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Avax Token is the world’s first token that enables businesses to focus on what they know best: their core business. The Avax Token ecosystem has been built in two phases to provide enterprises and organizations with a single, low-cost platform to deploy, manage and monetize their digital customer engagements.
In this blog post, you will learn more about what the project is all about, how it works (in simplest terms), some of the key benefits for companies from all verticals and why it is an excellent solution for businesses of all sizes.
Let’s get started.
In This Post:
- Where can I buy Avax in the United States?
- Is Avax a Good Investment?
- Can I buy Avax on Coinbase?
- How do I Get Avax on Coinbase?
- Can I buy Avax on Binance?
- How do I get Avax on Binance?
- What is Avax Used For?
- How Many Avax Coins Are There?
- How Does the Avax Network Work?
- Can you stake Avax?
- How Much Can You Earn Staking Avax?
- Wrapping Up
Where can I buy Avax in the United States?
The easiest way to buy Avax is through Coinbase.com. Coinbase is the most trusted and well-known exchange in the United States, so it will likely be one of the first options you have to buy Avax.
Coinbase also offers support for a large number of cryptocurrencies, including Avax. Sign up with Coinbase using your email address and password to start trading. If you don’t have an account yet, go to the website and click “Sign up” under “Buy Bitcoin” or “Buy Ethereum” on the top right corner of the page.
When you are ready to buy Avax, you will need to purchase Bitcoin or Ethereum from your wallet or exchange platform (such as Binance and Coinbase).
Once you have purchased Bitcoin or Ethereum from your chosen exchange platform (or wallet), go back to Coinbase and select “Buy” from the top menu.
This will take you to a page where you can input the amount of Bitcoin or Ethereum you want to buy. You can buy as little as $100 worth of Bitcoin or Ethereum, and Coinbase offers a variety of payment options, including debit cards and credit cards.
After your payment has been processed, Coinbase will give you a unique address that should be used with Avax. If you have any questions regarding this process, please email [email protected].
You can also buy Avax on Binance. Binance is one of the world’s largest cryptocurrency exchanges.
To purchase an Avax coin, you will need to buy Bitcoin or Ethereum and trade it for Avax. That’s how Binance handles almost all cryptocurrency pairs.
The recommended starting amount of bitcoin or Ethereum depends on your budget, but you’ll want at least 0.001 BTC in your account to trade it for Avax coins easily.
Is Avax a Good Investment?
Avax Token is an exciting project that incorporates the latest blockchain technology and encourages companies to leverage new financial opportunities.
You’re already familiar with how Avax Tokens work – you can either buy them or earn them by doing B2B or B2C digital marketing tasks.
The good thing is that these tokens are used to pay for various online marketing tasks like data acquisition, lead extraction, and analytics.
The Avax Token is built on the Ethereum blockchain, and it allows businesses to optimize marketing through its unique advertising platform for B2C and B2B companies.
The team accomplished its goal of providing B2B and B2C business organizations the possibility to manage their marketing spending more effectively. The Avax Token platform will bring a lot of value to businesses by helping them focus on what they do best: sales and customer support.
The demand for digital customer engagement is increasing rapidly across all industries, but enterprises struggle to find solutions that deliver real results at a sustainable cost.
Avax Token is creating a decentralized digital advertising platform that can deliver on this promise and drive ROI for every marketing dollar.
The company plans to integrate its technology into existing digital advertising tools such as Salesforce, CX, ExactTarget, HubSpot, Marketo, Oracle Eloqua, Adobe Experience Manager, etc.
The Avax Token project is comprised of two components: an Avax Token, which companies and organizations will use to pay for their digital customer engagement activities and tools, and a decentralized application (Dapp), which customers will use to manage their digital assets in one place.
This Dapp will have a marketplace where customers can buy or sell digital content and services, building on top of the software development kit (SDK) provided by Avax. You can think of the Dapp as a new way for businesses to interact with their customers.
