Ever since Bitcoin witnessed a boom in popularity, more and more cryptocurrencies have been coming up to par with it. And while some have managed to earn a reputable spot for themselves, some are still on their way to the top.
One such cryptocurrency today is Avalanche (AVAX). And even though this is a relatively new contender, it has shown signs of promising growth in the world of cryptocurrency.
So if AVAX is something you are interested in, you are in the right place! Make sure to read this quick post till the end to get a gist of its basics.
What Is AVAX?
In simple words, Avalanche (also known as AVAX) is an efficient blockchain ecosystem with a decentralized network. The main aim of this crypto coin is to help make global transactions safe and effortless.
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- Billions of dollars in funding available
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- This is not a loan. These tax credits do not need to be repaid
Moreover, this platform uses three other blockchain networks to help create the ultimate interoperable protocol. This is why the developers have even nicknamed this to be the “platform of platforms.”
How and Where Can You Buy AVAX?
Like every other cryptocurrency, getting started with AVAX also requires a bit of research. Not only will this help you learn more about this coin, but you can also know more about the market values, risks, and potentials.
Once you have done your research, you can get started with Avalanche.
Step #1:Â Create your account on an ethical and dependable crypto trading platform like BlockFi, Gemini, and CRO.com.
Step #2:Â Ensure your account is safe using two-factor verification. At this stage, it is also best recommended to buy a digital wallet to help store your funds safely.
Step #3:Â Start depositing your funds and start trading!
What Are the Price Predictions for AVAX?
At the time of writing, the value of AVAX stands at $104.55.
However, based on reputable price prediction systems, the price of AVAX is set to reach $247.519 by 2026!
This makes it an excellent platform for long-term investments!
Pros and Cons of Using AVAX
The best way to decide whether AVAX is the right crypto coin for you is to see if the pros outweigh the cons. So, here they are!
Pros of AVAX
- The coin is safe, secure, and reliable to use
- You can create several assets on pre-existing blockchain ecosystems
- There is a high-trading value
- The decentralized protocol ensures there is no third-party watching the user’s activity
Cons of AVAX
- The transactions take a very long time to be completed
- You have no guarantee regarding the transactions you make
Wrapping Up
So, is it worth investing in AVAX this year? Yes, absolutely!
Even though the growth potential is slow, it is still very steady, and this makes it a suitable market for traders who want to make long-term investors. All you need is a little bit of luck and a ton load of caution to guide your decisions.
Good luck!
