How to Buy Waves - Where to Purchase WAVES?
Launched back in 2016, Waves is a multi-purpose blockchain platform that supports various use cases such as decentralised applications and smart contracts. The protocol set out to improve on the first-generation blockchain platforms by increasing speed, utility and user-friendliness. Some of its products include gravity, a cross-chain and oracle network, Neutrino, which is focused on DeFi, and the Waves DEX, a decentralised exchange. These innovative products have seen Waves grow in popularity, and this should continue as crypto sees more adoption. This piece will focus on how to buy WAVES and make the most of the opportunities it offers.
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Why Trade rather than Buy Waves for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top Waves Brokers
Waves is one of the top crypto platforms with a lot of use cases. Currently, it sits at number 60 with a market cap of over $1.7 billion. This makes the project easily accessible on top crytocurrency exchanges and online crypto brokers. Today several brokers offer access to this token; however, you should opt for the best that boasts an excellent reputation and those that offer easy-to-use platforms. The good thing about brokers is you don't have to own the actual asset and have to deal with the complications associated with the endeavor. Also, you get to exploit positive and negative price movements with great returns.
5 Things to Consider if you Want to Buy Waves
Before you start your journey of buying Waves, there are a few things you need to pay attention to. These can make or break your experience.
1. Carefully Choose Your Preferred Secure Payment Method
Most platforms that offer access to Waves will provide various payment options, and depending on regulation; the supported methods will differ. You will realise that maybe in your country, the central bank has warned financial institutions from supporting crypto transactions, and this will mean bank transfers or the use of debit/debit cards might not work. The only way you can use your local currency to purchase Waves, in this case, is via P2P platforms, where you get to trade with fellow citizens. But, most P2P platforms will support only the popular coins such as BTC and ETH. This means you will have to go to a platform that allows you to trade either BTC for WAVES.
As for brokers, most of the popular payment modes should work; however, ensure to check if your most convenient modes are supported.
2. Will you need to set up your own wallet?
This decision depends on whether you want to hold the actual asset or trade financial instruments attached to the digital currency. In the first case, you will have to set up a cryptocurrency wallet to store your private keys that offer digital currency access. Waves wallets can either be software or hardware wallets. This will be discussed in detail later on. Brokers will offer exposure to financial instruments attached to Waves. And to interact with these instruments, you don't need a wallet. Most individuals that don't want to deal with the actual asset and the complications that come along will opt for the latter option.
3. Comparing costs
Also, to have the best experience, either trading or investing in Waves, you will have to pay attention to the costs charged on various platforms. On exchanges, when dealing with the actual asset, you will experience network fees that go up when the network is too congested. Also, there will be trading fees and withdrawal fees in addition. Brokers will charge commissions per a given bunch of trades. The fees vary on different platforms and can accumulate, especially for traders.
4. Safety and security
How safe is your investment? This is another question you need to ask yourself before putting money on Waves. The digital asset uses cryptography, decentralisation, and consensus to guarantee the security of its network. Transaction data is stored on blocks that are cryptographically linked to each other, forming a chain with the newest blocks holding information about all the previous blocks.
A consensus mechanism is used to validate transactions on the blocks where participants check if the information is correct, with the majority determining if a block is added or rejected. And since the network is an open distributed ledger, members of the public are welcome to run nodes adding a decentralisation aspect and eliminating the chance of a single point of failure.
Users get to stake a claim on their coins by holding private keys to the tokens. These private keys are stored in a private wallet which gives the owner exclusive access to the coins. Not even the network can restore your coins if you lose your private keys.
On top of this, exchanges and brokers will offer additional security measures such as the ability to activate two-factor authentication (2FA) and SMS notifications to safeguard your account from bad actors.
5. Can you understand and navigate the platform?
This is another factor you need to pay attention to since it can make or ruin your experience. If you are having trouble understanding and navigating the platform, then the buying process will not be fun, and there is a chance you could lose your funds. Great platforms believe in simplicity, making them less intimidating to new users and allowing anyone to buy and sell with ease.
Ultimate Beginner's Guide to Trading Waves
What is a Waves Broker?
Waves brokers act as intermediaries that help execute trades on your behalf. Mostly these are online companies that offer access to various financial instruments such as forex, stocks, commodities, cryptocurrencies and indices.
Brokers have become popular with the growth of global financial markets thanks to the internet and can be accessed from any corner of the earth. They offer low entry barriers for users as most require only a small amount of capital, account registration, and verification before getting started. Most have demo accounts and educational resources to guide new users on how to go about the platform; hence they represent the easiest way to invest/trade in assets such as Waves.
What is a Waves CFD?
A Waves contract for differences or CFD is a financial derivative that is a contract between the trader and the broker. It will allow you to exploit the volatile price of Waves using leverage to trade. CFDs can be highly profitable since your capital is boosted by a given margin, thereby increasing your exposure on the market. However, you need to be careful since the greater the rewards, the higher the risk. You need to employ some time to understand how to conduct a bit of technical and fundamental analysis. The good thing with CFDs is you won't be dealing with the actual asset; therefore, you don't have to stress about acquiring and safekeeping Waves.
