Kraken
With a market cap of $2,788,889,794.00 USD, Aave ranks as the 47th largest cryptocurrency by market capitalization in the world. It operates on the Ethereum blockchain network. It is currently trading at a price of $182.91 USD per coin and trades using the cryptocurrency code AAVE.
Aave is a highly volatile asset capable of major price swings in a single day. So before you buy Aave, make sure you understand these unique risks as well as its tax and legal status in Canada.
If you want to buy Aave in Canada or track its performance, keep reading to see the latest AAVE price, market cap and trading volume along with a step-by-step guide on how to invest in AAVE crypto in Canada.
| Current price | $182.91 |
|---|---|
| All-time high | $661.69 |
| All-time low | $26.02 |
| 1-year price change | ▼ -42.52% |
| Market cap | $2.79B |
| Market cap rank | #47 |
| Total volume (24h) | $282.12M |
| Circulating supply | 15,192,503 |
| Max supply | 16,000,000 |
| Network | Ethereum |
| Where to buy AAVE | Buy on Kraken |
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
The whole process of buying AAVE can take as little as 15 minutes, and all you need is a smartphone or computer, an internet connection, photo identification and a means of payment. Follow these five steps to learn how to buy Aave in Canada:
The easiest way to buy Aave is through a cryptocurrency exchange. Choose an exchange that offers low fees, a user-friendly platform or 24-hour customer support. You can easily see top picks in our guide to the best crypto exchanges in Canada, or compare options below.
To create an account on an exchange, you will need to provide an email address, come up with a strong password and verify your identity through a process called KYC, which requires government-issued photo ID.
Once verified, you can deposit CAD using the payment method that best suits you. Common methods like Interac e-Transfer, bank wire and debit card payments are widely accepted on Canadian-friendly exchanges.
You can now exchange your funds for Aave. On beginner-friendly exchanges, this is as simple as searching for the coin name (Aave) or its crypto code (AAVE), entering the CAD or AAVE amount you want to purchase and clicking "Buy."
Consider transferring your AAVE to help protect against hacks, scams, platforms going bankrupt and other risks of keeping crypto on an exchange.
We've curated a list of legitimate crypto exchanges below where you can buy Aave in Canada to help you compare deposit methods, supported fiat currencies and fees.
To make comparing even easier we came up with the Finder Score. Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. The higher the score, the better the exchange—simple.
The recent Aave (AAVE) price is $182.91 USD per coin, which is +5.07% higher than the previous day's trading price of $174.09 USD. Over the past 30 days, AAVE's price has changed by +5.30%, from $173.71 USD to the current price of $182.91 USD. Compared to this time last year, Aave's price has seen a decrease of -42.52% to its value as a cryptocurrency.
Aave reached its all-time high of $661.69 USD on May 18, 2021, which was a +2,443.01% increase from its previous all-time low of $26.02 USD, which it reached on November 5, 2020. It has since landed at its current price of $182.91 USD.
Yes, you can buy Aave in Canada. Simply open an account with a crypto exchange that operates in Canada and supports Aave—like the ones in our curated list above—and place a "buy" order. For example, Kraken supports Aave and is a registered crypto exchange in Canada.
Because Aave is decentralized, it isn't tied to any single country. That means you can buy and sell it from anywhere in the world, including Canada, as long as you have internet access.
Aave, which comes from the Finnish word for ghost, is a lending and borrowing decentralised finance (DeFi) protocol built on the Ethereum blockchain. Founded in 2017, the protocol was originally called ETHLend and focused entirely on lending Ether. Since a rebranding in 2018, Aave has grown to be one of the largest money markets in the DeFi lending space.
The service is completely decentralised in comparison to other lending platforms such as BlockFi and Nexo, requiring no KYC checks or limitations for users. Lending and borrowing are controlled by smart contracts that utilise liquidity pools to remove the need to match the borrower to the lender.
Aave is a non-custodial service meaning cryptos are never stored directly with Aave. Deposits are always controlled by the user.
The Aave lending protocol utilises a native token called AAVE. The AAVE token is used for governance and can be staked in return for fees and other rewards.
