Wondering how to buy Waves and want to jump straight to the answer? You can buy WAVES today on Binance.US!
The Waves blockchain is an open-source platform for developers. It enables the creation of tokens and decentralized applications (dApps), similar to Ethereum. One of the key advantages of Waves is its simplicity. It does not require complicated smart contract technology, which is often needed for launching a cryptocurrency. This feature streamlines the process of token and platform development. The Waves network employs a combination of full nodes and light nodes. This structure supports the rapid creation of tokens and the development of decentralized applications.
If you're looking to diversify your cryptocurrency holdings, Waves may be a good option to do so. It competes with Ethereum but stands out in the blockchain sector. In this guide, Benzinga breaks down the step-by-step process on how to purchase WAVES easily and securely.
How to Buy Waves (WAVES)
Follow these easy and simple steps to successfully purchase WAVES.
1. Open an Online Account
To buy any type of cryptocurrency, usually you open an account with a cryptocurrency exchange or broker that offers the token you’re interested in. To create an account, you’ll submit a bit of personal information which may include your email address, phone number, your full legal name and home address. You may also be required to submit a copy of your driver’s license, military ID or passport for verification process.
2. Fund Your Account
After your account is open, you’ll be able to transfer funds and make a deposit. Many trading platforms facilitate payments through credit card or debit card, wire transfer and cryptocurrency deposit sourced from other exchanges and wallets. Choose your preferred payment method, follow the instructions, enter the deposit amount, and confirm any transaction fees.
3. Purchase Waves (WAVES)
When your account is funded, you’ll be able to place a buy order. Most crypto brokers offer access to multiple order types. The type of order that you place will determine how likely you are to see your order filled and the price you’ll pay for each coin. Here's a look at two of the most common order types you’ll likely have access to through your crypto broker.
- Market order: A market order is a request to buy a coin at the current market price, filled quickly by the broker. While market orders are more likely to be fulfilled, they offer less control over the purchase price.
- Limit order: A limit order allows you to buy a specific coin at a desired price. The order will be complete if the price meets your target; otherwise, it may not be filled, giving you control over your purchase price.
After you place your order, your broker will fill it following your instructions. If your order is filled, you’ll see your coins in your trading account.
WAVES Overview
WAVES is a blockchain platform that simplifies the creation and management of digital assets and decentralized applications. It was launched in 2016 by Sasha Ivanov. WAVES enables users to issue customized tokens for various purposes, such as fundraising through Initial Coin Offerings (ICOs) and loyalty programs. The platform features a unique leasing mechanism. This allows users to lease their WAVES tokens to full nodes in exchange for rewards, promoting decentralization. WAVES is recognized for its user-friendly interface and robust smart contract capabilities. Its focus on scalability makes it attractive for developers. Additionally, WAVES facilitates easy conversion between fiat currencies and cryptocurrencies through integrated exchange features.
As of writing, WAVES is trading for around $1.01 with a market capitalization of $117 million.
Where to Buy Waves (WAVES)
As crypto trading becomes more popular, there are now more options than ever to invest in both stablecoins and altcoins like Waves. Here are some of the best platforms where you can purchase WAVES.
How to Store WAVES Safely
A cryptocurrency wallet is a tool that gives you more control and protection when you store your tokens. There are two major types of crypto wallets: software and hardware wallets. A software wallet is a cryptocurrency wallet that must be connected to the internet in order to access your tokens. A hardware wallet, on the other hand, stores your tokens offline on a physical device.
If you plan on holding onto your crypto for a significant amount of time, we recommend storing your tokens in an offline, cold storage wallet. If you don’t already have a cryptocurrency wallet that’s compatible with ERC-20 tokens like Waves, consider a few of our top choices below.
- Best for Top-Level Security: Ledger Nano X
Ledger is among the most popular hardware wallets available and is best known for its high level of cold-storage security. It supports a variety of cryptocurrencies, including ERC-20 tokens, Ethereum and Bitcoin. The device features Bluetooth compatibility for accessing decentralized applications and can be quickly connected to a smartphone using the Ledger Live app.
- Best For:ERC-20 tokensVIEW PROS & CONS:securely through Ledger Hardware Wallet's website
- Best for Coin Support: Ellipal Cold Wallet
The Ellipal cold storage wallet supports over 7,000 tokens across 35 blockchains, making it highly compatible for storing multiple cryptocurrencies. It features a sleek design and a bright screen for easy management of holdings, with monthly updates adding new supported assets.
Trade or Sell Your WAVES Coins
After your order is filled, you need to decide if you want to actively trade your Waves coins or if you want to hold them long-term. If you decide to hold long-term, we recommend moving your coins into your hardware wallet as soon as your order is filled. This ensures maximum security and greatly limits the chance of being involved in a hack.
If you decide to become an active trader, you’ll capitalize on small price movements throughout the day and week instead of holding your coins long term. You may want to convert your Waves to a stablecoin (like Tether or USD). When the price of Waves rises, convert back to Waves when the price drops again.
Current Crypto Prices
The cryptocurrency market experiences significant volatility. Major cryptocurrencies can fluctuate by 6% up or down on a daily basis. Here's a quick look at how the crypto market is moving today.
Adding Waves to Your Crypto Collection
Adding altcoins to your cryptocurrency portfolio can be an excellent way to introduce more diversification into your investment collection. However, remember that the cryptocurrency market is still widely unregulated. If you do decide to invest in Waves (or any other coin), never invest more money than you can comfortably afford to lose.
About Sarah Horvath
Sarah Horvath is a prominent freelance senior copywriter renowned for her expertise in cryptocurrency. As one of the leading voices in the industry, Sarah’s insightful analysis and comprehensive understanding of cryptocurrency trends have made her a sought-after contributor to major finance sites. With a focus on providing clear, accessible information, Sarah empowers readers to navigate the complex world of cryptocurrency with confidence. Her dedication to delivering high-quality content has established her as a trusted source for cryptocurrency enthusiasts seeking valuable insights and guidance.