What is the Benefit of Waves Regulation?
Regulation helps bring order within a market and keep away fraudsters. The cryptocurrency market is relatively young, and lawmakers have been playing catchup with the fast-growing space as they try to develop frameworks to govern the industry. Every year many individuals who fail to do their due diligence lose millions of dollars through scam projects, but this is changing as regulators such as the SEC have stepped up efforts to bring to justice some of the perpetrators of scam projects. Also, today most exchanges and brokers are required to research projects they choose to list.
What is the Best Payment Method for Buying Waves?
Buying Waves is relatively easy and doesn't require any technical know-how to go about it. All you need to be aware of is how to read and operate a computer. Then register on a reputable exchange or broker, complete the verification process, and you are good to go. Below are some of the payment modes you can use to buy Waves.
Buying Waves with Debit/Credit Card This is one of the most popular modes of buying this asset supported on many platforms. Brokers will have this as one of the easy ways to fund your account. As for exchanges, you will go to the buy section, select Waves, and then select how to pay with a credit/debit card. Enter the card details, and you are ready to go. However, this option might not be available in some countries due to regulations.
Buying Waves with Crypto To use this method effectively, you have to own some crypto. This can happen by visiting exchanges where you purchase Bitcoin or Ethereum using a credit card or bank transfer. Then transfer the BTC or ETH to a platform supporting Waves and trade the BTC/ETH for Waves. This can be quite a process since you need to sign up on various platforms and transfer your crypto, but it's still a valid way to make the purchase, and it's not that complicated.
Buying Waves Peer-to-Peer Many platforms offer peer-to-peer buying and selling cryptocurrencies. However, most of them tend to support some of the top coins. Lately, even centralised exchanges are incorporating P2P trading. You can access their P2P platform where you can buy any of the supported coins using your local currency or payment mode and then convert the coin into Waves. The process isn't time-consuming, and it's an ideal way to access Waves.
Buying Waves Using Third-Party Payment Options Some exchanges and brokers will allow users to fund their accounts and purchase Waves using third-party payment options such as PayPal, Skrill, and many others. This is a fast and straightforward process that shouldn't take much time.
The Verification Process for Trading Waves
To get started with buying Waves on exchanges or dealing with financial instruments attached to it on brokers, you will have to verify your account. As mentioned earlier, these days, regulators require these platforms to identify their customers to combat anti-money laundering acts. Once you sign up, you will have to upload a photo of your national ID or passport. Also, you will take a selfie or make a video call to confirm if it's you in the photo. The names on the ID have to match your official names, and you will also have to verify your residence by uploading a utility bill.
Waves: Long Vs. Short Term Investment
There are two ways you can go about investing in Waves, and both can be profitable. You can choose short-term investment where you exploit slight price differences and take profits or go for long-term investment where you buy the asset and hold onto it for an extended period.
The first case is common with active traders who will use day trading, swing trading, trending trading and scalping strategies. Day traders will tend to enter positions and exit within a day taking advantage of the massive volatility of crypto assets such as Waves. Swing and trend traders will take more time before exiting trades, and it can take them even weeks or a few months. But, scalpers will enter and exit trades within short periods, like in just a few minutes. With active trading, you need to educate yourself on trading, such as conducting technical and fundamental analysis, setting stop losses and taking profits.
As for passive long term investment, all you need to do is buy Waves and hold the asset for years. You don't need much technical know-how to go about this process. Also, you don't have to worry about the daily price volatility and even the entry price of your investment. Here you will have to invest in a hardware wallet where you can store your tokens safely from the reach of bad actors.
Why Buy Waves rather than Trade?
For someone that is interested in cryptocurrencies but lacks the technical know-how required to trade these assets on exchanges and brokers, they can opt to buy and hold assets such as Waves. This is a great strategy to profit from the growing industry for people that find crypto a bit technical. All you need to do is sign up on a reputable exchange or any other platform that offers Waves, make the purchase, and transfer your coins to your private wallet. Let them stay there for as long as possible, and as the crypto market and the project grows, you stand to benefit.
If you choose to trade, you will have to invest in a trading course that will guide you on how to go about this process. It's easy to lose all your funds by engaging in crypto trading when you have no idea what exactly you are trying to do. Also, a trader needs to be on top of many things to be profitable. They need to conduct technical and fundamental analysis, keep up with the happenings within the market that are likely to influence the prices and keep readjusting their strategies. This can be a bit hectic for the average person.
What Fees are Involved in Buying Waves?
When you get into crypto investing, you need to be aware of some of the involved fees. This applies to buying Waves, where you have network fees that are negligible but can rise when the network is congested. These fees are used to pay nodes that verify transactions on the network. Other fees include:
Transaction Fees These are fees charged by platforms that facilitate the buying and selling of Waves. This is how exchanges make their money. These fees will vary from one platform to another, and you need to pay attention to them if you plan to make regular purchases.
Deposit Fees This will mainly come from the payment provider you opt to use to fund your account. Some can even charge a premium since it's cryptocurrencies you are dealing with, while others can be free to attract more users.