Companies have limited resources and budgets, so they don’t have any other option but to minimize costs with an existing business-oriented tool. After all the technical issues are resolved in the next few months, we expect Avax Token to become one of such tools.
The Avax Token ecosystem has been built in two phases to provide enterprises and organizations with a single, low-cost platform to deploy, manage and monetize their digital customer engagements.
Avax Token is an ERC-20 utility token that provides enterprises with a unique, low-cost alternative to express their value proposition through digital interactions with their customers.
Avax Tokens can be purchased using Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies as trading pairs. Avax Tokens are used to interact with products or services that use Ava Analytics, Ava Commerce, and other products and services on the platform.
The Avax Token sale started in December 2017, followed by the first public sale in February 2018. During the public sale, more than $40 million was raised in tokens with a discount of 40% off the base price. A total of 1.5 billion tokens will be issued.
The primary purpose of the Avax Token is to enable companies to build and deploy engagement solutions for the digital world, allowing them to power their digital revenue streams.
Ava Commerce has been designed to provide an elegant and simple way for businesses to connect their customers to their products and services using a variety of channels like mobile sites, mobile apps, chatbots, voice interfaces (Alexa, Siri), and more.
Can I buy Avax on Coinbase?
Avalanche announced in August 2018 that they would be adding support for Coinbase users. This means that customers would be able to buy AVAX on Coinbase starting September 30th, 2018.
You can also send and receive AVAX (depending on your eligibility) using Coinbase directly by selecting “send” or “receive” when signing in to your Coinbase account.
Tips to Buy Avax on Coinbase
- Be ready to buy and exchange for AVAX when the exchange rate dips.
- If you’re buying AVAX with another coin, make sure you buy at a higher price than what’s being offered on the market – because if the exchange rate moves, chances are that you’ll be buying at a loss.
- Always trust Coinbase’s official “Bridge use buttons” – they’re used to ensure that the Ethereum network doesn’t get too congested and start melting down with too many transactions at one time.
- Always buy your AVAX in a “whole AVAX” – not in big chunks. This will ensure that you can’t potentially be scammed by the exchanges pumping up the price of AVAX by buying too much all at once and then dumping it, driving down the value of AVAX all at once and leaving you with a considerable loss.
- Always buy in at or below market price.
- If you’re buying Avax with PayPal, make sure that there’s enough “security” behind it – otherwise, it could potentially crash your account unless there’s ample security to back it up.
- As of now, you can only buy Avax with PayPal. As such, there’s not yet any redeeming value in having a Coinbase account – and I don’t recommend creating an account on Coinbase for AVAX/COIN – especially if you’re trying to invest in this token.
- If you’re already on Coinbase and want to buy AVAX, ensure that your wallet address is the same throughout all transactions. Otherwise, you could lose AVAX.
- Be ready to buy AVAX at all times – because if the market starts moving, you’ll need to act fast.
- Wait until the market stabilizes before buying or selling AVAX. Otherwise, you might regret it – or you might get scammed.
How do I Get Avax on Coinbase?
It’s easy to buy crypto tokens in your local currency on Coinbase. Register to Coinbase using an existing account. Open a new Coinbase account and transfer funds via bank transfer (or wire transfer) to your Coinbase account. Send funds from your Coinbase account to Avax (or you may use another exchange that has AVAX trading).
Once your funds are in Coinbase, you can send them from Coinbase to Avax using the “Bridge,” and now you can see that your AVAX is in your Avax wallet.
As of this writing, the price for AVAX is $36.60 per token. However, I would like to stress that substantial discounts will be available when more token holders enter the market…just as we saw with Bitcoin in 2009-2010 (as Satoshi released a limited amount of tokens before opening up the floodgates).
Then you can purchase AVAX on that exchange and trade for more stable coins (such as DAI or USDT) to transfer back to Coinbase.
To buy or sell Avax tokens using Coinbase, you must be eligible. This Coinbase’s eligibility criteria, which are regularly changing, are:
- You must be a resident of the United States or an organized, incorporated entity or (who) conducts business within the United States.
