losses can be massive. 

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY WAVES IN THE UK
  2. A Step-by-step Guide to Buying Waves
  3. How to Sell Waves
  4. Which Wallets can I Use to Hold Waves?
  5. How Waves Token Works
  6. Key Things to Consider before Buying Waves in the UK
  7. Conclusion

QUICK GUIDE: HOW TO BUY WAVES IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Waves
  5. Enter how many Waves tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide to Buying Waves 

To start buying Waves tokens, follow the below steps: 

Step 1: Register an exchange account 

The first step is to register an account on an exchange account. There are many exchanges in the UK regulated by the Financial Conduct Authority. Before opening an account, confirm whether the exchange supports Waves tokens and the GBP. 

Once you have settled on the exchange you want to use, you can now create your account. Account opening is relatively easy. All you need is your official name, phone number, and email address. Because of the heavy regulations imposed on the crypto sector, exchanges are now required to comply with Know-Your-Customer (KYC) rules. To abide by these rules, you need to provide your proof of identity and proof of address. 

To enhance the security of your account, you need to provide a multi-factor authentication process. 

Step 2: Fund the account

After you have successfully created your account, the next step is to fund your account. To do so, you can deposit GBP to the exchange from your bank account. This allows you to buy Waves tokens using fiat currency. 

If your exchange does not enable you to buy waves tokens using fiat currency, you can purchase other cryptocurrencies. The exchange will list several cryptocurrency pairs that you can use to complete your purchase, such as BTC/WAVES or ETH/WAVES. If you do not already own these cryptocurrencies, you can start by buying them and exchanging them for Waves. 

Step 3: Buy Waves 

Now that you have funds or cryptocurrencies in your account that you can use to buy Waves tokens, the third step is to go to the buying section on the exchange. Enter the amount of GBP or crypto you want to exchange for Waves tokens and confirm your order. You will receive a notification after your transaction has been completed. Your new Waves tokens will appear on the exchange account. 

There are two ways that you can purchase Waves tokens: a market order or a limit order. With a market order, the tokens will be bought automatically at the prevailing market prices. With a limit order, you can select the price you would prefer to buy the tokens at. The order will automatically be completed when that price is reached. 

Step 4: Store your Waves coins in a crypto wallet 

After buying crypto, you need to find a way of storing your tokens. Cryptocurrencies are stored in crypto wallets. Exchanges usually offer an online wallet where you can hold tokens and retrieve them whenever you want to trade. 

If you want to keep your Waves tokens locked away for a long time without trading, the most preferred wallet would be a cold hardware wallet. The wallet keeps your tokens offline and minimizes the risk of them being lost. Cold wallets are also a great option if you are buying large amounts of Waves tokens. 

How to Sell Waves 

Selling Waves tokens is also as easy as buying the tokens. The first step is to remove the tokens from the crypto wallet and back to the exchange. Afterwards, you can go to the sell option to exchange and trade your Waves tokens for GBP. 

However, some exchanges may not allow the direct exchange of Waves tokens to cash. In such an instance, you can exchange Waves tokens for other cryptocurrencies such as Bitcoin, which you can later convert into cash. 

Which Wallets can I Use to Hold Waves? 

As mentioned earlier, there are two main categories of crypto wallets. You can store Waves tokens in a hot wallet or a cold wallet. There are many crypto wallets available. The only thing you need to do is select one that will be compatible with Waves tokens. 

If you are a frequent trader, you do not have to remove your crypto from the exchange and into another wallet. Most exchanges offer mobile wallets through an App. However, if you want something safe and secure, cold offline wallets are the best option. 

How Waves Token Works 

Like other altcoins, Waves was created to solve the limitations present on the Bitcoin network. WAVES is used to create custom tokens and to pay for transaction fees. The token is highly scalable, and its network offers high transaction speeds compared to Bitcoin’s network. Even though recently created, Waves tokens have grown to become one of the most popular cryptocurrencies. The Waves network is a protocol used to create and connect Ethereum-based blockchain networks. 

Key Things to Consider before Buying Waves in the UK 

Before investing in Waves tokens, you need to consider the following: 

Availability 

The first thing you need to consider is the availability of Waves tokens in the market. You should invest in Waves if there is enough in circulation. This will make it easier for you to fill your buy and sale orders. 

Performance 

You need to also look at Waves’ price history. Evaluate its lowest prices and its all-time highs to understand how the level of volatility. It would be best to look at the number of projects supported by the Waves network because this also affects Waves tokens. 

Competition 

Look at Waves’ competitiveness in the crypto market. The coin should be competitive enough not to be overshadowed by other major cryptocurrencies such as Bitcoin and Ethereum. 

Conclusion 

Waves token has made waves in the crypto sector after becoming one of the leading cryptocurrencies. The token’s value has increased for the better part of this year, making it a valuable investment. If you want to buy Waves tokens, open an exchange account and store your currencies in a secure crypto wallet. 

eToro – Best Platform to Buy Cryptos in the UK

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

Top Brokers in