How to buy and hold AVAX with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for Avalanche (AVAX) storage
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Send, Receive, Store your Avalanche tokens free and without limitations
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Buy, Sell, Exchange Avalanche (AVAX) directly in the wallet
Stake Avalanche (AVAX) by connecting Wigwam to the popular DeFi dApps
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AVAX token Review
AVAX is the native token of the Avalanche blockchain used for paying gas fees, in staking, and as a means of payment in different applications on
About Avalanche blockchain
Avalanche is a decentralized, open-source blockchain launched in 2020 by Emin Gün Sirer. It has a novel model of Proof of Stake consensus algorithm with the possibility to process thousands of transactions per second at a low cost. Avalanche consists of multiple subnetworks and is fully compatible with Ethereum's smart contracts that allow the migration of dApps from one blockchain to another quickly and easily. At the moment, Avalanche is perceived as one of the most popular blockchains with a market cap of around 7 billion dollars by CoinMarketCap.
AVAX token use cases
The AVAX token has many use cases in the Avalanche ecosystem, some of them are:
- Transaction fees. All transaction fees on the Avalanche are paid in AVAX tokens.
- Staking. Validators use AVAX to participate in the network's consensus mechanism, where they need to stake at least 2000 AVAX to become a validator and receive rewards from transaction fees and new AVAX emissions.
- Governance. AVAX holders may participate in blockchain governance and influence the future development of Avalanche.
- Cross-chain transactions. AVAX is used to conduct cross-chain transactions with Avalanche subnetworks and with other blockchains to transfer value from one point to another.
- DeFi platforms. Because many DeFi platforms were launched on Avalanche, they use the AVAX token as a main token for creating liquidity pairs on DEXes, lending, borrowing, and yield farming programs.
- NFT Marketplaces on Avalanche use AVAX as the means of payment for their NFT works.
- Means of payment. Some services accept AVAX as a payment method because of low fees and quick time of transaction execution.
- Trading. AVAX is listed on all popular crypto exchanges and used in trading activities by their users.
AVAX conducted an ICO in July 2020, where 10% of the total 720 million tokens were distributed among participants; however, with a private sale and seed round, a total of 16% of tokens were shared by the following proportion:
- Seed round: 2.5%
- Private Sale: 3.5%
- Public Sale (A1,A2,B rounds): 10%
Other parts of the tokens were distributed during these activities:
- Testnet incentives: 0.27%
- Airdrop: 2.5%
- Partnerships: 5%
- Community and development: 7%
- Foundation: 9.23%
- Team: 10%
- Staking rewards: 50%
At the moment, Avalanche is perceived as a decentralized network where none of the participants have a majority of the token supply. However, it is possible that the big token release of the team members, foundation, investors, or early backers may significantly impact the current token price.
The positive factor that may increase a token price, in the long run, is the in-built Avalanche burning mechanism, where a portion of the transaction fees in AVAX is burned, reducing the total token supply.
AVAX is a cryptocurrency, and like other cryptocurrencies, it is affected by the same problems: high volatility, regulatory risks, and technology challenges. The Avalanche platform faces competition with Layer 2 solutions on Ethereum, and the team should conduct a lot of work to popularize this blockchain among developers and users.
This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.
You may buy AVAX with a few clicks in our crypto wallet, Wigwam. Install the wallet, click the buy AVAX option, and use your credit card for payment. Also, you may use popular crypto exchanges like Binance, Coinlist, Coinbase, etc, or specialized crypto platforms that provide an option for buying this token.
Yes, if you have more than 2000 AVAX, you may become a validator and earn rewards for running your node, but you may also delegate any amount of AVAX to a validator on specialized platforms like core.app or others and get a share of their rewards (around 7.8% APR).
The AVAX token was issued on several blockchains, and you need to be sure that you receive this token in the right one in your wallet. The main blockchain for the AVAX token is Avalanche X-chain. Choose this blockchain in your wallet (you may add this blockchain manually if you don't have it as a default option). If your AVAX tokens are not displayed on this blockchain, try to add information about them manually:
- Click the "Add custom token" button in your wallet.
- Enter the AVAX smart contract address: FvwEAhmxKfeiG8SnEvq42hc6whRyY3EFYAvebMqDNDGCgxN5Z.
- Add other information about the token and click the "Confirm" button.
AVAX is subject to high market volatility, and by buying this token, you may significantly decrease your investment portfolio. Also, other risks of holding AVAX applied, some of them:
- Changes in crypto regulations may reduce usability cases for the AVAX.
- Security vulnerabilities may cause you to lose your tokens.
- Liquidity risks can reduce your chance of selling these tokens for an appropriate price.
We recommend you conduct your research before buying any tokens.