How to Buy WAVES
There are several ways to purchase WAVES coins. It can be through the traditionally centralized cryptocurrency exchanges, through the Waves decentralized exchange (DEX), and even from Waves clients using fiat money, cryptocurrencies, or credit cards via its partnerships with third parties.
As is the case with all of the other cryptocurrencies, it is always advisable to select a wallet that has been recommended by the project website since compatibility and security levels vary. The digital wallets and the developers of a particular blockchain tech consider specific wallets during the development phase or even developed their own like the Waves Wallet.
The first step in the process is to register an account with Beaxy by visiting Beaxy.com. Next, you must verify your account by submitting a driver’s license or passport.
Once your account is verified, add Bitcoin to your wallet by making a deposit or purchasing Bitcoin via the Simplex portal.
Now that you have BTC in your Beaxy wallet, go to the WAVES-BTC trading pair and submit a trade order for the number of WAVES that you want to buy.
WAVE’s Value and Price
WAVES Coin Details
- Coin Symbol – WAVES
- WAVES Price – $1.23
- WAVES ROI – $122,580,839
- Market Cap Dominance – 0.05%
- Trading Volume – $33,952,124
- Circulating Supply – 102,240,922 WAVES
- Max Supply – No Data
- Volume/Market Cap – 0.2779
- 24H Low/24H High – $1.21/$1.25
- 7D Low/7D High – $1.17/$1.26
- Market Cap Rank – No. 61
- All-Time High – $16.08
- All-Time Low – $0.130878
- Waves/Bitcoin Ratio – 1 BTC = 7575.4 WAVES
The price of a WAVES coin today is $1.23 with a 24-hour trading volume of $33,952,124 (as of June 19, 2020, 8:49 AM GMT). The price of WAVES was down by -1.7% in the last 24 hours. It has a circulating supply of 100 Million coins and a maximum supply of 102 Million coins. Currently, YoBit is the most active exchange in the market that trades WAVES coin. To explore addresses and transactions, you may use block explorers such as wavesexplorer.com, wavesgo.com, and wavesdesk.com. Additional information can be found on their website: https://wavesplatform.com/.
Advantages and Disadvantages of Trading WAVES
In this section, we will consider the advantages and disadvantages of trading WAVES cryptocurrency.
- Open-source trading software
Waves is one of the few decentralized cryptocurrency exchanges built on an open-source blockchain platform. It differs from most other cryptocurrency exchanges because it is built on blockchain technology and used not only for the exchange of digital assets but for crowdfunding through initial coin offerings (ICOs) as well. This unique project was created by Sasha Ivanov in 2016 which aims to foster a “new cryptocurrency environment.” Waves has built a completely different platform compared to the traditional features offered by other cryptocurrency exchanges. It is modified to create a unique Waves experience for its customers.
- Broad range of cryptocurrencies
Waves supports an impressively wide range of cryptocurrencies and plans on implementing almost all coins on its platforms. Fiat-crypto trading is allowed on the Waves platform and supports EUR, USD, and TRY cryptocurrencies. Fiat currencies are represented by tokens which have been a topic of discussion due to its unforeseeable future. Users can deposit fiat currencies to their accounts via bank wire transfers and credit cards. It is an excellent option as most exchanges do not accept credit cards as a valid form of payment. One of the main disadvantages of the platform stems from its low trading volume due to its decentralized nature.
- Secured and safe servers
The Waves exchange is really secured because of its decentralized nature. Its servers are scattered across the globe, so it is almost impossible for hackers to get a hold of all the servers and completely hack into the system. Even in the case of someone managing to break into the servers, they would not be able to access sensitive information about the users. It is because decentralized exchanges do not require personal data from users for them to register an account.
- Information privacy
As trading is done directly between two users, Waves does not need to verify identification or an address because it is not included in the transaction. Hence, hackers cannot access users’ personal information even if they did manage to hack all of the servers in the system. Users’ funds are also stored on their own devices, as the exchange does not save e-wallets on the platform. Everyone can trade on the platform without worrying about hacking or being a victim of any fraudulent activity.
- Wave’s crowdfunding space is already crowded
One of the important functions of Waves is that it provides a crowdfunding platform. However, there are already many competitive players in this area.
- Wave’s platform is not so easy to use
Waves Lite Client’s user interface is quite difficult to navigate. The underlying technology of Waves is also complex, so ease of use could not be expected. It makes it difficult for an average individual trying to enter the crypto industry and utilize the Waves platform to build or develop a user’s cryptocurrency or token.
- Few security concerns
The Waves platform does not implement Two-Factor Authentication (2FA). A trader’s Waves coin cannot be stored on the most popular hardware wallets such as Ledger and Trezor.
Best WAVES Wallet – How to Choose?
Digital wallets are virtual wallets that are used to hold cryptocurrencies privately and securely while not losing the flexibility to send the coins held to other exchanges or wallets.
Holding purchased coins on an exchange leaves the coin holder at risk of theft. Digital wallets are created to avoid multiple cases of theft on different exchanges.
The recommended digital wallet for WAVES tokens is available on the Waves platform website and is automatically generated when creating an online account. The wallet is described not only as easy-to-use, but also impressively-secured, thus ensuring that the client’s coins are safe. To access the Waves digital wallet, a fifteen-word phrase and a password are required.
While other wallets may exist, it is recommended to avoid using unsafe alternatives. The Waves Wallet is already an advantage because it can hold multi-cryptocurrencies at the same time.