A question that has been popping up on social media from a lot of crypto newbies is “Where can I purchase Waves?” or “How To Buy Waves?” Fortunately for you, it’s a short, easy process.
Step 1: Create an account on an exchange that supports Waves.
To buy Waves, you’ll need an account on a cryptocurrency exchange that supports Waves.
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To signup, the exchange may require some basic information like your email address, password, full name, and sometimes your address or phone number.
On some exchanges, you might also need to complete a KYC (Know Your Customer) section, in order to be able to purchase cryptocurrency. This usually happens on licensed and regulated exchanges.
Step 2: Deposit funds into your account.
Most cryptocurrency exchanges will allow you to purchase Waves (WAVES) via fiat currency, like USD, EUR, AUD, and more. They might also let you fund your account with a few methods, including credit and debit cards, e-wallets, or direct bank transfers.
Although these cryptocurrency exchanges may allow multiple payment methods, some methods will have higher fees than others, such as credit card payments. Before funding the account on your cryptocurrency exchange, make sure to do some research to find out the fees involved to minimize costs.
Step 3: How to buy Waves Officially
This part of the process is the same across most cryptocurrency exchanges. Locate a navigation bar or a search bar (usually at the top of the webpage) and search for Waves (WAVES) or Waves (WAVES) trading pairs. There will be a section that allows you to buy Waves (WAVES) by entering the amount you would like to spend towards buying Waves (WAVES). The exchange will automatically calculate the amount of Waves (WAVES) you will be able to purchase using the current market rate.
It’s important to make sure that you double-check your transaction details so that you purchase the correct amount of Waves (WAVES). These cryptocurrency exchanges might also provide you with their own proprietary software wallet to store your cryptocurrencies, but if you’d like you can create your own individual software wallet, or purchase a hardware wallet in order to achieve the highest level of protection.
For even more in-depth instructions, check out our Absolute Beginners Guide to Cryptocurrency Investing for a step-by-step process. Furthermore, if you’re completely new to crypto you can use our beginner, intermediate, and advanced level articles to learn everything you need to know about the cryptocurrency space.
What is Waves (WAVES)?
Waves (WAVES) is a community-based stack of open-source, decentralized technologies that can be used to build scalable, user-friendly apps. Waves (WAVES) directly allows NFTs, DAOs, and similar communities to deliver fast experiences with low costs over the blockchain. Waves also aims to maintain a small carbon footprint and eventually be able to be bridged into other ecosystems for standardization of the technology.
How does Waves (WAVES) work?
Waves (WAVES) allows users to take a completely new approach to decentralized application development. Waves (WAVES) enables users to avoid gas and non-Turning-complete language, keeping the system secure and reliable. To write smart contracts for Waves (WAVES), users can use the Waves native language called Ride. Ride has developer-friendly syntax, and is very straightforward for all expertise ranges of developers, making it easy and intuitive.
Who founded Waves (WAVES)?
Waves is founded by Sasha Ivanov, who is a Ukrainian-born scientist. Before Waves, Ivanov spent his time working on the now-taken down instant exchange Coinomat, as well as the indexing site Cooleindex. He was one of the early pioneers of the stable coin, with CoinoUSD, which was tied to the US Dollar.
The company itself employs over 180 people from Moscow to Switzerland. Their official website is https://waves.tech.
Ivanov can be found giving frequent interviews on the platform and sharing his opinions on market trends within the blockchain industry.
What is the Waves (WAVES) token?
The WAVES token is what keeps the Waves network operational.
WAVES is used to allow people to create custom tokens and then pay for transaction fees. There will only ever be 100 million Waves. Ownership of WAVES cryptocurrency allows people to get to add new blocks to the Waves blockchain and earn a share of fees paid for transactions.
If a user would want to become a “full node”, they’d need a WAVES balance of 1,000 WAVES. If you don’t have that minimum balance, you can lease other nodes for 0.002 WAVES.
BEST CRYPTOCURRENCY WALLET FOR Waves (WAVES)
There are lots of crypto wallets available. The ideal one for your use case depends on your general trading habits and your desired security. There are two main types of wallets: hot storage wallets (which are digital) and cold storage or hardware wallets (which are physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH CRYPTOCURRENCY WALLET TO USE FOR Waves (WAVES)?
Deciding which type of wallet to use depends on a variety of factors, including:
- If you trade often, hot wallets allow for more active cryptocurrency trading. The ability to Quickly login allows you to be only a few taps away from buying and selling your crypto. Cold wallets are better if you plan to make trades less frequent.
- As we mentioned, not all wallets support all different types of cryptocurrencies. However, the best crypto wallets will have the power to trade hundreds of different currencies, providing more broad experience.
- If you’re worried about security, a physical cold wallet stored in a safe deposit box at the bank or somewhere in a safe at home provides the most secure option. If you’re confident in your ability to keep your seed phrase secure, a hot wallet may be the answer for you.
- If you’re worried about costs, most hot wallets are free to set up. However, cold wallets are actual hardware, so they cost money to purchase.
- Many hot wallets come with analytics features that allow you to look at market insights, trading history, and current prices. Cold wallets usually have some added security features as well.
For a more in-depth cryptocurrency wallet analysis, visit our “Wallets Explained” Guide.
If you’re dealing with large purchase volumes, you might be interested in purchasing a cold storage wallet, like a Ledger Nano or a Trezor.
Ledger is one of the leading manufacturers of cold storage wallets for users who need increased security for their cryptocurrency wallets. Their hardware connects to your computer, and only allows you to send cryptocurrency if you’re connected to your device. There’s a variety of colors and products, including the Ledger Nano S and the Ledger Nano X.
Trezor is another hardware wallet. Trezor has a super intuitive interface and has compatibility with desktop wallets, making it the perfect wallet for beginners or experts. Trezor has gained a lot of the cryptocurrency community’s trust over the years, with its Trezor One and Trezor Model T options.
Market Overview for Waves (WAVES)
The latest trade volume, market cap, and other vital information can be found on Coinmarketcap, the go-to for all financial information regarding cryptocurrencies.
You’ll be able to find info regarding
- The trading volume over various periods of time
- The current market price of all cryptocurrencies
- Circulating and total supplies of most coins
- Historical charts with prices relative to USD, BTC (Bitcoin), or ETH (Ethereum).