- You must not be a Prohibited Person under SEC regulation Rule 15f-6. That designation can come from sources, including your country of origin and citizenship.
- You must not be an individual under the age of 18.
Note: once you have AVAX in your Avax wallet, it will be listed on the “Bridge” landing page, and you can use that address to send/receive AVAX tokens from different exchanges. You can view the AVAX Bridge here. Add funds from Avax into Coinbase via bank deposit or wire transfer.
Can I buy Avax on Binance?
Yes, you can buy Avax on Binance. You can purchase it with a credit or debit card. You can also trade another cryptocurrency for AVAX on the Binance Exchange.
You can purchase Avax directly on Binance with a credit or debit card and trade other cryptocurrencies for AVAX on the Binance Exchange.
The Avax token price on Binance is currently $0.001499. It has a market cap of $994,716 and a volume of $1,058 during the last 24 hours.
Avax tokens are ERC-20 compliant, so that they can be stored in any Ethereum-supported wallet.
How do I get Avax on Binance?
Before you can purchase Avax, you need to create an account on Binance. Suppose you have an account with them, then log in and continue. Otherwise, follow the steps below:
Step 1– Create a Binance account by going to the homepage and clicking on “Create Account” near the top right corner. You will be prompted for your email address and password. This is the same process as any other website that requires registration information.
Step 2– After inputting your email and password, click “Yes” when it asks if you would like to activate two-factor verification for increased security purposes.
Step 3– Once you have successfully logged in to your account, go to the top left corner and click on “Funds” > “Deposits Withdrawals.” On the next screen, click on “Deposit/Withdraw,” and several options show, including Bitcoin and Ethereum. Click on “Bitcoin Deposit/Withdraw.”
Step 4– Input your Bitcoin (BTC) deposit address into the box in the top right corner. Next, input your wallet address for Ethereum (ETH) into the box at the bottom right corner.
Step 5– On the next page, you can choose from various payment methods such as bank transfer, credit card, and debit card. It will also show you how much Avax you have currently in your account. Based on this information, choose the payment method to fit your requirements.
Step 6– You can now click “Next Step” and wait for the transfer to occur in a few minutes or hours (depending on the speed of your bank and Binance)
Step 7– Once confirmations have been done, you should be able to see Avax in your wallet.
Please remember that for immediate purchase of AVAX, you should have some Bitcoins or Ethereum lying in a wallet from where you can instantly transfer them to your Binance account to buy AVAX.
Binance is one of the most trusted exchanges and provides several exclusive deals compared to other exchanges like Kucoin.
However, it does not accept fiat currencies like USD/EUR/GBP for exchanging cryptocurrencies and hence doesn’t require you much KYC verification as other exchanges.
What is Avax Used For?
The main use of this token is to facilitate the exchange of goods and services, stimulate behavior change and encourage commerce in the Avalanche network. AVAX can also be used for other services such as purchasing insurance, paying certificates, or making loan payments. You can think of AVAX as “a currency to pay with” within the Avalanche ecosystem.
Below are additional uses of the AVAX coin:
1. Transaction fee collection: AVAX is a payment processor for Avalanche Platform Users. Users will need to pay transaction fees for sending transactions and receiving funds on the Avalanche platform.
As a result, the Avalanche coin has been used as a form of payment on the Avalanche platform through the Avalanche crypto payment gateway.
2. Interest earnings: The interest earned is called the Avalanche interest rate. The interest rate is closely linked to AVAX’s value as an asset.
As long as AVAX tokens are widely used within the Avalanche Platform, more and more people will want them because they are valuable tokens that benefit many things, including interest earnings from holding them within the network.
3. As a reward for validators: Validating transactions on the Avalanche network is one of the crucial roles for the AVT-mnemonic, AVT-password, and AVT-text recovery methods. Avalanche validators are rewarded with a portion of newly created tokens.
4. As an incentive for stakers: As seen in similar platforms like PoST (Proof of Stake Time) and PoS (Proof of Stake), stakers can earn coins as rewards in exchange for lending their coins to secure the network.
