Learn how to buy Avalanche. Avalanche is the result of a project developed in September 2020 by a group of students from Cornell University. It is based on a system of smart contracts and has the fundamental objective of making transactions faster and more efficient. Its main features are: the ability to perform a high number of transactions per second, decentralization and low energy consumption. Let’s find out why and how to buy Avalanche (AVAX).
Why buy Avalanche
Avalanche is a new type of crypto, innovative in many ways. The speed with which transactions can be carried out makes it much more efficient than other cryptocurrencies. Next to the number of executable transactions, we find the low energy consumption, which allows for better performance at a lower cost. An additional advantage of Avalanche is the purchase method: the Avalanche crypto can be purchased in one of the safest and most accessible platforms on the market, Binance.
Where to Buy Avalanche
You can buy Avalanche directly on Binance, one of the leading trading platforms. Buying Avalanche cryptocurrency on Binance is very intuitive and you just need to follow a few simple steps on the platform to buy the crypto very easily. The first thing you need to do when you enter Binance is to register, next we indicate the necessary steps for registration.
How to Create an Account
In order to register on Binance, you just need to access the official website Binance.com and click on the Register button. You can sign up to the site using your mobile number or email, these must be entered on the registration page. On the same page you will be asked to create a password and, after accepting the terms of service, you can click on Create Account. The password must have at least 8 characters, at least one of them must be uppercase and must contain at least one number. In the registration page you will be optionally asked for your referral ID, a code that you have only if you have been invited to register on Binance.
Next comes security verification, where you will be asked to complete a puzzle, and account verification. To verify your new account, you will be sent a code to the email address you entered or to your mobile number. You’ll have to enter the code you received directly on the site, typing it in the boxes present in maximum 30 seconds, after which time just ask for a different one to be sent on the button on the verification screen.
Once this last step the registration on the platform Binance is completed. For greater protection of your account you can go to the Dashboard section, where you can request the activation of 2FA, two-factor authentication with phone verification and Google verification.
How to Deposit Money to the Account
Binance is one of the most widely used Exchange platforms, within this you can trade between cryptocurrencies or between traditional and crypto money.
To deposit cryptocurrencies to your Binance wallet you just need to enter your Binance account and select the Wallet button, within this page you will need to click on Deposit Crypto. In the deposit section you’ll have to choose the cryptocurrencies you want to deposit and the deposit network, paying special attention in the network selection is fundamental: if you don’t select the same network from which you withdraw the funds you’ll lose the cryptocurrencies. At the top of the page you will be able to see all the networks you have available, just check the network corresponding to the wallet/exchange you are withdrawing from. After confirming the withdrawal it is possible that a few days may pass before the deposit is received by the platform, this may vary depending on the turnout on the selected network. The status of the deposit can be checked in the transaction history, here you can also check information about transactions carried out recently.
At Binance you can also deposit , by credit card or SEPA bank transfer account. After logging into your account, enter the Buy crypto tab, select the currency and click on Bank Deposit. From this page click in the FIAT section and select the EUR and SEPA bank transfer option. At this point you will need to type in the amount you prefer and enter your bank details. Follow the instructions on the screen until the end. You have now completed your deposit by SEPA Bank Transfer. Payment processing takes 1-3 days, in the case of instant transfer the deposit will be made within 30 minutes of execution.
How to Buy AVAX on Binance
On Binance you can buy AVAX either with a credit card or via Binance balance. Let’s find out in detail how to do it.
To buy Avalanche by credit or debit card, log into your account and in the top left part you will find the Buy crypto EUR section, from here you can select the credit/debit card option. To make the transaction official click the Next button.
To buy AVAX using the available balance on Binance, you have to type the FIAT amount you want to spend, the Binance system automatically calculates the number of cryptocurrencies you will receive in proportion to the amount you choose. In case the balance is not enough you will be redirected to the deposit.
Costs and Commissions
For every transaction you make, Binance retains commissions. Commissions are not directed to Binance itself, but are costs it incurs for transactions to be successful. Also, you cannot withdraw money below a certain threshold limit. Visit the official Binance website to see all the commissions and costs provided by the platform in detail. Both the minimum withdrawal threshold and the fees are variable and depend on factors such as the level of network congestion.
Final Thoughts: Opinions and Reviews
Buying Avalanche is very simple and intuitive by following the steps described on the Binance platform. On the site, the user has the possibility to perform heterogeneous operations regarding the management, use and exchange of their cryptocurrencies.