To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not CAD.
If you want to buy Aave with Canadian dollars, you'll need to pass a Know Your Customer (KYC) check.
This is a standard security procedure for most exchanges in Canada and requires you to upload government-issued photo ID, and, in some cases, a selfie with today's date.
KYC is usually approved instantly, but in rare cases, you may have to wait a few hours or days.
Several crypto exchanges in Canada accept credit cards as an instant purchase method. However, before buying Aave with a credit card, you should be aware of the additional cost and risks involved.
For instance, credit card fees are usually higher than bank transfers or e‑Transfers. Some card issuers may even block cryptocurrency transactions or treat them as cash advances, which are more expensive. Plus, if you don't pay off your credit card within your statement period, you may end up paying interest on your card balance and losing money if the price moves quickly.
For example, if you were to use a credit card to buy Aave, you could end up paying this:
If it took you three months to pay off your Aave purchase at a credit card interest rate of 19.99% APR, you would pay an additional $18.83 USD in interest on top of what you originally paid to buy Aave.
This example can help you compare the relative cost of buying Aave with a credit card versus other lower‑fee methods like Interac e-Transfers.
You can check the table of Canadian crypto exchanges above to see which ones accept credit cards for buying Aave, or visit our guide on buying crypto with a credit card for more details.
Yes, it is possible to buy Aave with a debit card, as most Canadian crypto exchanges accept debit cards as an instant payment method.
To buy Aave with a debit card, you'll typically need to go through the standard steps to purchase crypto on your preferred platform and then select debit from the list of payment options (e.g. Interac e-Transfer, debit card, credit card) before completing your purchase.
Just note that there are often higher fees for crypto purchases with cards (both debit and credit) compared to paying with Interac e-Transfer or with another cryptocurrency.
Before acquiring any cryptocurrency, it's essential to thoroughly research your purchase and be fully aware of any risks involved. Cryptocurrencies are complex and speculative, so make sure you consider a wide range of factors before you buy
If you're thinking of buying AAVE, take the following into account:
The risk of a hack should always be anticipated like any other protocol that exists online. Although no successful attempts have been made, the risk still remains. As with other Ethereum-based DeFi protocols, the platform has been built on smart contracts.
Smart contracts, although efficient, can malfunction occasionally which for a system like Aave would be catastrophic. To mitigate these risks, Aave offers users entry to the safety module to insure some digital assets against potential losses.
Holders of the cryptocurrency are given the opportunity to vote on items such as the management of the platform, improvement proposals and the allocation of funds. Additionally, users can stake their AAVE tokens in a 'safety module', which is used to cover lenders in case of a capital shortage.
In exchange, stakers receive interest on their locked-up tokens.
However, they are not the only platform to offer DeFi lending services - Compound, Venus and CREAM finance are all major players in this sector of blockchain tech. It may be worth comparing these platforms to Aave's to determine which has the best chance of cornering a share of the DeFi lending market.
There are two main options for storing Aave once you've bought it—keep it on an exchange or store it in your own personal wallet. Take a look at our guide to the best crypto wallets in Canada to see our top picks.
While it can be more convenient to leave your Aave on an exchange, you're vulnerable to risk if the exchange gets hacked or compromised in another way.
It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.
Like all crypto, Aave is considered a commodity for tax purposes by the Canada Revenue Agency (CRA). That means it will be taxed similarly to other investments like stocks and ETFs.
Money you get from selling Aave can be treated as income or capital gains. That said, the CRA will tax crypto profits differently if you're a casual Aave buyer than if your crypto profits are classified as business income.
You can learn more about how crypto taxes work in our guide to crypto tax in Canada.
Keep in mind that buying Aave can be risky. But if you decide to invest in Aave, look for a regulated crypto exchange in Canada that supports AAVE, and make sure to store your crypto securely.
Once you've bought Aave, think about your short and long-term goals. Crypto markets can be very volatile, so keep an eye on Aave's price over time to decide whether to keep it on an exchange, sell it or move it to your wallet.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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