5. As collateral deposit: Coins used to unlock other coins will be locked up until the loaned coins are returned to the contract owner or until a deadline has passed before an extension is possible. Avalanche offers you a way to lock up your coins and still earn interest.
How Many Avax Coins Are There?
There will be 720 million AVAX coins in circulation, and at least 8.5 billion have been promoted via the “Genesis Block.” At a time when over 1 billion are currently in circulation, with an approximate Fair Market Value of $0.00859, there are 1,200 AVAX per US Dollar.
720M coins are about (1/4) of the entire coin supply. Their website has estimated that there are currently about 720 million in circulation as of May 2022.
Avax is an open-source blockchain project that aims to provide a decentralized, peer-to-peer marketplace for avatars on the internet.
Avax is a unique blockchain project because it solves the issue of counterfeit goods and scamming on marketplaces while at the same time creating a new novel way to monetize information on the internet.
The Avax network will be supported by its native token, AVAX, which has a total supply cap of 720 million coins.
So about Â¼ of all the coins are currently being circulated with a maximum possible value of ~3 times the current market cap in the best-case scenario.
If you extrapolate all the locked-up coins and coins released from lockup, there is a potential supply of 1.3 billion AVAX (approximately 11x the current market cap). However, we do not expect to see this happen anytime soon based on how the lockups were structured.
This means your hard-earned money is much safer than all other cryptocurrency coins out there that you won’t get locked up or potentially diluted down in value based on their supply release schedule.
Furthermore, AVAX also potentially uses proof-of-stake as a consensus mechanism in the future. PoS can help maintain a more decentralized network and reduce the cost of transactions.
This should add more value to AVAX coins over time. At the same time, if AVAX fails to deliver its promises, your hard-earned money will be locked up for at least four years based on our contract with our investors.
How Does the Avax Network Work?
Avax uses a peer-to-peer business model that allows users of the network to rent or hire avatars. Users will be able to do this by submitting bids. The Avax protocol will enable users to set specific conditions on hiring avatars, such as time limits and usage options, and then automatically respond to another user’s request if they are interested.
For example, if a user wants to hire an avatar for an hour, they can set this condition in the network. If another user is interested, the network will automatically accept the bid from that user and create a contract.
The Avax protocol will allow users to set specific conditions on hiring avatars, such as time limits and usage options. They will automatically respond to another user’s request if they are interested.
For example, if a user wants to hire an avatar for an hour, they can set this condition on the network. If another user is interested, the network will automatically accept the bid from that user and create a contract.
The Avax protocol will ensure that the network accepts only valid transactions. This means the end-user doesn’t have to worry about receiving fake goods or scammers sending them fake coins.
Can you stake Avax?
Yes, you can stake Avax.
Avax is like any other asset on the blockchain, but it has a monetary value, unlike most others. Because of this, you can stake Avax and earn passive income without the need to buy, sell or trade anything.
This makes it the perfect investment for those who are not making enough money in their day jobs and need some extra cash to cover household expenses – or for those who want a second source of income.
Staking Avax is easy, too. You have to transfer your newly purchased coins from an exchange wallet into your Staking Wallet. Staking Avax is a two-step process, and you will be rewarded for your work now and again.
How Does It Work?
Staking Avax is a two-part process. First, you send your freshly mined coins to your staking wallet, and then after it confirms that the coins are in there, you wait for what usually takes between 30 – 60 minutes, depending upon the speed of the network. Once your coins have been confirmed, they will earn interest on all of the coin balances within their wallet until they run out of master nodes or are spent within 12 months (whichever comes first).
As well as earning interest on your balance, you can also earn more interest if you have enough Avax to stake. Several different factors go into deciding how much interest you earn, including:
- Who you are staking for (Owners, Masternodes and Supernode Voting)
- Type of coin you are staking for
- How long you have been staking (more points = more interest)
- How many coins do you hold in your wallet
Benefits of staking AVAX
1. Full money-back guarantee – Avalanche ensures the safety of your funds if you are dissatisfied with staking returns.
2. No third-party risk – You do not need to trust any third party to unstake your funds and can stake directly on the Avalanche network.
