Aave Cryptocurrency Review (AAVE) | Trader Reviews

05-07-2021

Aave is a credit protocol in decentralized finance. It can be used to lend or borrow digital assets at interest. The Aave token is used for decentralized management of the platform. It can also be used in staking to generate passive income on commissions and fees. 

Capitalization $3 080 612 724
Tokens in circulation 12 825 599
Blockchain Ethereum 
Token standard ERC-20

AAVE main page

Features of the project and the Aave token 

The Aave project was launched in 2017. The founder of the company, Stani Kulechov, at the time sought to develop a platform for lending in the Ethereum network. The project was being created even before decentralized financing was available. Initially, it was presented at the ICO under the name ETHLend. In 2018, the developers decided to rebrand it, which included changing the name of the token and adding new financial instruments to the platform. In 2020, the next update of the protocol was released – AaveV2. The new version features improved management and interaction with instant loans.

The company has issued 1.3 billion Aave coins (LEND). ICO statistics show that the team managed to raise more than $16 million in investments while selling 1 billion altcoins. The cryptocurrency originally had a service purpose in the ETHLend network. The platform’s tokens provided benefits to its users in the form of betting rewards, preferential commissions, etc. After the rebranding, the functions of the LEND coin expanded to include platform management. Thus, cryptocurrency holders can vote for innovations proposed by developers, the value of the interest rate, and new assets. 

AAVE Price chart
Aave Price Chart (AAVE)

✅ The benefits of cryptocurrency

Aave coins can be used in trading or stored in an electronic wallet. As of July 1, 2021, this crypto-asset ranks 28th among all cryptocurrencies in terms of capitalization. 

Since the cryptocurrency platform’s native token is based on the Ethereum network, all transactions and investors’ personal data are encrypted and inaccessible to third parties. Deposit/withdrawal of funds to the e-wallet is carried out without intermediaries. At the same time, financial transactions are conducted almost instantaneously anywhere in the world.

AAVE Testimonials
AAVE Testimonials

❌ AAVE disadvantages

Very much like all resources, AAVE is more than a little flawed. Insofar as it is crypto exchanging resource, its value history has high points and low points. There are a few highlights of the loaning convention that could contrarily influence its cost. Allow us to investigate the dangers of putting resources into AAVE.

  • Not so easy to use as a portion of the other options;
  • A little rundown of upheld e-wallets;
  • Needs high impetuses for clients to loan or acquire;
  • Streak credits have been taken advantage of by programmers before.

Where to buy and store Aave cryptocurrency 

You can buy coins through a trader’s personal account on exchanges:

  • Binance;
  • Uniswap;
  • MXC;
  • CoinTiger;
  • Balancer;
  • BigONE;
  • Hotbit, etc.

To store cryptocurrency, you can use wallets MEW, Trust Wallet, a hardware safe Ledger Nano.

Conclusion

As of July 1, 2021, more than 80% of Aave coins are in circulation on the market. If the supply of this crypto asset decreases over time, its value will increase. The LEND rating, positive feedback from traders, and the growing popularity of DeFi projects indicate that the coin is in demand and likely to appreciate in the near future.

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