Withdrawal Fees When withdrawing funds from a platform, there will be a fee taken by the exchange or broker. This is another source of their income to support their operations. Most of the time, these fees are negligible, but for a regular user can accumulate. Therefore, it makes sense to compare various platforms and choose the best without compromising the quality of services you receive.
Safely Storing Your Waves
The section below will cover some of the modes that are available to safeguard your Waves Investment.
Web Wallet Web wallets can be exchange supported or browser extensions. When you purchase your coins on a platform such as Binance, they will appear on your dashboard. These coins are stored using Binance custodial wallet, which means you technically don't own the coins. If the exchange is ever hacked, your investment is gone. Therefore, it's safe to store them in a private wallet. A browser extension will allow you to hold your private keys. However, they are less secure compared to other wallets on this list since they are online.
Mobile Wallet Mobile wallets are applications that you install on your mobile device that help you safely store your coins. They offer security and anonymity. Also, you have access to 24/7 customer support. Some will allow you to purchase other cryptos within the wallet and, most importantly, access your coins on the go. Atomic wallet is a good example of a Waves mobile wallet.
Desktop Wallet These are software programs you download and run on your PC. They allow users to keep their private keys. They are convenient for traders and people that need regular access to their tokens. Some like Atomic wallet will allow you to hold over 300 coins which is incredible. Also, even if you are to lose your machine, you can recover the wallet as long as you hold your wallet seed. Desktop wallets offer a higher degree of security compared to web wallets. Another popular wallet in this category is Exodus.
Hardware Wallet Waves hardware wallets are physical devices that resemble USB flash drives. They are popular with long-term investors and people with a substantial amount of coins. They host applications that let users store their private keys of various cryptocurrencies and are considered the most secure since they are disconnected from the internet most of the time. The only time you connect the wallet to your smartphone or PC is when you need to make a transfer. Popular waves hardware wallets include Ledger and Trezor.
Wallet Combinations Some individuals will opt to trade Waves actively and invest in the asset in the long term. For such people, it makes sense to have a wallet that offers quick access to the assets for trading, such as a web and desktop wallet. Also, they can hold a hardware wallet where they can store coins for the long term.
What Other Coins Can I Trade or Use to Buy Waves?
As mentioned above, some platforms will allow you to trade other cryptocurrencies for Waves. You will find the token paired against stablecoins such as USDT, BUSD, and others on some exchanges. Stablecoins maintain a stable price and are easy to do calculations using. Also, you will find the popular coins paired with Waves, such as BTC. On some platforms, you will find fiat pairs of euro and USD.
What's the Smallest and Largest Amount of Waves I Can Buy?
One Waves coin currently goes for around $17. The token is divisible up to eight decimal places, meaning it's possible to buy even coins worth a few cents. But, due to network fees and other charges, most platforms will have a limit of about $10. As for brokers, some will have the minimum capital you should fund your account with to trade various financial instruments attached to Waves. This can be $100, $200 or even $250.
Can I Buy Waves Anonymously with no ID? Is it Safe and Legal to Buy Waves?
It's possible to buy Waves anonymously through decentralised exchanges that don't ask for KYC. So if you find a reputable DEX that offers this option feel free to purchase if you are the kind that likes keeping their transactions anonymous. However, most reputable exchanges will require you to verify your account before you can begin buying and selling crypto. This can seem contrary to what cryptocurrencies were invented to do, but it adds a layer of security for your investment.
Will Buying Waves Make Me Money?
Our goal with these guides is to educate people on what cryptocurrencies are all about and the opportunities the market offers. Most individuals are not interested in crypto for the value it offers but for the tremendous returns. They want to make money and based on this coin's history, those that got in early have made money. Judging by its current price, Waves has registered an ROI of over 21700% from it's all-time low of $0.1227 five years ago. This year alone, it has registered over 4x growth. For more information on the price history of WAVES, please visit the Waves Price Page.
How to Spend your Waves
Waves coins can be used to make purchases online at accepted merchants. Also, the token has utility on the Waves ecosystem being used to pay fees at discounted rates. The Waves ecosystem is vast, as mentioned at the start of this guide. You can also exchange your coins for other cryptocurrencies and spend them as you like to make instant payments for coffee, groceries, bills, and so on.
How to Sell your Waves
Selling Waves is easy and straightforward just like the buying process. You can use exchanges or brokers to make the sale and convert the coins to fiat or even other cryptocurrencies. If you trade WAVES using CFDs, then the process is easy as you can even use robots to trade in an automated manner.
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Frequently Asked Questions
No. This is a decentralised digital currency that isn't controlled by any single entity. However, most platforms that enable its trading are regulated.
Waves is a multi-purpose blockchain platform that supports various use cases, including decentralised applications (DApps) and smart contracts.
This project was launched back in June 2016.
This protocol has a circulating supply of 105,132,202 million coins.
Alexander Ivanov, a Ukrainian scientist, is behind this project.
It's possible to make money investing in this asset and even actively trading, but you need to educate yourself on how to.
The answer to this question lies with you. You can start with any amount and grow your portfolio with time.
Waves is a Proof of Stake (PoS) cryptocurrency where you stake coins to validate transactions.