3. Simplified account structure – You can register an unlimited number of dash Blockchain addresses for staking and set fees for delegation to any Dash address registered on the Avalanche network.
4. Best privacy protection in Bitcoin’s network.
5. Highly secure – You will not lose your funds when a malicious entity controls your node. There is no need to download the blockchain, and you do not need to trust any third party with your funds.
How Much Can You Earn Staking Avax?
As of writing, it would roughly be 11.24% to 21.63% if you stake on the locked address (AVAX Locked Staking). Believe it or not, an interest of 11.24% could buy some pizzas and sandwiches at your local fast food if you are in the mood for something other than your normal canned soup.
Have you heard of Flexible Savings? It is one of the features that I like about Avax. It will always give you the same APY ratio no matter the actual network stake amount.
If there are not enough coins sitting on the staking address, you still receive your daily interest regardless. In addition, it does not require you to have a 100% staking amount locked on this address.
Why Do Avax Staking Plans?
You can choose to lock a portion of your AVAX coins in one or more of the following plans:
AVAX Locked Staking
Lock your total AVAX coin amount in the Locked Staking Plan. Lock in between 2% and 200% of your total coins and earn 21.63% interest on those coins after 90 days.
AVAX Flexible Savings Plans
Lock up a percentage of your total AVAX coin stash each month, and earn 3% interest on those locked-in coins after 12 months have passed.
How to Stake Coins
Step 1: Download the Avax wallet for your Mac, Windows, Linux, or Android device.
Step 2: Download the Aston wallet for your iOS device.
Step 3: Create a new Avax address through the wallet and send AVAX coins to it from an exchange or another staking address like your desktop.
Step 4: Open the Aston iOS app and tap on ‘More -> Saved Addresses’ on your home screen in the upper right corner of the screen, or push “Menu” on your device and choose “Saved Addresses.” This will bring up a list of all of the addresses you have saved in the app.
Step 5: Tap on the Avax address that you want to lock your coins in and tap ‘Lock’ to lock it in.
Step 6: Set up a password for your Avax account by tapping ‘More -> Security’ from the alert screen that appears when you first open Aston and set a password for your account.
Step 7: Go back to the main screen by tapping ‘Menu’ on your device or select “More” in the upper right corner of the screen on the main interface again, and then find ‘Staking’ from the menu at the top of the screen and choose that option from there.
Step 8: Set up a password for your staking wallet by tapping on the address (or “unlock” button) for that wallet and then tap ‘Set Password.’ This will open a keypad so that you can create a new password to use for that wallet.
Step 9: Press the return arrow in the bottom right corner of the app or push “Menu” on your device and choose “Exit” to exit out of the Staking wallet.
Step 10: Tap on the Avax address again and tap ‘Unlock’ to unlock it.
Step 11: After you’ve unlocked the wallet, there are three different options that you can choose from under ‘Staking’ in the main menu at the top of the screen:
- Invest coins – invest between 2% and 200% of your total AVAX coin stash in one or more Locked Staking Plans or Flexible Savings Plans, depending on how much time you want to lock your coins up.
- Withdraw-staked coins allow you to withdraw any AVAX coins that were staked during a flexible plan.
- View your staking rewards – this will show you the total amount of AVAX staking coins you have, how long they’re stacked for, and what percentage of profits from transaction fees and exchange services those staked coins are earning.
The Avax Token Project is a solution that will enable companies to move towards a more efficient and cost-effective way of deploying their digital assets.
The platform will provide a single, low-cost solution for businesses to deploy, manage, and monetize their digital customer engagements by leveraging blockchain technology.
A highly experienced team leads the project with backgrounds in the management consulting & advisory arena, which makes it one of those rare ICOs that have the potential to bring about meaningful value for businesses (and investors).