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Avalanche (AVAX): How it works and where to buy

Learn more about how Avalanche works, why the AVAX token is useful and how to buy it.

Learn about AVAX Learn more
Where to buy AVAX Find AVAX exchanges

AVAX is the native token of Avalanche.

Avalanche is a decentralised network that introduces a unique consensus protocol in order to host a network of high-speed blockchains, smart contracts and applications. The AVAX token is primarily used for transactions, staking and network fees.

Buy Avalanche (AVAX) by comparing options in the table below.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

How to buy AVAX

Here’s a step by step guide to one way of buying AVAX. Note that there might be other options available, so you may want to compare cryptocurrency exchanges to find the one that’s right for you.

  1. Find an exchange that supports AVAX, such as Binance.
  2. Create a Binance account and make a deposit.
  3. Search for an AVAX market, and trade a suitable cryptocurrency for AVAX. For example, to buy AVAX on the AVAX/BTC market you will need to have some Bitcoin to trade for AVAX.

1 - 13 of 13
Name Product Deposit methods Fiat Currencies Cryptocurrencies
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

267
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets.
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

374
cryptocurrencies

Finder Exclusive: Get 10% discount on your fees when signing up through Finder. T&Cs apply.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Kraken Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Wire transfer, Osko, SEPA, Apple Pay, Google Pay, SWIFT
USD, EUR, GBP, JPY, CAD, CHF, AUD

195
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.
Bit.com Cryptocurrency Exchange
Bit.com Cryptocurrency Exchange
Cryptocurrency
USD

29
cryptocurrencies

Bit.com is a full-suite crypto exchange, offering spot, futures, perpetual contract, options and savings. New users can enjoy up to 200% APY on savings, $245 trading coupons and earn free Bitcoin by only checking in on the mobile app daily.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND

657
cryptocurrencies

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

1176
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 1,100 tokens including derivatives, yield farming and lending products. Eligible countries only.
OKX Cryptocurrency Exchange
OKX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP

320
cryptocurrencies

Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 300 cryptocurrencies, OKX offers its users a variety of payment methods and coins to choose from.
Okcoin Cryptocurrency Exchange
Okcoin Cryptocurrency Exchange
Bank transfer (ACH), Epay, Credit or Debit Card, SEPA, Prime X
USD, EUR, SGD

79
cryptocurrencies

Get $50 worth of BTC when you buy $3000 or more in crypto. T&Cs apply.
Buy, sell and earn cryptocurrency with this user-friendly exchange and smartphone app.
AAX Cryptocurrency Exchange
AAX Cryptocurrency Exchange
Alipay, Bank transfer, Neteller, PayPal, Qiwi, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme, SWIFT
AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD

110
cryptocurrencies

Get 50 USDT when you sign up through Finder, make USD 10k+ trades and deposit USD 500 worth of crypto. T&Cs apply.
Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.
Paybis Cryptocurrency Exchange
Paybis Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Neteller, Skrill, Credit or Debit Card
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

404
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Uphold Digital Money Platform
Uphold Digital Money Platform
Bank transfer (ACH), Credit card, Debit card, Google Pay
USD, GBP, AUD, EUR, CAD, CNY, JPY, SGD, INR, NZD

217
cryptocurrencies

Use the Uphold app to trade between 200+ cryptos and other assets in a single click.
Huobi Cryptocurrency Exchange
Huobi Cryptocurrency Exchange
AdvCash, Cryptocurrency, Wire transfer, SWIFT
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD, RUB

564
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Bithumb Cryptocurrency Exchange
Cryptocurrency
KRW

194
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
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Live Avalanche (AVAX) price

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How does Avalanche work?

CryptocurrencyAVAX
Circulating supply (approx. as of November 2020)24,500,000
Maximum supply720,000,000
BlockchainAvalanche
PurposeProof-of-stake and fees

The Avalanche network was designed in response to the scalability issues encountered by earlier generations of smart contract platforms, in particular Ethereum.

At the core of the Avalanche platform is its novel consensus protocol, which is also known as Avalanche. The Avalanche consensus protocol was developed in response to the scalability issues encountered by earlier generations of blockchains, such as slow transaction speeds on Bitcoin and Ethereum. Instead of using Nakamoto consensus which was introduced by Bitcoin and adopted by many blockchains that followed, Avalanche consensus is a brand new method of validating transactions, which allows for in excess of 4,500 transactions per second using a proof-of-stake model.

Sitting on top of the consensus protocol is the Avalanche network itself, which essentially supports a myriad of blockchains interoperating with one another. You can think of Avalanche as the parent network (like the Internet), with a series of subnetworks (blockchains) operating within it. This allows for a granular approach to programming, meaning that blockchains with different rules, purposes and users can all operate somewhat independently while remaining part of a greater whole.

As for users, Avalanche will look like any other blockchain network.

It will host an array of familiar features, such as decentralised applications (dApps), tokenised assets, decentralised exchanges and smart contracts – albeit with a different set of rules dictating how it all works behind the scenes. To demonstrate this, the creators of Avalanche, Ava Labs, launched Athereum. Athereum is an Avalanche-based version of Ethereum with all the features and applications of Ethereum, but instead running on the much faster Avalanche protocol.

What does AVAX do?

AVAX is the native token of the Avalanche network, which means it is used as the primary currency for network transactions, including gas fees and payments. AVAX is also used as the basic unit of account between the different blockchains which operate on the network, despite each of these networks potentially having their own currency.

Staking is another one of the primary uses for AVAX.

Avalanche uses a proof-of-stake consensus protocol to keep the network secure, which means users will be able to lock-up their coins to become a validator. In return for faithfully verifying transactions on the network, validators will be rewarded with additional AVAX tokens. To participate in staking, users will need to deposit a minimum of 2,000 tokens, with 50% of the total supply of AVAX tokens set to be distributed through staking rewards over the lifetime of the network.

What to watch out for

Avalanche is yet another new protocol competing in the over-saturated market of base-layer blockchains which include platforms such as Ethereum, EOS and Tezos.

As a new protocol, it is yet to have its vulnerabilities and potential weaknesses thoroughly tested.

AVAX block rewards are set to vary over time in accordance with governance decisions, which means any return on investment via staking will be dynamic. In the first year after launch, the staking reward is set at a target between 7% and 12%.

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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