Aave AAVE

AAVE is a decentralized platform based on the Ethereum network that allows users to borrow, lend and earn interest on crypto assets without any intermediary.

Aave is a system of smart contracts that enables assets to be managed by a distributed network of computers running its software. This means Aave users do not need to trust a particular institution or person to manage their funds.

Users who want to lend or borrow must pay a certain collateral. For example, if a person wants to borrow $100 worth of Ethereum, he/she must first make a deposit of more than $100 in another cryptocurrency. Collateral is placed in the so-called. lending pool, something like a mutual fund.

When someone wants to take a loan, they get the amount from this mutual fund.
To make the whole process easier, Aave issues 2 tokens:

AAVE cryptocurrency and aToken.

AAVE is the nativecryptocurrency within the Aave network. Users who use the AAVE token as collateral may receive a discount on transaction fees, while users who borrow the AAVE will not be charged a fee.

aTokens are issued when assets are deposited into Aave’s liquidity pool in a ratio of 1:1. They are marked according to the cryptocurrency stored. They are burned when they are restored.

At the time of writing this text there are 3,433,293 AAVE coins. The maximum supply of AAVE coins is 16,000,000.

One of the biggest advantages of the Aave network is easy lending and borrowing without the need for third parties.

Users can borrow more than 20 cryptocurrencies. Compared to other DeFi platforms, Aave has one of the largest cryptocurrency offers.

Also, a big advantage of the Aave platform is the security it provides to its users. In addition to loans, Aave provides users with the opportunity to earn passive interest income from the amount they deposit in a mutual fund (pool).

Another great benefit of Aave is “rate switching”. The user can choose between fixed and floating interest rates. The most popular choice are fixed interest rates because they provide protection in the event of large changes in prices in the cryptocurrency market.

Aave is a decentralized open source platform that uses the Proof-of-Stake (PoS) protocol to validate transactions, meaning it can’tt be mined in the classic way (like Bitcoin).

Holders can lock a certain number of AAVE tokens into a shared pool and receive a certain reward in the form of interest.

Stani Kulechov is the founder of the Aave platform. Aave's predecessor was ETHLend. As a reason for founding the Aave platform, Kulechov cited a lack of applications for crypto loans on the Ethereum network.

On the Bitcoin Store platform, you can easily buy Aave and more than 130 cryptocurrencies at the real-time exchange rate with the lowest fees.

First, you need to create and verify your account on the Bitcoin Store cryptocurrency trading platform to get full access.

After successful verification you can make a deposit (in HRK or EUR) to your Bitcoin Store Wallet.

Supported payment methods for deposit are:

Once we receive your payment, funds to purchase cryptocurrencies will be available on your Bitcoin Store Wallet and you can start purchasing cryptocurrencies.

On the Bitcoin Store platform, you can easily sell more than 130 cryptocurrencies from our offer at the current exchange rate.

You can instantly sell cryptocurrencies that are stored on your Bitcoin Store Wallet.

Cryptocurrency stored on personal wallets such as Exodus, TrustWallet, Ledger, Treasury, etc., or on various trading platforms must be transferred to your Bitcoin Store Wallet before selling.

Once the transfer is successful you can sell your cryptocurrency. You can withdraw the funds directly to your bank account or keep them on your Bitcoin Store Wallet and use them for future cryptocurrency purchases.

You can buy and sell cryptocurrencies for cash in Bitcoin Store exchange offices in Zagreb and Split.

Verifying your identity via ID card is not required for all transactions up to HRK 15.000,00

In the exchange office, you can also make a deposit in cash directly to your Bitcoin Store account. The amount you deposit will be visible immediately and ready for your next cryptocurrency purchase.

You can store Aave in your digital wallet. When it comes to cryptocurrencies, digital wallets can be divided into 2 groups - Hot Wallets and Cold Wallets.

Hot wallets include:

Cold Wallets include:

You can also store AAVE on your own Bitcoin Store Wallet. The access and storage of cryptocurrency are free for all users who register on the Bitcoin Store Platform.

On Bitcoin Store Wallet you can:

On 2022-07-04 the current Aave price/exchange rate is 54.55 EUR.