What is Aave?
Aave is a decentralized money market protocol that enables users to lend and borrow cryptocurrency across 20 different assets as collateral. The protocol has its own native token, AAVE, which also serves as a governance token, allowing the Aave community to collectively decide the direction of the protocol. Lenders can earn interest by providing liquidity to the market, while borrowers can collateralize their cryptoassets to take out loans from the liquidity pools.
How do I buy Aave in 2023?
You can buy Aave using credit card (Visa or MasterCard), bank transfer, Apple Pay or Google Pay. All you need to do is to choose a fiat currency, e.g. CHF, and enter an amount. A conversion rate is calculated for you. Once you are happy with the rate, tap the "Continue" button to get started. At this point, you will need to connect your email or wallet (if you are buying crypto for the first time, it will be easier for you to use your email, but Metamask and WalletConnect are also supported). Depending on wether Aave is supported by our ramp provider, you may be invited to buy an intermediary token, that we will then swap to Aave for you. In this case, you will first need to sign a permit in order to allow us to perform this swap on your behalf. Finally, you will be able to choose your payment method, and finalise your purchase. If this is your first time buying with Ondefy, you will need to complete a short KYC (Known Your Customer) verification.
Is it safe to buy Aave?
Your payment processing is securely handled by our partner Transak, and your purchased Aave tokens benefit from the security of the blockchain. Nevertheless, as an investor you must assume the risk of owning cryptocurrencies, due to their inherent price volatility.